Ontario · NOI
Notice of proposal - 1995677 Ontario inc.
Notice to creditors · 17 February 2025
A plain-language read of this filing opens with a subscription.
What we verified from this filing2 verified
- financial positionnote: Statement of Affairs total assets line shows $0.00 (placeholder for notification only); list of assets shows estimated realizable value/debtor's interest of $250,000.00 (cash). Liabilities breakdown: Secured creditors $7,367,911.48; Preferred creditors $0.00; Unsecured creditors $6,988,935.55; Contingent/trust claims $1.00. Deficiency stated as -$14,356,848.03. Trustee's report separately lists estimated creditor claims totaling $14,360,299 (secured $7,367,911; unsecured $6,284,055; related creditors $708,333). · as at: 2025-02-14 · basis: Statement of Affairs (Corporate Proposal) - as stated and estimated by debtor · scope: entity - 1995677 Ontario Inc. · currency: CAD · total assets: 0 · total liabilities: 14356848.03
- recovery outcomeentries: basis: plan · quote: The Court approved sale of the assets of the Proposer provides that an amount of $250,000 will be set aside to allow the Proposer to make a Proposal to its unsecured creditors notwithstanding the significant shortfall incurred by the Proposer's secured creditors; · pct of: unstated · outcome: shortfall · class key: secured · stated by: trustee · class label: secured creditors · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: | Estimated dividend | 2.42% | · pct of: unstated · outcome: distribution · pct low: 2.42 · pct high: 2.42 · class key: unsecured · stated by: trustee · amount low: 210450 · amount high: 210450 · class label: unsecured creditors · claims amount: 8693910 · interim final: unstated · claims qualifier: unstated · stated on: 2025-02-17 · table missing: