October 21, 2021
Virtual Power Systems-Canada, Inc., a Toronto, Ontario based technology company, filed an assignment in bankruptcy on October 21, listing approximately $4 million in liabilities, including approximately $3 million owing to its US parent company. The company was the hardware engineering and manufacturing subsidiary of its US parent company, which operates in the digital infrastructure space. The company never generated any revenues and the parent company decided to exit the space. EY is the bankruptcy trustee. Counsel is Stikeman Elliott for the company.