#Report
Trustee's Report to Creditors on Preliminary Administration dated February 19, 2019 — Court officer report
Spadafora, Mark
FollowActive
- Proceeding
- Bankruptcysection 43(9) of the Bankruptcy and Insolvency Act
- File
- 32-2464621
Filings held4
Last activity19 Feb 2019
On the record2,805 days
Secured debt$1.89M
OverviewSummary updated
Mark Spadafora is the subject of bankruptcy proceedings under the Bankruptcy and Insolvency Act commenced on January 16, 2019 in the Ontario Superior Court of Justice in Bankruptcy and Insolvency on the application of Laurentian Bank of Canada, with KSV Kofman Inc. as trustee under court files 31-OR-20831-T and 32-2464621. Laurentian's claim of $1,890,000 as at the date of the application for the bankruptcy order rests on personal guarantees Spadafora gave for secured loans to the Companies, which were the subject of demand letters in June 2018. His Statement of Affairs reported approximately $11,000 in assets and the trustee does not anticipate material realizations. Proofs of claim filed total approximately $3.2 million, including approximately $710,000 from Recipe Unlimited Corporation, with a further guarantee claim of approximately $1.5 million from Silver Chef Rentals Inc. in the course of being filed and unquantified Canada Revenue Agency claims arising from his role as sole director.
Proceedings AIAsk this case — answers cite the filings
Case updates4 dated entries
#Claims
Notice of Bankruptcy and Impending Automatic Discharge dated February 4, 2019 — Notice to creditors
#Order
Certificate of Filing of a Bankruptcy Order dated January 16, 2019 was filed. Court file 32-2464621.
Source: Certificate of Filing of a Bankruptcy Order dated January 16, 2019
#Order
An interim order was granted, commencing the bankruptcy proceedings brought against Spadafora by Laurentian Bank of Canada, with KSV Kofman Inc. as trustee.
Parties
Debtor
Spadafora, Mark
Trustee in bankruptcy
AlixPartners
Capital structureAs asserted in the filings
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Laurentian Bank of Canada · in 15 casesas of date of application for Bankruptcy Order — Personal guarantees provided by Mark Spadafora for secured loans made by Laurentian to the Companies — Secured against the Companies via loans; Spadafora liable as guarantor. Demand letters issued to Companies June 2018; debt remains outstanding as at date of report. — debtor: Mark Spadafora | $1.89M | Trustee's Report to Creditors on Preliminary Administration dated February 19, 2019 |
| 7 | Preferred (BIA s. 136) | Canada Revenue Agency · in 926 casesPREFERRED claim (LTC 6); deemed-trust/tax class; acct 731817774; Shawinigan-Sud National Verification and Collection Centre QC; included in SOA preferred total $495,335.00 · as of 31 Jan 2019 | $399K | Notice of Bankruptcy and Impending Automatic Discharge dated February 4, 2019 |
| 7 | Preferred (BIA s. 136) | Canada Revenue Agency · in 926 casesPREFERRED claim (LTC 6); deemed-trust/tax class; acct 731817108; Shawinigan-Sud QC; included in SOA preferred total $495,335.00 · as of 31 Jan 2019 | $74.5K | Notice of Bankruptcy and Impending Automatic Discharge dated February 4, 2019 |
| 7 | Preferred (BIA s. 136) | Canada Revenue Agency · in 926 casesPREFERRED claim (LTC 6); deemed-trust/tax class; acct 731817486; Shawinigan-Sud QC; included in SOA preferred total $495,335.00 · as of 31 Jan 2019 | $21.8K | Notice of Bankruptcy and Impending Automatic Discharge dated February 4, 2019 |
| 8 | Unsecured | LBC Capital Inc.LTC 3 (finance company loan); largest single unsecured claim; Burlington ON · as of 31 Jan 2019 | $1.89M | Notice of Bankruptcy and Impending Automatic Discharge dated February 4, 2019 |
