April 25, 2022
Quality Fertilizers Inc., a Shakespeare, Ontario-based producer of agricultural fertilizer, filed an assignment in bankruptcy on April 25. In 2019, it was uncovered that several hundred thousand dollars were stolen in an employee fraud. The fraud resulted in significant arrears owing to suppliers and to CRA for unremitted HST and source deductions. The business was shut down in 2019 and the owner continued trying to pay down the company's debts. Ultimately, however, he was unable to do so and the company made an assignment in bankruptcy. MNP is the bankruptcy trustee.
By Dina Milivojevic