Quebec · Bankruptcy

Notice of Bankruptcy and First Meeting of Creditors

Notice to creditors · 20 March 2026

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financial positionnote: Reported deficit of $729,405.92. Passif breakdown: secured creditors $287,111.11; preferred/priority creditors $0.00; unsecured creditors $1,039,132.66; contingent/trust claims $0.00. · page: 2 · as at: 2026-03-17 · basis: Statement of Affairs (Form 78) — total of the list of assets/liabilities as declared and estimated by the bankrupt/debtor · scope: Centre de Peintures Picasso inc. (single entity, non-consolidated) · currency: CAD · total assets: 596837.85 · total liabilities: 1326243.77
secured creditorsnote: Inter-company loan (prêts entre entreprises liées) — related party. Estimated surplus on security $63,884.96. · page: 4 · as of: 2026-03-17 · amount: 40115.04 · debtor: Centre de Peintures Picasso inc. · creditor: 9152-3431 Québec inc. · currency: CAD · security: Chargeuse Case 21F (2015), VIN FNH021FSNFHP00222 (asset item #803)
unsecured creditorsnote: Bank loan 229695-01 (excludes mortgages on immovables). · page: 4 · as of: 2026-03-17 · basis: Statement of Affairs (Form 78) as declared and estimated by the bankrupt · amount: 212160 · debtor: Centre de Peintures Picasso inc. · creditor: Banque de développement du Canada · currency: CAD
unsecured creditorsnote: Trade accounts payable, ref 320359. · page: 4 · as of: 2026-03-17 · basis: Statement of Affairs (Form 78) as declared and estimated by the bankrupt · amount: 6369.63 · debtor: Centre de Peintures Picasso inc. · creditor: ACCEO Solutions Inc. Division OGC · currency: CAD
unsecured creditorsnote: Deemed trust class (Revenu Québec) — corporate tax, February return. · page: 4 · as of: 2026-03-17 · basis: Statement of Affairs (Form 78) as declared and estimated by the bankrupt · amount: 1252.64 · debtor: Centre de Peintures Picasso inc. · creditor: Agence du revenu du Québec · currency: CAD
secured creditorsnote: Loan 0105190-MC2. Claim bifurcated secured/unsecured: unsecured portion of $213,688.05 also claimed by same creditor (total claim $280,397.17). Estimated deficiency on security -$213,688.05. · page: 5 · as of: 2026-03-17 · amount: 66709.12 · debtor: Centre de Peintures Picasso inc. · creditor: Caisse Desjardins de l'Est de l'Abitibi · currency: CAD · security: Asset items #101 (bank deposit) and #1301 (accounts receivable)
unsecured creditorsnote: Trade accounts payable, ref 6141561. · page: 5 · as of: 2026-03-17 · basis: Statement of Affairs (Form 78) as declared and estimated by the bankrupt · amount: 126.42 · debtor: Centre de Peintures Picasso inc. · creditor: Cablevision du Nord de Québec inc. · currency: CAD
unsecured creditorsnote: Accord D - Plan 001. · page: 5 · as of: 2026-03-17 · basis: Statement of Affairs (Form 78) as declared and estimated by the bankrupt · amount: 85936.3 · debtor: Centre de Peintures Picasso inc. · creditor: Caisse Desjardins de l'Est de l'Abitibi · currency: CAD
unsecured creditorsnote: Loan 0105190-MC2 — unsecured portion of a bifurcated claim; secured portion of $66,709.12 also claimed (total claim $280,397.17). · page: 5 · as of: 2026-03-17 · basis: Statement of Affairs (Form 78) as declared and estimated by the bankrupt · amount: 213688.05 · debtor: Centre de Peintures Picasso inc. · creditor: Caisse Desjardins de l'Est de l'Abitibi · currency: CAD
