Rial Électrique Inc.

Rial Électrique Inc. has been in bankruptcy since September 11, 2019, with MNP Ltée acting as syndic under the BIA before the Superior Court of Québec, Commercial Division, in file 765-11-002375-199. The statutory statement of affairs puts declared book-value assets at $5,358,330, against realization to date of $114,177, and provable claims at $8,358,624 — a deemed trust claim of $1,210,780 held by Revenu Québec and the CRA, secured claims of $2,570,002, employee-related secured claims of $204,000 payable through Service Canada's wage earner protection program, and unsecured claims of $4,373,842, of which $1,931,011 has been received or filed to date. Banque Laurentienne du Canada holds a universal hypothec for $2,500,000. Echelon Assurances, registered for a nominal $1 and acting as surety on projects, has served notices withdrawing authorization to collect receivables totalling $1,655,710. The proceeding remains active.