Alberta · Bankruptcy
Trustee's Report to Creditors
Court officer report · 9 October 2025
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What we verified from this filing12 verified
- appointeeMNP Ltd.
- appointee roleLicensed Insolvency Trustee
- commencement date19 September 2025
- courtIN THE COURT OF KING’S BENCH OF ALBERTA
- court file no24-3274559
- financial positionnote: Figures are the last available financial statements (FY ended Sept 30, 2023, in $000's), not updated to the date of bankruptcy; total liabilities include Long term debt, Obligations under capital lease, and Due to shareholder (a related party) in addition to Bank indebtedness (nil) and Accounts payable and accrued liabilities. · page: 3 · as at: 2023-09-30 · basis: Compiled by an independent, external accountant; the Company has not prepared financial statements for fiscal year ended September 30, 2024, nor for the stub period ending on the date of bankruptcy, September 19, 2025 · scope: Purcell Integrated Ltd. (single entity) · currency: CAD · total assets: 481000 · total liabilities: 1086000
- secured creditorsnote: Deemed trust class claim (priority over other secured claims if unpaid source deductions exist). Per p.5, Company's books indicate no amounts owing to CRA for payroll source deductions, and CRA had not filed a proof of claim as of the report date; figure is the Trustee's estimated claim per Table 3. · page: 4 · as of: date of bankruptcy · amount: 1000 · debtor: Purcell Integrated Ltd. · creditor: Canada Revenue Agency · currency: CAD · security: Deemed trust - all present and after-acquired property
- secured creditorspage: 4 · as of: date of bankruptcy · amount: 1000 · debtor: Purcell Integrated Ltd. · creditor: Ford Credit Canada Company · currency: CAD · security: Secured - specific serial numbered equipment
- secured creditorsnote: Table 3 (p.4) estimated claim was $185,000 ($000's, as at date of bankruptcy per books/records and PPR search); exact figure is per RBC's filed secured proof of claim. · page: 5 · as of: proof of claim filed · amount: 204604 · debtor: Purcell Integrated Ltd. · creditor: Royal Bank of Canada · currency: CAD · security: General security agreement over all present and after-acquired property
- secured creditorsnote: Table 3 (p.4) estimated claim was $15,000 ($000's, as at date of bankruptcy); Arundel also separately obtained a default judgment of $85,386 on 2025-09-17 (p.3). Trustee reviewed the filed secured proof of claim ($86,663) and agreed to release its interest in the collateral, without opinion as to priority or validity of competing claims. · page: 5 · as of: proof of claim filed · amount: 86663 · debtor: Purcell Integrated Ltd. · creditor: Arundel Capital Corp. · currency: CAD · security: Specific serial numbered equipment (PPSA registration)
- unsecured creditorsnote: Trustee identified 8 potential unsecured creditors; this document does not name individual creditors. A complete listing is stated to be included in a creditor package posted to the Case Website (not part of these pages). · page: 5 · basis: Trustee's identification based on the Company's books and records ('approximately $98,000') · amount: 98000 · debtor: Purcell Integrated Ltd. · creditor: Unsecured creditors (aggregate as reported) · currency: CAD
- recovery outcomeentries: basis: estimated · quote: Given the value of claims filed by secured creditors, the Trustee expects the secured creditors will suffer a shortfall(s) on their loan(s). · pct of: unstated · outcome: shortfall · class key: secured · stated by: trustee · class label: secured creditors · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: The Trustee estimates there will be no recovery to the unsecured creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: unsecured creditors · claims amount: 98000 · interim final: unstated · claims qualifier: listed · stated on: 2025-10-09 · table missing: