LG Projects Ltd.
- Proceeding
- ProposalBankruptcy and Insolvency Act
- File
- 26629
LG Projects Ltd. is in a Division I proposal proceeding under the Bankruptcy and Insolvency Act, commenced on April 24, 2025 when management filed a Notice of Intention to Make a Proposal. The matter is before the Court of King's Bench of New Brunswick under court file no. 26629 and remains active. The record to date consists of court officer reporting tied to the date of the Notice of Intention.
Guide
Division 1 proposal: how it works for a business in Canada
When a Canadian business can't pay its debts, a Division 1 proposal lets it keep operating while it offers creditors a deal. How the notice of intention, the six-month clock, the vote and court approval work, what CRA must be paid, and what happens when it fails, drawn from the court record.
Debtor
LG Projects Ltd.
Proposal trustee
MNP
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 3 | Deemed trusts (CRA and other) | CRA - Tax - Atlantic · in 46 casesAssets #1301 (business receivables), #801, #807-812 listed as security for employee source deductions — Same debt also has an unsecured portion of $687,987.18 (bifurcated secured/unsecured claim); source-deduction liability is a CRA deemed-trust class claim — debtor: LG Projects Ltd. · as of 29 Apr 2025 | $263K | Bankruptcy Creditor's Package |
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
24 more claims in 2 classes The stack holds Deemed trusts (CRA and other), Secured and Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plansUnsecured creditors: a distribution. Canada Revenue Agency paid in full · Canada Revenue Agency no distribution.Under the plan · sanctionedTrustee's First Report to Creditors · 27 May 2025
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Deemed trust | Source Deduction Claim(s) | — | paid in full | Under the plansanctionedper the debtor | Amended Proposal · 9 Jul 2025 |
| Deemed trust | Canada Revenue Agency | proven | paid in fullconditional | Under the plansanctionedper the trustee | Trustee's Second Report to Creditors · 9 Jul 2025 |
| Secured | — | — | paid in fullconditional | Under the plansanctionedper the trustee | Trustee's Second Report to Creditors · 9 Jul 2025 |
| Preferred | — | — | paid in full | Under the plansanctionedper the debtor | Amended Proposal · 9 Jul 2025 |
| Unsecured | — | estimated | Under the plansanctionedper the trustee | Trustee's First Report to Creditors · 27 May 2025 | |
| UnsecuredCRA's HST claim (unsecured) | Canada Revenue Agency | — | no distribution | Under the plansanctionedper the trustee | Trustee's Second Report to Creditors · 9 Jul 2025 |
Each row is one filing's statement, copied as it reads and never computed. "Estimated" is the officer's forecast; "Under the plan" is the plan's or proposal's own term; "Final" is a declared or paid distribution; a row with no chip states no footing. A range is the two numbers stated; "of proven claims" is the document's own denominator.
3 blurred figures above
The claims and what each class or creditor recovers — each as the filing states it, with its source.
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See all plansAs at ·
The 2 totals the debtor stated at filing
Each one as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
Bankruptcy Trustee's Report to Creditors
| PDF · Subscribers | |
Bankruptcy Creditor's Package
| PDF · Subscribers | |
| Order Approving Proposal | PDF · Subscribers | |
Trustee's Second Report to Creditors
| PDF · Subscribers | |
Amended Proposal
| PDF · Subscribers | |
Trustee's First Report to Creditors
| PDF · Subscribers | |
Proposal
| PDF · Subscribers | |
| Notice of Intention to Make a Proposal | 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., “LG Projects Ltd.” (Proposal), Court of King's Bench of New Brunswick. Retrieved 4 November 2026, https://proceedings.ca/case/lg-projects-ltd