Satin Finish Hardwood Flooring, Limited

Satin Finish Hardwood Flooring, Limited — now Prodtor Inc. — has been bankrupt in Ontario under the BIA since June 15, 2019, with MNP Ltd. acting as Licensed Insolvency Trustee under estate file 31-2459849. The purchase price under the Transaction was the purchaser's assumption of Prodtor's indebtedness to CIBC, approximately $13,500,000 and secured by a registered PPSA interest that the Proposal Trustee confirmed as valid, enforceable and properly registered on an independent legal opinion from Goldman Sloan Nash & Haber LLP. The Statement of Affairs sworn June 21, 2019 put estimated realizable assets at $10,770,993 immediately prior to closing, against claims of $37,792,978 across all categories, including $23,859,197 unsecured and $13,784,661 secured and deemed trust. Proofs of claim filed as of July 5, 2019 totalled $1,657,918. Given the amount owed to secured creditors, no funds are expected to be available for distribution.