Newgrind Inc.
Follow- Proceeding
- Bankruptcysection 49 of the Bankruptcy and Insolvency Act
- File
- 11-3125845
Newgrind Inc. has been bankrupt since September 9, 2024, with MNP Ltd. acting as Licensed Insolvency Trustee under the Bankruptcy and Insolvency Act in the Supreme Court of British Columbia, court file 11-3125845. The Statement of Affairs reports total liabilities of $6,532,445.15, of which $6,532,444.15 is unsecured and $1,250,426.28 secured, against assets consisting of Other Property valued at $1.00, being residual funds from the receivership. No assets are expected to be available to unsecured creditors after priority and secured claims. Nine proofs of claim totalling $395,932.35 have been filed, well short of the Statement of Affairs figure. A Canada Revenue Agency deemed trust claim over unremitted payroll source deductions ranks ahead of all other creditors; five wage earners were processed through WEPP, secured for $7,804.88 to the extent of $2,000 each.
Court officer's report filed on the day the bankruptcy proceedings commenced, effective September 9, 2024, and the only entry so far on the record.
Debtor
Newgrind 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 over unremitted payroll source deductions — Deemed trust class, ranks ahead of all other creditors; proof of claim not yet received; approx. $36,000 remitted to CRA in 2024 but unclear if full amount owing; amount unknown/unconfirmed — debtor: Newgrind Inc. | — | Trustee's Preliminary Report to Creditors |
| 4 | Secured | Wage earners (Wage Earner Protection Program claims) · in 16 casesStatutory security under BIA s.81.3(1) over current assets, to extent of $2,000 per employee — Five wage earners processed through WEPP; secured to extent of $2,000 each per BIA — debtor: Newgrind Inc. | $7.8K | Trustee's Preliminary Report to Creditors |
| 4 | Secured | Vault Credit Corporation · in 65 casesRegistered security interest (BC PPR) — PPR search January 2, 2024; claim under review by Trustee, amount not yet confirmed — debtor: Newgrind Inc. · as of 2 Jan 2024 | — | Trustee's Preliminary Report to Creditors |
| 4 | Secured | Royal Bank of Canada (RBC) · in 556 casesRegistered security interest (BC PPR) — PPR search January 2, 2024; claim under review by Trustee, amount not yet confirmed; RBC agreed bankruptcy administration costs paid in priority to its security — debtor: Newgrind Inc. · as of 2 Jan 2024 | — | Trustee's Preliminary Report to Creditors |
| 4 | Secured | British Columbia Ministry of Finance · in 7 casesRegistered security interest (BC PPR) — PPR search January 2, 2024; claim under review by Trustee, amount not yet confirmed; possible regulatory/statutory lien — debtor: Newgrind Inc. · as of 2 Jan 2024 | — | Trustee's Preliminary Report to Creditors |
| 4 | Secured | Driven Technologies CorporationRegistered security interest (BC PPR) — PPR search January 2, 2024; claim under review by Trustee, amount not yet confirmed — debtor: Newgrind Inc. · as of 2 Jan 2024 | — | Trustee's Preliminary Report to Creditors |
| 4 | Secured | CWB National Leasing · in 21 casesRegistered security interest (BC PPR) — PPR search January 2, 2024; claim under review by Trustee, amount not yet confirmed — debtor: Newgrind Inc. · as of 2 Jan 2024 | — | Trustee's Preliminary Report to Creditors |
| 4 | Secured | Canacap · in 13 casesRegistered security interest (BC PPR) — PPR search January 2, 2024; claim under review by Trustee, amount not yet confirmed — debtor: Newgrind Inc. · as of 2 Jan 2024 | — | Trustee's Preliminary Report to Creditors |
| 8 | Unsecured | Unsecured creditors (aggregate as reported) · in 532 casesas of Statement of Affairs filed — Document names no individual unsecured creditors; proofs of claim filed to date total $395,932.35 (9 proofs of claim filed as of report date), a much lower figure than the Statement of Affairs amount — debtor: Newgrind Inc. | $6.53M | Trustee's Preliminary Report to Creditors |
“not stated” means the record names the claim without a figure; “—” means not in the extracted record.
per Statement of Affairs as filed · Newgrind Inc. (single entity, bankrupt estate) — Total liabilities per Statement of Affairs comprised of secured $1,250,426.28 (per SoA, but see Statement of Affairs column showing $1.00), preferred nil, unsecured $6,532,444.15, total $6,532,445.15 as reported in Statement of Affairs; Assets consist of Other Property valued at $1.00 (residual funds from Receivership); no assets expected available for unsecured creditors after priority and secured claims
| Date | Document | File |
|---|---|---|
Trustee's Preliminary Report to Creditors
| ||
| Creditor's package - Notice of First Meeting of Creditors | ||
Certificate of Appointment
| ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Newgrind Inc.” (Bankruptcy), Supreme Court of British Columbia. Retrieved 20 September 2026, https://proceedings.ca/case/newgrind-inc-bankruptcy