Ontario · Bankruptcy
Toronto Statement of Affairs.pdf
Statement of affairs · 1 October 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 filing37 verified
- financial positionnote: Form shows 'Surplus' of 19,642,139.21 on the liabilities side, but the assets page shows 'Deficiency' of -19,642,139.21; the figure is a deficiency (liabilities exceed assets). Many creditor lines and some assets (accounts receivable, intangibles, other) are carried at nominal $1.00 placeholder values. Reason for financial difficulty ticked: lack of working capital/funding. Total liabilities as stated sum 19,670,264.45. · page: 1 · as at: 2026-10-01 · basis: Form 78 Statement of Affairs (Corporate Bankruptcy), original, sworn remotely by Andrew Mangion on 1 October 2026; asset values are the bankrupt's stated/estimated values. Form reports secured creditors 0.00, preferred creditors 0.00, contingent/trust claims 0.00; all liabilities listed as unsecured. · scope: Single entity: EC Toronto Language Center Ltd. (bankrupt corporation, Toronto, Ontario); trustee Grant Thornton Limited (Jonathan Krieger) · currency: CAD · total assets: 28125.24 · total liabilities: 19670264.45
- unsecured creditorspage: 3 · as of: 2026-10-01 · basis: Form 78 Statement of Affairs, sworn by director; accounts payable · amount: 53797.04 · debtor: EC Toronto Language Center Ltd. · creditor: Avison Young Real Estate · currency: CAD
- unsecured creditorspage: 3 · as of: 2026-10-01 · basis: Form 78 Statement of Affairs, sworn by director; accounts payable · amount: 367.25 · debtor: EC Toronto Language Center Ltd. · creditor: Beanfield Fibre 1 LP · currency: CAD
- unsecured creditorsnote: Placeholder $1.00 entry; actual amount not stated · page: 3 · as of: 2026-10-01 · basis: Form 78 Statement of Affairs; accounts payable · amount: 1 · debtor: EC Toronto Language Center Ltd. · creditor: Bell · currency: CAD
- unsecured creditorsnote: Placeholder $1.00 entry; actual amount not stated · page: 3 · as of: 2026-10-01 · basis: Form 78 Statement of Affairs; accounts payable · amount: 1 · debtor: EC Toronto Language Center Ltd. · creditor: BFL Canada Risk & Ins Svcs · currency: CAD
- unsecured creditorsnote: Placeholder $1.00 entry; actual amount not stated · page: 3 · as of: 2026-10-01 · basis: Form 78 Statement of Affairs; accounts payable · amount: 1 · debtor: EC Toronto Language Center Ltd. · creditor: Canadian Student Communities · currency: CAD
- unsecured creditorspage: 3 · as of: 2026-10-01 · basis: Form 78 Statement of Affairs, sworn by director; accounts payable · amount: 1765.06 · debtor: EC Toronto Language Center Ltd. · creditor: Cengage · currency: CAD
- unsecured creditorsnote: Appears to be an affiliated EC-group entity (related party not expressly stated) · page: 3 · as of: 2026-10-01 · basis: Form 78 Statement of Affairs, sworn by director; accounts payable · amount: 2902923 · debtor: EC Toronto Language Center Ltd. · creditor: Centre de Langues EC Montreal Ltd · currency: CAD
- unsecured creditorsnote: Placeholder $1.00 entry; actual amount not stated. Listed in unsecured column; no deemed trust or priority designation made on the form · page: 3 · as of: 2026-10-01 · basis: Form 78 Statement of Affairs; nature of liability 'Corporate taxes' · amount: 1 · debtor: EC Toronto Language Center Ltd. · creditor: CRA · currency: CAD
- unsecured creditorspage: 3 · as of: 2026-10-01 · basis: Form 78 Statement of Affairs, sworn by director; accounts payable · amount: 8362 · debtor: EC Toronto Language Center Ltd. · creditor: 2011399 Ontario Ltd. · currency: CAD
