Spadafora, Mark

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.