Outdoors by Design Inc

Outdoors by Design Inc filed a Division I proposal under section 62(1) of the Bankruptcy and Insolvency Act on July 7, 2023, with BDO Canada Limited acting as Licensed Insolvency Trustee before the Supreme Court of Newfoundland and Labrador. On the company's unaudited internal records as at December 31, 2022, assets were $383,000 — estimated book value of equipment at $15,000 and property at $368,000 — against liabilities of $470,500, comprising $117,000 owed to a single secured creditor holding a mortgage on the property and $353,500 owed to approximately 16 unsecured creditors, with no preferred claims. Estimated net realizations after commissions and priority claims range from $300,000 to $402,000. Deferred creditor claims of $96,896 rank behind unsecured proven claims paid in full. The proceeding remains active, and the court granted an interim order on October 5, 2023.