Ontario · NOI
First Report of MNP Ltd., In Its Capacity as Proposal Trustee
Court officer report · 10 July 2026
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 filing4 verified
- financial positionnote: No single stated total assets/liabilities figure. Assets consist primarily of cash, inventory with cost value of approximately $3,107,961 as at April 30, 2026, and an amount owing from related party North Bay of approximately $1,195,059 (page 6-7). Unsecured creditors owed approximately $3,535,000 as at Date of Filing (June 15, 2026), comprised of approximately $565,278 to trade creditors and approximately $2,970,000 to shareholders (related parties) (page 7). Post-filing, a demand letter dated June 25, 2026 from counsel to Fortress Iron, LP (Fortress Building Products) sought $682,624.01 for unpaid invoices to North Bay, not reflected on the Company's list of creditors filed with the NOI (page 7). Pre-filing HST arrears of approximately $21,870 also noted (page 7). · page: 6 · basis: unaudited, draft and/or internal financial information / management estimates · scope: entity - 2491000 Ontario Inc. a/k/a DeckMart Building Supplies · currency: CAD
- secured creditorsnote: Approximate indebtedness; loan arrangements. · page: 6 · as of: Date of Filing · amount: 154000 · debtor: 2491000 Ontario Inc. a/k/a DeckMart Building Supplies · creditor: Business Development Bank of Canada (BDC) · currency: CAD · security: General security agreement registered under the PPSA (Ontario)
- secured creditorsnote: Approximate indebtedness; obligations include loan and leasing arrangements and a guarantee in respect of a related party (North Bay). RBC closed DeckMart's line of credit and credit card following the NOI filing; DeckMart remains liable for a shared line with related party North Bay. · page: 6 · as of: Date of Filing · amount: 1065000 · debtor: 2491000 Ontario Inc. a/k/a DeckMart Building Supplies · creditor: Royal Bank of Canada (RBC) · currency: CAD · security: General security agreement registered under the PPSA (Ontario)
- secured creditorsnote: Amount not specified. Obligations relate to vehicle leases used by the shareholders (related party use). Security opinion pending — Proposal Trustee has not obtained an independent security opinion as to validity/priority, and characterization as PMSI is descriptive only. · page: 6 · debtor: 2491000 Ontario Inc. a/k/a DeckMart Building Supplies · creditor: Mercedes-Benz Financial · currency: CAD · security: Purchase money security interests in respect of certain vehicle leases