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What we verified from this filing9 verified
- cash on handnote: Net Sale Proceeds remaining with the Proposal Trustee; separately, MaxSold had additional cash on hand of approximately $52,000 · amount: 625000 · currency: CAD · qualifier: approximately
- closing confirmedscope: All of the Company's assets, properties and undertakings other than the Excluded Assets · outcome: completed · effective: 2024-05-06 · purchaser: 1000822913 Ontario Inc. · date basis: stated
- operational summaryMaxSold sold substantially all of its business assets to a third-party purchaser (which re-hired most employees) and, lacking sufficient sale proceeds to fund a proposal, was deemed bankrupt; the Trustee is now administering the estate's remaining cash and claims.
- process resultsbids: 2 · ndas: 8 · note: Eight other parties signed NDAs and carried out due diligence; the Stalking Horse Bid was the only Qualified Bid; a second bid was received but did not qualify and was withdrawn. · as of: 2024-04-16 · qualified bids: 1
- professional feesnote: approximate figure covering outstanding fees and disbursements · party: professionals (Proposal proceeding), pursuant to the Administrative Charge · amount: 73000 · currency: CAD
- purchaser1000822913 Ontario Inc.
- report date27 May 2024
- sale outcometext: the Company completed a sale of its assets to a third-party purchaser · scope: whole_business · status: closed
- stalking horse1000822913 Ontario Inc. (750000)