Top Draw Inc.
- Proceeding
- Proposalsubsection 50.4 (1) of the Bankruptcy and Insolvency Act
- File
- 24-3077340
Top Draw Inc. has been in a Division I proposal under the BIA since May 7, 2024, with MNP Ltd. as Licensed Insolvency Trustee and the matter before the Court of King's Bench of Alberta. ATB Financial is unaffected by the proposal: its estimated claim of $95,412,000, secured by a general security agreement over all present and after-acquired property, is to be paid under the existing agreement. Subject to the proposal are Canada Revenue Agency Crown claims of $795,086 in payroll source deductions and $119,115 in GST arrears, both deemed trust priority claims. The Statement of Affairs puts total assets at $189,000, and the company identifies no unsecured creditors apart from amounts due to shareholders and no preferred creditors. The Trustee's comparison shows proposal-scenario funds available of $929 thousand, including a $914 thousand Proposal Fund, against a $779 thousand shortfall to CRA in bankruptcy.
Certificate of Notice of Intention to Make a Proposal was filed. Court file 24-3077340.
Source: Certificate of Notice of Intention to Make a Proposal
Debtor
Top Draw Inc.
Proposal trustee
MNP
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 3 | Deemed trusts (CRA and other) | Canada Revenue Agency (CRA) - source deductions · in 985 casesas of prefiling — Deemed trust / Crown priority claim (payroll source deductions); part of Certain Crown Claims subject to the Proposal — debtor: Top Draw Inc. | $795K | Trustee's Report to Creditors |
| 4 | Secured | |||
| 8 | Unsecured |
2 more claims in 2 classes The stack holds Deemed trusts (CRA and other), Secured and Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plansCRA: paid in full.Under the plan · sanctionedProposal to Creditors · 5 Jun 2024
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Deemed trust | CRA | — | paid in full | Under the plansanctionedper the debtor | Proposal to Creditors · 5 Jun 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.
As at ·
The total the debtor stated at filing
Each one as the filing states it, with its source.
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See all plans| Date | Document | File |
|---|---|---|
| Order (Approval of Proposal) | PDF · Subscribers | |
Creditor's Package - Proposal and First Meeting of Creditors
| PDF · Subscribers | |
Trustee's Report to Creditors
| PDF · Subscribers | |
| Certificate of the Proposal | PDF · Subscribers | |
Proposal to Creditors
| PDF · Subscribers | |
Creditor Package - Notice of Intention to Make a Proposal
| PDF · Subscribers | |
Certificate of Notice of Intention to Make a Proposal
| 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., “Top Draw Inc.” (Proposal), Court of King's Bench of Alberta. Retrieved 4 November 2026, https://proceedings.ca/case/top-draw-inc