- unsecured creditorsnote: Apparent affiliate/related party (same address as debtor, Suite 200-124 Eglinton Ave W); relationship not expressly stated · page: 4 · as of: 2026-10-01 · basis: Form 78 Statement of Affairs, sworn by director; accounts payable · amount: 8008686 · debtor: EC Toronto Language Center Ltd. · creditor: EC English Holdings Ltd. · currency: CAD
- unsecured creditorsnote: Apparent affiliate/related party (same address as debtor); relationship not expressly stated · page: 4 · as of: 2026-10-01 · basis: Form 78 Statement of Affairs, sworn by director; accounts payable · amount: 596813 · debtor: EC Toronto Language Center Ltd. · creditor: EC English Malta Ltd · currency: CAD
- unsecured creditorsnote: Apparent affiliate/related party (same address as debtor); relationship not expressly stated · page: 4 · as of: 2026-10-01 · basis: Form 78 Statement of Affairs, sworn by director; accounts payable · amount: 565294 · debtor: EC Toronto Language Center Ltd. · creditor: EC Holdings Ltd. · currency: CAD
- unsecured creditorsnote: Apparent affiliate/related party (same address as debtor); relationship not expressly stated · page: 4 · as of: 2026-10-01 · basis: Form 78 Statement of Affairs, sworn by director; accounts payable · amount: 32951 · debtor: EC Toronto Language Center Ltd. · creditor: EC UK English · currency: CAD
- unsecured creditorsnote: Apparent affiliate/related party (EC group); relationship not expressly stated · page: 4 · as of: 2026-10-01 · basis: Form 78 Statement of Affairs, sworn by director; accounts payable · amount: 7244782 · debtor: EC Toronto Language Center Ltd. · creditor: EC Vancouver Language Centre Limited · currency: CAD
- unsecured creditorsnote: Placeholder $1.00 entry for employees as a class; actual amount not stated. Listed in unsecured column with no preferred designation · page: 4 · as of: 2026-10-01 · basis: Form 78 Statement of Affairs; nature of liability 'Other' · amount: 1 · debtor: EC Toronto Language Center Ltd. · creditor: Employees · currency: CAD
- unsecured creditorsnote: Details field reads 'Employee' · page: 4 · as of: 2026-10-01 · basis: Form 78 Statement of Affairs, sworn by director; accounts payable · amount: 115793.5 · debtor: EC Toronto Language Center Ltd. · creditor: Fourstay Inc · currency: CAD
- unsecured creditorspage: 5 · as of: 2026-10-01 · basis: Form 78 Statement of Affairs, sworn by director; accounts payable · amount: 26349 · debtor: EC Toronto Language Center Ltd. · creditor: ISX Tours LLC · currency: CAD
- unsecured creditorspage: 5 · as of: 2026-10-01 · basis: Form 78 Statement of Affairs, sworn by director; accounts payable · amount: 3845 · debtor: EC Toronto Language Center Ltd. · creditor: Harrington Housing Inc · currency: CAD
- unsecured creditorspage: 5 · as of: 2026-10-01 · basis: Form 78 Statement of Affairs, sworn by director; accounts payable · amount: 13054.62 · debtor: EC Toronto Language Center Ltd. · creditor: Kanish & Partners LLP · currency: CAD
- unsecured creditorsnote: Placeholder $1.00 entry; actual amount not stated · page: 5 · as of: 2026-10-01 · basis: Form 78 Statement of Affairs; accounts payable · amount: 1 · debtor: EC Toronto Language Center Ltd. · creditor: Languages Canada Association · currency: CAD
- unsecured creditorsnote: Same address as debtor (Suite 200-124 Eglinton Ave W); possible related party, not expressly stated · page: 5 · as of: 2026-10-01 · basis: Form 78 Statement of Affairs, sworn by director; accounts payable · amount: 86881 · debtor: EC Toronto Language Center Ltd. · creditor: LSC International College · currency: CAD
- unsecured creditorspage: 5 · as of: 2026-10-01 · basis: Form 78 Statement of Affairs, sworn by director; accounts payable · amount: 616 · debtor: EC Toronto Language Center Ltd. · creditor: McCarthy Tetrault LLP · currency: CAD
