Ontario · Receivership (court-appointed)
Notice of bankruptcy, First meeting of creditors – dated October 14, 2026
Notice to creditors · 14 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 filing20 verified
- financial positionnote: Sole asset is a 1.00 placeholder line (Cash on hand); all other asset categories 0.00. Unsecured creditors 6,665,911.57 plus 1.00 placeholder = total liabilities 6,665,912.57; deficiency stated as -6,665,911.57. Reasons for financial difficulty ticked: legal matters, lack of working capital/funding, faulty accounting. Bankruptcy (assignment) filed October 13, 2026 per the notice; Form 78 states the date of bankruptcy as October 9, 2026 and Form 31 (English) states October 13, 2026 — dates inconsistent in the document. Trustee: Richter Inc. · page: 23 · as at: 2026-10-09 · basis: Form 78 Statement of Affairs (original), figures declared and estimated by the bankrupt; sworn by Andrew Adessky, LIT, Richter Inc., Receiver of Rotalec Canada Inc. · scope: Rotalec Canada Inc. (single entity) · currency: CAD · total assets: 1 · total liabilities: 6665912.57
- unsecured creditorsnote: Aggregate figure; the itemised creditor list is partly on pages not provided. Includes BDC Capital Inc. 433,000.00 (see secured entry). Proofs of claim not yet filed (first meeting of creditors October 23, 2026). · page: 23 · as of: 2026-10-09 · basis: Form 78 Statement of Affairs, total of unsecured creditors as declared and estimated by the bankrupt (sworn by Andrew Adessky, Richter Inc. as Receiver). Total liabilities 6,665,912.57 including a 1.00 placeholder line; contingent/trust claims and priority lines are 0.00. · amount: 6665911.57 · debtor: Rotalec Canada Inc. · creditor: Unsecured creditors (aggregate as reported in Statement of Affairs) · currency: CAD
- secured creditorsnote: Listed in the Statement of Affairs (Form 78) liabilities as 'Finance Company Loans' with an estimated deficit from security of -433,000.00, i.e. no realizable security value declared; the Form 78 summary shows secured creditors at 0.00 and the full amount appears under unsecured creditors. Nature of security not stated on the pages provided. A second BDC Capital Inc. line (no. 15) shows 0.00. · page: 26 · as of: 2026-10-09 · amount: 433000 · debtor: Rotalec Canada Inc. · creditor: BDC Capital Inc. · currency: CAD
- unsecured creditorspage: 26 · as of: 2026-10-09 · basis: Form 78 as reported, accounts payable · amount: 43971.01 · debtor: Rotalec Canada Inc. · creditor: Amex Bank of Canada · currency: CAD
- unsecured creditorsnote: A separate 'Banner USD' line of 35,229.92 is also listed. · page: 27 · as of: 2026-10-09 · basis: Form 78 as reported, accounts payable · amount: 189918.28 · debtor: Rotalec Canada Inc. · creditor: Banner Canada Distribution Ltd · currency: CAD
- unsecured creditorsnote: Line labelled 'USD'; currency of the stated amount not specified in the document (Form 78 totals in CAD). · page: 27 · as of: 2026-10-09 · basis: Form 78 as reported, accounts payable · amount: 35229.92 · debtor: Rotalec Canada Inc. · creditor: Banner USD · currency: CAD
- unsecured creditorspage: 32 · as of: 2026-10-09 · basis: Form 78 as reported, accounts payable · amount: 310384.66 · debtor: Rotalec Canada Inc. · creditor: Fortress Interlocks Ltd. · currency: CAD
- unsecured creditorspage: 32 · as of: 2026-10-09 · basis: Form 78 as reported, accounts payable · amount: 1104173 · debtor: Rotalec Canada Inc. · creditor: FSTQ · currency: CAD
- unsecured creditorspage: 34 · as of: 2026-10-09 · basis: Form 78 as reported, accounts payable · amount: 87395.4 · debtor: Rotalec Canada Inc. · creditor: Ingenico Canada Ltd. · currency: CAD
- unsecured creditorspage: 35 · as of: 2026-10-09 · basis: Form 78 as reported, accounts payable · amount: 86404.36 · debtor: Rotalec Canada Inc. · creditor: Marsh Canada Limitée · currency: CAD
- unsecured creditorspage: 36 · as of: 2026-10-09 · basis: Form 78 as reported, accounts payable · amount: 189419.95 · debtor: Rotalec Canada Inc. · creditor: Mobile Industrial Robots A/S · currency: CAD
- unsecured creditorsnote: Governmental claim; listed as unsecured with no priority declared. · page: 36 · as of: 2026-10-09 · basis: Form 78 as reported, listed as accounts payable · amount: 32410.92 · debtor: Rotalec Canada Inc. · creditor: Ministry of Finance of Ontario · currency: CAD
- unsecured creditorsnote: Quasi-governmental claim (sales tax/source deductions); listed by the debtor as unsecured accounts payable with no priority or deemed-trust amount declared (priority column 0.00). · page: 39 · as of: 2026-10-09 · basis: Form 78 as reported, listed as accounts payable · amount: 63386.99 · debtor: Rotalec Canada Inc. · creditor: Revenu Québec (TPS, TVQ, DAS) · currency: CAD
- unsecured creditorsnote: Quasi-governmental claim (Canada Revenue Agency); listed by the debtor as unsecured accounts payable with no deemed-trust or priority amount declared. · page: 39 · as of: 2026-10-09 · basis: Form 78 as reported, listed as accounts payable · amount: 22737.82 · debtor: Rotalec Canada Inc. · creditor: Revenu Canada · currency: CAD
- unsecured creditorspage: 39 · as of: 2026-10-09 · basis: Form 78 as reported, accounts payable · amount: 60810.4 · debtor: Rotalec Canada Inc. · creditor: RFID Inc. · currency: CAD
- unsecured creditorspage: 39 · as of: 2026-10-09 · basis: Form 78 as reported, accounts payable · amount: 44722.47 · debtor: Rotalec Canada Inc. · creditor: Robotunits, Inc. · currency: CAD
- unsecured creditorsnote: Name suggests an affiliate of the debtor; relationship not stated on these pages. · page: 39 · as of: 2026-10-09 · basis: Form 78 as reported, accounts payable · amount: 14402.49 · debtor: Rotalec Canada Inc. · creditor: Rotalec USA · currency: CAD
- unsecured creditorsnote: Individual; listed as accounts payable. · page: 39 · as of: 2026-10-09 · basis: Form 78 as reported, accounts payable · amount: 200000 · debtor: Rotalec Canada Inc. · creditor: Ruhi Buchh · currency: CAD
- unsecured creditorspage: 39 · as of: 2026-10-09 · basis: Form 78 as reported, accounts payable · amount: 80051.48 · debtor: Rotalec Canada Inc. · creditor: Red Lion Controls Inc. · currency: CAD
- financial positionnote: Assets consist of cash on hand of $1.00 only; all other asset lines are 0.00. Liabilities: secured creditors 1.00, preferred creditors 0.00, unsecured creditors 6,665,911.57, contingent/trust claims 0.00. The statement reports a deficiency of -6,665,911.57 and, inconsistently, a 'Surplus' of 6,665,911.57. · as at: 2026-10-09 · basis: Statement of Affairs (Form 78) as stated and estimated by the bankrupt/debtor, sworn by Andrew Adessky of Richter Inc. · scope: Rotalec Canada Inc. (single entity, corporate bankruptcy) · currency: CAD · total assets: 1 · total liabilities: 6665912.57