#Report
A court officer report was filed and recorded as becoming effective on November 14, 2023, the only step entered on the record to date.
Source: Preliminary Report
Vaultose Digital Asset Services Inc.
FollowActive
- Proceeding
- BankruptcySection 49 of the Act
- File
- 31 - 3009324
Filings held5
Last activity14 Nov 2023
On the record1,046 days
Secured debt$214K
OverviewSummary updated
Vaultose Digital Asset Services Inc. is in bankruptcy in Ontario under the BIA, with MNP Ltd. as Licensed Insolvency Trustee under court file 31 - 3009324. The estate commenced on 10 November 2023. The Statement of Affairs, as stated and estimated by the officer as at that date, puts assets at $500,000.00 against liabilities of $1,093,758.29, with a reported deficiency of $593,758.29 and preferred creditors and contingent or trust liabilities each at nil. Eight secured claims, all given on 9 November 2023 over license costs, custom software and computer equipment, are listed, the largest being Babine Bessner Spry LLP's $500,000.00 claim against security estimated at $285,685.23. Several secured creditors are related parties, including Michael Caruso, the bankrupt's affiant and officer, and each secured creditor also appears on List A for the balance of its claim. The proceeding is active.
Proceedings AIAsk this case — answers cite the filings
Case updates5 dated entries
#Filing
Assignment in bankruptcy made the same day, placing the estate with MNP Ltd. as Licensed Insolvency Trustee and fixing the Statement of Affairs date.
Source: Statement of Affairs
Parties
Debtor
Vaultose Digital Asset Services Inc.
Trustee in bankruptcy
MNP
Capital structureAs asserted in the filings
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Babine Bessner Spry LLPOther - License Costs, Custom Software and Computer Equipment; amount of claim $500,000.00; given 09-Nov-2023 — Estimated value of security $285,685.23 — debtor: Vaultose Digital Asset Services Inc. · as of 10 Nov 2023 | $214K | Statement of Affairs |
| 4 | Secured | 10840025 Canada Corp.Other - License Costs, Custom Software and Computer Equipment; amount of claim $138,000.00 (per List B); given 09-Nov-2023 — Balance of claim per List B; estimated value of security $78,849.12 — debtor: Vaultose Digital Asset Services Inc. · as of 10 Nov 2023 | $59.2K | Statement of Affairs |
| 4 | Secured | Alexandra Vasil-CarusoOther - License Costs, Custom Software and Computer Equipment; amount of claim $138,000.00; given 09-Nov-2023 — Estimated value of security $78,849.12; related party (also listed as unsecured creditor) — debtor: Vaultose Digital Asset Services Inc. · as of 10 Nov 2023 | $59.2K | Statement of Affairs |
| 4 | Secured | Forestedge Capital Inc.Other - License Costs, Custom Software and Computer Equipment; amount of claim $29,500.00; given 09-Nov-2023 — Estimated value of security $16,855.43 — debtor: Vaultose Digital Asset Services Inc. · as of 10 Nov 2023 | $12.6K | Statement of Affairs |
| 4 | Secured | Michael P Caruso Professional CorporationOther - License Costs, Custom Software and Computer Equipment; amount of claim $22,000.00; given 09-Nov-2023 — Estimated value of security $12,570.15; related party — debtor: Vaultose Digital Asset Services Inc. · as of 10 Nov 2023 | $9.43K | Statement of Affairs |
| 4 | Secured | Michael CarusoOther - License Costs, Custom Software and Computer Equipment; amount of claim $21,579.40; given 09-Nov-2023 — Estimated value of security $12,329.60; related party - individual (also bankrupt's affiant/officer) — debtor: Vaultose Digital Asset Services Inc. · as of 10 Nov 2023 | $9.25K | Statement of Affairs |
| 4 | Secured | George CallahanOther - License Costs, Custom Software and Computer Equipment; amount of claim $12,510.00; given 09-Nov-2023 — Estimated value of security $7,147.84 — debtor: Vaultose Digital Asset Services Inc. · as of 10 Nov 2023 | $5.36K | Statement of Affairs |
| 4 | Secured | Firstangel Capital CorporationOther - License Costs, Custom Software and Computer Equipment; amount of claim $12,500.00; given 09-Nov-2023 — Estimated value of security $7,142.13 — debtor: Vaultose Digital Asset Services Inc. · as of 10 Nov 2023 | $5.36K | Statement of Affairs |
