Woody's MFG Ltd.

Woody's MFG Ltd. made an assignment in bankruptcy on April 28, 2020 (court file 35-2641497), with MNP Ltd. appointed trustee under the Bankruptcy and Insolvency Act. Its Statement of Affairs reported total liabilities of $2,600,697 — $1,887,024 in aggregate unsecured claims, $514,580 in secured claims, $199,066 owed to the Canada Revenue Agency as a deemed trust for unpaid source deductions, and $27 in preferred wage claims for former employees, each listed at a nominal $1 because the true amounts owed were not yet known. The Trustee reported no assets available to it for realization, noting that assets — including trade accounts receivable with a book value of $58,000 — would be liquidated by a receiver. Secured claims are registered by the Royal Bank of Canada, which had demanded in excess of $1.0 million under a Notice of Intention, along with Business Development Bank of Canada, CNC Automation, Meridian Onecap Credit Corp and Toyota Credit Canada Inc.