Precision Giant Systems Inc. o/a Precision Scale

Precision Giant Systems Inc. o/a Precision Scale is in bankruptcy under the Bankruptcy and Insolvency Act, with the estate now focused on realizing against secured collateral. The Debtor's Statement of Affairs lists secured creditors totalling approximately $565,811.00 — Canadian Western Bank at $486,589, Royal Bank at $67,974, and Diamond International Trucks at $11,248 — against property subject to secured claims carried at a book value of $1,763,000.00. The trustee cautions that actual realizable values may be significantly less than the amounts noted. EY has been requested to act as agent to realize on the assets, and a security review by independent counsel is pending to confirm the validity, enforceability and priority of the security.