KodaCloud Canada Inc
Follow- Proceeding
- Bankruptcysection 49(1) of the Bankruptcy and Insolvency Act (Canada)
- File
- 33-2675435
KodaCloud Canada Inc.'s insolvency proceedings show a Statement of Affairs sworn as at September 24, 2020, listing total assets of $331,950.82 in cash against total liabilities of $9,735,822.98, a stated deficiency of $9,403,872.16. The statement was sworn by Michael A. Maidy, manager of KodaCloud (Assignment for the Benefit of Creditors), LLC, acting as assignee for the benefit of creditors of KodaCloud, Inc. Secured claims from Voyager Capital and Celtic House, each valued at $2,103,938.32 against security of $165,975.41, carry deficiencies of $1,937,962.91 apiece into the unsecured pool, alongside smaller secured claims from Huw Rees, Derek South, Marcel Chenier and Bernard Herscovici with no security value assigned. Unsecured claims also include $667,000.00 owed to the Receiver General of Canada for the National Research Council, plus amounts owed to Deloitte LLP, Labarge Weinstein, Staples Boucherville and Allstream.
A claims procedure has been established — see the order for deadlines.
The officer filed a report. Court file 33-2675435.
Source: Trustee's Report to the First Meeting of Creditors on Preliminary Administration
Undated filings1 — no date appears on the document · show
Debtor
KodaCloud Canada Inc
Trustee in bankruptcy
KPMG
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Celtic HouseCash on Hand - Cash on hand — Estimated value of security $165,975.41; balance of claim (deficiency not covered by security) of $1,937,962.91 carried into unsecured total (bifurcated secured/unsecured by security valuation). See corresponding List A Total claim of $4,145,434.53. — debtor: KodaCloud Canada Inc. · as of 24 Sep 2020 | $2.1M | Notice to Creditors |
| 4 | Secured | Voyager CapitalCash on Hand - Cash on hand — Estimated value of security $165,975.41; balance of claim (deficiency not covered by security) of $1,937,962.91 carried into unsecured total (bifurcated secured/unsecured by security valuation). See corresponding List A Total claim of $3,710,699.04. — debtor: KodaCloud Canada Inc. · as of 24 Sep 2020 | $2.1M | Notice to Creditors |
| 4 | Secured | Marcel ChenierCash on Hand - Cash on hand — Estimated value of security stated as $0.00; entire claim treated as deficiency and carried into unsecured total (bifurcated secured/unsecured by security valuation). — debtor: KodaCloud Canada Inc. · as of 24 Sep 2020 | $62.4K | Notice to Creditors |
| 4 | Secured | Bernard HerscoviciCash on Hand - Cash on hand — Estimated value of security stated as $0.00; per Statement of Affairs the entire claim balance ($62,427.85) is a deficiency carried into the unsecured total (bifurcated secured/unsecured by security valuation). See corresponding List A Total claim of $269,523.19. — debtor: KodaCloud Canada Inc. · as of 24 Sep 2020 | $62.4K | Notice to Creditors |
| 4 | Secured | Huw ReesCash on Hand - Cash on hand — Estimated value of security stated as $0.00; entire claim treated as deficiency and carried into unsecured total (bifurcated secured/unsecured by security valuation). See corresponding List A Total claim of $261,518.18. — debtor: KodaCloud Canada Inc. · as of 24 Sep 2020 | $54.4K | Notice to Creditors |
| 4 | Secured | Derek SouthCash on Hand - Cash on hand — Estimated value of security stated as $0.00; entire claim treated as deficiency and carried into unsecured total (bifurcated secured/unsecured by security valuation). — debtor: KodaCloud Canada Inc. · as of 24 Sep 2020 | $31.2K | Notice to Creditors |
| 8 | Unsecured | Celtic HouseTotal claim comprises $2,207,471.62 unsecured claim plus $1,937,962.91 balance of claim (deficiency from bifurcated secured claim, see List B). — debtor: KodaCloud Canada Inc. · as of 24 Sep 2020 | $4.15M | Notice to Creditors |
| 8 | Unsecured | Voyager CapitalTotal claim comprises $1,772,736.13 unsecured claim plus $1,937,962.91 balance of claim (deficiency from bifurcated secured claim, see List B). — debtor: KodaCloud Canada Inc. · as of 24 Sep 2020 | $3.71M | Notice to Creditors |
| 8 | Unsecured | Receiver General of Canada - National Research Council CanadaGovernment creditor (Finance Branch, National Research Council Canada); document does not label this a deemed-trust claim. — debtor: KodaCloud Canada Inc. · as of 24 Sep 2020 | $667K | Notice to Creditors |
| 8 | Unsecured | Bernard HerscoviciTotal claim comprises $207,095.34 unsecured claim plus $62,427.85 balance of claim (deficiency from bifurcated secured claim, see List B). — debtor: KodaCloud Canada Inc. · as of 24 Sep 2020 | $270K | Notice to Creditors |
| 8 | Unsecured | Huw ReesTotal claim comprises $207,095.34 unsecured claim plus $54,422.84 balance of claim (deficiency from bifurcated secured claim, see List B). — debtor: KodaCloud Canada Inc. · as of 24 Sep 2020 | $262K | Notice to Creditors |
| 8 | Unsecured | Labarge Weinstein · in 3 casesdebtor: KodaCloud Canada Inc. · as of 24 Sep 2020 | $235K | Notice to Creditors |
| 8 | Unsecured | Marcel ChenierEntire amount is the balance of claim (deficiency) from bifurcated secured claim (see List B); no separate unsecured claim portion stated. — debtor: KodaCloud Canada Inc. · as of 24 Sep 2020 | $62.4K | Notice to Creditors |
| 8 | Unsecured | Derek SouthEntire amount is the balance of claim (deficiency) from bifurcated secured claim (see List B); no separate unsecured claim portion stated. — debtor: KodaCloud Canada Inc. · as of 24 Sep 2020 | $31.2K | Notice to Creditors |
| 8 | Unsecured | Deloitte LLP · in 30 casesdebtor: KodaCloud Canada Inc. · as of 24 Sep 2020 | $19.9K | Notice to Creditors |
| 8 | Unsecured | Allstream · in 14 casesdebtor: KodaCloud Canada Inc. · as of 24 Sep 2020 | $650 | Notice to Creditors |
| 8 | Unsecured | Staples Bouchervilledebtor: KodaCloud Canada Inc. · as of 24 Sep 2020 | $340 | Notice to Creditors |
As at 24 Sep 2020 · per Statement of Affairs (Form 78) - as stated and estimated by the officer · KodaCloud Canada Inc. (single entity) — Assets consist entirely of $331,950.82 cash on hand. Deficiency of $9,403,872.16 stated (Surplus: NIL). Statement sworn by Michael A. Maidy, Manager of KodaCloud (Assignment for the Benefit of Creditors), LLC, solely in its capacity as assignee for the benefit of creditors of KodaCloud, Inc.
| Date | Document | File |
|---|---|---|
| Minutes of First Meeting of Creditors | ||
Notice to Creditors
| ||
Certificate of Assignment date September 28, 2020
| ||
Trustee's Report to the First Meeting of Creditors on Preliminary Administration
| ||
Proof of Claim Form
| ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “KodaCloud Canada Inc” (Bankruptcy). Retrieved 20 September 2026, https://proceedings.ca/case/kodacloud-canada-inc