Ontario · Bankruptcy
Preliminary Report of Trustee
Court officer report · 12 February 2024
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What we verified from this filing12 verified
- appointeeMNP Ltd.
- appointee roletrustee
- commencement date22 January 2024
- court file no35-3033170
- proceeding typebia_bankruptcy
- secured creditorsnote: Deemed trust claim; CRA has not yet filed a claim to quantify this amount; proven amount is nil per SOA table. Prose elsewhere states 'approximately $105,000'. · page: 2 · as of: Statement of Affairs · amount: 105950 · debtor: Sugar Daddies Bakery Inc. · creditor: Canada Revenue Agency (CRA) · currency: CAD · security: Statutory deemed trust priority charge over all assets for unremitted source deductions
- statutory basisSection 67(b), of the Bankruptcy and Insolvency Act
- unsecured creditorsnote: Document names no individual creditors; proofs of claim filed for unsecured claims total $973,148, a materially higher figure than the SOA estimate, noted here per document's own comparative table. · page: 2 · as of: Statement of Affairs · basis: Statement of Affairs as reported · amount: 136710 · debtor: Sugar Daddies Bakery Inc. · creditor: Unsecured creditors (aggregate as reported) · currency: CAD
- secured creditorsnote: Component of combined 'Secured $378,764' Statement of Affairs figure (not broken out); RBC obtaining appraisal before deciding to seize/sell or abandon assets; no proof of claim filed. · page: 3 · debtor: Sugar Daddies Bakery Inc. · creditor: Royal Bank of Canada (RBC) · currency: CAD · security: General security agreement over assets of the Company
- secured creditorsnote: No equity in leases based on buyouts and black book value; vehicles to be released to Mercedes Benz; no proof of claim filed. · page: 3 · debtor: Sugar Daddies Bakery Inc. · creditor: Mercedes Benz · currency: CAD · security: Security registrations against two leased vehicles
- provinceOntario
- recovery outcomeentries: basis: estimated · quote: It is unlikely there will be a distribution to unsecured creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated · stated on: 2024-02-12 · table missing: