Zio’s Pizza Kitchen Ltd.

Zio's Pizza Kitchen Ltd. has been bankrupt since October 5, 2022, with Deloitte Restructuring Inc. acting as Licensed Insolvency Trustee under the BIA in the Court of King's Bench of New Brunswick in Bankruptcy and Insolvency, file no. 25915. The Trustee's preliminary, unaudited summary as at the date of bankruptcy puts assets at $3,039,668 in book value against liabilities of $3,690,624, comprising secured claims of $2,352,109 and unsecured claims of $1,338,515, with realizations possibly varying from book values. CIBC and the Business Development Bank of Canada hold general security agreements and real property mortgages over Zio's assets; a municipal property tax priority claim of approximately $311,000 ranks ahead of that collateral. Blue Chip Leasing Corporation, the Bank of Nova Scotia and Silver Chef Rentals Inc. hold PPSA registrations, with opinions on validity and enforceability pending from proposed estate counsel Stewart McKelvey. Fifty-nine unsecured creditors are owed approximately $1.4 million; four proofs of claim had been received, and no distribution to unsecured creditors is anticipated.