Zio’s Pizza Kitchen Ltd.
Follow- Proceeding
- BankruptcySection 49 of the Act; Rule 85
- File
- 25915
Zio's Pizza Kitchen Ltd. has been bankrupt since October 5, 2022, with Deloitte Restructuring Inc. acting as Licensed Insolvency Trustee under the BIA in the Court of King's Bench of New Brunswick in Bankruptcy and Insolvency, file no. 25915. The Trustee's preliminary, unaudited summary as at the date of bankruptcy puts assets at $3,039,668 in book value against liabilities of $3,690,624, comprising secured claims of $2,352,109 and unsecured claims of $1,338,515, with realizations possibly varying from book values. CIBC and the Business Development Bank of Canada hold general security agreements and real property mortgages over Zio's assets; a municipal property tax priority claim of approximately $311,000 ranks ahead of that collateral. Blue Chip Leasing Corporation, the Bank of Nova Scotia and Silver Chef Rentals Inc. hold PPSA registrations, with opinions on validity and enforceability pending from proposed estate counsel Stewart McKelvey. Fifty-nine unsecured creditors are owed approximately $1.4 million; four proofs of claim had been received, and no distribution to unsecured creditors is anticipated.
Court officer's report placed on the record, identifying October 5, 2022 as the date of Zio's own filing and the commencement of the proceeding.
Source: Trustee's preliminary report to creditors dated October 24, 2022
Debtor
Zio’s Pizza Kitchen Ltd.
Trustee in bankruptcy
Deloitte
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 4 | Secured | Bank of Nova Scotia · in 71 casesPPSA registration — PPSA creditor; legal opinions on validity/enforceability of PPSA registrations pending. — debtor: Zio's Pizza Kitchen Ltd. · as of 5 Oct 2022 | — | Trustee's preliminary report to creditors dated October 24, 2022 |
| 4 | Secured | CIBC (Canadian Imperial Bank of Commerce) · in 69 casesGeneral security agreement and real property mortgages over Zio's assets (Secured Creditor Collateral) — One of two 'Secured Creditors'; aggregate secured indebtedness of approx. $2,352,109 reported as at Date of Bankruptcy; individual amount not stated. Also owed municipal property tax priority claim of approx. $311,000 ranking ahead of Secured Creditor Collateral on the Properties. — debtor: Zio's Pizza Kitchen Ltd. · as of 5 Oct 2022 | — | Trustee's preliminary report to creditors dated October 24, 2022 |
| 4 | Secured | Blue Chip Leasing Corporation · in 22 casesPPSA registration — PPSA creditor; legal opinions on validity/enforceability of PPSA registrations pending from proposed estate counsel (Stewart McKelvey). — debtor: Zio's Pizza Kitchen Ltd. · as of 5 Oct 2022 | — | Trustee's preliminary report to creditors dated October 24, 2022 |
| 4 | Secured | Business Development Bank of Canada (BDC) · in 241 casesGeneral security agreement and real property mortgages over Zio's assets (Secured Creditor Collateral) — One of two 'Secured Creditors'; aggregate secured indebtedness of approx. $2,352,109 reported as at Date of Bankruptcy; individual amount not stated. — debtor: Zio's Pizza Kitchen Ltd. · as of 5 Oct 2022 | — | Trustee's preliminary report to creditors dated October 24, 2022 |
| 4 | Secured | Silver Chef Rentals Inc. · in 6 casesPPSA registration — PPSA creditor; legal opinions on validity/enforceability of PPSA registrations pending. — debtor: Zio's Pizza Kitchen Ltd. · as of 5 Oct 2022 | — | Trustee's preliminary report to creditors dated October 24, 2022 |
| 8 | Unsecured | Unsecured creditors (aggregate as reported) · in 532 casesDocument names no individual unsecured creditors; states 59 unsecured creditors with amounts owing of approximately $1.4 million (page 4). Only four proofs of claim received as at date of report (proofs-filed figure not quantified). No distribution to unsecured creditors is anticipated. — debtor: Zio's Pizza Kitchen Ltd. · as of 5 Oct 2022 | $1.34M | Trustee's preliminary report to creditors dated October 24, 2022 |
“not stated” means the record names the claim without a figure; “—” means not in the extracted record.
Unsecured creditors: no distribution.EstimatedTrustee's preliminary report to creditors · 24 Oct 2022
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Unsecured | — | — | no distribution | Estimatedper the trustee | Trustee's preliminary report to creditors · 24 Oct 2022 |
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 5 Oct 2022 · per Preliminary evaluation, book value, unaudited, not reviewed or otherwise verified by Trustee · Zio's Pizza Kitchen Ltd. (single entity) — Realizations on assets may vary from book values presented. Liabilities include secured creditors $2,352,109 and unsecured creditors $1,338,515.
| Date | Document | File |
|---|---|---|
Trustee's preliminary report to creditors dated October 24, 2022
| ||
Certificate of Appointment dated October 5, 2022
| ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “Zio’s Pizza Kitchen Ltd.” (Bankruptcy), Court of King's Bench of New Brunswick. Retrieved 20 September 2026, https://proceedings.ca/case/zio-s-pizza-kitchen-ltd