British Columbia · Proposal

Creditor's Package on the Proposal

Meeting materials · 17 April 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 filing1 verified

financial positionnote: Form 78 shows total liabilities of $31,746,919.73 (secured $9.00; preferred $0; unsecured $29,691,900.63; contingent/trust/other $2,055,010.10) and a deficiency of $29,406,205.73 (the form's 'Surplus' line shows the same figure). Trustee's report Section F shows the Statement of Affairs creditor summary as CRA source deductions $3,411,009, secured debt $5,189,146, unsecured debt $23,146,756, total $31,746,911. Trustee's report Section E shows book value total assets of $21,103,330, including Intercompany Receivable $5,537,834 (which Management says should be nil), Warranty Receivable $4,001,152 and Inventory $9,887,046. The XCMG Claim is carried at nominal value. · as at: 2026-04-10 · basis: Debtor's Form 78 Statement of Affairs (management estimates, original, sworn by Ryan Michael Martin); assets are stated at estimated realizable value (inventory $2,035,000), while the Proposal Trustee's report shows book value of total assets of $21,103,330 and estimated net realizations of $1,982,004 to $2,197,355 in a bankruptcy scenario; the Trustee notes the Company's accounting records are not up to date in all respects. · scope: Artic Machinery Ltd. only (single entity, non-consolidated) · currency: CAD · total assets: 2340714 · total liabilities: 31746919.73