Ramel Inc. o/a MTS Logistics International

Ramel Inc., operating as MTS Logistics International, has been in bankruptcy in Ontario since 12 July 2022, with Royal Bank of Canada as applicant and BDO Canada Limited as trustee. The matter proceeds in the Ontario Superior Court of Justice in Bankruptcy and Insolvency under court files 32-2849895 and BK-22-00208570-OT31, on subsection 16(1) and subsection 102(1) of the Act. The Statement of Affairs as at 12 July 2022 shows assets of $7,711,592.00 against liabilities of $16,586,989.93 — unsecured creditors $8,214,537.42, secured creditors $7,711,592.00, preferred creditors $660,860.51 — and a stated deficiency of $8,875,397.93. Secured claims run largely against machinery, transportation equipment and assets under capital lease; the Canada Revenue Agency is listed for $660,860.51 in payroll source deductions. The proceeding is active.