| 8 | Unsecured | Canada Revenue Agency · in 926 casesContingent (deemed-trust/tax class, LTC 6); acct 805597960RT0001; shown $0.00 in debt columns, SOA states 'Contingent $ = 244,097.84'; excluded from stated debt totals · as of 31 Jan 2019 | $244K | Notice of Bankruptcy and Impending Automatic Discharge dated February 4, 2019 |
| 8 | Unsecured | Canada Revenue Agency · in 926 casesContingent (deemed-trust/tax class, LTC 6); acct 805597960RP0001; shown $0.00 in debt columns, SOA states 'Contingent $ = 226,066.35'; excluded from stated debt totals · as of 31 Jan 2019 | $226K | Notice of Bankruptcy and Impending Automatic Discharge dated February 4, 2019 |
| 8 | Unsecured | Canada Revenue Agency · in 926 casesContingent (deemed-trust/tax class, LTC 6); acct 106391360RP0001; shown $0.00 in debt columns, SOA states 'Contingent $ = 207,558.15'; excluded from stated debt totals · as of 31 Jan 2019 | $208K | Notice of Bankruptcy and Impending Automatic Discharge dated February 4, 2019 |
| 8 | Unsecured | Canada Revenue Agency · in 926 casesContingent (deemed-trust/tax class, LTC 6); acct 752927723RP; shown $0.00 in debt columns, SOA states 'Contingent $ = 193,974.90'; excluded from stated debt totals · as of 31 Jan 2019 | $194K | Notice of Bankruptcy and Impending Automatic Discharge dated February 4, 2019 |
| 8 | Unsecured | Canada Revenue Agency · in 926 casesContingent (deemed-trust/tax class, LTC 6); acct 788997120RP0001; shown $0.00 in debt columns, SOA states 'Contingent $ = 192,187.79'; excluded from SOA's stated debt totals · as of 31 Jan 2019 | $192K | Notice of Bankruptcy and Impending Automatic Discharge dated February 4, 2019 |
| 8 | Unsecured | Canada Revenue Agency · in 926 casesContingent (deemed-trust/tax class, LTC 6); acct 805599362RP0001 (this account number appears twice in the SOA); shown $0.00 in debt columns, SOA states 'Contingent $ = 175,735.15'; excluded from stated debt totals · as of 31 Jan 2019 | $176K | Notice of Bankruptcy and Impending Automatic Discharge dated February 4, 2019 |
| 8 | Unsecured | Canada Revenue Agency · in 926 casesContingent (deemed-trust/tax class, LTC 6); acct 805599362RP0001; shown $0.00 in debt columns, SOA states 'Contingent $ = 165,876.31'; excluded from stated debt totals · as of 31 Jan 2019 | $166K | Notice of Bankruptcy and Impending Automatic Discharge dated February 4, 2019 |
| 8 | Unsecured | Canada Revenue Agency · in 926 casesContingent (deemed-trust/tax class, LTC 6); acct 788997120RT0001; shown $0.00 in debt columns, SOA states 'Contingent $ = 162,799.08'; excluded from stated debt totals · as of 31 Jan 2019 | $163K | Notice of Bankruptcy and Impending Automatic Discharge dated February 4, 2019 |
| 8 | Unsecured | Canada Revenue Agency · in 926 casesContingent (deemed-trust/tax class, LTC 6); acct 752927723RT; shown $0.00 in debt columns, SOA states 'Contingent $ = 113,052.94'; second of two identical 752927723RT rows (apparent duplicate in the SOA); excluded from stated debt totals · as of 31 Jan 2019 | $113K | Notice of Bankruptcy and Impending Automatic Discharge dated February 4, 2019 |
| 8 | Unsecured | Canada Revenue Agency · in 926 casesContingent (deemed-trust/tax class, LTC 6); acct 106391360RT0001; shown $0.00 in debt columns, SOA states 'Contingent $ = 82,624.87'; excluded from stated debt totals · as of 31 Jan 2019 | $82.6K | Notice of Bankruptcy and Impending Automatic Discharge dated February 4, 2019 |
