Shop MBoutique Ecomm Ltd.

Shop MBoutique Ecomm Ltd. has been in bankruptcy under the BIA in Ontario since November 30, 2022, with MNP Ltd. acting as Licensed Insolvency Trustee under estate no. 31-2889551. The Statement of Affairs, as at November 29, 2022, reports aggregate secured claims of $1,701,000, supported by PPSA registrations in favour of Norjan Ventures Inc., Jan Kaplan and Norma Caron, and TD Canada Trust identified on an August 6, 2022 search. Norjan Ventures Inc. ranks as senior secured creditor, has the benefit of an independent legal opinion confirming its security is valid and enforceable, and had appointed MNP as receiver and manager under that security. TD Canada Trust also holds a deposit against a credit card balance, with expected recovery of $85,000. The Statement of Affairs reports preferred claims of $90,395 and unsecured claims of $128,492, with nil contingent claims. As at December 14, 2022, no secured or preferred claims had been filed and proofs of claim from unsecured creditors totalled $51,616; the Trustee has not determined admissibility.