Ontario · Bankruptcy

Notice of Bankruptcy - Notice to Creditors-Proinstallers Inc. aka. Pro - Installateurs Inc.

Notice to creditors · 27 November 2024

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 filing1 verified

financial positionnote: Liabilities: secured creditors $31,006.00; preferred creditors $0.00; unsecured creditors $507,834.54; contingent/trust claims $0.00. Assets as at the date of bankruptcy (21 Nov 2024); statement sworn 26 Nov 2024. The form shows a deficiency of -485,382.01 in the assets section and a 'Surplus' of 485,382.01 in the liabilities section (the stated figures are inconsistent in sign; the difference between liabilities and assets is 485,382.01). Cash on hand $0.00; deposits in financial institutions $0.00; inventory, trade fixtures, machinery, real property, furniture and intangibles each $0.00. The Form 68 header is marked 'Original' while the Form 78 is marked 'Amended'. · as at: 2024-11-21 · basis: Statement of Affairs (Form 78) 'as stated and estimated by bankrupt/debtor'; sworn by the director on 26 Nov 2024. Assets include four vehicles at $53,457.53 (the Toyota Hino and Hyundai Elantra at $1.00 each, the Nissan Sentra at $31,003.00, the Mitsubishi RVR at $22,452.53) plus $1.00 for intercompany accounts receivable. · scope: PROINSTALLERS INC. aka PRO - INSTALLATEURS INC. (c.o.b. The Hardwood Outlet), single entity; not consolidated · currency: CAD · total assets: 53458.53 · total liabilities: 538840.54