RJ Burlington Inc.

RJ Burlington Inc. is in bankruptcy under the BIA. Its Statement of Affairs, as at August 31, 2020, reports total assets of $257,000 against total liabilities of $2,498,073.72, producing a deficiency of $2,241,073.72 and no surplus. Unsecured creditors total $2,079,354.72 in claims filed under List A plus a $227,423.00 unsecured shortfall from Bank of Montreal's undersecured claim, bringing total unsecured claims to $2,306,777.72. Secured creditors, comprising Bank of Montreal's security over business assets across two facilities, are valued at $146,296.00 against a combined claim of $373,719.00. Preferred creditors, a property lease claim held by 1475714 Ontario Inc., rank for a $45,000.00 dividend. Related-party shareholder loans account for a substantial share of the unsecured pool, led by a $1,420,916.00 claim from 249932 Ontario Inc.