#Order
The proposal was approved, some two months after filing, leaving the trustee to administer it against the $4,099,676.16 of unsecured claims recorded at commencement.
Source: Order Approving Proposal
Lazertherm Marketing Inc.
FollowActive
- Proceeding
- ProposalBankruptcy and Insolvency Act
- File
- 31-1418947
Filings held5
Last activity13 Dec 2010
On the record5,820 days
Secured debt$746K
OverviewSummary updated
Lazertherm Marketing Inc. filed a Division I proposal under the Bankruptcy and Insolvency Act on October 15, 2010 in the Ontario Superior Court of Justice, court file 31-1418947, with Meyers Norris Penny Limited as trustee. The Statement of Affairs sworn by Mark Defreitas put entity-level assets at $1,397,794.88 against liabilities of $5,497,471.04, a deficiency of $4,099,676.16 and no surplus, with unsecured claims led by Raflatac at $2,638,862.22, Mactac at $503,657.57 and Dynic USA Corporation at $222,665.52. Operating lender TD Commercial Banking, owed $746,018, had issued a section 244 notice of intention to enforce security on September 13, 2010; the ten-day period expired on September 23, 2010, so its position was not stayed by the proposal. The proposal was approved on December 13, 2010 and the proceeding remains active.
Claims processIf you are owed money
A claims procedure has been established — see the order for deadlines.
FormProof of Claim
Proceedings AIAsk this case — answers cite the filings
Case updates5 dated entries · 1 undated
#Order
An interim order was granted on the date the Division I proposal proceeding commenced in the Ontario Superior Court of Justice, court file no. 31-1418947.
Source: Order Approving Proposal
#Filing
Division I proposal filed with Meyers Norris Penny Limited as trustee, supported by a sworn Statement of Affairs listing secured claims including Business Development Bank at $343,704, GMAC at $207,619 and Styers Equipment at $131,952.
Source: Proposal October 15 2010
Undated filings1 — no date appears on the document · show
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Parties
Debtor
Lazertherm Marketing Inc.
Proposal trustee
MNP
Capital structureAs asserted in the filings
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | TD Commercial Banking (Toronto Dominion Bank) · in 3 casesas of October 15, 2010 — Operating Lender; TD Bank issued NOI to enforce security (s.244) on Sept 13, 2010, 10-day period expired Sept 23, 2010, so not stayed by Proposal; approximate figure stated in Trustee's Report as $746,000, exact figure per Statement of Affairs List B/Trustee's Report table is $746,018 — debtor: Lazertherm Marketing Inc. | $746K | Notice of Proposal to Creditors October 25 2010 |
| 4 | Secured | Business Development Bank (BDC) · in 3 casesas of October 15, 2010 — Business assets - machinery/manufacturing equipment, furniture, office equipment, stock in trade/inventory, accounts receivable (registrations 350747-04, 350747-05, 350747-06) — Estimated value of security $286,704 (279,000+7,000+57,704 approx per component lines listed); no unsecured shortfall shown for BDC in List B — debtor: Lazertherm Marketing Inc. | $344K | Notice of Proposal to Creditors October 25 2010 |
| 4 | Secured | GMAC · in 4 casesas of October 15, 2010 — Motor vehicles - two 2010 Cadillac Escalades and 2008 Pontiac Torrent — Sum of two GMAC entries in List B ($198,323.80 + $9,294.88 = $207,618.68, rounds to $207,619 per Trustee's Report summary table); estimated surplus/shortfall shown per vehicle line, balance of claim unsecured of $101,823.80 noted on one GMAC entry (List A) reflecting shortfall on security — debtor: Lazertherm Marketing Inc. | $208K | Notice of Proposal to Creditors October 25 2010 |
| 4 | Secured | Styers Equipmentas of October 15, 2010 — Business assets - machinery (Aquaflex 16" 8, CTC 16") — Balance of claim unsecured of $52,952.00 also shown, reflecting shortfall on security (estimated value of security $79,000 total: $48,000+$31,000) — debtor: Lazertherm Marketing Inc. | $132K | Notice of Proposal to Creditors October 25 2010 |
| 4 | Secured | James and Kimberly Carras of October 15, 2010 — Business assets - stock in trade/inventory, accounts receivable, machinery, furniture/office equipment — Individuals (personal guarantor/related-party creditors); estimated value of security $73,278.00 with balance of claim unsecured of $27,722.00 reflecting shortfall — debtor: Lazertherm Marketing Inc. | $101K | Notice of Proposal to Creditors October 25 2010 |
| 4 | Secured | Corporate Financial Services (Capmore Financial Services)as of October 15, 2010 — Business assets - machinery (STACRW4-12 Turrett) — Estimated value of security $25,000.00 with balance of claim unsecured of $44,405.29 reflecting shortfall; also appears as unsecured creditor entry 'Capmore Financial Services' with balance of claim unsecured $44,405.29 — debtor: Lazertherm Marketing Inc. | $69.4K | Notice of Proposal to Creditors October 25 2010 |
| 4 | Secured | City National Leasingas of October 15, 2010 — Motor vehicles - GMC 2007 Model T7500 — Estimated value of security $25,000.00 with balance of claim unsecured of $12,035.26 reflecting shortfall — debtor: Lazertherm Marketing Inc. | $37K | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | Raflatacas of October 15, 2010 — Largest unsecured claim — debtor: Lazertherm Marketing Inc. | $2.64M | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | Mactacas of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $504K | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | Dynic USA Corporationas of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $223K | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | GMAC**as of October 15, 2010 — Also secured creditor on List B; this is the unsecured shortfall portion — debtor: Lazertherm Marketing Inc. | $102K | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | Fujicopian (USA) Inc.as of October 15, 2010 — Currency assumed CAD as document