Local Leader Inc.
Follow- Proceeding
- BankruptcyBankruptcy and Insolvency Act
- File
- 11-3037812
Local Leader Inc. has been bankrupt since January 31, 2024, with MNP Ltd. acting as Licensed Insolvency Trustee in proceedings under the Bankruptcy and Insolvency Act in the Supreme Court of British Columbia, court file 11-3037812. The Statement of Affairs reported unsecured creditors of $3,572,212.99 and secured creditors of $101,000.00; proofs of claim filed tell a different story, with 48 claims totalling $971,682.88 across all classes, of which $438,725.06 is unsecured and $532,957.82 secured. Timia Capital Holdings Limited Partnership has bifurcated its claim, filing $520,000 as secured on a general security agreement over all present personal property and $150,000 unsecured. Ten employees qualified under WEPP for unpaid wages, vacation and termination pay, an estimated $12,956 priority claim under s. 81.3(1) of the BIA, capped at $2,000 per employee. The Canada Revenue Agency holds a deemed trust claim for unremitted payroll source deductions ranking ahead of all other creditors, but has filed no proof of claim to date and the Trustee does not expect a material balance owing. The bankruptcy remains active.
Court officer report filed at commencement, recording that the company made a voluntary assignment effective January 31, 2024, the date the proceedings began.
Debtor
Local Leader Inc.
Trustee in bankruptcy
MNP
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 3 | Deemed trusts (CRA and other) | Canada Revenue Agency (CRA) · in 926 casesDeemed trust claim for unremitted payroll source deductions — Deemed trust claim; no proof of claim received to date; Trustee does not expect a material balance owing; ranks in priority to all other creditors — debtor: Local Leader Inc. | — | Trustee's Preliminary Report to Creditors |
| 4 | Secured | Timia Capital Holdings Limited Partnershipas of proof of claim filed — General security agreement over all present personal property — Timia also filed an unsecured claim of $150,000 (bifurcated secured/unsecured); Statement of Affairs vs. claims filed totals for secured creditors differ ($101,000.00 SOA vs $532,957.82 claims filed) - see financial_position note — debtor: Local Leader Inc. | $520K | Trustee's Preliminary Report to Creditors |
| 4 | Secured | Employees (Wage Earners - WEPP claimants) · in 185 casesStatutory security under s.81.3(1) BIA over Company's assets (Other Property), limited to $2,000 per employee — Ten employees qualified under WEPP for unpaid wages, vacation pay and termination pay; estimated priority claim — debtor: Local Leader Inc. | $13K | Trustee's Preliminary Report to Creditors |
| 8 | Unsecured | Unsecured creditors (aggregate as reported - Statement of Affairs) · in 532 casesas of Statement of Affairs — Document names no individual creditors; proofs of claim filed for unsecured claims total $438,725.06 as of date of report (48 total proofs of claim filed representing $971,682.88 across all classes) — debtor: Local Leader Inc. | $3.57M | Trustee's Preliminary Report to Creditors |
| 8 | Unsecured | Timia Capital Holdings Limited Partnershipas of proof of claim filed — Unsecured portion of bifurcated claim; secured portion of $520,000 also filed — debtor: Local Leader Inc. | $150K | Trustee's Preliminary Report to Creditors |
“not stated” means the record names the claim without a figure; “—” means not in the extracted record.
Unsecured creditors: no distribution.EstimatedCreditors package - Notice of First Meeting of Creditors · 2 Feb 2024
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Unsecured | — | — | no distribution | Estimatedper the trustee | Creditors package - Notice of First Meeting of Creditors · 2 Feb 2024 |
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.
| Date | Document | File |
|---|---|---|
Trustee's Preliminary Report to Creditors
| ||
Creditors package - Notice of First Meeting of Creditors
| ||
Certificate of Appointment
| ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Local Leader Inc.” (Bankruptcy), Supreme Court of British Columbia. Retrieved 20 September 2026, https://proceedings.ca/case/local-leader-inc