Ontario · NOI
Notice to Creditors re: Proposal Filing and Creditor's Meeting
Notice to creditors · 27 August 2026
A plain-language read of this filing opens with a subscription.
What we verified from this filing11 verified
- unsecured creditorsnote: Corporate taxes; account 857851836 RC0001; Crown/deemed trust class · page: 4 · as of: NOI filing date · basis: List of Creditors / Statement of Affairs (Form 78) as reported · amount: 500 · debtor: JMC Security and Investigations Inc. · creditor: CRA - GST/HST - Jonquiere (Corporate Tax) · currency: CAD
- unsecured creditorsnote: Accounts payable · page: 4 · as of: NOI filing date · basis: List of Creditors / Statement of Affairs (Form 78) as reported · amount: 5000 · debtor: JMC Security and Investigations Inc. · creditor: Anthony L. Colangelo CPA, Professional Corporation · currency: CAD
- unsecured creditorsnote: Sales taxes (HST) - deemed trust class; account 857851836 RT0001 · page: 4 · as of: NOI filing date · basis: List of Creditors / Statement of Affairs (Form 78) as reported · amount: 469514.43 · debtor: JMC Security and Investigations Inc. · creditor: CRA - GST/HST - Jonquiere (HST Debt) · currency: CAD
- unsecured creditorsnote: Employee source deductions; account 857851836 RP0001; deemed trust class; Trustee report notes possible additional deemed trust claim from payroll reporting issues, to be paid by Company outside Proposal · page: 4 · as of: NOI filing date · basis: List of Creditors / Statement of Affairs (Form 78) as reported · amount: 1000 · debtor: JMC Security and Investigations Inc. · creditor: CRA - GST/HST - Jonquiere (Payroll Source Deductions) · currency: CAD
- unsecured creditorsnote: Shareholder loan; related party creditor (John Cowan, director/shareholder) - per Proposal, Related Party Creditors postpone payment and do not participate in distribution of Proposal Fund · page: 4 · as of: NOI filing date · basis: List of Creditors / Statement of Affairs (Form 78) as reported · amount: 51006 · debtor: JMC Security and Investigations Inc. · creditor: J. Cowan · currency: CAD
- financial positionnote: Deficiency of $427,841.69 reported. Liabilities breakdown per SOA: Secured $79,166.65, Preferred $0.00, Unsecured $527,022.43, Contingent/other $150,000.00 (severance), totaling $756,189.08. Total assets $328,347.39. Trustee's Report separately estimates unsecured claims at $476,016 (excluding potential unsecured shortfall of Secured Creditors and Related Party claims) for purposes of distribution calculation, and at $677,022 in the bankruptcy-scenario table - both figures differ from the SOA total and are noted as estimates for specific illustrative purposes. · page: 18 · as at: 2026-07-24 · basis: Statement of Affairs (Form 78), sworn/declared by director John Neill Cowan on 2026-08-21, stated and estimated by debtor; not audited or investigated by Trustee · scope: JMC Security and Investigations Inc. (single entity, corporate debtor) · currency: CAD · total assets: 328347.39 · total liabilities: 756189.08
- secured creditorsnote: PPSA registration by The Toronto Dominion Bank per search dated July 20, 2026; estimated surplus/deficit from security shown as $249,180.74 on SOA (Form 78); listed as List of Creditors item and Form 78 secured claim · page: 20 · as of: NOI filing date · amount: 79166.65 · debtor: JMC Security and Investigations Inc. · creditor: TD Canada Trust c/o FCT Default Solutions · currency: CAD · security: Bank loan (Account #9207413), secured against business assets and receivables (Book Value: 296,064.37); assets securing liability listed as items 101, 1301, 1102, 1101, 801, 802, 803, 804
- unsecured creditorsnote: Severance pay; classified as preferred/priority under s.136(1) of the Act in Form 78; Trustee report states it is not aware of any Preferred Creditors, creating an inconsistency between the SOA classification and the Trustee's statement · page: 20 · as of: NOI filing date · basis: Statement of Affairs (Form 78) as reported · amount: 150000 · debtor: JMC Security and Investigations Inc. · creditor: Employees - Various · currency: CAD
- unsecured creditorsnote: Accounts payable (second Visa account, unsecured) · page: 21 · as of: NOI filing date · basis: Statement of Affairs (Form 78) as reported · amount: 1 · debtor: JMC Security and Investigations Inc. · creditor: TD Canada Trust Visa c/o FCT Default Solutions · currency: CAD
- unsecured creditorsnote: Accounts payable (Visa account, unsecured) · page: 21 · as of: NOI filing date · basis: Statement of Affairs (Form 78) as reported · amount: 1 · debtor: JMC Security and Investigations Inc. · creditor: TD Canada Trust Visa c/o FCT Default Solutions · currency: CAD
- recovery outcomeentries: basis: plan · quote: | Estimated Distribution to Ordinary Unsecured Creditors per dollar of proven claim | | 25% | · pct of: proven_claims · outcome: distribution · pct low: 25 · pct high: 25 · class key: unsecured · stated by: proposal_trustee · class label: Ordinary Unsecured Creditors · claims amount: 476016 · interim final: unstated · cents on dollar: 25 · claims qualifier: estimated; basis: plan · quote: If this Proposal is accepted by the Creditors and approved by the Court, Related Party Creditors will not participate in the distribution of the Proposal Fund. · pct of: unstated · outcome: nil · class key: unsecured · stated by: proposal_trustee · class label: Related Party Creditors · interim final: unstated · related party: true · conditional on: If this Proposal is accepted by the Creditors and approved by the Court · claims qualifier: unstated; basis: liquidation_alternative · quote: After payment of priority obligations as set out above on page 4, there would not be any distribution to Unsecured Creditors, compared to twenty-five cents ($0.25) on the dollar from this Proposal. · pct of: unstated · outcome: nil · class key: unsecured · stated by: proposal_trustee · class label: Unsecured Creditors · interim final: unstated · claims qualifier: unstated · stated on: 2026-08-27 · table missing: