Ontario · Receivership (court-appointed)
Notice and Statement of the Receiver – dated August 9, 2024
Notice to creditors · 9 August 2024
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing6 verified
- financial positionnote: Total assets $4,146,000 (in $000's CAD); Note 1 states accounts receivable from related interco entities (Rotalec USA Inc., Rotalec International Inc., Moduloc Controls Systems Ltd, 2371561 Ontario Inc., Britman Specialty Products Inc. and Buchh Holding Inc.) has estimated realization of nil · page: 1 · as at: 2024-08-01 · basis: Debtor's internal, unaudited financial statements as of August 1, 2024, except accounts receivable and inventory valued per Borrowing Base calculation dated July 23, 2024 · scope: Rotalec Canada Inc. (entity level) · currency: CAD · total assets: 4146000
- secured creditorsnote: Applicant lender that obtained receivership order; figures in $000's CAD · page: 2 · as of: 2024-08-01 · amount: 3553000 · debtor: Rotalec Canada Inc. · creditor: Toronto Dominion Bank · currency: CAD
- secured creditorsnote: Figures in $000's CAD; reported values include secured loans for which Rotalec Canada is the guarantor · page: 2 · as of: 2024-08-01 · amount: 433000 · debtor: Rotalec Canada Inc. · creditor: BDC Capital Inc. · currency: CAD
- secured creditorsnote: Amount reported as 'TBD'; reported values include secured loans for which Rotalec Canada is the guarantor · page: 2 · as of: 2024-08-01 · debtor: Rotalec Canada Inc. · creditor: Vendorlender Funding Corp. · currency: CAD
- secured creditorsnote: Amount reported as 'TBD'; regulatory/tax secured claim · page: 2 · as of: 2024-08-01 · debtor: Rotalec Canada Inc. · creditor: Ministry of Finance of Ontario · currency: CAD
- unsecured creditorsnote: Detailed itemised listing provided in Schedule 'A' (pages 4-9), but individual entries are not machine-readable due to OCR corruption in the source document; aggregate figure is the only reliably extractable amount · page: 2 · basis: According to the Company's books and records, the total amount due by the Company is approximately $4,076,745 · amount: 4076745 · debtor: Rotalec Canada Inc. · creditor: Unsecured creditors (aggregate as reported) · currency: CAD