Proceedings.

Slang Worldwide Inc.

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Proceeding
Bankruptcysection 49 of the Bankruptcy and Insolvency Act
File
31-3157729
Filings held3
Last activity25 Nov 2024
On the record665 days
Secured debtSubscribers
OverviewSummary updated

Slang Worldwide Inc. filed an assignment in bankruptcy on November 25, 2024 under the BIA in Ontario, court file 31-3157729, with B. Riley Farber Inc. acting as licensed trustee of the estate. The Statement of Affairs reports total assets of $107,325.00 against total liabilities of $27,227,966.54, comprising a secured claim of $107,325.00 limited to realizable property value, no preferred claims, and unsecured claims of $27,120,641.54. Claims filed with the trustee total $23,292,708.53, of which $23,286,690.30 is secured and $6,018.23 unsecured. All property of the company is encumbered in favour of the Secured Lenders, whose security is registered under the Ontario PPSA by Seventh Avenue Investments, LLC as administrative and collateral agent and sole registrant. A legal opinion on the validity of that security is pending, a shortfall to the Secured Lenders is anticipated, and no surplus is expected for preferred or unsecured creditors. The estate remains active.

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Case updates3 dated entries
#Claims

Slang Worldwide filed an assignment in bankruptcy, placing the estate under B. Riley Farber Inc. as licensed trustee and fixing the date for claims filed.

Source: Creditor Package

#Report

Further court officer report filed the same day, recording that the Company made an Assignment for the General Benefit of Creditors on November 25, 2024.

Source: Trustee Preliminary Report

Parties

Debtor

Slang Worldwide Inc.

Trustee in bankruptcy

GlassRatner

Capital structureAs asserted in the filings
Priority classCreditorAmountSource
SecuredSecured Lenders (Pura Vida Master Fund, Ltd.; Pura Vida Pro Special Opportunity Master Fund, Ltd.; Irv Kessler; Joad Investments, LLC; 12th Street Holdings, LLC; Eric Frank; Seventh Avenue Investments · in 2 casesas of date of bankruptcy (filed with Trustee) — All Property of the Company encumbered in favour of the Secured Lenders; security registered under PPSA (Ontario) by Seventh Avenue Investments, LLC (only registrant against the Company) — Per Statement of Affairs the secured claim was $107,325.00 (limited to realizable Property value); amount reflects claims filed with Trustee as of date of bankruptcy. Legal opinion on validity of security pending; shortfall anticipated to Secured Lenders. — debtor: Slang Worldwide Inc.$23.3MTrustee Preliminary Report

1 more claim across lower-ranking classes

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RecoveriesAs stated in the filings

Preferred creditors: no distribution. Secured Lenders short.EstimatedTrustee Preliminary Report · 16 Dec 2024

ClassCreditorClaimsRecoveryBasisSource
SecuredSecured LendersshortfallconditionalEstimatedper the trusteeTrustee Preliminary Report · 16 Dec 2024
Preferredpreferred or unsecured creditorsno distributionEstimatedper the trusteeTrustee Preliminary Report · 16 Dec 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

The debtor’s own statement of its total assets and liabilities at filing is in the record — Subscribers

Documents3 filings
DateDocumentFile
Trustee Preliminary Report
  • Appointee B. Riley Farber Inc.
  • Appointee role Licensed Trustee of the bankruptcy estate
  • Commencement date 25 November 2024
  • Financial position Subscribers
  • + 5 more extracted facts
PDF · Subscribers
Creditor Package
  • Commencement date 25 November 2024
  • Province ONTARIO
  • Financial position Subscribers
PDF · Subscribers
Certificate of Appointment
  • Appointee B. Riley Farber Inc.
  • Appointee role Licensed Insolvency Trustee
  • Commencement date 25 November 2024
  • Court file no 31-3157729
  • + 1 more extracted fact
PDF · Subscribers

Filing titles and dates are public, and so is each filing's own page. The figures read from them are for subscribers.

CiteProceedings., “Slang Worldwide Inc.” (Bankruptcy). Retrieved 20 September 2026, https://proceedings.ca/case/slang-worldwide-inc

Sources last checked · summary updated 19 August 2026 · Report a correction · Printed from proceedings.ca/case/slang-worldwide-inc

Facts and summaries are extracted automatically from the court filings linked on each page; the filings remain the authoritative record. Suggested corrections are reviewed against the source filings.