1585396 Ontario Inc. o/a AAA Trading Co.
Follow- 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
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.
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
Debtor
1585396 Ontario Inc. o/a AAA Trading Co.
Interim receiver
Deloitte
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Morawetz | Ontario Superior Court of Justice | 3 orders, Dec 2009 – Feb 2010 | 130 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| CreditorBankruptcy, Deloitte | 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 | Toyota Credit Canada Inc. · in 20 casesMotor Vehicles - Automobile - Toyota — Balance of claim unsecured $40,001.00 (security value estimated at $0.00) — debtor: 1585396 Ontario Inc. o/a AAA Trading Co. · as of 10 Feb 2010 | $40K | Form 78 - Statement of Affairs |
| 6 | Landlord preferred | Employee Claims · in 8 casespreferred claim; period accrued and amount payable in full unstated ('Unknown') — debtor: 1585396 Ontario Inc. o/a AAA Trading Co. · as of 10 Feb 2010 | $1 | Form 78 - Statement of Affairs |
| 8 | Unsecured | State Bank of IndiaBalance of claim unsecured portion of secured debt reported on List B (secured claim $8,325,776.80) — debtor: 1585396 Ontario Inc. o/a AAA Trading Co. · as of 10 Feb 2010 | $8.32M | Form 78 - Statement of Affairs |
| 8 | Unsecured | Anupama Bhowmic, Tapali Bhowmic, Abir Bhowmic (Common Shareholders of AAA Trading Co.)related party (shareholders); contingent/other liability, amount expected to rank for dividend is $0.00 — debtor: 1585396 Ontario Inc. o/a AAA Trading Co. · as of 10 Feb 2010 | $2.13M | Form 78 - Statement of Affairs |
| 8 | Unsecured | Unknown · in 2 casesCreditor identity unstated ('Unknown') per the document — debtor: 1585396 Ontario Inc. o/a AAA Trading Co. · as of 10 Feb 2010 | $668K | Form 78 - Statement of Affairs |
| 8 | Unsecured | Export Development Canada (EDC) · in 99 casesdebtor: 1585396 Ontario Inc. o/a AAA Trading Co. · as of 10 Feb 2010 | $323K | Form 78 - Statement of Affairs |
| 8 | Unsecured | Toyota Credit Canada Inc. · in 20 casesBalance of claim unsecured portion of secured debt reported on List B (secured claim $40,001.00) — debtor: 1585396 Ontario Inc. o/a AAA Trading Co. · as of 10 Feb 2010 | $40K | Form 78 - Statement of Affairs |
| 8 | Unsecured | Bipin Jha, Singaporedebtor: 1585396 Ontario Inc. o/a AAA Trading Co. · as of 10 Feb 2010 | $1 | Form 78 - Statement of Affairs |
| 8 | Unsecured | AM Ivory Const (Attn: Abhijit Mitra)debtor: 1585396 Ontario Inc. o/a AAA Trading Co. · as of 10 Feb 2010 | $1 | Form 78 - Statement of Affairs |
| 8 | Unsecured | DV Shah, Nigeria (Attn: DV Shah)debtor: 1585396 Ontario Inc. o/a AAA Trading Co. · as of 10 Feb 2010 | $1 | Form 78 - Statement of Affairs |
| 8 | Unsecured | Jai Kishan Poddar (Attn: JKP)debtor: 1585396 Ontario Inc. o/a AAA Trading Co. · as of 10 Feb 2010 | $1 | Form 78 - Statement of Affairs |
| 8 | Unsecured | Jitu Bhaidebtor: 1585396 Ontario Inc. o/a AAA Trading Co. · as of 10 Feb 2010 | $1 | Form 78 - Statement of Affairs |
| 8 | Unsecured | Sukdev Saha (Attn: Sukdeb)debtor: 1585396 Ontario Inc. o/a AAA Trading Co. · as of 10 Feb 2010 | $1 | Form 78 - Statement of Affairs |
| 8 | Unsecured | Anil Shah (Attn: Anil Shah)debtor: 1585396 Ontario Inc. o/a AAA Trading Co. · as of 10 Feb 2010 | $1 | Form 78 - Statement of Affairs |
| 8 | Unsecured | Madhab (Attn: Madhab Chatterjee)debtor: 1585396 Ontario Inc. o/a AAA Trading Co. · as of 10 Feb 2010 | $1 | Form 78 - Statement of Affairs |
| 8 | Unsecured | Anurag, India (Attn: Anurag Garg)debtor: 1585396 Ontario Inc. o/a AAA Trading Co. · as of 10 Feb 2010 | $1 | Form 78 - Statement of Affairs |
| 8 | Unsecured | Navab Uddeen (Attn: Navab)debtor: 1585396 Ontario Inc. o/a AAA Trading Co. · as of 10 Feb 2010 | $1 | Form 78 - Statement of Affairs |
| 8 | Unsecured | Satya Naraindebtor: 1585396 Ontario Inc. o/a AAA Trading Co. · as of 10 Feb 2010 | $1 | Form 78 - Statement of Affairs |
| 8 | Unsecured | Pramlim (Attn: Innocent)debtor: 1585396 Ontario Inc. o/a AAA Trading Co. · as of 10 Feb 2010 | $1 | Form 78 - Statement of Affairs |
| 8 | Unsecured | Pankaj Sahadebtor: 1585396 Ontario Inc. o/a AAA Trading Co. · as of 10 Feb 2010 | $1 | Form 78 - Statement of Affairs |
As at 10 Feb 2010 · per Statement of Affairs (Business Bankruptcy), Form 78, as stated and estimated by the officer · entity - 1585396 Ontario Inc. o/a AAA Trading Co. — Total liabilities comprise total unsecured creditors $9,347,062.80, secured creditors per List B $9,895.00, preferred creditors per List C $1.00, and contingent/other liabilities per List D $2,131,827.00; deficiency of $11,478,890.80 reported; surplus NIL
| Date | Document | File |
|---|---|---|
| Trustee's Preliminary Report to Creditors (Final) | ||
| Proof of Ad Placement - Notice to Creditors | ||
Factum of the Trustee
| ||
| Trustee's Preliminary Report (Final) | ||
| Certificate of Filing of a Bankruptcy - Section 43 | ||
| Form 67 - Notice to Creditors | ||
Form 78 - Statement of Affairs
| ||
| Bankruptcy Endorsement | ||
Bankruptcy Order
| ||
| Trustee Consent | ||
| Second Report of the Interim Receiver | ||
| Interim Receivership Endorsement | ||
Extension Order
| ||
First Report of the Interim Receiver
| ||
| Endorsement | ||
Interim Receivership Order
| ||
| Bankruptcy Order Motion | ||
| Form 31 - Proof of Claim Form | ||
| Form 36 - Proxy Form | ||
| Instructions to Creditors - Proof of Claim Form | ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “1585396 Ontario Inc. o/a AAA Trading Co.” (Interim receivership), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/1585396-ontario-inc-o-a-aaa-trading-co