unsecured creditorsnote: Prêt CUEC 0105190-PR3. · page: 5 · as of: 2026-03-17 · basis: Statement of Affairs (Form 78) as declared and estimated by the bankrupt · amount: 12402.12 · debtor: Centre de Peintures Picasso inc. · creditor: Caisse Desjardins de l'Est de l'Abitibi · currency: CAD
unsecured creditorsnote: Accord D - Plan 002. · page: 5 · as of: 2026-03-17 · basis: Statement of Affairs (Form 78) as declared and estimated by the bankrupt · amount: 10145.67 · debtor: Centre de Peintures Picasso inc. · creditor: Caisse Desjardins de l'Est de l'Abitibi · currency: CAD
unsecured creditorsnote: Bank loan 229695-02 (excludes mortgages on immovables). · page: 5 · as of: 2026-03-17 · basis: Statement of Affairs (Form 78) as declared and estimated by the bankrupt · amount: 39583.08 · debtor: Centre de Peintures Picasso inc. · creditor: Banque de développement du Canada · currency: CAD
secured creditorsnote: Prêt Flex 25610. Claim bifurcated secured/unsecured: unsecured portion of $27,414.85 also claimed by same creditor (total claim $125,414.85). Estimated deficiency on security -$27,414.85. · page: 6 · as of: 2026-03-17 · amount: 98000 · debtor: Centre de Peintures Picasso inc. · creditor: Journey Capital · currency: CAD · security: Asset items #1101, #1102, #1103 (business fixtures/equipment - mobile, warehouse-store, paint dept.)
unsecured creditorsnote: Prêt Flex 25610 — unsecured portion of a bifurcated claim; secured portion of $98,000.00 also claimed (total claim $125,414.85). · page: 6 · as of: 2026-03-17 · basis: Statement of Affairs (Form 78) as declared and estimated by the bankrupt · amount: 27414.85 · debtor: Centre de Peintures Picasso inc. · creditor: Journey Capital · currency: CAD
unsecured creditorsnote: Trade accounts payable, ref 782641. · page: 6 · as of: 2026-03-17 · basis: Statement of Affairs (Form 78) as declared and estimated by the bankrupt · amount: 335.34 · debtor: Centre de Peintures Picasso inc. · creditor: JRTECH Solutions · currency: CAD
unsecured creditorsnote: Finance-company loan 3124409-IC-2. · page: 6 · as of: 2026-03-17 · basis: Statement of Affairs (Form 78) as declared and estimated by the bankrupt · amount: 2591.01 · debtor: Centre de Peintures Picasso inc. · creditor: CWB National Leasing Inc. (formerly National Leasing Group Inc) · currency: CAD
unsecured creditorsnote: Trade accounts payable, ref 825-4687. · page: 6 · as of: 2026-03-17 · basis: Statement of Affairs (Form 78) as declared and estimated by the bankrupt · amount: 996.34 · debtor: Centre de Peintures Picasso inc. · creditor: DFM · currency: CAD
unsecured creditorsnote: Utility account 41005584903. · page: 6 · as of: 2026-03-17 · basis: Statement of Affairs (Form 78) as declared and estimated by the bankrupt · amount: 1414.83 · debtor: Centre de Peintures Picasso inc. · creditor: ÉNERGIR (formerly Gaz Métropolitain) · currency: CAD
unsecured creditorsnote: Finance-company credit bail 15CA2. · page: 6 · as of: 2026-03-17 · basis: Statement of Affairs (Form 78) as declared and estimated by the bankrupt · amount: 37984.5 · debtor: Centre de Peintures Picasso inc. · creditor: Grenke · currency: CAD
unsecured creditorsnote: Business credit line 24066. · page: 6 · as of: 2026-03-17 · basis: Statement of Affairs (Form 78) as declared and estimated by the bankrupt · amount: 34668.68 · debtor: Centre de Peintures Picasso inc. · creditor: Journey Capital · currency: CAD
