Ontario · Bankruptcy
Minutes of the First Meeting of Creditors and Trustee’s Preliminary Report
Meeting materials · 17 May 2022
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What we verified from this filing13 verified
- court file no31-2825069
- provinceOntario
- appointeeGoldhar & Associates Ltd
- appointee roleTrustee
- financial positionnote: Statement of Affairs total liabilities of $673,780.22 (secured $337,037.22 + unsecured $336,743.00); trustee advised nominal assets available and did not take possession; the trustee is not expressing an opinion as to accuracy of the information. · page: 9 · as at: 2022-04-27 · basis: SOA management estimate; trustee has not audited or verified information; equipment/furniture original cost $89,044 (equipment $83,394 + furniture/fixtures $5,650), distress sale value appraised at approximately $4,600 plus tax · scope: entity - 12413906 Canada Inc. O/A AJ Concept Auto Modifications (bankrupt debtor) · currency: CAD · total assets: 4600 · total liabilities: 673780.22
- secured creditorsnote: Statement of Affairs listed secured claim at $337,037.22; claim as filed and admitted for BMO's secured portion is $288,758.97. Trustee has not verified the claim. Portion of BMO's debt exceeding distress sale value of assets ($332,434.22) reflected as unsecured claim (see unsecured creditors). · page: 11 · as of: claim as filed, as at May 16, 2022 · amount: 288758.97 · debtor: 12413906 Canada Inc. O/A AJ Concept Auto Modifications · creditor: Bank of Montreal (BMO Financial Group) · currency: CAD · security: PPSA registered charge (confirmed via PPSA search conducted April 11, 2022, file currency up to April 10, 2022); financed approximately $350,000 plus a $10,000 business Mastercard in 2020
- unsecured creditorsnote: No proof of claim filed; claim status 'Not proved'. Deemed trust class (CRA GST/HST). · page: 11 · as of: Statement of Affairs · basis: Statement of Affairs as reported · amount: 4303.78 · debtor: 12413906 Canada Inc. O/A AJ Concept Auto Modifications · creditor: CRA - GST/HST - Sudbury · currency: CAD
- unsecured creditorsnote: No proof of claim filed; claim status 'Not proved'. Nominal placeholder amount; deemed trust class (CRA). · page: 11 · as of: Statement of Affairs · basis: Statement of Affairs as reported · amount: 1 · debtor: 12413906 Canada Inc. O/A AJ Concept Auto Modifications · creditor: CRA - Tax - Ontario (706615879RC0001) · currency: CAD
- unsecured creditorsnote: No proof of claim filed; claim status 'Not proved'. Nominal placeholder amount; deemed trust class (CRA). · page: 11 · as of: Statement of Affairs · basis: Statement of Affairs as reported · amount: 1 · debtor: 12413906 Canada Inc. O/A AJ Concept Auto Modifications · creditor: CRA - Tax - Ontario (706615879RP0001) · currency: CAD
- unsecured creditorsnote: SOA amount for this unsecured claim was $332,434.22, representing the balance of BMO's secured claim exceeding the estimated distress sale value of available assets, reflected as unsecured plus a $20,000 business Mastercard; only $20,000 has been filed and admitted as a proof of claim. · page: 11 · as of: claim as filed, as at May 16, 2022 · basis: Claims Register - Amount Filed / Admitted for Dividend · amount: 20000 · debtor: 12413906 Canada Inc. O/A AJ Concept Auto Modifications · creditor: Bank of Montreal (BMO Financial Group) · currency: CAD
- unsecured creditorsnote: No proof of claim filed; claim status 'Not proved'. Nominal placeholder amount; regulatory/government claim. · page: 11 · as of: Statement of Affairs · basis: Statement of Affairs as reported · amount: 1 · debtor: 12413906 Canada Inc. O/A AJ Concept Auto Modifications · creditor: Ministry of Finance - Collections Branch, Non Tax Revenue Collections Unit · currency: CAD
- unsecured creditorsnote: No proof of claim filed; claim status 'Not proved'. Nominal placeholder amount; regulatory claim. · page: 11 · as of: Statement of Affairs · basis: Statement of Affairs as reported · amount: 1 · debtor: 12413906 Canada Inc. O/A AJ Concept Auto Modifications · creditor: Workplace Safety and Insurance Board · currency: CAD
- unsecured creditorsnote: No proof of claim filed; claim status 'Not proved'. Nominal placeholder amount. · page: 11 · as of: Statement of Affairs · basis: Statement of Affairs as reported · amount: 1 · debtor: 12413906 Canada Inc. O/A AJ Concept Auto Modifications · creditor: Jayce LLP · currency: CAD