- unsecured creditorsnote: Placeholder $1.00 entry; actual amount not stated; no priority designation on the form · page: 5 · as of: 2026-10-01 · basis: Form 78 Statement of Affairs; nature of liability 'Corporate taxes' · amount: 1 · debtor: EC Toronto Language Center Ltd. · creditor: Minister of Finance (Ontario) · currency: CAD
- unsecured creditorsnote: Placeholder $1.00 entry; actual amount not stated; address in Surrey BC; no priority designation on the form · page: 5 · as of: 2026-10-01 · basis: Form 78 Statement of Affairs; nature of liability 'Corporate taxes' · amount: 1 · debtor: EC Toronto Language Center Ltd. · creditor: Ministry of Finance (British Columbia) · currency: CAD
- unsecured creditorspage: 5 · as of: 2026-10-01 · basis: Form 78 Statement of Affairs, sworn by director; accounts payable · amount: 3440.84 · debtor: EC Toronto Language Center Ltd. · creditor: MNP LLP · currency: CAD
- unsecured creditorsnote: Placeholder $1.00 entry; actual amount not stated · page: 6 · as of: 2026-10-01 · basis: Form 78 Statement of Affairs; accounts payable · amount: 1 · debtor: EC Toronto Language Center Ltd. · creditor: Onon Assessment Services · currency: CAD
- unsecured creditorsnote: Placeholder $1.00 entry; actual amount not stated · page: 6 · as of: 2026-10-01 · basis: Form 78 Statement of Affairs; accounts payable · amount: 1 · debtor: EC Toronto Language Center Ltd. · creditor: Quench Canada · currency: CAD
- unsecured creditorsnote: Placeholder $1.00 entry; actual amount not stated; listed in unsecured column with no priority designation · page: 6 · as of: 2026-10-01 · basis: Form 78 Statement of Affairs; nature of liability 'Severance pay' (ESDC-Trustee Payments) · amount: 1 · debtor: EC Toronto Language Center Ltd. · creditor: Receiver General of Canada · currency: CAD
- unsecured creditorsnote: Placeholder $1.00 entry for students as a class; actual amount not stated · page: 6 · as of: 2026-10-01 · basis: Form 78 Statement of Affairs; nature of liability 'Other' · amount: 1 · debtor: EC Toronto Language Center Ltd. · creditor: Students · currency: CAD
- unsecured creditorsnote: Placeholder $1.00 entry; actual amount not stated · page: 6 · as of: 2026-10-01 · basis: Form 78 Statement of Affairs; accounts payable · amount: 1 · debtor: EC Toronto Language Center Ltd. · creditor: STUDY CELTA · currency: CAD
- unsecured creditorsnote: Placeholder $1.00 entry; actual amount not stated · page: 6 · as of: 2026-10-01 · basis: Form 78 Statement of Affairs; accounts payable · amount: 1 · debtor: EC Toronto Language Center Ltd. · creditor: Temple and Temple Tours Inc. · currency: CAD
- unsecured creditorspage: 6 · as of: 2026-10-01 · basis: Form 78 Statement of Affairs, sworn by director; accounts payable · amount: 376.93 · debtor: EC Toronto Language Center Ltd. · creditor: The Empire Life Insurance Company · currency: CAD
- unsecured creditorspage: 6 · as of: 2026-10-01 · basis: Form 78 Statement of Affairs, sworn by director; accounts payable · amount: 2455.76 · debtor: EC Toronto Language Center Ltd. · creditor: Unifor (Local 87-M) · currency: CAD
- unsecured creditorspage: 6 · as of: 2026-10-01 · basis: Form 78 Statement of Affairs, sworn by director; accounts payable · amount: 1696.45 · debtor: EC Toronto Language Center Ltd. · creditor: Xerox Canada Ltd. · currency: CAD
- unsecured creditorsnote: Placeholder $1.00 entry; actual amount not stated · page: 7 · as of: 2026-10-01 · basis: Form 78 Statement of Affairs; accounts payable · amount: 1 · debtor: EC Toronto Language Center Ltd. · creditor: York University · currency: CAD
- secured creditors