Ontario · NOI
First Report of the Trustee
Court officer report · 20 May 2025
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing10 verified
- unsecured creditorsnote: BIA preferred claim under ss.81.3/81.4; statutory cap of a maximum $18,000 (wages/vacation pay) plus $9,000 (unpaid travelling salesperson expenses) for priority purposes; Jukes, as sole officer/director, is excluded from secured priority claim under ss.81.3(6)/81.4(6) · page: 12 · as of: 2025-05-16 · basis: Total accrued and outstanding vacation pay as reported by the Companies · amount: 47281.26 · debtor: Jumbleberry Interactive Group Ltd. and Galactic Propeller Holdings Ltd. (the Companies) · creditor: Employees - vacation pay (9 permanent full-time employees, excluding Jukes) · currency: CAD
- secured creditorspage: 13 · as of: NOI Filing Date · amount: 2871494 · debtor: Galactic Propeller Holdings Ltd. (borrower); guaranteed by Jumbleberry Interactive Group Ltd. · creditor: BDC Capital Inc. · currency: CAD · security: Term loan facility; security includes an undated, signed Collateral Assignment Moveable Hypothec of Insurance purporting to assign the Life Policy (face value $2.5M) as collateral
- secured creditorsnote: As of May 13, 2025, neither Stripe nor Celtic appeared to have registered financing statements in the Ontario PPSA registry in respect of Celtic's security interest against Galactic or Jumbleberry - perfection unconfirmed · page: 13 · as of: NOI Filing Date · amount: 100696 · debtor: Galactic Propeller Holdings Ltd. (Squaredance) as borrower under a loan agreement with Celtic dated May 9, 2024 · creditor: Celtic Bank / Stripe, Inc. and/or Stripe Servicing, Inc. (Stripe as loan administrator) · currency: CAD · security: Merchant cash advance fixed-fee loan; security interest in funds owed to Galactic from Stripe-processed sales, Galactic's Stripe account and proceeds, and all business assets; initial loan advance was $249,991.56 USD
- secured creditorsnote: Provincial tax liability (Employer Health Tax) - regulatory/tax claim secured by PPSA registration · page: 13 · as of: NOI Filing Date · amount: 22175 · debtor: Jumbleberry Interactive Group Ltd. · creditor: His Majesty in right of Ontario, represented by the Minister of Finance (MoF) · currency: CAD · security: Registered security interest (lien) in the Ontario Personal Property Security Registry against Jumbleberry's Property, relating to Employer Health Tax account no. 811786896TE0004
- secured creditorsnote: Ranking/priority agreement between TD Bank and BDC as to their respective charges is described in paragraph 19 of the Jukes Affidavit (not reproduced here) · page: 13 · as of: NOI Filing Date · amount: 1372326 · debtor: Jumbleberry Interactive Group Ltd. and Galactic Propeller Holdings Ltd. (the Companies) · creditor: 1000739703 Ontario Inc. (the Stalking Horse, as assignee of the Companies' secured revolving credit facility from Toronto-Dominion Bank) · currency: CAD · security: Assignee of TD Bank's secured revolving credit facility over the Companies' Property; also acts as DIP Lender under a separate second-ranking DIP Lender's Charge of $150,000 (not included in this balance)
- unsecured creditorsnote: Includes amounts owing to the Landlord; document does not itemize individual creditors beyond referencing the Landlord · page: 14 · as of: NOI filing · basis: Aggregate total of unsecured liabilities listed in Galactic's NOI filings · amount: 166191.54 · debtor: Galactic Propeller Holdings Ltd. · creditor: Unsecured creditors (aggregate as reported) - Galactic Propeller Holdings Ltd. · currency: CAD
- unsecured creditorspage: 14 · as of: NOI filing · basis: Only unsecured creditor listed in Jumbleberry's NOI filings · amount: 16047.22 · debtor: Jumbleberry Interactive Group Ltd. · creditor: KPMG · currency: CAD
- purchaser1000739703 Ontario Inc.
- sale outcometext: The Stalking Horse Agreement has been entered into as a stalking horse bid subject to Court approval and the SISP · scope: whole_business · status: process_approved
- stalking horse1000739703 Ontario Inc. (25000)