York-Durham Heritage Railway Association

York-Durham Heritage Railway Association is in bankruptcy under the BIA in Ontario, commenced 18 January 2024 under court file no. 32-3032394, with a licensed trustee administering the estate. The Statement of Affairs puts liabilities at $2,071,632.87 — secured $640,833.59, preferred $1.00 and unsecured $1,430,798.28, with no contingent claims — against estimated assets of $859,754, being cash of $9,754, railway equipment valued at $650,000 and a $200,000 insurance receivable. Claims filed with the trustee to the report date total $1,723,338.73. American Heritage Railways, Inc. and Rail Events, Inc. hold PPSA-registered security over locomotives, coaches, cars, cabooses and other rolling stock; the trustee has not commissioned an opinion on its validity, citing limited funding. The Canada Revenue Agency asserts a deemed trust claim of $304,468 for payroll source deductions as of 29 January 2024, ranking ahead of the secured creditors. The trustee is still determining amounts owed to employees under WEPPA and s. 81(3) of the BIA.