Ontario · Bankruptcy
Trustee's Preliminary Report
Court officer report · 10 August 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 filing9 verified
- appointeeMNP Ltd.
- appointee roleTrustee
- commencement date23 July 2026
- court file no31-3147113 and 31-3147139
- proceeding typebia_bankruptcy
- provinceONTARIO
- statutory basisBankruptcy and Insolvency Act
- financial positionnote: As-at date is not stated; as-at is the date of bankruptcy per the SOA (assignment July 23, 2026). Assets are the single line 'Cash in Bank' $339,222.20, which is the stale-dated ISTC Cheque held in trust by the Trustee; ISTC advised the cheque was issued in error. Liabilities of $6,124,285.21 are the total per Capital's SOA, all unsecured. Technologies: Cash in Bank $1.00; total claims $420,834.00. · basis: Sworn Statement of Affairs (estimated realizable values), Capital only; the Trustee has not reviewed or audited the books and records. The Trustee notes the ISTC cheque making up the sole asset was issued to Capital in error and was not reported on Capital's earlier SOA sworn November 26, 2024. · scope: Untether Capital Inc. only (per its sworn SOA). Companion entity Untether Technologies Inc. SOA: assets $1.00 (Cash in Bank), liabilities $420,834.00 (secured $1.00, unsecured $420,833.00). · currency: CAD · total assets: 339222.2 · total liabilities: 6124285.21
- recovery outcomeentries: basis: estimated · quote: Subject to the validity of the security, it is anticipated that the Secured Creditors will suffer a shortfall, and therefore, a distribution to unsecured creditors is unlikely. · pct of: unstated · outcome: shortfall · class key: secured · stated by: trustee · class label: Secured Creditors · interim final: unstated · conditional on: Subject to the validity of the security · claims qualifier: unstated; basis: estimated · quote: Subject to the validity of the security, it is anticipated that the Secured Creditors will suffer a shortfall, and therefore, a distribution to unsecured creditors is unlikely. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: unsecured creditors · interim final: unstated · conditional on: Subject to the validity of the security · claims qualifier: unstated · stated on: 2026-08-10 · table missing: