1186222 Ontario Inc., operating as Holly's and Ann Stuart, became bankrupt on March 17, 2010 at 07:47 under the Bankruptcy and Insolvency Act (Canada), with Meyers Norris Penny Limited as trustee under estate no. 31-1334353. The Statement of Affairs, as at March 16, 2010, puts total assets at $210,002.00 against total liabilities of $1,159,612.47, a reported deficiency of $949,610.47. Unsecured claims on List A total $901,973.78 and preferred claims on List C $47,636.69. Secured claims include The Toronto-Dominion Bank at $235,000.00 on inventory and trade fixtures, security valued at $210,000.00, and 1353543 Ontario Inc. at $499,906.00 on the same asset classes with the security valued at nil. Trade suppliers, including Teenflo Inc. at $51,063.76 and Joseph Ribkoff at $29,105.54, make up the bulk of unsecured debt. The estate remains active in Ontario.
The officer filed a report. Following the bankruptcy, the Trustee took possession of all five retail locations, consolidated inventory into two stores, retained a liquidator to conduct a going-out-of-business sale, and advertised the Company's retail leases for sale. Court file 31-1334353.
Source: Trustee's Preliminary Report
Trustee filing recorded the bankruptcy as of 07:47 on March 17, 2010 and set out the Form 78 Statement of Affairs assets, liabilities and creditor lists.
Source: Certificate of Appointment
A claims process for the estate was approved, dated to the March 17, 2010 commencement of the bankruptcy; the record gives no separate approval date.
Debtor
1186222 Ontario Inc. Holly's and Ann Stuart
Trustee in bankruptcy
MNP
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | 1353543 Ontario Inc.Business Assets - Stock In Trade (Inventory); Business Assets - Trade Fixtures (Equipment) — Estimated value of security $0.00; balance of claim unsecured $499,906.00 per Statement of Affairs List B — debtor: 1186222 Ontario Inc. o/a Holly's and Ann Stuart · as of 16 Mar 2010 | $500K | Notice of Bankruptcy and First Meeting of Creditors |
Unsecured creditors: no distribution.EstimatedTrustee's Preliminary Report · 29 Mar 2010
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Unsecured | — | — | no distribution | Estimatedper the trustee | Trustee's Preliminary Report · 29 Mar 2010 |
Each row is one filing's statement, copied as it reads and never computed. "Estimated" is the officer's forecast; "Under the plan" is the plan's or proposal's own term; "Final" is a declared or paid distribution; a row with no chip states no footing. A range is the two numbers stated; "of proven claims" is the document's own denominator.
The debtor’s own statement of its total assets and liabilities at filing is in the record — Subscribers
Cumulative receipts
$58K
As at 29 Mar 2010Trustee's Preliminary Report
| Date | Document | File |
|---|---|---|
Trustee's Preliminary Report
| PDF · Subscribers | |
Certificate of Appointment
| PDF · Subscribers | |
Notice of Bankruptcy and First Meeting of Creditors
| PDF · Subscribers | |
Filing titles and dates are public, and so is each filing's own page. The figures read from them are for subscribers.
CiteProceedings., “1186222 Ontario Inc. Holly's and Ann Stuart” (Bankruptcy). Retrieved 20 September 2026, https://proceedings.ca/case/1186222-ontario-inc-oa-hollys-and-ann-stuart
Sources last checked · summary updated 19 August 2026 · Report a correction · Printed from proceedings.ca/case/1186222-ontario-inc-oa-hollys-and-ann-stuart
Facts and summaries are extracted automatically from the court filings linked on each page; the filings remain the authoritative record. Suggested corrections are reviewed against the source filings.