British Columbia · Bankruptcy
Bench - Notice of Application dated March 10, 2025
Application / notice of application · 10 March 2025
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing10 verified
- applicantKSV Restructuring Inc.
- appointeeKSV Restructuring Inc.
- appointee rolelicensed insolvency trustee
- commencement date10 March 2025
- courtIN THE SUPREME COURT OF BRITISH COLUMBIA IN BANKRUPTCY AND INSOLVENCY
- court file noB-250050
- provinceBritish Columbia
- financial positionnote: Accumulated deficit of USD $146 million also stated. · page: 3 · as at: 2025-01-07 · basis: as stated by Trustee (Filing Date figures) · scope: combined - Bench Accounting, Inc. and 10Sheet Services Inc. (the Companies) · currency: USD · total assets: 5100000 · total liabilities: 51500000
- secured creditorsnote: Described as the Companies' senior secured creditor; credit agreements governed by BC law; no balance amount stated in these pages. · page: 3 · debtor: Bench Accounting, Inc. (borrower); 10Sheet Services Inc. (guarantor) · creditor: National Bank of Canada (NBC) · currency: USD
- secured creditorsnote: iNovia is an investor in Bench (related party); secured but subordinated to NBC. · page: 7 · as of: Filing Date (2025-01-07) · amount: 5600000 · debtor: Bench Accounting, Inc. and 10Sheet Services Inc. · creditor: iNovia Capital Inc., as collateral agent · currency: USD · security: Subordinated secured convertible promissory notes issued September 28, 2023