ITWorld Canada Inc.
- Proceeding
- Proposals. 50.4 of the Bankruptcy and Insolvency Act
- File
- 31-3032693
ITWorld Canada Inc. filed a Division I proposal on January 19, 2024 under the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, as amended, with Crowe Soberman Inc. as Proposal Trustee before the Ontario Superior Court of Justice under estate no. 31-3032693. The statement of affairs, as stated and estimated by the officer at April 15, 2024, shows total assets of $200,000.00 against total liabilities of $2,107,543.10 and a deficiency of $1,907,543.10. Scotiabank holds a $410,000.00 secured claim, its security in the ITWorld software valued at $200,000.00. The largest unsecured claims are the Estate of Fawn Annan at $300,000.00, Uninnovate INC at $229,358.68 and American Express at $188,842.02.
Debtor
ITWorld Canada Inc.
Proposal trustee
Crowe Soberman
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 3 | Deemed trusts (CRA and other) | CRA - Tax - Ontario (122605769RP0001) · in 259 casesPreferred creditor; nature of claim: Deemed Trust Claim — debtor: ITWORLD CANADA INC. · as of 15 Apr 2024 | $23.3K | Notice of Bankruptcy |
| 4 | Secured | |||
| 7 | Preferred (BIA s. 136) | |||
| 7 | Preferred (BIA s. 136) | |||
| 7 | Preferred (BIA s. 136) | |||
| 7 | Preferred (BIA s. 136) | |||
| 7 | Preferred (BIA s. 136) | |||
| 7 | Preferred (BIA s. 136) | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
47 more claims in 3 classes The stack holds Deemed trusts (CRA and other), Secured, Preferred (BIA s. 136) and Unsecured claims.
Every creditor and every amount, drawn to scale.
Card required. Nothing charged for 5 days. Cancel anytime.
Already a subscriber? Sign in.
See all plansMarketed — Crowe Soberman Inc., as trustee, invites offers to purchase the business and assets of IT World Canada Inc., including website URLs and newsletters, a subscriber database, a client list, and industry partnerships and events.Sale Teaser · 21 May 2024
Unsecured creditors: a distribution.Under the plan · vote pendingProposal Report · 8 Mar 2024
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Unsecured | — | — | Under the planvote pendingper the proposal trustee | Proposal Report · 8 Mar 2024 |
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.
1 blurred figure above
The claims and what each class or creditor recovers — each as the filing states it, with its source.
Card required. Nothing charged for 5 days. Cancel anytime.
Already a subscriber? Sign in.
See all plansAs at ·
The 2 totals the debtor stated at filing
Each one as the filing states it, with its source.
Card required. Nothing charged for 5 days. Cancel anytime.
Already a subscriber? Sign in.
See all plans| Date | Document | File |
|---|---|---|
Sale Teaser
| PDF · Subscribers | |
Preliminary Report to the First Meeting of Creditors
| PDF · Subscribers | |
Notice of Bankruptcy
| PDF · Subscribers | |
Material Adverse Change Report - April 5,2024
| PDF · Subscribers | |
Proposal Report
| PDF · Subscribers | |
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., “ITWorld Canada Inc.” (Proposal), Ontario Superior Court of Justice. Retrieved 4 November 2026, https://proceedings.ca/case/itworld-canada-inc