#Report
Bankruptcy took effect at 11:39, with MNP Ltd. acting as Licensed Insolvency Trustee under estate number 31-2871157 in Ontario.
Source: Certificate of Appointment
Princeton Academy of Canada Inc.
FollowActive
- Proceeding
- BankruptcySubsection 102(1) of the Act
- File
- 31-2871157
Filings held3
Last activity3 Oct 2022
On the record1,449 days
Secured debt$440K
OverviewSummary updated
Princeton Academy of Canada Inc. executed an assignment in bankruptcy on September 30, 2022, which MNP Ltd. filed as Licensed Insolvency Trustee; the date and time of bankruptcy is recorded as October 03, 2022, 11:39, under estate number 31-2871157 in Ontario. The Statement of Affairs as at September 30, 2022 reports assets of $19.76 in cash in bank and $800.00 in furniture, totalling $819.76, against liabilities of $440,266.43 secured, no preferred claims and $193,401.00 unsecured, a reported total of $441,086.19. The secured claim is that of Royal Bank of Canada under a PPSA security agreement covering inventory, equipment, accounts, other collateral and a motor vehicle; the trustee reviewed that security and believes it valid and enforceable. As at October 21, 2022, claims proven and filed stood at $0 across all classes, with no proof of claim received from RBC.
Claims processIf you are owed money
A claims procedure has been established — see the order for deadlines.
Proceedings AIAsk this case — answers cite the filings
Case updates3 dated entries
#Report
The Company executed an assignment in bankruptcy, which MNP Ltd. filed; the Statement of Affairs is stated as at this date, showing $819.76 in assets.
Parties
Debtor
Princeton Academy of Canada Inc.
Trustee in bankruptcy
MNP
Capital structureAs asserted in the filings
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Royal Bank of Canada · in 556 casesas of Statement of Affairs (September 30, 2022) — PPSA security agreement over Inventory, Equipment, Accounts, Other, Motor Vehicle — Per Statement of Affairs amount $440,266.43; per Proven & Filed to October 21, 2022, $0 (no proof of claim received from RBC). Trustee reviewed security and believes it is valid and enforceable. — debtor: Princeton Academy of Canada Inc. | $440K | Trustee's Preliminary Report dated |
| 8 | Unsecured | Unsecured creditors (aggregate as reported) · in 532 casesas of Statement of Affairs (September 30, 2022) — Document names no individual creditors. Per Proven & Filed to October 21, 2022, $0 unsecured claims proven and filed. — debtor: Princeton Academy of Canada Inc. | $193K | Trustee's Preliminary Report dated |
RecoveriesAs stated in the filings
Unsecured creditors: no distribution.EstimatedTrustee's Preliminary Report dated · 21 Oct 2022
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Unsecured | — | — | no distribution | Estimatedper the trustee | Trustee's Preliminary Report dated · 21 Oct 2022 |
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$820
Total liabilities at filing$441K
As at 30 Sep 2022 · per Statement of Affairs as reported · entity - Princeton Academy of Canada Inc. — Assets: $19.76 cash in bank and $800.00 furniture per Statement of Affairs. Liabilities: Secured $440,266.43, Preferred $0, Unsecured $193,401.00, total $441,086.19 per Statement of Affairs; Proven & Filed to October 21, 2022 totals $0 across all classes.
Documents3 filings
| Date | Document | File |
|---|---|---|
Trustee's Preliminary Report dated
| ||
Certificate of Appointment
| ||
Creditor's Package for Filing Proof of Claim
| ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Princeton Academy of Canada Inc.” (Bankruptcy). Retrieved 20 September 2026, https://proceedings.ca/case/princeton-academy-of-canada-inc