Safyre Labs Inc.
Follow- Proceeding
- Bankruptcysection 49 of the Bankruptcy and Insolvency Act
- File
- 31-3432652
- Industry
- Retail · Apparel, footwear & jewellery retail
Safyre Labs Inc. made an assignment in bankruptcy under section 49 of the Bankruptcy and Insolvency Act effective October 5, 2026 at 09:02, with MNP LTD / MNP LTÉE as trustee under estate number 31-3432652 in Ontario. The Form 78 statement of affairs, sworn by director Richard Nathan on October 1, 2026 and not verified by the trustee, puts the estimated realizable value of assets at $4.00 against liabilities of $44,511,848.75, a stated deficiency of $44,511,844.75, and attributes the failure to a lack of working capital and funding. Book values carried in the statement include intangible assets of $90,731,926.60, an investment in Jewlr of $52,017,398.77 and property, plant and equipment of $367.19. Canadian Imperial Bank of Commerce claims $17,069,418.35 on a 2021 bank loan, with security valued at $1.00 and the balance ranking unsecured; Jewlr Holdings Inc. is listed on a promissory note for $22,738,345.29.
Bankruptcy took effect at 09:02 on October 5, 2026, placing the Safyre Labs estate in the hands of MNP LTD / MNP LTÉE as trustee.
Source: Certificate of Appointment
Debtor
Safyre Labs Inc.
Trustee in bankruptcy
MNP
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Canadian Imperial Bank of Commerce · in 71 casesForm 78 lists a total claim of $17,069,418.35 against asset securing liability '101' (Cash on hand); security value stated as $1.00 — Nature: bank loan except real property mortgage, given/incurred 15-Nov-2021. Form 78 shows $1.00 as secured and an estimated deficit from security of $17,069,417.35; the balance of $17,069,417.35 is the unsecured portion. Statement of Affairs is as stated by the bankrupt, not proven by the trustee. — debtor: Safyre Labs Inc. · as of 1 Oct 2026 | $17.1M | Creditor's Package |
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
8 more claims in 1 class The stack holds Secured and Unsecured claims.
Every creditor and every amount, drawn to scale.
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The 2 totals the debtor stated at filing
Each one as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
| Tear Sheet | PDF · Subscribers | |
| Affidavit of Mailing | PDF · Subscribers | |
Creditor's Package
| PDF · Subscribers | |
Certificate of Appointment
| PDF · Subscribers | |
Filing titles and dates are public, and so is each filing's own page. The figures read from them are for subscribers.
CiteProceedings., “Safyre Labs Inc.” (Bankruptcy). Retrieved 16 October 2026, https://proceedings.ca/case/safyre-labs-inc