Restoration Co. Inc.

Restoration Co. Inc. was place into Receivership on application by the Royal Bank of Canada who is owed approximately $2.22 million.  The Company operated from several location in Ontario, Alberta and BC renting various restoration equipment used in cases where there has been water damage and other significant events for commercial and residential owners.  The Company defaulted in payments to RBC and appears to have liquidated certain inventory without knowledge or consent of RBC.  The Receiver will liquidate the remaining equipment and attempt to collect on the various unpaid customer accounts.