Ontario Insurance Brokers Ltd.
FollowClosed
- Proceeding
- Bankruptcysection 49 of the Bankruptcy and Insolvency Act
- File
- 35-1688343
Filings held7
Last activity3 Sep 2014
On the record5,053 days
Secured debt$692K
OverviewSummary updated
Ontario Insurance Brokers Ltd. entered bankruptcy under the BIA with a Statement of Affairs, sworn by licensed insolvency trustee Bradley Neal, showing total assets of $116,135.60 against total liabilities of $1,938,737.84 as at November 19, 2012, leaving a deficiency of $1,822,602.24. Unsecured claims total $1,863,877.32, combining $1,098,368.92 in ordinary unsecured claims with $765,508.40 representing the unsecured balance of two large purportedly secured claims once their security is valued. Secured creditors are listed at $66,135.60 and preferred creditors, chiefly wage claims under the Wage Earner Protection Program, at $8,724.92. The two largest claims, from Michael V Burke and Shillington Insurance Brokers Inc., share an address and counsel, raising a related-party question, and are bifurcated because the security pledged against them was valued at little or nothing.
Proceedings AIAsk this case — answers cite the filings
Case updates8 dated entries
#Report
The officer filed a report. Court file 35-1688343.
Source: Certificate of Appointment – Form 19 – 35-1688343 – ONTARIO
#Report
The officer filed a report. Court file 35-1688343.
Source: Trustee’s Report to the Creditors on Preliminary Administration
Parties
Debtor
Ontario Insurance Brokers Ltd.
Trustee in bankruptcy
Albert Gelman
Capital structureAs asserted in the filings
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Michael V BurkeCash on Hand - Chequing (RBC a/c 079221053032) $10,000.00; Cash on Hand - Operating (RBC a/c 079221006121) $15,675.60; Debts Due - Business - Commissions on Collected Premiums $6,500.00; Debts Due - Business - Commissions on Uncollected Premiums $30,000.00; all security given 01-Mar-2007 — Claim of $692,225.00 bifurcated by security valuation: estimated value of security realized against this + item 1 totals $66,135.60 per List "B" total row; unsecured balance of $630,049.40 shown in List "B" and repeated as List "A" unsecured creditor #17. Same address/contact (c/o McKenzie Lake Laywers LLP, · as of 19 Nov 2012 | $692K | Notice of Bankruptcy and first meeting of creditors dated Nov 20, 2012 |
| 4 | Secured | Shillington Insurance Brokers Inc.Cash on Hand - Chequing; Cash on Hand - Operating; Debts Due - Business Collected Premiums; Debts Due - Business Uncollected Premiums - all estimated value of security $0.00 (given 01-Mar-2007 / 03-Jan-2007) — Claim bifurcated: security valued at $0.00 so entire $135,459.00 claim shown as unsecured balance per List "B"; also repeated as List "A" unsecured creditor #26. — debtor: Ontario Insurance Brokers Ltd. · as of 19 Nov 2012 | $135K | Notice of Bankruptcy and first meeting of creditors dated Nov 20, 2012 |
| 4 | Secured | 957950 Ontario Inc. o/a Global LeasingBusiness Assets - Machinery - Ricoh Aficio MP 201SPF Photocopier, security given 13-Sep-2011 — Fully secured per List "B"; no unsecured balance shown. — debtor: Ontario Insurance Brokers Ltd. · as of 19 Nov 2012 | $3.96K | Notice of Bankruptcy and first meeting of creditors dated Nov 20, 2012 |
| 6 | Landlord preferred | Shawn StephensPreferred claim (WEPP); distinct from this creditor's separate ordinary unsecured claim of $6,862.80 (List "A"). — debtor: Ontario Insurance Brokers Ltd. · as of 19 Nov 2012 | $2K | Notice of Bankruptcy and first meeting of creditors dated Nov 20, 2012 |
| 6 | Landlord preferred | Tim HodgsonPreferred claim (WEPP); distinct from this creditor's separate ordinary unsecured claim of $1,041.50 (List "A"). — debtor: Ontario Insurance Brokers Ltd. · as of 19 Nov 2012 | $2K | Notice of Bankruptcy and first meeting of creditors dated Nov 20, 2012 |
| 6 | Landlord preferred | Brad CampbellPreferred claim (WEPP); ranks ahead of ordinary unsecured. — debtor: Ontario Insurance Brokers Ltd. · as of 19 Nov 2012 | $1.75K | Notice of Bankruptcy and first meeting of creditors dated Nov 20, 2012 |
