Ontario · NOI
Trustee Preliminary Report
Court officer report · 15 February 2024
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What we verified from this filing5 verified
- secured creditorsnote: Statement of Affairs listed RBC's secured claim as approximately $1.3 million (prose estimate); RBC's actual proof of claim, filed and on record as of the date of this report, is $1,116,224. RBC also submitted a separate unsecured claim of $500,000 (bifurcated - see unsecured_creditors). Trustee's report also states that 4 proofs of claim were received in total from secured lenders totalling $1,672,721, suggesting additional secured lender(s) beyond RBC/CRA not individually named. Trustee's review of RBC's security is pending (para 18: 'subject to the Trustee's review of RBC's security'). · page: 3 · as of: 2024-02-15 · amount: 1116224 · debtor: 10003905 Canada Inc. (formerly Relogix Inc.) · creditor: Royal Bank of Canada (RBC) · currency: CAD
- secured creditorsnote: Deemed trust claim for unpaid payroll source deduction remittances; Statement of Affairs states this is a 'potential provable claim...totaling approximately $520,618' (prose approximation - no more precise figure given). To date (as of this report), no proof of claim has been received from CRA. CRA priority trust claims are stated to rank ahead of RBC's secured recovery in the distribution waterfall (para 18). · page: 3 · as of: Statement of Affairs · amount: 520618 · debtor: 10003905 Canada Inc. (formerly Relogix Inc.) · creditor: Canada Revenue Agency (CRA) · currency: CAD
- unsecured creditorsnote: Document names no individual creditors for this aggregate. This SOA-reported figure differs from proofs actually filed to date: 16 proofs of claim from unsecured creditors totalling $814,596 have been received (per para 15) - the proofs-filed figure is noted here, not used as the amount, per reporting convention. · page: 3 · as of: Statement of Affairs · basis: Statement of Affairs as reported: '64 creditors with potential provable claims totalling $7.3 million.' · amount: 7300000 · debtor: 10003905 Canada Inc. (formerly Relogix Inc.) · creditor: Unsecured creditors (aggregate as reported) · currency: CAD
- unsecured creditorsnote: Claim bifurcated: RBC holds both a secured claim ($1,116,224, see secured_creditors) and this separate unsecured claim ($500,000), likely reflecting a shortfall against security value. · page: 3 · as of: 2024-02-15 · basis: Proof of claim filed by RBC, as of the date of this report. · amount: 500000 · debtor: 10003905 Canada Inc. (formerly Relogix Inc.) · creditor: Royal Bank of Canada (RBC) - unsecured portion · currency: CAD
- unsecured creditorsnote: Preferred class (ranks ahead of ordinary unsecured claims); document does not name individual preferred creditors. · page: 3 · as of: 2024-02-15 · basis: 13 proofs of claim from preferred creditors received as of the date of this report. · amount: 26000 · debtor: 10003905 Canada Inc. (formerly Relogix Inc.) · creditor: Preferred creditors (aggregate, proofs filed) · currency: CAD