Ontario · Bankruptcy
Notice to Creditors regarding the Bankruptcy and First Meeting of Creditors
Notice to creditors · 22 April 2024
What we verified from this filing16 verified
- commencement date19 April 2024
- court file no32-3070348
- financial positionnote: Total unsecured creditors $734,400.75 (unsecured per List A $508,696.75 plus balance of secured claims per List B $225,704.00); secured creditors per List B $8,001.00; preferred creditors per List C $1.00; contingent/trust/other per List D $0.00. Total assets $8,001.00 (machinery/leasehold improvement estimated to produce $8,000.00 against original cost $366,000.00, plus $1.00 cash); deficiency $734,401.75; surplus NIL. Date of bankruptcy 19-Apr-2024. · page: 2 · as at: 2024-04-19 · basis: Statement of Affairs (Form 78, Business Bankruptcy) as stated and estimated by the officer · scope: Entity - Simandal Int'l Limited (City of Mississauga, Ontario) · currency: CAD · total assets: 8001 · total liabilities: 742402.75
- unsecured creditorspage: 3 · as of: 2024-04-19 · basis: Statement of Affairs (Form 78) List A - Unsecured Creditors, as stated and estimated by the officer · amount: 1 · debtor: Simandal Int'l Limited · creditor: Alectra Utilities (formerly Horizon Utilities Corporation) · currency: CAD
- unsecured creditorspage: 3 · as of: 2024-04-19 · basis: Statement of Affairs (Form 78) List A - Unsecured Creditors, as stated and estimated by the officer · amount: 1 · debtor: Simandal Int'l Limited · creditor: Bell Canada - Residential (c/o FCT Default Solutions) · currency: CAD
- unsecured creditorspage: 3 · as of: 2024-04-19 · basis: Statement of Affairs (Form 78) List A - Unsecured Creditors, as stated and estimated by the officer · amount: 1 · debtor: Simandal Int'l Limited · creditor: Bell Mobility (c/o FCT Default Solutions) · currency: CAD
- unsecured creditorsnote: Total claim stated as $0.00 · page: 3 · as of: 2024-04-19 · basis: Statement of Affairs (Form 78) List A - Unsecured Creditors, as stated and estimated by the officer · amount: 0 · debtor: Simandal Int'l Limited · creditor: BentallGreenOak (Canada) Limited Partnership (c/o Sun Life Assurance Company) · currency: CAD
- unsecured creditorsnote: Unsecured shortfall (balance of claim) of the CIBC secured claim in List B; total CIBC claim $233,705.00 of which $8,001.00 is secured. · page: 3 · as of: 2024-04-19 · basis: Statement of Affairs (Form 78) List A - Unsecured Creditors, as stated and estimated by the officer · amount: 225704 · debtor: Simandal Int'l Limited · creditor: CIBC Bankruptcies c/o TECHCOM Managed Services (Loan #05422 7117558) · currency: CAD
- unsecured creditorsnote: CRA GST/HST (account 771308509 RT0001/RC0001) - deemed trust class · page: 3 · as of: 2024-04-19 · basis: Statement of Affairs (Form 78) List A - Unsecured Creditors, as stated and estimated by the officer · amount: 1 · debtor: Simandal Int'l Limited · creditor: Canada Revenue Agency - GST/HST - Jonquiere · currency: CAD
- unsecured creditorspage: 3 · as of: 2024-04-19 · basis: Statement of Affairs (Form 78) List A - Unsecured Creditors, as stated and estimated by the officer · amount: 1 · debtor: Simandal Int'l Limited · creditor: Enbridge Gas Distribution - Ontario · currency: CAD
- unsecured creditorsnote: Shareholder Loan - related party; Iun Via Wong is also the officer who swore the Statement of Affairs · page: 3 · as of: 2024-04-19 · basis: Statement of Affairs (Form 78) List A - Unsecured Creditors, as stated and estimated by the officer · amount: 508126.99 · debtor: Simandal Int'l Limited · creditor: Iun Via Wong · currency: CAD
- unsecured creditorspage: 3 · as of: 2024-04-19 · basis: Statement of Affairs (Form 78) List A - Unsecured Creditors, as stated and estimated by the officer · amount: 264.31 · debtor: Simandal Int'l Limited · creditor: Maheu&Mahau Pest Control · currency: CAD
- unsecured creditorsnote: Franchisor · page: 3 · as of: 2024-04-19 · basis: Statement of Affairs (Form 78) List A - Unsecured Creditors, as stated and estimated by the officer · amount: 299.45 · debtor: Simandal Int'l Limited · creditor: MTY Franchising Inc. · currency: CAD
- unsecured creditorspage: 3 · as of: 2024-04-19 · basis: Statement of Affairs (Form 78) List A - Unsecured Creditors, as stated and estimated by the officer · amount: 1 · debtor: Simandal Int'l Limited · creditor: Region of Peel - Water Department · currency: CAD
- secured creditorsnote: List B secured creditor; amount of claim $233,705.00 as at date of bankruptcy (19-Apr-2024). Claim bifurcated by security valuation: secured portion (estimated value of security) $8,001.00; unsecured shortfall (balance of claim) $225,704.00 also listed in List A (entry 5). · page: 4 · as of: 2024-04-19 · amount: 233705 · debtor: Simandal Int'l Limited · creditor: CIBC Bankruptcies c/o TECHCOM Managed Services (Loan #05422 7117558) · currency: CAD · security: Business Assets - Machinery - Leasehold Improvement (security given 21-Oct-2021, estimated value $8,000.00); Cash on Hand - Chequing 010054221722719 CIBC Bank (security given 21-Oct-2021, estimated value $1.00); total estimated value of security $8,001.00
- unsecured creditorsnote: Preferred creditor (BIA List C) - Landlord, Port Street Market; amount payable in full $0.00, difference ranking for dividend $1.00 · page: 5 · as of: 2024-04-19 · basis: Statement of Affairs (Form 78) List C - Preferred Creditors for Wages, Rent, etc. · amount: 1 · debtor: Simandal Int'l Limited · creditor: Sun Life Assurance Company of Canada · currency: CAD