Eco Burn Inc.
- Proceeding
- ProposalSection 58 of the Bankruptcy and Insolvency Act
- File
- 32-2758560
Eco Burn Inc. filed a Proposal on August 12, 2021 under section 58 of the Bankruptcy and Insolvency Act, with Grant Thornton Limited acting as Proposal Trustee before the Ontario Superior Court of Justice. A sworn Statement of Affairs as at August 9, 2021 reported total liabilities of $880,191 against total assets of $1,013,404, with an estimated realizable value of $125,262 under a liquidation scenario. Royal Bank of Canada holds a $250,000 secured claim, confirmed valid and enforceable by independent legal opinion and unaffected by the Proposal, while the Canada Revenue Agency's deemed trust claim for source deduction arrears is estimated at $23,000. The matter remains active.
A claims procedure has been established — see the order for deadlines.
The officer filed report no. Supplementary Report to the Proposal Trustee's First Report. Eco Burn continues to operate but its business insurance policy has lapsed into arrears, prompting consideration of the insurer as a critical supplier to maintain ongoing operations.
Source: Supplementary Report to Court dated October 18, 2021 (incl. appendices).pdf
Motion Record of the Proposal Trustee - Approval of Proposal - Returnable October 4, 2021.pdf — Application / notice of application
Undated filings3 — no date appears on the document · show
Debtor
Eco Burn Inc.
Proposal trustee
Doane Grant Thornton
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| CreditorKim Ferreira | Speigel Nichols Fox LLP | 4 Oct 2021 | Application · 4 Oct 2021 |
| CreditorMichael Semec | Cassels Brock & Blackwell LLP | 4 Oct 2021 | Application · 4 Oct 2021 |
| CreditorRoyal Bank of Canada | Minden Gross LLP | 4 Oct 2021 | Application · 4 Oct 2021 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 3 | Deemed trusts (CRA and other) | Canada Revenue Agency (deemed trust / source deduction arrears) · in 985 casesDeemed trust priority claim; Trustee corresponded with CRA and understands a trust examination will be conducted to confirm the amount; ranks as Crown Claim to be paid within 6 months of Court approval, separate from Proposal Fund. — debtor: Eco Burn Inc. · as of 9 Aug 2021 | $23K | Trustee's First Report to Court dated September 27, 2021.pdf |
| 4 | Secured | |||
| 7 | Preferred (BIA s. 136) | |||
| 7 | Preferred (BIA s. 136) |
3 more claims in 2 classes The stack holds Deemed trusts (CRA and other), Secured and Preferred (BIA s. 136) claims.
Every creditor and every amount, drawn to scale.
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See all plansUnsecured creditors: a distribution.Under the plan · sanctionedTrustee's First Report to Court dated September 27, 2021.pdf · 27 Sep 2021
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Preferred | — | — | paid in full | Under the plansanctionedper the proposal trustee | Trustee's First Report to Court dated September 27, 2021.pdf · 27 Sep 2021 |
| Unsecured | — | — | of proven claims | Under the plansanctionedper the proposal trustee | Trustee's First Report to Court dated September 27, 2021.pdf · 27 Sep 2021 |
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.
2 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 ·
Professional fees
$40K
As at 31 Aug 2021Supplementary Report to Court dated October 18, 2021 (incl. appendices).pdf
The 2 totals 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 |
|---|---|---|
| Endorsement dated December 21, 2021.pdf | PDF · Subscribers | |
| Order Approving the Proposal dated December 21, 2021.pdf | PDF · Subscribers | |
| Endorsement dated November 2, 2021.pdf | PDF · Subscribers | |
Supplementary Report to Court dated October 18, 2021 (incl. appendices).pdf
| PDF · Subscribers | |
| Endorsement dated October 4, 2021.pdf | PDF · Subscribers | |
Motion Record of the Proposal Trustee - Approval of Proposal - Returnable October 4, 2021.pdf
| PDF · Subscribers | |
Trustee's First Report to Court dated September 27, 2021.pdf
| PDF · Subscribers | |
Certificate Of Filing - 32-2758560.pdf
| PDF · Subscribers | |
| Proposal - Aug 12, 2021.pdf | PDF · Subscribers | |
| Proof of Claim.pdf | PDF · Subscribers | |
| Proxy Form.pdf | PDF · Subscribers | |
| Voting Form.pdf | 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., “Eco Burn Inc.” (Proposal), Ontario Superior Court of Justice. Retrieved 5 November 2026, https://proceedings.ca/case/eco-burn-inc