Vaughn Mills Packaging Ltd.
- Proceeding
- ProposalBankruptcy and Insolvency Act (Canada), R.S.C. 1985, C. B 3, as amended
- File
- 31-2895096
- Industry
- Manufacturing · Food & beverage manufacturing
Vaughn Mills Packaging Ltd. filed a notice of intention to make a proposal on December 16, 2022 in Ontario, under the Bankruptcy and Insolvency Act, with RSM Canada Limited as Licensed Insolvency Trustee under estate number 31-2895096. A condensed statement of affairs recorded book-value assets of $6,487,894, with net realizable value estimated at $2,280,079, and reported that liabilities exceeded the estimated realizable value of assets by over $12,744,000. Secured creditors holding general security agreements included Kensington Private Equity Fund at $6,076,927, CIBC at $2,208,470, VMP Capital Partners Ltd. at $1,804,498 and Farm Credit Canada at $1,615,877. The proceeding remains active.
A claims procedure has been established — see the order for deadlines.
Trustee's Report pursuant to S. 58(d) of the BIA dated February 21, 2023 — Court officer report
The company filed a notice of intention to make a proposal on December 16, 2022.
Source: Certificate of Filing of a Notice of Intention to Make a Proposal
Undated filings3 — no date appears on the document · show
Debtor
Vaughn Mills Packaging Ltd.
Proposal trustee
RSM Canada
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Kensington Private Equity Fund · in 3 casesas of NOI filing date — General Security Agreement — Related party to the Company; per letter dated December 28, 2022, Kensington assessed value of its security as $nil for Proposal purposes and waived rights to dividends payable under the Proposal to Unsecured Creditors — debtor: Vaughn Mills Packaging Ltd. | $6.08M | Trustee's Report on Proposal dated January 6, 2023 |
| 4 | Secured | |||
| 4 | Secured | |||
| 4 | Secured | |||
| 8 | Unsecured |
4 more claims in 2 classes The stack holds Secured and Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plansUnsecured creditors: a distribution.Under the plan · sanctionedTrustee's Report pursuant to S. 58(d) of the BIA · 21 Feb 2023
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Deemed trust | Source Deduction Claims | — | paid in full | Under the plansanctionedper the debtor | Trustee's Report pursuant to S. 58(d) of the BIA · 21 Feb 2023 |
| Preferred | — | — | paid in full | Under the plansanctionedper the debtor | Trustee's Report pursuant to S. 58(d) of the BIA · 21 Feb 2023 |
| Unsecured | proven claims (Proposal dividend) | — | a distribution | Under the plansanctionedper the trustee | Trustee's Report pursuant to S. 58(d) of the BIA · 21 Feb 2023 |
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 2 totals 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 |
|---|---|---|
| Court Order Approving the Proposal dated March 21, 2023 | PDF · Subscribers | |
Endorsement of Associate Justice Ilchenko dated March 21, 2023
| PDF · Subscribers | |
| Notice of Hearing dated February 21, 2023 | PDF · Subscribers | |
Trustee's Report pursuant to S. 58(d) of the BIA dated February 21, 2023
| PDF · Subscribers | |
Trustee's Report on Proposal dated January 6, 2023
| PDF · Subscribers | |
Proposal of Vaughn Mills Packaging Ltd. dated December 29, 2022
| PDF · Subscribers | |
Notice of Intention to Make a Proposal
| PDF · Subscribers | |
| Convenience Creditor Election Form | PDF · Subscribers | |
Creditor Information Package
| PDF · Subscribers | |
| Proof of Claim, Proxy and Voting Letter | 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., “Vaughn Mills Packaging Ltd.” (Proposal). Retrieved 5 November 2026, https://proceedings.ca/case/vaughn-mills-packaging-ltd