Newfoundland and Labrador · NOI

Trustee's Third Report to Court

Court officer report · 27 July 2026

What we verified from this filing1 verified

unsecured creditorsnote: Amount not quantified in this report. The Company disputes CRA's notional assessments as not accurately reflecting the true debt owing; all outstanding corporate tax returns are being filed and Management expects no corporate tax will be owing from these filings. Pre-filing, CRA garnished the Company's bank accounts to collect estimated taxes in arrears. The Trustee expects CRA to submit an amended/revised proof of claim following its payroll trust examination and the Company's amended HST and corporate tax filings, which may be materially different from the original claim. The quantum of CRA's claim under s.60(1.1) of the BIA (source-deduction / payroll deemed-trust class, payable in full within six months of an approved proposal unless CRA agrees otherwise) is stated to be material to the eventual proposal. Claim disputed and unascertained. · page: 3 · basis: CRA issued notional assessments for the Company's unfiled returns (period January 2019 to December 2025) and filed a proof of claim in the NOI proceedings · debtor: C&E Group Ltd. · creditor: Canada Revenue Agency · currency: CAD