Ontario · Bankruptcy

Trustee's Preliminary Report dated

Court officer report · 21 October 2022

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appointeeMNP Ltd.
appointee roleLicensed Insolvency Trustee
commencement date30 September 2022
court file no31-2871157
proceeding typebia_bankruptcy
provinceOntario
financial positionnote: Assets: $19.76 cash in bank and $800.00 furniture per Statement of Affairs. Liabilities: Secured $440,266.43, Preferred $0, Unsecured $193,401.00, total $441,086.19 per Statement of Affairs; Proven & Filed to October 21, 2022 totals $0 across all classes. · page: 2 · as at: 2022-09-30 · basis: Statement of Affairs as reported · scope: entity - Princeton Academy of Canada Inc. · currency: CAD · total assets: 819.76 · total liabilities: 441086.19
secured creditorsnote: Per Statement of Affairs amount $440,266.43; per Proven & Filed to October 21, 2022, $0 (no proof of claim received from RBC). Trustee reviewed security and believes it is valid and enforceable. · page: 2 · as of: Statement of Affairs (September 30, 2022) · amount: 440266.43 · debtor: Princeton Academy of Canada Inc. · creditor: Royal Bank of Canada · currency: CAD · security: PPSA security agreement over Inventory, Equipment, Accounts, Other, Motor Vehicle
unsecured creditorsnote: Document names no individual creditors. Per Proven & Filed to October 21, 2022, $0 unsecured claims proven and filed. · page: 2 · as of: Statement of Affairs (September 30, 2022) · basis: Statement of Affairs as reported · amount: 193401 · debtor: Princeton Academy of Canada Inc. · creditor: Unsecured creditors (aggregate as reported) · currency: CAD
recovery outcomeentries: basis: estimated · quote: The Trustee does not anticipate any distribution to unsecured creditors in the bankruptcy. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated · stated on: 2022-10-21 · table missing: