Slang Worldwide Inc.

Slang Worldwide Inc. filed an assignment in bankruptcy on November 25, 2024 under the BIA in Ontario, court file 31-3157729, with B. Riley Farber Inc. acting as licensed trustee of the estate. The Statement of Affairs reports total assets of $107,325.00 against total liabilities of $27,227,966.54, comprising a secured claim of $107,325.00 limited to realizable property value, no preferred claims, and unsecured claims of $27,120,641.54. Claims filed with the trustee total $23,292,708.53, of which $23,286,690.30 is secured and $6,018.23 unsecured. All property of the company is encumbered in favour of the Secured Lenders, whose security is registered under the Ontario PPSA by Seventh Avenue Investments, LLC as administrative and collateral agent and sole registrant. A legal opinion on the validity of that security is pending, a shortfall to the Secured Lenders is anticipated, and no surplus is expected for preferred or unsecured creditors. The estate remains active.