| 6 | Landlord preferred | Bruce CaslerPreferred claim (WEPP); ranks ahead of ordinary unsecured. — debtor: Ontario Insurance Brokers Ltd. · as of 19 Nov 2012 | $1.68K | Notice of Bankruptcy and first meeting of creditors dated Nov 20, 2012 |
| 6 | Landlord preferred | Ryan BennettPreferred claim (WEPP); ranks ahead of ordinary unsecured. — debtor: Ontario Insurance Brokers Ltd. · as of 19 Nov 2012 | $1.3K | Notice of Bankruptcy and first meeting of creditors dated Nov 20, 2012 |
| 7 | Preferred (BIA s. 136) | Shawn StephensDistinct from this creditor's separate preferred WEPP claim of $2,000.00 (List "C"). — debtor: Ontario Insurance Brokers Ltd. · as of 19 Nov 2012 | $6.86K | Notice of Bankruptcy and first meeting of creditors dated Nov 20, 2012 |
| 7 | Preferred (BIA s. 136) | Tim HodgsonDistinct from this creditor's separate preferred WEPP claim of $2,000.00 (List "C"). — debtor: Ontario Insurance Brokers Ltd. · as of 19 Nov 2012 | $1.04K | Notice of Bankruptcy and first meeting of creditors dated Nov 20, 2012 |
| 8 | Unsecured | Michael V BurkeUnsecured deficiency after security realization on total claim of $692,225.00 (see secured creditor entry); possible related-party/director claim (same address/contact as Shillington Insurance Brokers Inc.). — debtor: Ontario Insurance Brokers Ltd. · as of 19 Nov 2012 | $630K | Notice of Bankruptcy and first meeting of creditors dated Nov 20, 2012 |
| 8 | Unsecured | Sullivan Mahoney LLP - St. Catharinesdebtor: Ontario Insurance Brokers Ltd. · as of 19 Nov 2012 | $353K | Notice of Bankruptcy and first meeting of creditors dated Nov 20, 2012 |
| 8 | Unsecured | Alexander Billyarddebtor: Ontario Insurance Brokers Ltd. · as of 19 Nov 2012 | $174K | Notice of Bankruptcy and first meeting of creditors dated Nov 20, 2012 |
| 8 | Unsecured | WFT Corporate Finance & Valuations Ltd.debtor: Ontario Insurance Brokers Ltd. · as of 19 Nov 2012 | $155K | Notice of Bankruptcy and first meeting of creditors dated Nov 20, 2012 |
| 8 | Unsecured | Shillington Insurance Brokers Inc.Security valued at $0.00 per List "B"; entire claim shown as unsecured balance. — debtor: Ontario Insurance Brokers Ltd. · as of 19 Nov 2012 | $135K | Notice of Bankruptcy and first meeting of creditors dated Nov 20, 2012 |
| 8 | Unsecured | Brian Spoonerdebtor: Ontario Insurance Brokers Ltd. · as of 19 Nov 2012 | $105K | Notice of Bankruptcy and first meeting of creditors dated Nov 20, 2012 |
| 8 | Unsecured | Bruce Vincedebtor: Ontario Insurance Brokers Ltd. · as of 19 Nov 2012 | $105K | Notice of Bankruptcy and first meeting of creditors dated Nov 20, 2012 |
| 8 | Unsecured | Norm Kelkdebtor: Ontario Insurance Brokers Ltd. · as of 19 Nov 2012 | $105K | Notice of Bankruptcy and first meeting of creditors dated Nov 20, 2012 |
| 8 | Unsecured | Dalton Timmis Insurancedebtor: Ontario Insurance Brokers Ltd. · as of 19 Nov 2012 | $55.3K | Notice of Bankruptcy and first meeting of creditors dated Nov 20, 2012 |
| 8 | Unsecured | PwC Management Services LPdebtor: Ontario Insurance Brokers Ltd. · as of 19 Nov 2012 | $14.8K | Notice of Bankruptcy and first meeting of creditors dated Nov 20, 2012 |
| 8 | Unsecured | Doher & Co. Chartered Accountantsdebtor: Ontario Insurance Brokers Ltd. · as of 19 Nov 2012 | $9.66K | Notice of Bankruptcy and first meeting of creditors dated Nov 20, 2012 |
| 8 | Unsecured | Fasken Martineau · in 9 casesdebtor: Ontario Insurance Brokers Ltd. · as of 19 Nov 2012 | $5K | Notice of Bankruptcy and first meeting of creditors dated Nov 20, 2012 |
| 8 | Unsecured | Rio Can Holdings Inc.debtor: Ontario Insurance Brokers Ltd. · as of 19 Nov 2012 | $4.5K | Notice of Bankruptcy and first meeting of creditors dated Nov 20, 2012 |
| 8 | Unsecured | Policy Worksdebtor: Ontario Insurance Brokers Ltd. · as of 19 Nov 2012 | $982 | Notice of Bankruptcy and first meeting of creditors dated Nov 20, 2012 |
| 8 | Unsecured | Compuqouotedebtor: Ontario Insurance Brokers Ltd. · as of 19 Nov 2012 | $739 | Notice of Bankruptcy and first meeting of creditors dated Nov 20, 2012 |
| 8 | Unsecured | Entegrus Services Incdebtor: Ontario Insurance Brokers Ltd. · as of 19 Nov 2012 | $431 | Notice of Bankruptcy and first meeting of creditors dated Nov 20, 2012 |