secured creditorsnote: Loan 18795-30. Estimated surplus on security $50,245.08. · page: 7 · as of: 2026-03-17 · amount: 63754.92 · debtor: Centre de Peintures Picasso inc. · creditor: Société d'aide au développement de la collectivité de la Vallée-de-l'Or · currency: CAD · security: Asset items #801, #802, #803 (vehicles)
secured creditorsnote: Nominal $1 secured claim, no surplus. · page: 7 · as of: 2026-03-17 · amount: 1 · debtor: Centre de Peintures Picasso inc. · creditor: NL LP · currency: CAD · security: Asset item #501 (computer software, intangible)
secured creditorsnote: Credit bail 100814. Estimated surplus on security $4,468.97. · page: 7 · as of: 2026-03-17 · amount: 18531.03 · debtor: Centre de Peintures Picasso inc. · creditor: LBC Leasing Limited Partnership · currency: CAD · security: Asset item #502 (computer materials under finance lease)
unsecured creditorsnote: Trade accounts payable, refs 10010305/10010320. · page: 7 · as of: 2026-03-17 · basis: Statement of Affairs (Form 78) as declared and estimated by the bankrupt · amount: 3847.64 · debtor: Centre de Peintures Picasso inc. · creditor: Lanoix & Jeanson · currency: CAD
unsecured creditorsnote: Trade accounts payable, ref 147374. · page: 7 · as of: 2026-03-17 · basis: Statement of Affairs (Form 78) as declared and estimated by the bankrupt · amount: 5057.42 · debtor: Centre de Peintures Picasso inc. · creditor: Les Entreprises Roofmart Ltée · currency: CAD
unsecured creditorsnote: Trade accounts payable, ref 1036612; same firm name as the estate's own trustee (MNP Ltée) — potential related-party/conflict, not otherwise explained in the document. · page: 7 · as of: 2026-03-17 · basis: Statement of Affairs (Form 78) as declared and estimated by the bankrupt · amount: 4406.41 · debtor: Centre de Peintures Picasso inc. · creditor: MNP · currency: CAD
unsecured creditorsnote: Trade accounts payable, ref C00143. · page: 7 · as of: 2026-03-17 · basis: Statement of Affairs (Form 78) as declared and estimated by the bankrupt · amount: 116741.16 · debtor: Centre de Peintures Picasso inc. · creditor: Peintures MF · currency: CAD
unsecured creditorsnote: Trade accounts payable, refs H51320/H51304/H51305. · page: 7 · as of: 2026-03-17 · basis: Statement of Affairs (Form 78) as declared and estimated by the bankrupt · amount: 8786.88 · debtor: Centre de Peintures Picasso inc. · creditor: Portes Levasseur · currency: CAD
unsecured creditorsnote: Trade accounts payable, ref 2360. · page: 7 · as of: 2026-03-17 · basis: Statement of Affairs (Form 78) as declared and estimated by the bankrupt · amount: 5989.3 · debtor: Centre de Peintures Picasso inc. · creditor: Les Distributions BMB (1985) s.e.c. · currency: CAD
unsecured creditorsnote: Business credit card account. · page: 8 · as of: 2026-03-17 · basis: Statement of Affairs (Form 78) as declared and estimated by the bankrupt · amount: 11622.09 · debtor: Centre de Peintures Picasso inc. · creditor: Visa Desjardins · currency: CAD
unsecured creditorsnote: Second business credit card account. · page: 8 · as of: 2026-03-17 · basis: Statement of Affairs (Form 78) as declared and estimated by the bankrupt · amount: 8794.11 · debtor: Centre de Peintures Picasso inc. · creditor: Visa Desjardins · currency: CAD
unsecured creditorsnote: Finance-company loan 8039. · page: 8 · as of: 2026-03-17 · basis: Statement of Affairs (Form 78) as declared and estimated by the bankrupt · amount: 186818.19 · debtor: Centre de Peintures Picasso inc. · creditor: Timber Mart · currency: CAD