Passion Automobile Investments Ltd.
Follow- Proceeding
- ProposalSection 59(3) of the Bankruptcy and Insolvency Act
- File
- 24-3210371
Passion Automobile Investments Ltd. filed a Proposal under Division I of the Bankruptcy and Insolvency Act. Its Statement of Affairs, as at April 10, 2025, reports total assets of $45,940.00 against total liabilities of $522,073.14, a deficiency of $476,133.14. Liabilities consist of $277,156.65 in unsecured claims and a $244,916.49 CRA deemed-trust claim, with no secured or preferred claims. Three General Security Agreement holders - Bizfund Canada Ltd., On Deck Capital Canada, Inc., and Vision Credit Union Ltd. (Two Hills Branch) - hold blanket security over all property valued at nil against CRA's priority claim, and under the Proposal are to file as unsecured creditors, with their registrations discharged on completion.
Debtor
Passion Automobile Investments Ltd.
Proposal trustee
Hudson & Company Insolvency Trustees
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | On Deck Capital Canada, Inc. · in 7 casesas of date of filing of Proposal (April 10, 2025) — General Security Agreement (blanket all-property) registered on Personal Property Registry — Proposal states value of GSA Holders' security is valued at NIL when compared against CRA's deemed-trust priority claim; GSA Holder to file as an unsecured creditor and registration is to be discharged on completion of the Proposal (see also unsecured listing). — debtor: Passion Automobile Investments Ltd. | $0 | Creditor Package |
Unsecured creditors: paid in full.Under the plan · sanctionedMinutes of MOC · 7 Aug 2025
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Preferred | — | — | paid in full | Under the plansanctionedper the trustee | Minutes of MOC · 7 Aug 2025 |
| Unsecured | — | — | paid in fullconditional | Under the plansanctionedper the trustee | Minutes of MOC · 7 Aug 2025 |
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
| Date | Document | File |
|---|---|---|
Order Approving Proposal
| PDF · Subscribers | |
Minutes of MOC
| PDF · Subscribers | |
Creditor Package
| 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., “Passion Automobile Investments Ltd.” (Proposal), Court of King's Bench of Alberta. Retrieved 20 September 2026, https://proceedings.ca/case/passion-automobile-investments-ltd