#Report
Further court officer report recorded that Simandal Int'l Limited filed an assignment in bankruptcy on April 22, 2024.
Simandal Int'l Limited Sushi Shop
FollowActive
- Proceeding
- Bankruptcysection 49 of the Bankruptcy and Insolvency Act
- File
- 32-3070348
Filings held3
Last activity22 Apr 2024
On the record885 days
Secured debt$234K
OverviewSummary updated
Simandal Int'l Limited Sushi Shop filed an assignment in bankruptcy on April 19, 2024 in Ontario, with MNP Ltd. acting as Licensed Insolvency Trustee under court file 32-3070348. The Statement of Affairs shows assets of $8,000 on an estimated liquidation basis against total liabilities of $742,402.75, comprising $233,705.00 secured, $1 preferred and $508,696.75 unsecured. The secured claim is that of Canadian Imperial Bank of Commerce, supported by a CIBC security agreement and a PPSA registration over all assets of the company; CIBC has filed no proof of claim. Claims proven and filed to October 26, 2023 total $264.31. The trustee has determined that restaurant equipment was sold before the bankruptcy filing, and a preference claim against Ms. Wong is in issue. The estate remains active.
Proceedings AIAsk this case — answers cite the filings
Case updates3 dated entries
#Claims
Assignment filed on April 19, 2024 under the BIA, putting the company into bankruptcy with MNP Ltd. as Licensed Insolvency Trustee; court file 32-3070348.
Source: Notice to Creditors regarding the Bankruptcy and First Meeting of Creditors
#Report
Court officer report fixed the date and time of bankruptcy as April 19, 2024 at 15:53, establishing the commencement of the Ontario proceeding.
Source: Certificate of Appointment dated
Parties
Debtor
Simandal Int'l Limited Sushi Shop
Trustee in bankruptcy
MNP
Capital structureAs asserted in the filings
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Canadian Imperial Bank of Commerce (CIBC) · in 67 casesas of Statement of Affairs — PPSA registration over all assets of the Company; CIBC Security Agreement — Per Statement of Affairs; no proof of claim filed by CIBC to date (Proven & Filed to October 26, 2023: Nil). Any recovery from preference claim against Ms. Wong likely subject to CIBC's secured claim if filed. — debtor: Simandal Int'l Limited | $234K | Trustee's Preliminary Report dated |
| 6 | Landlord preferred | Sun Life Assurance Company of Canada · in 22 casesPreferred creditor (BIA List C) - Landlord, Port Street Market; amount payable in full $0.00, difference ranking for dividend $1.00 — debtor: Simandal Int'l Limited · as of 19 Apr 2024 | $1 | Notice to Creditors regarding the Bankruptcy and First Meeting of Creditors |
| 8 | Unsecured | Iun Via WongShareholder Loan - related party; Iun Via Wong is also the officer who swore the Statement of Affairs — debtor: Simandal Int'l Limited · as of 19 Apr 2024 | $508K | Notice to Creditors regarding the Bankruptcy and First Meeting of Creditors |
| 8 | Unsecured | CIBC Bankruptcies c/o TECHCOM Managed Services (Loan #05422 7117558) · in 12 casesUnsecured shortfall (balance of claim) of the CIBC secured claim in List B; total CIBC claim $233,705.00 of which $8,001.00 is secured. — debtor: Simandal Int'l Limited · as of 19 Apr 2024 | $226K | Notice to Creditors regarding the Bankruptcy and First Meeting of Creditors |
| 8 | Unsecured | MTY Franchising Inc. · in 2 casesFranchisor — debtor: Simandal Int'l Limited · as of 19 Apr 2024 | $299 | Notice to Creditors regarding the Bankruptcy and First Meeting of Creditors |
| 8 | Unsecured | Maheu&Mahau Pest Controldebtor: Simandal Int'l Limited · as of 19 Apr 2024 | $264 | Notice to Creditors regarding the Bankruptcy and First Meeting of Creditors |
| 8 | Unsecured | Canada Revenue Agency - GST/HST - Jonquiere · in 2 casesCRA GST/HST (account 771308509 RT0001/RC0001) - deemed trust class — debtor: Simandal Int'l Limited · as of 19 Apr 2024 | $1 | Notice to Creditors regarding the Bankruptcy and First Meeting of Creditors |
| 8 | Unsecured | Region of Peel - Water Departmentdebtor: Simandal Int'l Limited · as of 19 Apr 2024 | $1 | Notice to Creditors regarding the Bankruptcy and First Meeting of Creditors |
| 8 | Unsecured | Alectra Utilities (formerly Horizon Utilities Corporation) · in 39 casesdebtor: Simandal Int'l Limited · as of 19 Apr 2024 | $1 | Notice to Creditors regarding the Bankruptcy and First Meeting of Creditors |
| 8 | Unsecured | Bell Mobility (c/o FCT Default Solutions) · in 83 casesdebtor: Simandal Int'l Limited · as of 19 Apr 2024 | $1 | Notice to Creditors regarding the Bankruptcy and First Meeting of Creditors |
| 8 | Unsecured | Enbridge Gas Distribution - Ontario · in 54 casesdebtor: Simandal Int'l Limited · as of 19 Apr 2024 | $1 | Notice to Creditors regarding the Bankruptcy and First Meeting of Creditors |
| 8 | Unsecured | Bell Canada - Residential (c/o FCT Default Solutions) · in 5 casesdebtor: Simandal Int'l Limited · as of 19 Apr 2024 | $1 | Notice to Creditors regarding the Bankruptcy and First Meeting of Creditors |
| 8 | Unsecured | BentallGreenOak (Canada) Limited Partnership (c/o Sun Life Assurance Company) · in 4 casesTotal claim stated as $0.00 — debtor: Simandal Int'l Limited · as of 19 Apr 2024 | $0 | Notice to Creditors regarding the Bankruptcy and First Meeting of Creditors |
RecoveriesAs stated in the filings
Unsecured creditors: no distribution.EstimatedTrustee's Preliminary Report dated · 9 May 2024
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Unsecured | — | — | no distributionconditional | Estimatedper the trustee | Trustee's Preliminary Report dated · 9 May 2024 |
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$8K
Total liabilities at filing$742K
As at 19 Apr 2024 · per Statement of Affairs (Form 78, Business Bankruptcy) as stated and estimated by the officer · Entity - Simandal Int'l Limited (City of Mississauga, Ontario) — Total unsecured creditors $734,400.75 (unsecured per List A $508,696.75 plus balance of secured claims per List B $225,704.00); secured creditors per List B $8,001.00; preferred creditors per List C $1.00; contingent/trust/other per List D $0.00. Total assets $8,001.00 (machinery/leasehold improvement estimated to produce $8,000.00 against original cost $366,000.00, plus $1.00 cash); deficiency $734,401.75; surplus NIL. Date of bankruptcy 19-Apr-2024.
Documents3 filings
| Date | Document | File |
|---|---|---|
Trustee's Preliminary Report dated
| ||
Notice to Creditors regarding the Bankruptcy and First Meeting of Creditors
| ||
Certificate of Appointment dated
| ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Simandal Int'l Limited Sushi Shop” (Bankruptcy). Retrieved 20 September 2026, https://proceedings.ca/case/simandal