| 8 | Unsecured | Corporate Express Canada Inc. · in 8 casesdebtor: Ontario Insurance Brokers Ltd. · as of 19 Nov 2012 | $345 | Notice of Bankruptcy and first meeting of creditors dated Nov 20, 2012 |
| 8 | Unsecured | JaniKingdebtor: Ontario Insurance Brokers Ltd. · as of 19 Nov 2012 | $294 | Notice of Bankruptcy and first meeting of creditors dated Nov 20, 2012 |
| 8 | Unsecured | Enwin Utilities Ltd. · in 6 casesdebtor: Ontario Insurance Brokers Ltd. · as of 19 Nov 2012 | $274 | Notice of Bankruptcy and first meeting of creditors dated Nov 20, 2012 |
| 8 | Unsecured | Pitney Bowes Canada Ltd. · in 2 casesdebtor: Ontario Insurance Brokers Ltd. · as of 19 Nov 2012 | $241 | Notice of Bankruptcy and first meeting of creditors dated Nov 20, 2012 |
| 8 | Unsecured | Billyard Insurance Co. Ltd.debtor: Ontario Insurance Brokers Ltd. · as of 19 Nov 2012 | $160 | Notice of Bankruptcy and first meeting of creditors dated Nov 20, 2012 |
| 8 | Unsecured | Shred-It · in 22 casesdebtor: Ontario Insurance Brokers Ltd. · as of 19 Nov 2012 | $123 | Notice of Bankruptcy and first meeting of creditors dated Nov 20, 2012 |
| 8 | Unsecured | ICS Courier · in 2 casesdebtor: Ontario Insurance Brokers Ltd. · as of 19 Nov 2012 | $97 | Notice of Bankruptcy and first meeting of creditors dated Nov 20, 2012 |
| 8 | Unsecured | Colonial Coffee Co. Ltd.debtor: Ontario Insurance Brokers Ltd. · as of 19 Nov 2012 | $44 | Notice of Bankruptcy and first meeting of creditors dated Nov 20, 2012 |
| 8 | Unsecured | Crawford & Company (Canada) Inc.debtor: Ontario Insurance Brokers Ltd. · as of 19 Nov 2012 | $25 | Notice of Bankruptcy and first meeting of creditors dated Nov 20, 2012 |
| 8 | Unsecured | Gore Mutual Insurance Company · in 3 casesdebtor: Ontario Insurance Brokers Ltd. · as of 19 Nov 2012 | $1 | Notice of Bankruptcy and first meeting of creditors dated Nov 20, 2012 |
| 8 | Unsecured | Union Gas · in 29 casesdebtor: Ontario Insurance Brokers Ltd. · as of 19 Nov 2012 | $1 | Notice of Bankruptcy and first meeting of creditors dated Nov 20, 2012 |
| 8 | Unsecured | Ministry of Finance - ON PST, EHT & Other Taxes · in 64 casesOntario provincial tax authority claim (PST/EHT). — debtor: Ontario Insurance Brokers Ltd. · as of 19 Nov 2012 | $1 | Notice of Bankruptcy and first meeting of creditors dated Nov 20, 2012 |
| 8 | Unsecured | RBC Royal Bank Visa · in 24 casesdebtor: Ontario Insurance Brokers Ltd. · as of 19 Nov 2012 | $1 | Notice of Bankruptcy and first meeting of creditors dated Nov 20, 2012 |
RecoveriesAs stated in the filings
Unsecured creditors: no distribution.EstimatedTrustee’s Report to the Creditors on Preliminary Administration · 6 Dec 2012
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Secured | — | — | shortfall | Estimatedper the trustee | Trustee’s Report to the Creditors on Preliminary Administration · 6 Dec 2012 |
| Unsecured | — | — | no distribution | Estimatedper the trustee | Trustee’s Report to the Creditors on Preliminary Administration · 6 Dec 2012 |
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$116K
Total liabilities at filing$1.94M
As at 19 Nov 2012 · per Statement of Affairs (Form 78) - as stated and estimated by the officer (Bradley Neal), not audited · Ontario Insurance Brokers Ltd. (single entity, non-consolidated) — Deficiency of $1,822,602.24 stated on the face of the Statement of Affairs. Total liabilities comprise: total unsecured creditors $1,863,877.32 (List "A" unsecured claims $1,098,368.92 plus balance of secured claims per List "B" $765,508.40), secured creditors per List "B" $66,135.60, preferred creditors per List "C" $8,724.92, and contingent/other liabilities $0.00.
Documents7 filings
| Date | Document | File |
|---|---|---|
Order of Discharge Sep 3 14.Ontario
| ||
| Form 11 – Notice of Final Dividend Mar 26 14.Ontario | ||
| Positive Letter of Comment – 35-1688343 | ||
| Final Statement of R&D.Ontario TAXED | ||
Certificate of Appointment – Form 19 – 35-1688343 – ONTARIO
| ||
Notice of Bankruptcy and first meeting of creditors dated Nov 20, 2012
| ||
Trustee’s Report to the Creditors on Preliminary Administration
| ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Ontario Insurance Brokers Ltd.” (Bankruptcy), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/ontario-insurance-brokers-ltd