Ontario · Bankruptcy
Statement of Affairs
Statement of affairs · 13 May 2026
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What we verified from this filing7 verified
- financial positionnote: Deficiency of $2,200,402.54 stated on the face of the form; total assets consist almost entirely of real property (est. realizable value $1,710,000.00) net of an intercompany loan of book value $1,852,133 deemed uncollectable and valued at $1.00. · page: 1 · as at: 2026-05-05 · basis: Statement of Affairs (Corporate Bankruptcy) as stated and estimated by the bankrupt/debtor; asset values shown at estimated realizable value; sworn/declared 13 May 2026 by director Reade Houston · scope: Entity-level: 1597527 Ontario Ltd. (single bankrupt corporation) · currency: CAD · total assets: 1710000 · total liabilities: 3910402.54
- secured creditorsnote: Total claim $2,067,775.01; secured portion capped at estimated realizable value of collateral, leaving an unsecured deficiency of $270,505.01 (bifurcated secured/unsecured by security valuation, per Statement of Affairs). · page: 3 · as of: 2021-12-16 · amount: 1797270 · debtor: 1597527 Ontario Ltd. · creditor: The Toronto-Dominion Bank (TD Auto Finance) · currency: CAD · security: Mortgage/hypothec on real property at 13533 Hwy 118, Haliburton, ON (assets 701, 501)
- secured creditorsnote: Recorded entirely in the 'Contingent, trust claims or other liabilities' column (secured column = $0), representing related companies' debts to TD secured by this debtor's GSA; treated by the Statement of Affairs as a contingent claim, not a currently secured balance. · page: 3 · as of: NOI/bankruptcy filing date (5 May 2026) · amount: 1832744 · debtor: 1597527 Ontario Ltd. · creditor: The Toronto-Dominion Bank (TD Auto Finance) · currency: CAD · security: General Security Agreement over all assets of the bankrupt
- secured creditorsnote: Nature of liability recorded as 'Accounts payable' but amount entered in Secured column with asset 701 securing it (municipal tax lien on real property). · page: 3 · as of: 2026-04-08 · amount: 2731 · debtor: 1597527 Ontario Ltd. · creditor: Municipality of Dysart et al · currency: CAD · security: Real property/municipal tax claim secured against real property at 13533 Hwy 118, Haliburton, ON (asset 701)
- unsecured creditorspage: 3 · as of: NOI/bankruptcy filing date (5 May 2026) · basis: Statement of Affairs as reported (sales taxes) · amount: 4951.8 · debtor: 1597527 Ontario Ltd. · creditor: CRA - Tax - Ontario (Shawinigan-Sud National Verification and Collection Centre) · currency: CAD
- unsecured creditorspage: 3 · as of: NOI/bankruptcy filing date (5 May 2026) · basis: Statement of Affairs as reported (accounts payable) · amount: 2200.73 · debtor: 1597527 Ontario Ltd. · creditor: Hydro One Networks Inc. · currency: CAD
- unsecured creditorsnote: Unsecured deficiency portion of a $2,067,775.01 total claim, after bifurcation against $1,797,270.00 secured value of collateral. · page: 3 · as of: 2021-12-16 · basis: Statement of Affairs as reported (real property mortgage/hypothec) · amount: 270505.01 · debtor: 1597527 Ontario Ltd. · creditor: The Toronto-Dominion Bank (TD Auto Finance) · currency: CAD