Alberta · Bankruptcy
Trustee's Preliminary Report
Court officer report · 26 May 2026
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 · 1 withheld
- appointeeMNP Ltd.
- appointee roleTrustee
- court file no25-3369396
- proceeding typebia_bankruptcy
- statutory basisBankruptcy and Insolvency Act (Canada)
- secured creditorsnote: Trustee's identified secured claim; one accepted proof of claim later recorded as $25,159 (rounded) as at report date (May 26, 2026) · page: 2 · as of: Filing Date · amount: 25159.5 · debtor: Magnum Machine Ltd. · creditor: National Bank of Canada · currency: CAD · security: PPSA registered security interest in Alberta against a piece of machinery
- unsecured creditorsnote: Document names no individual creditors; as at date of report, accepted proofs of claim (of 18 received, 10 accepted) totalled approximately $756,088 in unsecured claims plus one accepted secured claim of $25,159 · page: 2 · as of: Filing Date · basis: Statement of Affairs as reported by the Company (listed ordinary unsecured creditors with claims totalling approximately $2.395 million) · amount: 2395000 · debtor: Magnum Machine Ltd. · creditor: Unsecured creditors (aggregate as reported) · currency: CAD
- secured creditorsnote: Deemed trust class; identified through Trustee's review of CRA tax accounts; takes priority over administration/professional fees; CRA administration agreement not yet finalized · page: 3 · amount: 243544 · debtor: Magnum Machine Ltd. · creditor: Canada Revenue Agency · currency: CAD · security: Deemed trust over unremitted payroll source deductions
- secured creditorsnote: Trustee's estimate of Service Canada's future priority claim for unpaid wages under WEPP; separately, three employee proofs of claim totalling approximately $21,000 were received, of which approximately $18,875 is WEPP-eligible · page: 3 · as of: date of this report · amount: 6000 · debtor: Magnum Machine Ltd. · creditor: Service Canada · currency: CAD · security: Statutory super-priority charge on current assets pursuant to s.81.3(1) BIA (Wage Earners' Protection Program subrogation)
- unsecured creditorsnote: Three employee proofs of claim totalling approximately $21,000, of which approximately $18,875 is eligible under WEPP (treated as secured/priority under s.81.3(1) BIA); the balance (exact amount not stated) constitutes an unsecured claim against the Estate · page: 3 · as of: date of this report · basis: Proofs of claim filed by former employees · debtor: Magnum Machine Ltd. · creditor: Former employees (unsecured balance of WEPP claims) · currency: CAD
1 extracted value is withheld: either a trap-shaped field where models produce confident wrong numbers, or an identity value whose quotation could not be found in the document. Withheld values are shown to no one.