1010217 Ontario Limited Rideau Bakery Limited

1010217 Ontario Limited, operating as Rideau Bakery, has been in bankruptcy under the Bankruptcy and Insolvency Act in Ontario since October 30, 2019, with MNP Ltd. acting as Licensed Insolvency Trustee under estate number 33-2577670. The debtor's sworn statement of affairs dated July 16, 2019 reported assets of $8,000.00 against liabilities of $1,553,927.99, of which $1,545,927.99 was unsecured. On the Trustee's estimated realization, assets stand at $5,000.00 against liabilities of $1,553,927.99, an apparent deficit of $1,548,927.99, with the cost of administration put at $30,000.00 and third-party guarantee and preferred claims noted separately. The only remaining secured creditors are the shareholders, a related party, whose secured claim is estimated at $5,000.00. The Trustee projects no realization for unsecured creditors, a dividend of 0.0%. The estate remains open.