1585396 Ontario Inc. o/a AAA Trading Co.
- Proceeding
- Interim receivershipsection 47(1) of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, and section 101 of the Courts of Justice Act, R.S.O. 1990, c. C.43
- File
- 09-8517-00CL
- Industry
- Wholesale & distribution
1585396 Ontario Inc. o/a AAA Trading Co. has been under interim receivership since December 23, 2009, under section 47 of the Bankruptcy and Insolvency Act, in the Ontario Superior Court of Justice (Commercial List) under court file 09-8517-00CL. The proceeding remains active. A statement of affairs as at February 10, 2010 reports total assets of $9,895.00 against total liabilities of $11,488,785.80, a deficiency of $11,478,890.80 and no surplus. Liabilities comprise $9,347,062.80 in unsecured claims, $9,895.00 secured, $1.00 preferred and $2,131,827.00 in contingent or other liabilities. State Bank of India claims $8,325,776.80, of which $8,315,881.80 is unsecured against security valued at nil or negligible; Export Development Canada claims $322,955.00 and Toyota Credit Canada Inc. $40,001.00, its automobile security valued at zero.
A claims procedure has been established — see the order for deadlines.
The officer filed report no. Trustee's Report on Preliminary Administration. The Trustee has taken custody of the Company's books and records and notified the OSB and creditors. It reports preliminary evidence that AAA Trading funds were redirected to related company Atan International Inc., sees a serious risk of asset dissipation, and seeks court approval to examine the principals before the First Meeting of Creditors.
Placed the company in interim receivership under BIA s. 47, commencing the proceeding on the Commercial List under court file 09-8517-00CL.
Source: Interim Receivership Order
Undated filings3 — no date appears on the document · show
Debtor
1585396 Ontario Inc. o/a AAA Trading Co.
Interim receiver
Deloitte & Touche
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Morawetz | Ontario Superior Court of Justice | 3 orders, Dec 2009 – Feb 2010 | 141 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| Applicant | Borden Ladner Gervais LLP | 22 Dec 2009 | Order · 22 Dec 2009 |
| CreditorDeloitte | Osler, Hoskin & Harcourt LLP | 19 Feb 2010 | Factum · 19 Feb 2010 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | State Bank of IndiaDebts Due - Business - Accounts Receivable - Various; Debts Due - Business - CRA - Various; Debts Due - Business - Supplier Advances - Various; Cash on hand; Business Assets - Stock in Trade; Business Assets - Machinery - Computer Property — Balance of claim unsecured $8,315,881.80 per List B; estimated value of security largely nil/negligible ($9,894 cash on hand, $1.00 machinery) — debtor: 1585396 Ontario Inc. o/a AAA Trading Co. · as of 10 Feb 2010 | $8.33M | Form 78 - Statement of Affairs |
| 4 | Secured | |||
| 6 | Landlord preferred | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
20 more claims in 3 classes The stack holds Secured, Landlord preferred and Unsecured claims.
Every creditor and every amount, drawn to scale.
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The 2 totals the debtor stated at filing
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See all plans| Date | Document | File |
|---|---|---|
| Trustee's Preliminary Report to Creditors (Final) | PDF · Subscribers | |
Proof of Ad Placement - Notice to Creditors
| PDF · Subscribers | |
Factum of the Trustee
| PDF · Subscribers | |
Trustee's Preliminary Report (Final)
| PDF · Subscribers | |
| Certificate of Filing of a Bankruptcy - Section 43 | PDF · Subscribers | |
Form 67 - Notice to Creditors
| PDF · Subscribers | |
Form 78 - Statement of Affairs
| PDF · Subscribers | |
Bankruptcy Endorsement
| PDF · Subscribers | |
Bankruptcy Order
| PDF · Subscribers | |
| Trustee Consent | PDF · Subscribers | |
| Second Report of the Interim Receiver | PDF · Subscribers | |
| Interim Receivership Endorsement | PDF · Subscribers | |
Extension Order
| PDF · Subscribers | |
First Report of the Interim Receiver
| PDF · Subscribers | |
Endorsement
| PDF · Subscribers | |
Interim Receivership Order
| PDF · Subscribers | |
Bankruptcy Order Motion
| PDF · Subscribers | |
| Form 31 - Proof of Claim Form | PDF · Subscribers | |
| Form 36 - Proxy Form | PDF · Subscribers | |
| Instructions to Creditors - Proof of Claim Form | 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., “1585396 Ontario Inc. o/a AAA Trading Co.” (Interim receivership), Ontario Superior Court of Justice. Retrieved 5 November 2026, https://proceedings.ca/case/1585396-ontario-inc-o-a-aaa-trading-co