EC Toronto and EC Vancouver: the largest creditors share the EC name

The second-largest creditor on the list that EC Toronto Language Centre Limited swore to on October 1, 2026 is another language centre: EC Vancouver Language Centre Ltd., entered at $7,244,782.00, item 14 of 35. The Toronto company's bankruptcy, on an assignment under s. 49 of the Bankruptcy and Insolvency Act, dates from 12:31 p.m. on October 6. The Vancouver company's own dates from 7:52 a.m. on October 7, and the official receiver's certificates show Grant Thornton Limited appointed trustee of both estates, per the Statement of Affairs (EC Toronto), Oct. 1, 2026, pp. 4, 7, the Certificate of Appointment, Oct. 6, 2026 and the Certificate of Appointment (EC Vancouver), Oct. 7, 2026.

The figures here come from two statements of affairs signed by Andrew Mangion, the officer of the Toronto company to whom the trustee addressed its notice of the creditors' meeting, per the Notice to Officer (Form 66), Oct. 6, 2026. He swore both on October 1, remotely, from St. Julian's, Malta, per the Statement of Affairs (EC Toronto), p. 7 and the Creditor Package (EC Vancouver), Oct. 8, 2026, Statement of Affairs, p. 12.

What the two companies held

Toronto's statement lists assets of $28,125.24, chiefly $17,642.24 across seven Royal Bank of Canada accounts, $8,936.00 of leasehold improvements and $1,545.00 of computer equipment. Against that it lists $19,670,264.45 of liabilities, all of it entered as unsecured, and a deficiency of $19,642,139.21, per the Statement of Affairs (EC Toronto), pp. 1–2. Vancouver's lists assets of $20,152.50, of which $9,669.50 sits in a single Royal Bank business account, against liabilities of $16,788,053.80 and a deficiency of $16,767,901.30, per the Creditor Package (EC Vancouver), pp. 4–5.

The names at the top of each list

In Toronto, the five largest claims are held by companies with EC in their names: EC English Holdings Ltd. at $8,008,686.00, EC Vancouver at $7,244,782.00, Centre de Langues EC Montreal Ltd at $2,902,923.00, EC English Malta Ltd at $596,813.00 and EC Holdings Ltd. at $565,294.00. A sixth, EC UK English, is entered at $32,951.00; all six are classed as accounts payable. The largest claim held by a creditor without the EC name is Fourstay Inc.'s, at $115,793.50, followed by LSC International College at $86,881.00 and Avison Young Real Estate at $53,797.04, per the Statement of Affairs (EC Toronto), pp. 3–5, items 2, 8, 10–14, 16, 21.

Vancouver's list runs to 43 entries and is led by EC English Holdings Ltd, at $9,364,390.67, then Centre de Langues EC Montreal Ltd at $4,739,976.57 and EC Canada Holdings Ltd at $1,108,541.97. Study Group Canada Ltd comes fourth, at $655,738.40, ahead of EC English Malta Ltd at $597,263.37, Fourstay at $128,780.99 and EC UK English at $68,448.66, per the Creditor Package (EC Vancouver), pp. 7–8, 10, items 9–13, 17, 36.

Both lists also carry entries at $1.00. Toronto's include the Canada Revenue Agency, York University, the Receiver General of Canada for "Severance pay", and two lines entered only as "Employees" and "Students"; Vancouver's include BC Hydro, WorkSafeBC and the same two lines, per the Statement of Affairs (EC Toronto), pp. 3–7, items 9, 15, 28, 29, 35 and the Creditor Package (EC Vancouver), pp. 6, 8, 10–11, items 3, 15, 35, 41.

One secured creditor appears across the two statements. Toronto's secured line is $0.00. Vancouver's lists Meridian OneCap Credit Corp (BC) as secured for $1.00, with September 22, 2026 in the column headed "Date given/incurred" and asset No. 101, the Royal Bank business account, as the asset securing it, per the Statement of Affairs (EC Toronto), p. 1 and the Creditor Package (EC Vancouver), pp. 4–5, 9, item 25.

One box in Toronto, five in Vancouver

Form 78 sets out reasons for financial difficulty as boxes to tick, with a line for "relevant details", and Toronto ticked one, "Lack of Working Capital/Funding". Vancouver ticked that and four more: "Negative market conditions", "Economic Downturn", "Legislated or Regulatory Restrictions" and "Increased Cost of Doing Business". The details line is blank on both forms, per the Statement of Affairs (EC Toronto), p. 1 and the Creditor Package (EC Vancouver), p. 4.

What the company told its staff

What the company told its staff is in a company-prepared question-and-answer sheet, undated and headed "EC Canada – Frequently Asked Questions". In it the company told staff that the final day of employment for all Canadian employees would be September 18, 2026, and that "Empire Life benefits will end September 30th," per the Company Prepared FAQs – Employees, p. 1.

The sheet calls the WEPP program "a government assistance program" that "covers up to $9,275 of what is owed." Severance, the company said, does not survive bankruptcy but is WEPP eligible, so "you will not receive anything for severance from EC or its directors," though staff whose final pay and vacation balance came to less than $9,275 could claim severance up to that amount. Union reporting would be completed through September 18, the company wrote, "however the Union will become a creditor in the bankruptcy as the transferring of dues at this time would be considered preferential treatment of a creditor," per the Company Prepared FAQs – Employees, p. 1.

October 27

Both first meetings of creditors are set for October 27, 2026, by Microsoft Teams: Toronto's at 1:30 p.m. EDT and Vancouver's at 10:00 a.m. Pacific time. To vote, the notices say, a creditor must file a proof of claim, and where necessary a proxy, with the trustee before the meeting, per the Letter to Creditors (EC Toronto), Oct. 7, 2026, the Notice of Bankruptcy (EC Toronto), Oct. 6, 2026, paras. 2–3 and the Creditor Package (EC Vancouver), pp. 1, 3. The trustee's Form 66 notice requires Mr. Mangion to attend the Toronto meeting "and to give any information that may be required," per the Notice to Officer (Form 66), Oct. 6, 2026. Jonathan Krieger is the trustee named for Grant Thornton on the Toronto statement's backing sheet; Mark Wentzell, a senior vice-president, signed the Vancouver letter to creditors, per the Statement of Affairs (EC Toronto), p. 8 and the Creditor Package (EC Vancouver), p. 1.