Lambda Solutions Inc.
- Proceeding
- NOIBankruptcy and the Insolvency Act R.S.C.1985, c. B-3
- File
- B-240536
Lambda Solutions Inc. has been in insolvency proceedings in British Columbia since November 1, 2024, filed under subsection 50.4(1) of the Bankruptcy and Insolvency Act, with Crowe Mackay & Company Ltd as Licensed Insolvency Trustee under file no. 11-3149370. Management's preliminary figures put assets at a net book value of $722,622 as at October 31, 2024. Evergreen Gap Debt GP Inc., as agent for FirePower Capital, holds first-ranking security over all present and after-acquired personal property for approximately $1,379,752, ahead of Business Development Bank of Canada at approximately $422,309. Around eleven unsecured creditors are owed approximately $1,683,724.27. FirePower issued a notice of intention to enforce security under section 244 of the Act on or around October 23, 2024.
The officer filed report no. Second Report. The Company continues to operate and meet post-filing obligations while negotiating with its secured creditor Firepower on a credit bid/sale of the Company's assets, and is seeking a further stay extension to finalize this agreement or a proposal.
Source: Proposal Trustee ’s Second Report to Court dated January 10, 2025
Creditor ’s Package – Notice of Intention to Make a Proposal was filed. Court file 11-3149370.
Source: Creditor ’s Package – Notice of Intention to Make a Proposal
Debtor
Lambda Solutions Inc.
Proposal trustee
Crowe MacKay
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 3 | Deemed trusts (CRA and other) | Canada Revenue Agency (CRA) · in 985 casesas of NOI filing date — Deemed trust claim (employee portion) for unpaid employee source deductions — Deemed trust class; amount includes employee and employer portions but may not include interest/penalties; subject to change pending CRA trust examination; only employee portion ranks as deemed trust ahead of secured creditors in bankruptcy — debtor: Lambda Solutions Inc. | $12.7K | Proposal Trustee ’s First Report to Court dated December 2, 2024 |
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 5 | PMSI / lessors | |||
| 7 | Preferred (BIA s. 136) | |||
| 8 | Unsecured |
6 more claims in 4 classes The stack holds Deemed trusts (CRA and other), Secured, PMSI / lessors, Preferred (BIA s. 136) and Unsecured claims.
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The total the debtor stated at filing
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See all plans| Date | Document | File |
|---|---|---|
| Proposal Trustee ’s Letter relating to the Third Extension | PDF · Subscribers | |
Order entered February 7, 2025
| PDF · Subscribers | |
| Notice of Motion Entered February 5, 2025 | PDF · Subscribers | |
| Affidavit #4 of Bat-sheva Levy | PDF · Subscribers | |
| Order entered January 14, 2025 | PDF · Subscribers | |
Proposal Trustee ’s Second Report to Court dated January 10, 2025
| PDF · Subscribers | |
| Affidavit #2 of Bat-sheva Levy | PDF · Subscribers | |
| Order entered December 4, 2024 | PDF · Subscribers | |
Proposal Trustee ’s First Report to Court dated December 2, 2024
| PDF · Subscribers | |
| Notice of Motion entered November 22, 2024 | PDF · Subscribers | |
Creditor ’s Package – Notice of Intention to Make a Proposal
| PDF · Subscribers | |
| Affidavit #3 of Bat-sheva Levy | PDF · Subscribers | |
Certificate of Filing
| PDF · Subscribers | |
| Affidavit #1 of Bat-sheva Levy | PDF · Subscribers | |
Filing titles and dates are public, and so is each filing's own page. The figures read from them are for subscribers.
CiteProceedings., “Lambda Solutions Inc.” (NOI), Supreme Court of British Columbia. Retrieved 4 November 2026, https://proceedings.ca/case/lambda-solutions-inc