Samuel Property Management Ltd.
Follow- Proceeding
- ProposalBIA Div. I
- File
- 31-1687015
Samuel Property Management Ltd. filed a Notice of Intention on November 15, 2012, followed by a Proposal under Division I of the BIA. A Statement of Affairs sworn May 2, 2013 lists total assets of $295,068 and combined preferred and unsecured claims of $1,888,569; after Deborah Sisera ($888,690) and Dolly Catena ($137,479) agreed not to file claims, the Proposal addresses approximately $862,400 in remaining preferred and unsecured claims. Royal Bank of Canada holds a General Security Agreement over all assets, with a balance of $94,129.32 as of May 2, 2013 anticipated to grow to approximately $215,000, to be paid in full under the Proposal. CRA's deemed-trust claim is to be paid in full within six months of Court Approval. The Trustee's bankruptcy-scenario analysis estimates nil distribution to unsecured and preferred creditors.
Order re 2nd Extension of Proposal deadline – Jan 22, 2013 was filed. Court file 31-1687015.
Source: Order re 2nd Extension of Proposal deadline – Jan 22, 2013
Debtor
Samuel Property Management Ltd.
Proposal trustee
Albert Gelman
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Associate Judge Short | Ontario Superior Court of Justice | 2 orders, Jan 2013 – Mar 2013 | 4 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| Proposal trusteeAlbert Gelman | Lipman, Zener & Waxman LLP | 1 Oct 2013 | Order · 1 Oct 2013 |
| CreditorProponent | Lipman, Zener & Waxman LLP | 12 Mar 2013 | Order · 12 Mar 2013 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Royal Bank of Canada · in 556 casesGeneral Security Agreement (GSA) - first ranking charge against all of Samuel's assets; validity and enforceability confirmed by independent legal opinion; RBC Operating Line of Credit capped at $175,000 — SOA-stated balance as at May 2, 2013 comprising: RBC LOC (capped at $175,000) drawn to $55,000; two VISA accounts $15,106.39 and $1,529.71; legal fees $22,493.22. Trustee anticipates the claim will grow to approximately $215,000 assuming full drawdown of the $175,000 LOC plus additional accrued interest/legal fees (forecast). Trustee's separate bankruptcy liquidation analysis (page 5) estima · as of 2 May 2013 | $94.1K | Creditors package re Proposal.Samuel |
| 4 | Secured | Financialinx CorporationNamed as a Secured Creditor under the Proposal; nature of security and amount not disclosed in this document — Proposal is not made to this secured creditor; payment to be made in the usual manner or as agreed between the Debtor and the creditor — debtor: Samuel Property Management Ltd. | — | Creditors package re Proposal.Samuel |
| 5 | PMSI / lessors | PPSA equipment financiers (PMSI class) - Nissan Canada Finance (a Division of Nissan Canada Inc.) and Honda Canada Finance Inc. · in 183 casesNamed as Secured Creditors under the Proposal (vehicle/equipment financing); nature of registered security not further detailed — Proposal is not made to these secured creditors; payment to be made in the usual manner or as agreed between the Debtor and these creditors; balances owing not disclosed in this document — debtor: Samuel Property Management Ltd. | — | Creditors package re Proposal.Samuel |
| 6 | Landlord preferred | Claims of employees for unpaid wages and vacation payas of Trustee's estimate in the event of bankruptcy — Preferred claim ranking ahead of secured and unsecured creditors over current assets; figure is a forecast/estimate for the bankruptcy scenario, distinct from treatment of employee claims under Proposal paragraph 4(b) (s.136(1)(d) BIA amounts) — debtor: Samuel Property Management Ltd. | $60K | Creditors package re Proposal.Samuel |
| 7 | Preferred (BIA s. 136) | Preferred and unsecured creditors (remaining, aggregate as reported)as of NOI filing date (November 15, 2012) — Document names no individual creditors within this remaining aggregate; combined preferred and unsecured total per SOA is $1,888,569 — debtor: Samuel Property Management Ltd. | $862K | Creditors package re Proposal.Samuel |
| 8 | Unsecured | Deborah Siseraas of NOI filing date (November 15, 2012) — Related party - Mr. Sisera's wife; agreed under the Proposal not to file a claim and will not participate in distributions to unsecured creditors — debtor: Samuel Property Management Ltd. | $889K | Creditors package re Proposal.Samuel |
| 8 | Unsecured | Dolly Catenaas of NOI filing date (November 15, 2012) — Related party - Mr. Sisera's sister; agreed under the Proposal not to file a claim and will not participate in distributions to unsecured creditors — debtor: Samuel Property Management Ltd. | $137K | Creditors package re Proposal.Samuel |
| 8 | Unsecured | Century Standard Developments Corporation (Unsecured Landlord)Amount not quantified in the document; landlord will likely offset prepaid last month's rent deposit ($16,832) against its damages claim — debtor: Samuel Property Management Ltd. | — | Creditors package re Proposal.Samuel |
| 8 | Unsecured | Unsecured Employees (disclaimed/resiliated employment agreements) - Mary Majidi, Georgina Chan, Silus StanciuIndividual claim amounts not stated in the document — debtor: Samuel Property Management Ltd. | — | Creditors package re Proposal.Samuel |
| 8 | Unsecured | Canada Revenue Agency / Her Majesty in Right of Canada or a provinceDeemed-trust class claim; specific dollar amount not stated in this document — debtor: Samuel Property Management Ltd. | — | Creditors package re Proposal.Samuel |
“not stated” means the record names the claim without a figure; “—” means not in the extracted record.
Preferred creditors: $150K. Royal Bank of Canada paid in full.Under the plan · implementedCreditors package re Proposal.Samuel · 9 May 2013
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| SecuredRBC (secured claim) | Royal Bank of Canada | — | paid in full | Under the planimplementedper the trustee | Creditors package re Proposal.Samuel · 9 May 2013 |
| Preferred | — | $862Klisted | $150Kconditional | Under the planimplementedper the trustee | Creditors package re Proposal.Samuel · 9 May 2013 |
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.
As at 2 May 2013 · per Trustee's analysis of net book value per Company's records (unaudited) · Samuel Property Management Ltd. (entity only) — Table also shows Trustee's estimated realizable value in the event of bankruptcy of $6,000 total; after deducting estimated employee priority claims ($60,000) and estimated RBC secured claim ($214,129), Trustee estimates nil distribution available to unsecured and preferred creditors. Total liabilities are not aggregated in this table; combined preferred and unsecured claims are separately stated elsewhere as $1,888,569 (page 9), and the RBC secured claim is separately stated as $94,129.32 per SOA (page 8), with an anticipated increase to approximately $215,000 (page 9).
| Date | Document | File |
|---|---|---|
| Form 46 – Certificate of Full Performance.Samuel | ||
Order Approving Proposal – Oct 1 2013
| ||
Order re approval of sale – Oct 1 2013
| ||
Creditors package re Proposal.Samuel
| ||
| Certificate Of Filing – 31-1687015 | ||
Order re 3rd Extension of Proposal deadline – Mar 12, 2013
| ||
Order re 2nd Extension of Proposal deadline – Jan 22, 2013
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Order.extension.Dec 11, 2012.SAMUEL
| ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Samuel Property Management Ltd.” (Proposal), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/samuel-property-management-ltd