Tankhouse Developments Inc. Signal Brewery

Tankhouse Developments Inc., operator of Signal Brewery, became bankrupt in Ontario under the Bankruptcy and Insolvency Act on September 7, 2023 at 08:49, with MNP Ltd. acting as Licensed Insolvency Trustee under estate file 33-2983557. The Debtor's Sworn Statement of Affairs dated September 6, 2023 reported total assets of $2,290,000.00 against total liabilities of $4,328,194.00, an apparent deficit of $2,038,194.00; the trustee's estimated realization values the assets at $0.00, leaving the same liabilities and a deficit of $4,328,194.00, and estimates no dividend to unsecured creditors, whose claims are reported in aggregate at $2,038,194.00. Secured claims include mortgages on 86 River Road, Corbyville registered by the Business Development Bank of Canada, Farm Credit Canada and Trenval Business Development, general security over canning lines and kegs held by Mitsubishi HC Capital Canada Leasing Inc and North Kef Corp., and deemed trust and other equipment security asserted by the Canada Revenue Agency and the Ministry of Finance, with priority to be determined and approved by the Court. The proceeding is active.