Ontario · Bankruptcy
Trustee’s Preliminary Report to the Creditors dated January 30, 2025
Court officer report · 30 January 2025
A plain-language read of this filing opens with a subscription.
What we verified from this filing9 verified
- court file no35-3175530
- provinceONTARIO
- appointeeTDB Restructuring Limited
- appointee roleLicensed Insolvency Trustee
- commencement date17 January 2025
- financial positionnote: Assets per SOA: furniture, fixtures and equipment estimated realizable value $41,820 (all encumbered under CIBC GSA). Liabilities per SOA: Secured Claims $41,820.00 (Statement of Affairs) / total secured debt to CIBC $43,019; Preferred Claims $0.0; Unsecured Claims $475,105.25 per SOA vs. $233,633.16 filed as of January 30, 2025. Trustee states estimated realizable value of assets is far less than the cost of recovery. · as at: 2025-01-17 · basis: Statement of Affairs sworn January 17, 2025 - estimated realizable value / debtor's own figures, not audited · scope: The Sanctuary Day Spas Inc. (single entity, bankrupt estate) · currency: CAD
- operational summaryThe Company has ceased operations, vacated its leased premises, and abandoned its remaining assets, which are subject to the secured creditor's general security agreement; the Trustee anticipates no funds will be available for distribution.
- report date30 January 2025
- report noTrustee's Preliminary Report to the Creditors