Ontario · Bankruptcy
Notice to Creditors for the Second Meeting of Creditors
Notice to creditors · 19 January 2024
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What we verified from this filing9 verified
- secured creditorsnote: Listed as secured creditor on List of Proven Creditors; no amount stated. · page: 6 · as of: 2024-01-18 · debtor: Integro Building Systems Inc. · creditor: Orbis Facade Inc. · currency: CAD
- secured creditorsnote: Listed as secured creditor on List of Proven Creditors; no amount stated. · page: 6 · as of: 2024-01-18 · debtor: Integro Building Systems Inc. · creditor: Hi-Tech Machining & Maintenance Inc. · currency: CAD
- secured creditorsnote: Listed twice as secured creditor on List of Proven Creditors (two separate contacts); no amount stated. · page: 6 · as of: 2024-01-18 · debtor: Integro Building Systems Inc. · creditor: Keymark Corporation · currency: CAD
- secured creditorsnote: Listed as secured creditor on List of Proven Creditors; no amount stated. · page: 7 · as of: 2024-01-18 · debtor: Integro Building Systems Inc. · creditor: Vault Credit Corporation · currency: CAD
- secured creditorsnote: RBC filed a claim of $9,328,316.00 in the bankruptcy, of which it claims secured status only to the extent of $500,000.00 based on its own valuation of its security; the balance is unsecured. Bifurcated secured/unsecured claim. · page: 12 · as of: claim filed in bankruptcy · amount: 500000 · debtor: Integro Building Systems Inc. · creditor: Royal Bank of Canada · currency: CAD
- unsecured creditorsnote: Deemed trust claim for unremitted employee source deduction withholdings; exact amount not yet determined, trust examination ongoing; Trustee estimates 'no less than $3 million and possibly greater' (floor amount). Ranks ahead of secured claims. · page: 12 · as of: Trustee's estimate, pending completion of trust examination · basis: Trustee's estimate as reported in agenda materials · amount: 3000000 · debtor: Integro Building Systems Inc. · creditor: Canada Revenue Agency · currency: CAD
- unsecured creditorsnote: Total claim filed was $9,328,316.00; RBC claims $500,000.00 as secured (see secured_creditors), remainder unsecured ($8,828,316.00 by subtraction of stated components, reported here as the unsecured portion per document's own bifurcation). · page: 12 · as of: claim filed in bankruptcy · basis: Proof of claim filed in bankruptcy, bifurcated per RBC's own security valuation · amount: 8828316 · debtor: Integro Building Systems Inc. · creditor: Royal Bank of Canada · currency: CAD
- secured creditorsnote: Related party (per document, 'State is a party related to the Bankrupt'). Also listed on List of Proven Creditors as Secured creditor/Unsecured creditor. CRA's deemed trust claim has priority over State's and RBC's secured claims; State Machine being sold despite State's security interest. · page: 15 · debtor: Integro Building Systems Inc. · creditor: State Window Corporation · currency: CAD · security: Security interest in the 'State Machine' (CNC machine leased to Bankrupt)
- recovery outcomeentries: basis: estimated · quote: CRA, as the holder of a deemed trust claim in first priority to these assets and who may suffer a shortfall, is supportive of the contemplated transaction. · pct of: unstated · outcome: shortfall · class key: deemed_trust · stated by: trustee · class label: CRA (deemed trust claim) · creditor name: CRA · interim final: unstated · claims qualifier: unstated · table missing: