Syncapse Corp. (Bankruptcy)

Syncapse Corp. entered bankruptcy on February 3, 2014, under subsection 102(1) of the Act, in Ontario, with MNP Ltd. as trustee; the company filed, or was deemed to have filed, an assignment in bankruptcy that date. Its Statement of Affairs, sworn by officer Michael Scissons, reported total assets of $3,070,000.00 against total liabilities of $16,866,603.14, a stated deficiency of $13,796,603.14, with no secured creditors reported. Unsecured creditors include ABS Capital Partners at $14,703,834.00, Bennett Jones LLP at $366,393.15, and Deloitte & Touche LLP at $332,645.81. Employees, listed as an ordinary unsecured claim rather than a separate preferred class, are owed $291,400.07. Related affiliates Syncapse Limited, Syncapse APAC India Private Limited, and Syncapse Inc. are also listed among its unsecured creditors, for $26,935.00, $11,048.00, and $132,913.00 USD respectively.