Wavestar Networks Inc.
- 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.
Wavestar Networks Inc. filed a notice of intention to make a proposal dated March 17, 2024, naming Rosen Goldberg Inc. as licensed insolvency trustee in estate number 31-3056686.
Source: Certificate of Filing
Debtor
Wavestar Networks Inc.
Proposal trustee
Rosen Goldberg
Bench
| Judge | Court | On this docket | Cases on record |
|---|---|---|---|
| Justice Black | Ontario Superior Court of Justice | 1 order, Apr 2024 | 198 cases on record |
Counsel of record
| Party | Counsel | First seen | Source |
|---|---|---|---|
| CreditorRosen Goldberg Inc | Torkin Manes LLP | 10 Sep 2024 | Order · 10 Sep 2024 |
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | 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 |
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
78 more claims in 1 class The stack holds Secured and Unsecured claims.
Every creditor and every amount, drawn to scale.
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See all plansUnsecured 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 5 November 2026, https://proceedings.ca/case/wavestar-networks-inc