| 8 | Unsecured | Canada Revenue Agency · in 926 casesUnsecured (deemed-trust/tax class, LTC 6); acct 000681946350; Shawinigan-Sud QC; included in SOA unsecured total $1,997,121.94 · as of 31 Jan 2019 | $36.2K | Notice of Bankruptcy and Impending Automatic Discharge dated February 4, 2019 |
| 8 | Unsecured | Meridian Credit Union c/o CRM UplevelLTC 3; acct 1261901; Stratford ON · as of 31 Jan 2019 | $22.5K | Notice of Bankruptcy and Impending Automatic Discharge dated February 4, 2019 |
| 8 | Unsecured | CIBC c/o Metropolitan Credit AdjustersLTC 4 (bank/trust credit card); acct 4504400022331420; Mississauga ON · as of 31 Jan 2019 | $18.7K | Notice of Bankruptcy and Impending Automatic Discharge dated February 4, 2019 |
| 8 | Unsecured | Canadian Tire Bank - MastercardLTC 4 (bank/trust credit card); acct 5259950785992101 · as of 31 Jan 2019 | $17.6K | Notice of Bankruptcy and Impending Automatic Discharge dated February 4, 2019 |
| 8 | Unsecured | CWB National Leasing Inc. c/o CGI Credit Guard Inc.LTC 9 (Other); File No. 48297; Mississauga ON · as of 31 Jan 2019 | $7.17K | Notice of Bankruptcy and Impending Automatic Discharge dated February 4, 2019 |
| 8 | Unsecured | CIBC c/o Common Collection AgencyLTC 4 (bank/trust credit card); acct 9570034662; Scarborough ON · as of 31 Jan 2019 | $6.2K | Notice of Bankruptcy and Impending Automatic Discharge dated February 4, 2019 |
| 8 | Unsecured | National Leasing Group Inc. · in 52 casesNominal $1.00 in SOA (amount not quantified); LTC 9; Winnipeg MB · as of 31 Jan 2019 | $1 | Notice of Bankruptcy and Impending Automatic Discharge dated February 4, 2019 |
| 8 | Unsecured | Lendified Inc. · in 2 casesNominal $1.00 in SOA (amount not quantified); LTC 3; Toronto ON · as of 31 Jan 2019 | $1 | Notice of Bankruptcy and Impending Automatic Discharge dated February 4, 2019 |
| 8 | Unsecured | Indcom Leasing Inc. · in 6 casesNominal $1.00 in SOA (amount not quantified); LTC 9; Oldcastle ON · as of 31 Jan 2019 | $1 | Notice of Bankruptcy and Impending Automatic Discharge dated February 4, 2019 |
| 8 | Unsecured | ICapitalNominal $1.00 in SOA (amount not quantified); LTC 3; Attn: Domenic Sgambelluri; Toronto ON · as of 31 Jan 2019 | $1 | Notice of Bankruptcy and Impending Automatic Discharge dated February 4, 2019 |
| 8 | Unsecured | Federated Cash LLCNominal $1.00 in SOA (amount not quantified); LTC 3; Miami Beach FL USA · as of 31 Jan 2019 | $1 | Notice of Bankruptcy and Impending Automatic Discharge dated February 4, 2019 |
| 8 | Unsecured | Excel Leasing Inc. · in 4 casesNominal $1.00 in SOA (amount not quantified); LTC 9; Winnipeg MB · as of 31 Jan 2019 | $1 | Notice of Bankruptcy and Impending Automatic Discharge dated February 4, 2019 |
| 8 | Unsecured | Evolocity Financial Group · in 8 casesNominal $1.00 in SOA (amount not quantified); LTC 9; Attn: Christopher Lawrence; Markham ON · as of 31 Jan 2019 | $1 | Notice of Bankruptcy and Impending Automatic Discharge dated February 4, 2019 |
| 8 | Unsecured | Essex Capital Leasing Corp. · in 3 casesNominal $1.00 in SOA (amount not quantified); LTC 9; Windsor ON · as of 31 Jan 2019 | $1 | Notice of Bankruptcy and Impending Automatic Discharge dated February 4, 2019 |
| 8 | Unsecured | Capmor Financial Services Corporation - in TrustNominal $1.00 in SOA (amount not quantified); LTC 3; Burlington ON · as of 31 Jan 2019 | $1 | Notice of Bankruptcy and Impending Automatic Discharge dated February 4, 2019 |
| 8 | Unsecured | Canada Revenue Agency c/o R. KaminNominal $1.00 in SOA (amount not quantified); LTC 6 (tax); St. Catharines ON · as of 31 Jan 2019 | $1 | Notice of Bankruptcy and Impending Automatic Discharge dated February 4, 2019 |
