Ontario · Winding-up (provincial)
First Report
Court officer report · 15 June 2018
A plain-language read of this filing opens with a subscription.
What we verified from this filing15 verified
- secured creditorsnote: Amount is original loan advance, not confirmed current outstanding balance; validity/enforceability of mortgage not yet opined on by Liquidator's counsel; notice of power of sale issued March 8, 2018, stayed by Appointment Order · page: 8 · as of: 2015-11-06 · amount: 2250000 · debtor: WG Vineyard Niagara Inc. and WG Domaine Niagara Inc. · creditor: Sunnyways Investments Inc. · currency: CAD · security: First mortgage against each of the Properties; original loan $2,250,000 of which $1,500,000 advanced against Four Mile Creek Property and $750,000 against Progressive Property
- unsecured creditorsnote: Related party; validity and quantum of shareholder claim is in dispute; review by Liquidator postponed pending sale of Properties · page: 8 · as of: 2017 externally prepared financial statements · basis: 2017 externally prepared financial statements reflecting balance due to shareholder · amount: 1332816 · debtor: WG Vineyard Niagara Inc. · creditor: Shareholder (Estate of Zhendong Wang / related shareholder) - WG Vineyard · currency: CAD
- unsecured creditorsnote: Related party; validity and quantum of shareholder claim is in dispute; review by Liquidator postponed pending sale of Properties · page: 8 · as of: 2017 externally prepared financial statements · basis: 2017 externally prepared financial statements reflecting balance due to shareholder · amount: 395315 · debtor: WG Domaine Niagara Inc. · creditor: Shareholder (Estate of Zhendong Wang / related shareholder) - WG Domaine · currency: CAD
- unsecured creditorsnote: Architectural design fees for proposed winery facility · page: 9 · basis: Based on WG Vineyard's books and records, as reported by Liquidator · amount: 86288 · debtor: WG Vineyard Niagara Inc. · creditor: WalterFedy · currency: CAD
- unsecured creditorsnote: Municipal property taxes; possible reduction pending review of Farm Property Tax Class Rate eligibility · page: 9 · as of: 2018-05-17 · basis: Municipal property tax records as reported by Liquidator · amount: 13087.06 · debtor: WG Domaine Niagara Inc. · creditor: Town of Niagara-on-the-Lake (WG Domaine - unpaid property taxes) · currency: CAD
- unsecured creditorsnote: Municipal property taxes; possible reduction pending review of Farm Property Tax Class Rate eligibility · page: 9 · as of: 2018-05-17 · basis: Municipal property tax records as reported by Liquidator · amount: 13249.19 · debtor: WG Vineyard Niagara Inc. · creditor: Town of Niagara-on-the-Lake (WG Vineyard - unpaid property taxes) · currency: CAD
- unsecured creditorspage: 10 · basis: Reported by Liquidator, external accountant fees owed · amount: 4294 · debtor: WG Vineyard Niagara Inc. · creditor: Kestenberg Rabinowicz Partners LLP (KRP) - WG Vineyard · currency: CAD
- unsecured creditorsnote: Disputed; Liquidator has not yet determined validity of claim or whether cost is to be borne by the Companies or the Farm Tenant · page: 10 · basis: Amount advised by Farm Tenant to the Liquidator for maintenance completed to the vineyards · amount: 16666.37 · debtor: WG Vineyard Niagara Inc. · creditor: 1340210 Ontario Ltd. (Farm Tenant) · currency: CAD
- unsecured creditorspage: 10 · basis: Reported by Liquidator, external accountant fees owed · amount: 1130 · debtor: WG Domaine Niagara Inc. · creditor: Kestenberg Rabinowicz Partners LLP (KRP) - WG Domaine · currency: CAD
- unsecured creditorspage: 10 · basis: Reported by Liquidator based on custom farming work performed for 2015 season, remains unpaid · amount: 20022 · debtor: WG Vineyard Niagara Inc. · creditor: Woerthle Vineyard · currency: CAD
- secured creditorsnote: Court-ordered administration charge, not a conventional creditor claim · page: 18 · as of: date of Appointment Order (March 27, 2018) · debtor: WG Vineyard Niagara Inc. and WG Domaine Niagara Inc. · creditor: MNP Ltd. (Liquidator's Charge) · currency: CAD · security: First charge on the Properties for fees and disbursements, priority over all security interests except those of arm's-length third parties as of date of Order; proposed amendment: first $100,000 ranks in priority to all security interests including related-party ones, amounts over $100,000 subordinate to unrelated valid security
- secured creditorsnote: $500,000 is a borrowing limit/facility ceiling, not an outstanding balance; court-ordered administration charge · page: 19 · as of: date of Appointment Order (March 27, 2018) · debtor: WG Vineyard Niagara Inc. and WG Domaine Niagara Inc. · creditor: MNP Ltd. (Borrowings Charge) · currency: CAD · security: Fixed and specific charge on the Properties securing borrowings, principal not to exceed $500,000, priority over most security interests but subordinate to unrelated third-party security and to the Liquidator's Charge
- purchaserprice: sealed: false · scope: the Four Mile Creek Property · status: not_completed · name note: purchaser under the February 4th Offer, unnamed; Liquidator declined to conclude that offer · structure: real_property · name source: recital · relationship: unstated
- sale advisorRemax; Colliers International Niagara Ltd.
- sale outcometext: Liquidator recommends approval of the APS for the Progressive Property and seeks approval of a listing process for the Four Mile Creek Property · scope: parcel · status: pending_approval