Smith Creative and Finishing Services Limited filed a notice of intention to make a proposal on 30 September 2016 under subsection 50.4(1) of the Bankruptcy and Insolvency Act (file 31-2172713) in Ontario, with The Fuller Landau Group Inc. as licensed insolvency trustee. Its statement of affairs reports total assets of $165,766.47 against total liabilities of $1,312,985.97 and a deficiency of $1,147,219.50, with secured creditors of $165,766.47. The Royal Bank of Canada's claim of $1,149,218.67 is secured against $165,766.47, leaving an unsecured balance of $983,452.20; other unsecured claims include Gary Thomas at $72,000.
A claims procedure has been established — see the order for deadlines.
The officer filed a report. The Company ceased operations after its landlord terminated the lease for non-payment of rent; the Trustee has not taken possession of the premises or assets, which remain in the landlord's control, and is pursuing liquidation proposals/LOIs for the equipment and inventory rather than continued operations.
Source: Preliminary Report to Creditors
Smith Creative and Finishing Services Limited filed a notice of intention to make a proposal on 30 September 2016.
Debtor
Smith Creative and Finishing Services Limited
Proposal trustee
Fuller Landau
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Royal Bank of Canada · in 584 casesDebts Due - Business - Accounts receivable; Business Assets - Machinery and equipment; Furniture - Miscellaneous furniture; Cash on Hand - Chequing - 1124429 - RBC (all given 29-May-2015) — Balance of claim shown as $983,452.20 after estimated security value of $165,766.47; total unsecured claims list also shows balance of secured claim of $983,452.20 attributable to this creditor — debtor: Smith Creative and Finishing Services Limited · as of 1 Nov 2016 | $1.15M | Statement of Affairs |
| 7 | Preferred (BIA s. 136) | |||
| 7 | Preferred (BIA s. 136) | |||
| 7 | Preferred (BIA s. 136) | |||
| 7 | Preferred (BIA s. 136) | |||
| 7 | Preferred (BIA s. 136) | |||
| 7 | Preferred (BIA s. 136) | |||
| 7 | Preferred (BIA s. 136) | |||
| 7 | Preferred (BIA s. 136) | |||
| 7 | Preferred (BIA s. 136) |
57 more claims in 2 classes The stack holds Secured, Preferred (BIA s. 136) and Unsecured claims.
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The 2 totals the debtor stated at filing
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See all plans| Date | Document | File |
|---|---|---|
Preliminary Report to Creditors
| PDF · Subscribers | |
Certificate of Assignment
| PDF · Subscribers | |
Statement of Affairs
| PDF · Subscribers | |
Notice to Creditors
| PDF · Subscribers | |
Certificate of Filing of a Notice of Intention
| PDF · Subscribers | |
| Proof of Claim | PDF · Subscribers | |
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CiteProceedings., “Smith Creative and Finishing Services Limited” (NOI). Retrieved 5 November 2026, https://proceedings.ca/case/smith-creative-and-finishing-services-limited
Sources last checked · summary updated 24 August 2026 · Report a correction · Printed from proceedings.ca/case/smith-creative-and-finishing-services-limited
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.