Orbcare Inc

Orbcare Inc filed a notice of intention to make a proposal on May 28, 2019 under section 50.4 of the Bankruptcy and Insolvency Act, with MNP Ltd. as trustee, in the Ontario Superior Court of Justice (Commercial List) under court file no. 31-2516167. The notice lists creditors with claims of $927,431, all unsecured: a search of the Ontario PPSA registry current to May 23, 2019 and a review of company records indicate no known secured creditors. The largest creditor is the Canada Revenue Agency, for unpaid source deductions, HST and corporate taxes falling within the deemed trust class, on incomplete records. Assets consist primarily of intellectual property and accounts receivable, and the company held $288,220 in cash as at June 3, 2019. The proceedings remain active.