| 4 | Secured | Antonio MarratoOther - License Costs, Custom Software and Computer Equipment; amount of claim $1,000.00; given 09-Nov-2023 — Estimated value of security $571.38 — debtor: Vaultose Digital Asset Services Inc. · as of 10 Nov 2023 | $429 | Statement of Affairs |
| 8 | Unsecured | Babine Bessner Spry LLPAmount is entirely the balance of secured claim (unsecured portion $0.00); also listed as secured creditor — debtor: Vaultose Digital Asset Services Inc. · as of 10 Nov 2023 | $214K | Statement of Affairs |
| 8 | Unsecured | 10840025 Canada Corp.Total claim comprises $16,560.00 unsecured claim plus $59,150.88 balance of secured claim; also appears in List B as secured creditor — debtor: Vaultose Digital Asset Services Inc. · as of 10 Nov 2023 | $75.7K | Statement of Affairs |
| 8 | Unsecured | Forestedge Capital Inc.Comprises $51,700.39 unsecured claim plus $12,644.57 balance of secured claim; also listed as secured creditor — debtor: Vaultose Digital Asset Services Inc. · as of 10 Nov 2023 | $64.3K | Statement of Affairs |
| 8 | Unsecured | Alexandra Vasil-CarusoAmount is entirely the balance of secured claim (unsecured portion $0.00); also listed as secured creditor; related party — debtor: Vaultose Digital Asset Services Inc. · as of 10 Nov 2023 | $59.2K | Statement of Affairs |
| 8 | Unsecured | George CallahanComprises $44,850.00 unsecured claim plus $5,362.16 balance of secured claim; also listed as secured creditor — debtor: Vaultose Digital Asset Services Inc. · as of 10 Nov 2023 | $50.2K | Statement of Affairs |
| 8 | Unsecured | Bobby Sachdevadebtor: Vaultose Digital Asset Services Inc. · as of 10 Nov 2023 | $34.5K | Statement of Affairs |
| 8 | Unsecured | Firstangel Capital CorporationComprises $28,807.50 unsecured claim plus $5,357.87 balance of secured claim; also listed as secured creditor — debtor: Vaultose Digital Asset Services Inc. · as of 10 Nov 2023 | $34.2K | Statement of Affairs |
| 8 | Unsecured | Tilo Kunz, 1946077 Ontario Inc., William (Bill) Yakamovich, IOT Consulting, Atlantic Trust Company and Quantum Safe Data SystemsMultiple named parties combined as one listed creditor entry; c/o Smart & Biggar LLP — debtor: Vaultose Digital Asset Services Inc. · as of 10 Nov 2023 | $25K | Statement of Affairs |
| 8 | Unsecured | Tyler Siposdebtor: Vaultose Digital Asset Services Inc. · as of 10 Nov 2023 | $10.3K | Statement of Affairs |
| 8 | Unsecured | Michael P Caruso Professional CorporationAmount is entirely the balance of secured claim (unsecured portion $0.00); also listed as secured creditor; related party — debtor: Vaultose Digital Asset Services Inc. · as of 10 Nov 2023 | $9.43K | Statement of Affairs |
| 8 | Unsecured | Michael CarusoAmount is entirely the balance of secured claim (unsecured portion $0.00); also listed as secured creditor; related party - individual/officer — debtor: Vaultose Digital Asset Services Inc. · as of 10 Nov 2023 | $9.25K | Statement of Affairs |
| 8 | Unsecured | Brent Siposdebtor: Vaultose Digital Asset Services Inc. · as of 10 Nov 2023 | $6.9K | Statement of Affairs |
| 8 | Unsecured | Antonio MarratoAmount is entirely the balance of secured claim (unsecured portion $0.00); also listed as secured creditor — debtor: Vaultose Digital Asset Services Inc. · as of 10 Nov 2023 | $429 | Statement of Affairs |
| 8 | Unsecured | CRA - GST/HST - Jonquiere · in 12 casesDeemed trust class (CRA GST/HST) — debtor: Vaultose Digital Asset Services Inc. · as of 10 Nov 2023 | $1 | Statement of Affairs |
Estate financialsReported figures — never derived
Total assets at filing$500K
Total liabilities at filing$1.09M
As at 10 Nov 2023 · per Statement of Affairs as stated and estimated by the officer · Entity - Vaultose Digital Asset Services Inc. — Preferred creditors and contingent/trust liabilities each stated as $0.00 (Lists C and D); deficiency of $593,758.29 reported
Documents5 filings
| Date | Document | File |
|---|---|---|
Preliminary Report
| ||
| Certificate of Appointment dated | ||
| Creditor's Package | ||
Assignment for the General Benefit of Creditors
| ||
Statement of Affairs
| ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Vaultose Digital Asset Services Inc.” (Bankruptcy). Retrieved 20 September 2026, https://proceedings.ca/case/vaultose-digital-asset-services-inc