| 8 | Unsecured | Blueshore Leasing Ltd. · in 6 casesNominal $1.00 in SOA (amount not quantified); LTC 9 (Other); North Vancouver BC · as of 31 Jan 2019 | $1 | Notice of Bankruptcy and Impending Automatic Discharge dated February 4, 2019 |
| 8 | Unsecured | 2M7 Financial Solutions · in 13 casesNominal $1.00 in SOA (amount not quantified); LTC 3 (finance company loan); North York ON · as of 31 Jan 2019 | $1 | Notice of Bankruptcy and Impending Automatic Discharge dated February 4, 2019 |
| 8 | Unsecured | 1742240 Ontario Inc. · in 2 casesNominal $1.00 in SOA (amount not quantified); LTC 9 (Other); Toronto ON · as of 31 Jan 2019 | $1 | Notice of Bankruptcy and Impending Automatic Discharge dated February 4, 2019 |
| 8 | Unsecured | Toronto Dominion Bank c/o Harrison Pensa LLPNominal $1.00 in SOA (amount not quantified); LTC 2; Attn: Tom Masterson; court file #167887, 2861-16; London ON · as of 31 Jan 2019 | $1 | Notice of Bankruptcy and Impending Automatic Discharge dated February 4, 2019 |
| 8 | Unsecured | Silver Chef Rentals Inc. c/o Chaitons LLPNominal $1.00 in SOA (amount not quantified); LTC 9; Attn: Maya Poliak; North York ON · as of 31 Jan 2019 | $1 | Notice of Bankruptcy and Impending Automatic Discharge dated February 4, 2019 |
| 8 | Unsecured | Recipe Unlimited Corporation · in 4 casesNominal $1.00 in SOA (amount not quantified); LTC 9; Attn: Jennifer Pocock; Vaughan ON · as of 31 Jan 2019 | $1 | Notice of Bankruptcy and Impending Automatic Discharge dated February 4, 2019 |
| 8 | Unsecured | Niagara West c/o Lenczner SlaghtNominal $1.00 in SOA (amount not quantified); LTC 2; Attn: Mark Veneziano; court file #47428, CV-16-554569; Toronto ON · as of 31 Jan 2019 | $1 | Notice of Bankruptcy and Impending Automatic Discharge dated February 4, 2019 |
| 8 | Unsecured | Merchant Advance Capital Ltd.Nominal $1.00 in SOA (amount not quantified); LTC 3; Vancouver BC · as of 31 Jan 2019 | $1 | Notice of Bankruptcy and Impending Automatic Discharge dated February 4, 2019 |
Estate financialsReported figures — never derived
Total assets at filing$11K
Total liabilities at filing$2.49M
As at 31 Jan 2019 · per Statement of Affairs (Form 79, Non-Business Bankruptcy) as sworn by the bankrupt; management estimate. Reason for financial difficulties stated as 'Business Debts'. · Individual bankrupt - Mark Angelo Spadafora, City of Niagara Falls, Ontario (first-time bankrupt; bankruptcy order 16-Jan-2019; KSV Kofman Inc. trustee) — Liabilities: SOA-stated TOTAL $2,492,456.94 (page 5) = Unsecured $1,997,121.94 + Secured $0.00 + Preferred $495,335.00. Preferred total is three CRA (Shawinigan) deemed-trust amounts ($399,056.00 + $21,774.00 + $74,505.00). Secured creditors: SOA states TOTAL Secured $0.00 (no secured debt) -> secured_creditors = []. Numerous CRA rows show $0.00 in the debt columns but carry separate 'Contingent $' amounts (recorded above with contingent notes); these contingent amounts are NOT part of the stated debt totals. Assets (page 2, Form 79): estimated dollar value TOTAL $11,005.00; estimated NET REAL
Documents4 filings
| Date | Document | File |
|---|---|---|
Trustee's Report to Creditors on Preliminary Administration dated February 19, 2019
| ||
Notice of Bankruptcy and Impending Automatic Discharge dated February 4, 2019
| ||
Bankruptcy Order dated January 16, 2019
| ||
Certificate of Filing of a Bankruptcy Order dated January 16, 2019
| ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Spadafora, Mark” (Bankruptcy), Ontario Superior Court of Justice. Retrieved 20 September 2026, https://proceedings.ca/case/spadafora-mark