Nanopay Corporation's insolvency record shows a secured claim of approximately $375,000 held by the Ontario Minister of Finance for Employer Health Tax, registered on the PPSA registry, against a total EHT balance of $760,322 as of June 14, 2023. Unsecured claims listed at the filing date include $170,000 owed to four trade creditors, $181,000 to sixteen former employees for wages and vacation pay, $3,584.17 in late remittance penalties owed to the Canada Revenue Agency, $385,000 representing the unsecured portion of the Employer Health Tax balance, $2,400,000 in unpaid rent to the landlord, and $1,300,000 owed to two lender-shareholders. A related-party balance of $35,800,000 owed to parent company Nanopay Holdings Inc. is recorded, though the Proposal Trustee has requested documentation to verify it.
The officer filed report no. Report of the Trustee's Preliminary Administration. The Debtor ceased operations on December 31, 2025 and was subsequently assigned into bankruptcy; the Trustee is now realizing remaining assets (including a pending share sale of its subsidiary) and assisting former employees with wage claims through WEPP.
Source: Preliminary Report
Motion Record of the Trustee – Returnable October 3, 2023 — Application / notice of application
Guide
What to do when a company that owes you money goes bankrupt in Canada
When a Canadian company that owes you money goes bankrupt or into creditor protection, what you actually get back is usually a fraction of the debt, often nothing, and only if your claim is in on time. How to find the case, file a claim, meet a bar date, vote on a plan, take back goods and get paid, drawn from the court record.
Filing brief
Nanopay: the 1% proposal, then the assignment
The Toronto embedded-payments start-up gave its general unsecured creditors 1% of its new shares under a 2023 proposal, its parent agreeing to file no claim. On July 2, 2026 it made an assignment in bankruptcy; its principal asset is its shares in a subsidiary, which it agreed in April to sell for US$199,999.
Debtor
Nanopay Corporation
Proposal trustee
Dodick Landau
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Steele | Ontario Superior Court of Justice | 1 order, Oct 2023 | 245 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| Proposal trusteeDodick Landau | Loopstra Nixon LLP | 18 Sep 2023 | Order · 3 Oct 2023 |
| DebtorNanopay Corporation | Dentons Canada LLP | 16 Jun 2023 | Order · 16 Jun 2023 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Her Majesty the Queen in Right of Ontario, represented by the Minister of Finance (Employer Health Tax)PPSA registration (Ontario) — Approximate portion of the Company's Employer Health Tax balance registered as secured on the PPSA registry, out of a total EHT balance of $760,322 per online account statement accessed June 14, 2023; remaining balance treated as unsecured; regulatory (Employer Health Tax) quasi-debt; also listed (without amount) as an existing lien in Schedule 'B' to the DIP Term Sheet — debtor: Nanopay Corporation · as of 14 Jun 2023 | $375K | Proposal Trustee’s First Report to Court – Dodick Landau Inc. |
| 7 | Preferred (BIA s. 136) | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
7 more claims in 2 classes The stack holds Secured, Preferred (BIA s. 136) and Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plansUnsecured creditors: a distribution.Under the plan · sanctionedMotion Record of the Trustee · 18 Sep 2023
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| WEPPA | Former Employee Claims (WEPPA) | — | a distribution | Under the plansanctionedper the proposal trustee | Motion Record of the Trustee · 18 Sep 2023 |
| Deemed trust | — | — | paid in full | Under the plansanctionedper the proposal trustee | Motion Record of the Trustee · 18 Sep 2023 |
| SecuredHis Majesty in Right of Ontario (secured EHT claim, Class 1) | His Majesty in Right of Ontario / Minister of Finance | — | Under the plansanctionedper the proposal trustee | Motion Record of the Trustee · 18 Sep 2023 | |
| Preferred | — | — | paid in full | Under the plansanctionedper the proposal trustee | Motion Record of the Trustee · 18 Sep 2023 |
| Unsecured | Convenience Class Unsecured Creditors | — | a distributionconditional | Under the plansanctionedper the proposal trustee | Motion Record of the Trustee · 18 Sep 2023 |
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.
1 blurred figure 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 ·
Cash on hand
$11.9K
As at 20 Jul 2026Preliminary Report
The total 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 |
|---|---|---|
Preliminary Report
| PDF · Subscribers | |
| Certificate of Appointment | PDF · Subscribers | |
Court Order Issued – October 3 2023)
| PDF · Subscribers | |
Factum Motion
| PDF · Subscribers | |
Motion Record of the Trustee – Returnable October 3, 2023
| PDF · Subscribers | |
| Creditor Package | PDF · Subscribers | |
Cour Order (Stay Extension) – August 1 2023
| PDF · Subscribers | |
| Second Report of the Proposal Trustee | PDF · Subscribers | |
| Supplement to First Report – Proposal Trustee | PDF · Subscribers | |
Court Endorsement
| PDF · Subscribers | |
Court Order
| PDF · Subscribers | |
Motion Record – Nanopay Corporation
| PDF · Subscribers | |
Proposal Trustee’s First Report to Court – Dodick Landau Inc.
| 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., “Nanopay Corporation” (NOI), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/nanopay-corporation
Sources last checked · summary updated 13 August 2026 · Report a correction · Printed from proceedings.ca/case/nanopay-corporation
Facts and summaries are extracted automatically from the court filings linked on each page; the filings remain the authoritative record. Suggested corrections are reviewed against the source filings.