Forage M3 Drilling Services Inc.

Forage M3 Drilling Services Inc., a Hawkesbury, Ontario-based drilling firm in the mining industry, was placed into bankruptcy on December 9, 2022, on application by RBC, owed approximately $500,000. The company has further debt in the amount of approximately $3.7 million. Since about 2018, the company has been unable to manage drilling programs profitably, which resulted in the company being unable to satisfy its obligations for trade accounts payable, long-term loans and HST arrears. In 2021, the company ceased active drilling operations after a shareholder dispute arose as a result of the increasing losses and began self-liquidating drilling equipment and other supporting assets. MNP is the Bankruptcy Trustee. Soloway Wright is counsel for RBC and Vice & Hunger is counsel for Centre De Services A L’Emploi Prescott-Russel Inc. By Dina Milivojevic

Cerebri AI Corporation

Cerebri AI Corporation, a Toronto, Ontario-based software development business, filed an assignment in bankruptcy on December 7, listing approximately $10.2 million in liabilities. The company was doing research and development work for its parent company, which is based in the United States, and selling the software products in Canada. The company worked closely with certain banks and other corporations for their software needs. Some of the potential clients shelved the projects and deferred investment into new software products during the initial phase of the COVID-19 pandemic given the uncertainty prevailing at that time. Other products were unable to go past the development and testing phase. The business incurred significant costs for development and testing and, when it did not materialize into a licensing agreement, the funding dried up and the company was unable to meet its obligation to its creditors and investors. It ceased operations around June 2022 and eventually filed an assignment in bankruptcy. Goldhar & Associates is the bankruptcy trustee. By Dina Milivojevic

T.J.E.E. – The Jewish Educational Experience

T.J.E.E. – The Jewish Educational Experience, a not-for-profit independent Jewish centre educating young adults through various programming initiatives, made an assignment in bankruptcy on December 7, listing approximately $78,000 in liabilities, including $60,000 to RBC. During the COVID-19 pandemic, TJEE experienced difficulty organizing programs, which severely compromised its ability to raise funds. By the end of April 2022, all remaining employees of TJEE had been terminated and the organization had ceased operations. Deloitte is the bankruptcy trustee. By Dina Milivojevic

Warehouse Brewing Company Inc.

Warehouse Brewing Company Inc., which operated a craft brewery in Regina, Saskatchewan, filed an assignment in bankruptcy on December 1, listing approximately $3.3 million in liabilities. The company was not able to sustain a profitable business model and the various investors did not want to advance further funding to sustain the operations. The company’s directors explored options for external investment and to sell the business as a going concern, but none of these preliminary discussions materialized into a deal that would allow the company to continue its operations. MNP is the bankruptcy trustee. By Dina Milivojevic

Telewizja Polska Canada Inc. (AKA Polish Television Canada Inc.)

Telewizja Polska Canada Inc. (AKA Polish Television Canada Inc.), a Mississauga, Ontario based distributor of Polish language television and radio programming, filed an assignment in bankruptcy on November 23 due to the expiring of the distribution license and loss of its revenue stream. Liabilities are listed at approximately $1,064,764. BDO is the bankruptcy trustee. By Dina Milivojevic

All-Rite Dock & Door Systems Inc.

All-Rite Dock & Door Systems Inc., a Brampton-Ontario based company which was in the business of supplying, inspecting, repairing and installing all aspects of the door and dock system, filed an assignment in bankruptcy on November 22. TD Bank, the company's senior secured creditor, appointed a receiver over the company's property pursuant to its GSA on November 25. msi Spergel inc. (GRIP) is the bankruptcy trustee and receiver. Harrison Pensa is counsel for TD Bank and Minden Gross is counsel for the trustee/receiver. By Dina Milivojevic

Cox Mechanical Ltd.

Cox Mechanical Ltd., which operated as a mechanical services and contracting company previously headquartered in St. Albert, Alberta, filed an assignment in bankruptcy on November 30, 2022, listing approximately $2.2 million in assets and $5.1 million in liabilities. Due to a number of factors, the operations of the business suffered over the past several years, and its relationships with its creditors and customers were materially affected. In March 2022 the company ceased operations. Around the same time, the company sold the building within which it had conducted its operations to satisfy the related secured indebtedness. EY is the bankruptcy trustee. By Dina Milivojevic

Womens Entrepreneurs In Advanced Technology (Weatech) Inc. o/a Eventtours

Womens Entrepreneurs In Advanced Technology (Weatech) Inc. o/a Eventtours, a Toronto-based event management company, filed an assignment in bankruptcy on November 18, listing approximately $268,000 in liabilities. The company had organized a 17-day trip that was to take place on April 13, 2020 to the Holy Land, Greece, Italy, Austria, Germany and Croatia. Due to the global COVID-19 pandemic and subsequent shutdown in March 2020, the trip was postponed. The Company attempted to reschedule the trip, however, the continued travel restrictions due to COVID-19 did not allow for a rescheduling to be finalized. With no new business being booked, the company was no longer able to meet its obligations as they became due. msi Spergel Inc. (GRIP) is the bankruptcy trustee. By Dina Milivojevic

Lischkoff Build Design Ltd.

Lischkoff Build Design Ltd., a Huntsville, Ontario-based company in the business of constructing, designing and renovating residential custom homes, filed an assignment in bankruptcy on November 14. According to management, the company began experiencing financial pressures in 2021 resulting primarily from economically adverse contracts, higher labour and material costs and the COVID-19 pandemic. The company was required to utilize a substantial portion of its financial resources to complete these contracts, exhausting working capital to an unsustainable level. Anticipated financing did not materialize, and the company elected to file an assignment in bankruptcy. RBC is owed approximately $280,000 on a secured basis. Rosen Goldberg is the bankruptcy trustee, and Miller Thomson is counsel for the bankruptcy trustee. By Dina Milivojevic

Capital Build Construction Management Corp.

Capital Build Construction Management Corp., a Vaughan, Ontario-based construction management company, was deemed to have made an assignment in bankruptcy on October 4, after it failed to file cash flow statements required in connection with its NOI proceedings. The company lists approximately $2.1 million in liabilities, including $1.1 million to RBC. It was involved in construction management for a developer on multiple projects, and had substantial receivables for the work done or being done on the projects. The developer could not meet its financial obligations to its creditors and its projects were put into receivership, adversely affecting the company's cash flow. Goldhar & Associates is the bankruptcy trustee. By Dina Milivojevic