Vaughn Mills Packaging Ltd.
Follow- Proceeding
- ProposalBankruptcy and Insolvency Act (Canada), R.S.C. 1985, C. B 3, as amended
- File
- 31-2895096
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.
5 earlier updates, back to 16 December 2022 — subscribers.
Undated filings3 — no date appears on the document · show
3 filings carry no date on their face — subscribers.
Debtor
Vaughn Mills Packaging Ltd.
Proposal trustee
TDB Restructuring
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| 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 |
Unsecured 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.
The debtor’s own statement of its total assets and liabilities at filing is in the record — Subscribers
| 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 20 September 2026, https://proceedings.ca/case/vaughn-mills-packaging-ltd