Ontario · NOI
Motion Record - Moving Party - Brands International Corporation
Application / notice of application · 27 December 2024
What we verified from this filing13 verified
- commencement date27 December 2024
- courtSUPERIOR COURT OF JUSTICE (COMMERCIAL LIST)
- court file noBK-24-03169618-0031
- provinceONTARIO
- applicantBrands International Corporation
- appointeeKPMG Inc.
- appointee roleproposal trustee
- statutory basissubsection 50.4(9) of the Bankruptcy and Insolvency Act
- financial positionnote: Precise stated figure of approximately $12.5 million supersedes the rounder prose approximation elsewhere in the record ('over $12 million in liabilities, over half of which is owed to' CWB, at pages 7 and 15). No total assets figure stated in the reviewed pages. · page: 24 · as at: date of this filing · basis: Affidavit statement of approximate total liabilities (management estimate) · scope: Brands International Corporation (single entity) · currency: CAD · total liabilities: 12500000
- secured creditorsnote: Source deductions owed; deemed trust class claim (not a PPSA registrant). · page: 24 · as of: date of filing · amount: 210000 · debtor: Brands International Corporation · creditor: Canada Revenue Agency · currency: CAD
- secured creditorsnote: Principal amount of the 'Indebtedness' as of the NOI, comprised of a revolving demand operating loan, non-revolving demand draw facility, non-revolving term loan facility, and corporate credit card; described in prose elsewhere as 'over $12 million in liabilities, over half of which is owed to' CWB (approximation only) and as the Company's senior secured lender. · page: 25 · as of: NOI filing date · amount: 6700000 · debtor: Brands International Corporation · creditor: Canadian Western Bank · currency: CAD · security: General security agreement over all present and after-acquired assets and undertaking; PPSA financing statement registered against all collateral classifications
- secured creditorsnote: Travelers Finance Ltd.'s registration relates to a vehicle no longer leased by the Company (registration may be stale/inactive); no amounts stated for any of these registrants. · page: 26 · debtor: Brands International Corporation · creditor: PPSA equipment financiers (PMSI class) · currency: CAD · security: Serialized-equipment/lease financing statements: CWB National Leasing Inc. (two leases - sealing machine, insulated processing tank, rotary table and related processing equipment); Evoqua Water Technologies LLC fka Siemens Water Technologies LLC (water processing system equipment lease); Travelers Finance Ltd. (lease of 2016 Mercedes-Benz GLE-Class Coupe); IndCom Leasing Inc. (mini carton sealing machine and labeler lease)
- secured creditorspage: 26 · debtor: Brands International Corporation · creditor: Loop Fund I LP · currency: CAD · security: PPSA registration over all present and after-acquired personal property (blanket registrant); relates to Company's credit card