Szmata Projects Ltd.
Follow- Proceeding
- Bankruptcysection 49 of the Bankruptcy and Insolvency Act
- File
- 24-3253053
Szmata Projects Ltd. made a voluntary assignment into bankruptcy effective July 28, 2025, and the estate remains active. The proceeding is administered under the Bankruptcy and Insolvency Act and is before the Court of King's Bench of Alberta under court file number 24-3253053. The record to date consists of a court officer's report bearing the date of the assignment. No further steps in the administration have been recorded.
Court officer's report recorded the company's voluntary assignment into bankruptcy, effective July 28, 2025, commencing the estate administration under the BIA.
Source: Trustee's Report to Creditors
Debtor
Szmata Projects Ltd.
Trustee in bankruptcy
MNP
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Unsecured | Szmata Holdings Ltd.Related party (recorded as 'Due to Related Party' on the Company's June 30, 2025 balance sheet); amount matches balance sheet figure exactly. — debtor: Szmata Projects Ltd. · as of 30 Jun 2025 | $352K | Trustee's Report to Creditors |
| Unsecured | Canada Revenue Agency · in 926 casesOwing for Corporate Income Tax; CRA had not filed a proof of claim as of the date of this report. — debtor: Szmata Projects Ltd. | $311 | Trustee's Report to Creditors |
Unsecured creditors: no recovery.EstimatedTrustee's Report to Creditors · 15 Aug 2025
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Unsecured | — | $352Kestimated | no recovery | Estimatedper the trustee | Trustee's Report to Creditors · 15 Aug 2025 |
Each row is one filing's statement, copied as it reads and never computed. "Estimated" is the officer's forecast; "Under the plan" is the plan's or proposal's own term; "Final" is a declared or paid distribution; a row with no chip states no footing. A range is the two numbers stated; "of proven claims" is the document's own denominator.
As at 30 Jun 2025 · per Management prepared financial statements (most current available; prior period financials not prepared as Company had no operations previously) · Entity-level, Szmata Projects Ltd. only — Shareholders' deficiency of $(194,452) reconciles assets to liabilities (Table 2). Trustee confirmed 'there are no secured creditors as of the date of bankruptcy' after reviewing books/records and the Personal Property Registry. As at date of bankruptcy (July 28, 2025), Company held approximately $3,586 in bank accounts (separate from June 30, 2025 balance sheet cash figure of $1,672).
| Date | Document | File |
|---|---|---|
Trustee's Report to Creditors
| ||
| First Meeting of Creditors Notice Package | ||
Certificate of Assignment
| ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Szmata Projects Ltd.” (Bankruptcy), Court of King's Bench of Alberta. Retrieved 20 September 2026, https://proceedings.ca/case/szmata-projects-ltd