Bench Accounting, Inc. and 10Sheet Services Inc.

Bench Accounting, Inc. and 10Sheet Services Inc., which operated an integrated business offering accounting and tax services to small and medium sized businesses in Canada and the US, each filed an assignment in bankruptcy on January 7. The business had approximately 10,000 customers and 450 employees at the date operations terminated in late December. Following the termination of operations, the company entered into an agreement to sell its business to Recruiter.com Ventures Inc. The transaction remains subject to approval in the bankruptcy proceedings. National Bank of Canada is the largest creditor of the business. KSV is the bankruptcy trustee. Counsel is Fasken for the trustee, DLA Piper for the company prior to its bankruptcy, and Blakes for National Bank.