Zao Trading Corporation
- Proceeding
- NOIsubsection 50.4(1) of the Bankruptcy and Insolvency Act
- File
- B150988
- Industry
- Retail · Specialty retail
Zao Trading Corporation filed a notice of intention to make a proposal under s. 50.4 of the BIA on November 12, 2015, in the Supreme Court of British Columbia under file B150988, and the proceeding remains active. The company had reported net losses of $1.05 million and $789,000 for the fiscal years ending August 31, 2014 and 2015. Assets at February 15, 2016 carried a book value of $659,000, comprising inventory of $483,000, furniture and fixtures of $75,000 and cash of $101,000, against an estimated gross realizable value in bankruptcy of $297,000. Creditors with claims of $250 or more total $3,440,913.27 on the Form 92 list, led by related party Glenwood Preserves Ltd at $2,737,153.19. Glenwood and the director loans owed to Terry Crowley and Tom Reinhart are Non-Participating Creditors that have agreed to waive any dividend. VW Credit Canada Inc., holding a registered security interest in one leased vehicle, is the sole secured creditor and is unaffected by the proposal.
Creditor's Package - Notice of Intention to Make a Proposal was filed. Court file 11-2048177.
Source: Creditor's Package - Notice of Intention to Make a Proposal
Debtor
Zao Trading Corporation
Proposal trustee
The Bowra Group
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | VW Credit Canada Inc. · in 23 casesRegistered security interest in respect of one leased vehicle — Unaffected by the Proposal; claim to be addressed per security agreement or as arranged with the secured creditor. Note: VW Credit Canada Inc. also appears in the list of creditors with claims of $250 or more with a claim amount of $1,000.00 (page 4), which may relate to a separate unsecured portion of dealings. — debtor: Zao Trading Corporation | — | Creditor’s Package – Notice of Proposal to Creditors |
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured | |||
| 8 | Unsecured |
47 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 plans“not stated” means the record names the claim without a figure; “—” means not in the extracted record.
Unsecured creditors: a distribution.Under the plan · sanctionedCreditor’s Package – Notice of Proposal to Creditors · 19 Feb 2016
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Unsecured | unsecured creditors with claims over $5,000 (Proposal) | — | a distributionvs. in a bankruptcy | Under the plansanctionedper the proposal trustee | Creditor’s Package – Notice of Proposal to Creditors · 19 Feb 2016 |
| Unsecured | Glenwood Preserves Ltd., Thomas Gerald Reinhart and Terrance Crowly | — | no distribution | Under the plansanctionedper the proposal trustee | Creditor’s Package – Notice of Proposal to Creditors · 19 Feb 2016 |
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.
1 blurred figure above
The claims and what each class or creditor recovers — each as the filing states it, with its source.
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See all plansAs 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 |
|---|---|---|
| Court Order approving the Proposal | PDF · Subscribers | |
Creditor’s Package – Notice of Proposal to Creditors
| PDF · Subscribers | |
| Certificate of Filing a Proposal | PDF · Subscribers | |
Court Order approving extension of time to file a Proposal
| PDF · Subscribers | |
| Certificate of Notice of Intention to Make a Proposal | PDF · Subscribers | |
Creditor's Package - 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., “Zao Trading Corporation” (NOI), Supreme Court of British Columbia. Retrieved 4 November 2026, https://proceedings.ca/case/zao-trading-corporation