Wavestar Networks Inc.
Follow- Proceeding
- Proposalsection 50.4(1) of the Bankruptcy and Insolvency Act
- File
- 31-3056686
Wavestar Networks Inc. filed a notice of intention to make a proposal on March 17, 2024 under subsections 50.4(1) and 69(1) of the Bankruptcy and Insolvency Act, and the Division I proposal remains active in Ontario under Rosen Goldberg Inc. as licensed insolvency trustee, estate number 31-3056686. On the creditor list as at March 19, 2024, Royal Bank of Canada is listed as secured for a line of credit of $2,100,044.00. The Canada Revenue Agency claims $935,840.92 in GST/HST as a deemed trust, ahead of Ribbon Communications Operating Company at $842,057.72, Impulse Technologies Ltd at $652,076.56, Southview Hydrovac Inc. at $226,126.04 and Nedco at $153,330.86. Employee claims are listed in aggregate at $100,000.00.
A claims procedure has been established — see the order for deadlines.
Per the TRUST CLAIMS PROCESS ORDER dated 10 September 2024.
5 earlier updates, back to 17 March 2024 — subscribers.
Debtor
Wavestar Networks Inc.
Proposal trustee
Rosen Goldberg
| Priority class | Creditor | Amount | Source |
|---|---|---|---|
| Secured | RBC (Royal Bank of Canada) - Line of Credit c/o Aird Berlis · in 25 casesListed as secured on creditor mailing list; contact Sanjeev Mitra — debtor: Wavestar Networks Inc. · as of 19 Mar 2024 | $2.1M | Report of Proposal Trustee |
Unsecured creditors: no distribution. former principals of the Debtors no distribution.Under the plan · sanctionedReport of trustee - Proposal · 29 Jul 2024
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| WEPPA | — | — | paid in full | Under the plansanctionedper the proposal trustee | Report of trustee - Proposal · 29 Jul 2024 |
| Deemed trustCRA Trust Claim | His Majesty in Right of Canada and in Right of the Province of Ontario | — | paid in full | Under the plansanctionedper the proposal trustee | Report of trustee - Proposal · 29 Jul 2024 |
| Secured | Construction Lien/Trust Creditors | — | paid in full | Under the plansanctionedper the proposal trustee | Report of trustee - Proposal · 29 Jul 2024 |
| Preferred | — | — | paid in full | Under the plansanctionedper the proposal trustee | Report of trustee - Proposal · 29 Jul 2024 |
| Unsecured | Related Parties | — | no distribution | Under the plansanctionedper the proposal trustee | Report of trustee - Proposal · 29 Jul 2024 |
| UnsecuredUnsecured creditors (former principals' claims) | former principals of the Debtors | — | no distribution | Under the plansanctionedper the proposal trustee | Report of trustee - Proposal · 29 Jul 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.
| Date | Document | File |
|---|---|---|
| TRUST CLAIMS PROCESS ORDER | PDF · Subscribers | |
Report of trustee - Proposal
| PDF · Subscribers | |
| Court Order - 2nd Extension | PDF · Subscribers | |
| Order approving proposal | PDF · Subscribers | |
| Court Order | PDF · Subscribers | |
| Court Order - Extension | PDF · Subscribers | |
Certificate of Filing
| PDF · Subscribers | |
Report of Proposal Trustee
| 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., “Wavestar Networks Inc.” (Proposal). Retrieved 20 September 2026, https://proceedings.ca/case/wavestar-networks-inc