1348441 Ontario Inc. (o/a Solutions Your Organized Living Store)
- Proceeding
- NOIBIA s. 50.4
- File
- 32-2634165
- Industry
- Retail · Home, furniture & electronics retail
1348441 Ontario Inc., operating as Solutions Your Organized Living Store, filed a Notice of Intention to make a proposal after Bank of Nova Scotia issued demand letters and section 244 BIA notices, which were waived and followed by a Forbearance Agreement. As at the date of the NOI, Scotiabank held secured claims of $5,456,981 and USD $390,821 under a general security agreement tied to a June 25, 2018 Commitment Letter, guaranteed by related party 1008314 Ontario Limited. A general security agreement registered March 17, 2020 gave the company's principal, Gurmej (Rick) Walia, a subordinate secured claim of approximately $6.3 million on loans previously unsecured. The company also owed roughly $1.0 million to 179 unsecured creditors and about $80,000 in unpaid wages and vacation pay to approximately 150 employees, a claim carrying BIA priority status.
Motion Record of the Proposal Trustee Returnable August 11, 2020 — Application / notice of application
Motion Record – For motion returnable April 22, 2020 to be held by videoconference was filed. Court file 32-2634165.
Source: Motion Record – For motion returnable April 22, 2020 to be held by videoconference
Debtor
1348441 Ontario Inc. (o/a Solutions Your Organized Living Store)
Proposal trustee
Dodick Landau
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Koehnen | Ontario Superior Court of Justice | 4 orders, Apr 2020 – Aug 2020 | 83 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| Proposal trusteeDodick Landau | Weisz Fell Kour LLP | 11 Aug 2020 | Order · 11 Aug 2020 |
| Debtor1348441 Ontario Inc. (o/a Solutions Your Organized Living Store) | Loopstra Nixon LLP | 22 Apr 2020 | Factum · 20 Apr 2020 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Gurmej (Rick) WaliaGeneral security agreement executed by the Debtor and registered under the PPSA on March 17, 2020 — Related party (principal of the Debtor) loan, referred to as 'approximately $6.3 million' per Management; loans predate the security grant and appear to have been unsecured until March 17, 2020; security is stated to be subordinate to Scotiabank's security and to the Employee Priority Claims (which carry BIA super-priority). Excluded from the initial creditor list and from the NOI creditor list (Appendix A). — debtor: 1348441 Ontario Inc. | $6.3M | First Report of the Proposal Trustee dated April 20, 2020 |
| 4 | Secured | |||
| 4 | Secured | |||
| 7 | Preferred (BIA s. 136) | |||
| 8 | Unsecured |
4 more claims in 3 classes The stack holds Secured, Preferred (BIA s. 136) and Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plansUnsecured creditors: a distribution. CRA paid in full · BNS paid in full.Under the plan · sanctionedCourt Order of Koehnen J – Approving Proposal · 11 Aug 2020
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Deemed trust | — | — | paid in full | Under the plansanctionedper the proposal trustee | Creditors Package – Proposal · 9 Jun 2020 |
| Deemed trust | CRA | — | paid in full | per the proposal trustee | Motion Record of the Proposal Trustee · 10 Aug 2020 |
| Secured | BNS | — | paid in fullvs. in a bankruptcy | Under the plansanctionedper the proposal trustee | Motion Record of the Proposal Trustee · 10 Aug 2020 |
| Preferred | Proven Preferred Claims (other than Employee Preferred Claims) | — | paid in full | Under the plansanctionedper the court | Court Order of Koehnen J – Approving Proposal · 11 Aug 2020 |
| Unsecured | — | — | conditional | Under the plansanctionedper the court | Court Order of Koehnen J – Approving Proposal · 11 Aug 2020 |
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.
3 blurred figures above
The claims and what each class or creditor recovers — each as the filing states it, with its source.
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See all plansAs at ·
The total the debtor stated at filing
Each one as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
Court Order of Koehnen J – Approving Proposal
| PDF · Subscribers | |
Endorsement of Koehnen J. – Proposal Approval
| PDF · Subscribers | |
Motion Record of the Proposal Trustee Returnable August 11, 2020
| PDF · Subscribers | |
Creditors Package – Proposal
| PDF · Subscribers | |
Court Order
| PDF · Subscribers | |
Court’s Endorsement
| PDF · Subscribers | |
Factum – Motion Returnable April 22, 2020 to be held by videoconference
| PDF · Subscribers | |
First Report of the Proposal Trustee dated April 20, 2020
| PDF · Subscribers | |
Motion Record – For motion returnable April 22, 2020 to be held by videoconference
| PDF · Subscribers | |
| Certificate of Filing – NOI | PDF · Subscribers | |
| Notice of Intention to Make a Proposal | 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., “1348441 Ontario Inc. (o/a Solutions Your Organized Living Store)” (NOI), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/1348441-ontario-inc-o-a-solutions-your-organized-living-store