Zio's Pizza Kitchen Ltd.

Zio's Pizza Kitchen Ltd., a Moncton restaurant operator, filed a notice of intention to make a proposal under the Bankruptcy and Insolvency Act on August 29, 2019 in the Court of Queen's Bench of New Brunswick, file 24494. The proceeding is active. The Form 78 statement of affairs for the business proposal, as at November 5, 2019 and estimated by Sandro Speranza, shows assets of $1,764,317.48 against liabilities of $2,988,745.61, a stated deficiency of $1,224,428.13, with secured claims of $2,535,780.00 and unsecured claims of $452,965.61. Secured positions include four CIBC accounts held c/o TECHCOM Managed Services, two Business Development Bank of Canada loans, and deemed trust claims of $228,000 by CRA and $87,500 by the New Brunswick Department of Finance against the building and land at 214 Church Street, Moncton and the 14-146 Mountain Road parking lot.