Steven Sarasin Enterprises Inc.
Follow- Proceeding
- BankruptcyBIA
Steven Sarasin Enterprises Inc., an Ontario corporation that served as its director's personal real estate corporation, is bankrupt under the BIA, with a bankruptcy date of 28 September 2026. The Statement of Affairs sworn by the director on 25 September 2026 reports a single asset — $1.00 nominal in a Royal Bank of Canada business account — against total liabilities of $491,630.97, comprising a $1.00 secured claim held by RBC under a loan dated 16 March 2026 and $491,629.97 in unsecured claims, leaving a deficiency of $491,629.97. The company attributes its difficulty to the economic downturn, citing CRA arrears for HST and payroll remittances accumulated between 2022 and 2024, bank and BDC debt incurred to support a real estate team's operating costs in a slow market, and the director's medical challenges. A taxpayer relief application has been filed. BDC commenced legal proceedings in November 2025.
Debtor
Steven Sarasin Enterprises Inc.
Trustee in bankruptcy
Goldhar & Associates
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 3 | Deemed trusts (CRA and other) | CRA - Tax - Ontario (payroll) · in 256 casesNature of liability: employee source deductions (payroll remittances). Listed in the unsecured column with no priority ground stated on the form, though deemed-trust class claims in nature; Crown/deemed trust. — debtor: Steven Sarasin Enterprises Inc. · as of 25 Sep 2026 | $50.9K | Notice of Bankruptcy and First Meeting of Creditors, with Creditors Package (September 28, 2026) |
| 4 | Secured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
11 more claims in 2 classes The stack holds Deemed trusts (CRA and other), Secured and Unsecured claims.
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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 |
|---|---|---|
Notice of Bankruptcy and First Meeting of Creditors, with Creditors Package (September 28, 2026)
| PDF · Subscribers | |
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CiteProceedings., “Steven Sarasin Enterprises Inc.” (Bankruptcy). Retrieved 16 October 2026, https://proceedings.ca/case/steven-sarasin-enterprises-inc