Lakeside Produce Inc.
Follow- Proceeding
- Bankruptcysection 49 of the Bankruptcy and Insolvency Act
- File
- 35-124676
Lakeside Produce Inc., the Ontario greenhouse produce grower and distributor, made an assignment under section 49 of the Bankruptcy and Insolvency Act on January 17, 2023, with Ernst & Young Inc. as trustee under court file 35-124676. The Statement of Affairs puts assets at $3,580,233.00 — chiefly $2,718,233.00 on deposit with financial institutions and $862,000.00 of inventory — against liabilities of $187,889,241.97, a deficiency of $184,309,008.97. Accounts receivable of $28,830,082.97 are classified entirely as doubtful and estimated to realize nothing. The pre-filing secured lenders, a Bank of Montreal and Farm Credit Canada syndicate, are shown with a balance of $166,013,444.00, a figure the document reports alongside a List 'B' secured total of $3,580,233.00. Hundreds of trade, freight and grower creditors are listed, the largest including Nature Fresh Farms at $907,840.00, JAG World Wide Imports at $894,896.22 and Coast to Coast at $879,717.12. The proceeding is active.
A claims procedure has been established — see the order for deadlines.
Motion of the Trustee of October 30, 2023 seeking Security for Costs from the PACA parties — Application / notice of application
Motion of June 14 2023 seeking leave from the bankruptcy to prosecute the PACA action in the U.S — Application / notice of application
5 earlier updates, back to 17 January 2023 — subscribers.
Debtor
Lakeside Produce Inc.
Trustee in bankruptcy
EY
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | Pre-filing Secured Lenders (Bank of Montreal and Farm Credit Canada syndicate)Listed within List 'A' unsecured creditors table as balance of secured claims; also reported as Secured creditors as per List 'B' totaling $3,580,233.00 on the Statement of Affairs summary (page 2) - discrepancy between List B total ($3,580,233.00) and the syndicate balance shown ($166,013,444.00) as stated in the document. — debtor: Lakeside Produce Inc. · as of 17 Jan 2023 | $166M | English Creditor Package |
Unsecured creditors: no distribution.EstimatedReport of the Trustee's Preliminary Administration · 2 Feb 2023
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Unsecured | — | — | no distribution | Estimatedper the trustee | Report of the Trustee's Preliminary Administration · 2 Feb 2023 |
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.
The debtor’s own statement of its total assets and liabilities at filing is in the record — Subscribers
Cash on hand
$2.72M
As at 2 Feb 2023Report of the Trustee's Preliminary Administration, dated February 2, 2023
| Date | Document | File |
|---|---|---|
| Notice Requiring Proof of Claim | PDF · Subscribers | |
Motion of the Trustee of October 30, 2023 seeking Security for Costs from the PACA parties
| PDF · Subscribers | |
Motion of June 14 2023 seeking leave from the bankruptcy to prosecute the PACA action in the U.S
| PDF · Subscribers | |
Report of the Trustee's Preliminary Administration (Spanish), dated February 2, 2023
| PDF · Subscribers | |
Report of the Trustee's Preliminary Administration, dated February 2, 2023
| PDF · Subscribers | |
English Creditor Package
| PDF · Subscribers | |
Español Acreedores Paquete
| PDF · Subscribers | |
Certificate of Appointment 35-124676
| 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., “Lakeside Produce Inc.” (Bankruptcy), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/lakeside-produce-inc