does not distinguish, address is USA — debtor: Lazertherm Marketing Inc. | $74.3K USD | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | Roto Engraveras of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $72.7K | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | Styers Equipmentas of October 15, 2010 — Also secured creditor on List B; this is the unsecured shortfall portion — debtor: Lazertherm Marketing Inc. | $53K | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | Purolator Freight · in 5 casesas of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $48K | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | Label Supply (US $)as of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $45.2K USD | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | Capmore Financial Servicesas of October 15, 2010 — Also secured creditor on List B; this is the unsecured shortfall portion — debtor: Lazertherm Marketing Inc. | $44.4K | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | James and Kimberly Carras of October 15, 2010 — Also secured creditor on List B; individuals, related-party; this is the unsecured shortfall portion — debtor: Lazertherm Marketing Inc. | $27.7K | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | Bunting Magnetics Co.as of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $22.7K | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | GMAC Leasco Corporationas of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $19.2K | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | Label Supplyas of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $18.3K | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | Livingston · in 15 casesas of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $17.8K | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | J & F Waste Systems Inc.as of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $13.4K | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | Wikoff Color Corporationas of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $13.1K | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | GMAC (Inv# 254-9078-92338) · in 4 casesas of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $12.7K | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | CTC International Inc.as of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $12.3K | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | City National Leasingas of October 15, 2010 — Also secured creditor on List B; this is the unsecured shortfall portion — debtor: Lazertherm Marketing Inc. | $12K | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | NSCas of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $10K | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | Caraustar Consumer Products Groupas of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $9.61K | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | Speedy Transport · in 14 casesas of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $7.51K | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | Purolator · in 38 casesas of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $7.17K | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | Yellow of Ontario · in 4 casesas of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $6.04K | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | Midland Transport Limited · in 17 casesas of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $5.86K | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | Dun & Bradstreet · in 2 casesas of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $5.73K | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | Nationex · in 5 casesas of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $5.05K | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | Petro Canada · in 17 casesas of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $4.91K | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | Livingston Freight · in 2 casesas of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $4.51K | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | Ward Adhesivesas of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $4.19K USD | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | Artech Imagesas of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $3.71K | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | 407 ETR · in 56 casesas of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $3.69K | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | Alltech Converting Specialties Incas of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $3.54K | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | NAR-O-WEBas of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $2.98K | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | IBEC Machine Knife Ltd.as of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $2.92K | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | Telus · in 115 casesas of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $2.83K | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | CTS Technical Resources Inc.as of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $2.68K | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | P & P Complete Lift Truck Service Ltd.as of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $2.55K | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | Technique Systems Inc.as of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $2.49K | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | Spin Tooling Inc.as of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $2.26K | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | IIMAKas of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $2.17K | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | Gerrity Corrugated Paper Products Ltd. · in 7 casesas of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $2.1K | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | Day & Ross Inc. · in 16 casesas of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $1.99K | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | CITas of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $1.49K | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | Multi-Plastics · in 2 casesas of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $1.21K | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | Brothers Packagingas of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $1.2K | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | Bell - Quebecas of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $1.2K | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | Guaranteed Industrial Lighting Inc.as of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $1.18K | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | Industrial Breakdown Couriers Ltd. · in 2 casesas of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $1.17K | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | Pacific Engineeringas of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $1.17K | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | Road Runners Equipment Ltd.as of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $1.1K | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | Bluestar Canada · in 2 casesas of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $1.02K | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | Federal Express · in 39 casesas of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $1.02K | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | Acklands-Grainger Inc. · in 16 casesas of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $948 | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | Invision Design Studioas of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $885 | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | Sykes Packaging & Partsas of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $702 | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | CITI Cards Canada - Staplesas of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $562 | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | BDI Canada Inc. · in 17 casesas of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $523 | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | Blue Line Plumbing & Heating Ltd.as of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $516 | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | FP Telesetas of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $493 | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | Crown \ Canadaas of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $466 | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | ITNetwork.CAas of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $464 | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | Toronto-Telas of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $429 | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | UPS Canada - Brokerageas of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $392 | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | Image Papers · in 2 casesas of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $323 | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | Cardinal Containersas of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $196 | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | Certified Pest Controlas of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $182 | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | Mackintosh Flexo-Gravure Limitedas of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $176 | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | Francotyp-Postalia Canadaas of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $129 | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | Black Printas of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $98 | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | United Parcel Service · in 16 casesas of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $28 | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | Torbram Electric Supply · in 8 casesas of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $17 | Notice of Proposal to Creditors October 25 2010 |
| 8 | Unsecured | Bell Mobility · in 83 casesas of October 15, 2010 — debtor: Lazertherm Marketing Inc. | $3 | Notice of Proposal to Creditors October 25 2010 |
RecoveriesAs stated in the filings
Unsecured creditors: a distribution.Under the plan · sanctionedNotice of Proposal to Creditors October 25 2010 · 25 Oct 2010
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Preferred | — | — | paid in full | Under the plansanctionedper the debtor | Proposal October 15 2010 · 15 Oct 2010 |
| Unsecured | — | — | a distributionconditional | Under the plansanctionedper the trustee | Notice of Proposal to Creditors October 25 2010 · 25 Oct 2010 |
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.
Estate financialsReported figures — never derived
Total assets at filing$1.4M
Total liabilities at filing$5.5M
As at 15 Oct 2010 · per Statement of Affairs (Business Proposal) as stated and estimated by the officer (Mark Defreitas), sworn declaration · Lazertherm Marketing Inc. (entity level) — Total unsecured creditors $4,099,676.16 (includes unsecured claims $3,860,737.81 plus balance of claims unsecured $238,938.35), secured creditors value of security per List B $1,397,794.88, preferred creditors nil, contingent/trust claims nil; Deficiency of $4,099,676.16 stated; Surplus stated as NIL
Documents5 filings
| Date | Document | File |
|---|---|---|
Order Approving Proposal
| ||
Notice of Proposal to Creditors October 25 2010
| ||
Proposal October 15 2010
| ||
| Voting Letter | ||
| Proof of Claim | ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Lazertherm Marketing Inc.” (Proposal), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/lazertherm-marketing-inc