Taber Water Disposal Inc.

Taber Water Disposal Inc. remains in proceedings begun by a notice of intention filed March 25, 2024 under BIA s. 50.4 in Alberta, and filed a Proposal on September 6, 2024. The court granted a first-priority Administration Charge of up to $500,000 for the debtor's counsel, the Proposal Trustee and its counsel, and a second-ranking Interim Lender's Charge of up to $500,000 in favour of Luxur Resources Inc., a related party whose director Mark Coney is also a director of the debtor. An amended Statement of Affairs sworn September 11, 2024 shows assets of $2,237,820.19 against liabilities of $2,765,854.75, a deficiency of $528,034.56. Claims determined under the Claims Procedure as at August 16, 2024 comprise $573,818 secured, $424,464 owed to the Canada Revenue Agency, $99,045 of priority claims and $1,985,314 unsecured. Secured creditors are unaffected by the Proposal, to be paid in full or have contracts continued or transferred to Luxur.