Ontario · NOI
First Report of the Proposal Trustee dated April 11, 2024
Court officer report · 11 April 2024
A plain-language read of this filing opens with a subscription.
What we verified from this filing8 verified
- secured creditorsnote: Discharged/paid off in full; reported as of PPRS search date March 31, 2024 · page: 4 · as of: 2024-03-31 · amount: 0 · debtor: National Traffic Safety Management Inc. · creditor: Neli Financial Incorporated · currency: CAD · security: PPSA financing statement registered June 22, 2018 - inventory, equipment, accounts, other, motor vehicle included (freightliners)
- secured creditorsnote: Amount owing not stated in document · page: 5 · as of: 2024-03-31 · debtor: National Traffic Safety Management Inc. · creditor: Mercedes-Benz Financial Services Canada Corporation · currency: CAD · security: PPSA financing statement registered July 5, 2019 - equipment, other, motor vehicle included
- secured creditorsnote: Non-arms length party; also provided Interim DIP Loan facility of $150,000 · page: 5 · as of: 2024-03-31 · amount: 807000 · debtor: National Traffic Safety Management Inc. · creditor: J9 Investments Ltd. · currency: CAD · security: PPSA financing statement registered July 23, 2020 - inventory, equipment, accounts, other, motor vehicle included
- secured creditorsnote: HASCAP loan · page: 5 · as of: 2024-03-31 · amount: 199000 · debtor: National Traffic Safety Management Inc. · creditor: Royal Bank of Canada · currency: CAD · security: PPSA financing statement registered May 6, 2021 - inventory, equipment, accounts, other, motor vehicle included
- secured creditorsnote: Individual/personal creditor; also owed approximately $77,000 in unsecured debt · page: 5 · as of: 2024-03-31 · amount: 200000 · debtor: National Traffic Safety Management Inc. · creditor: Betty Copeland · currency: CAD · security: PPSA financing statement registered April 17, 2023 - inventory, equipment, accounts, other, motor vehicle included
- secured creditorspage: 5 · as of: 2024-03-31 · amount: 335000 · debtor: National Traffic Safety Management Inc. · creditor: 1555207 Ontario Inc. · currency: CAD · security: PPSA financing statement registered February 7, 2022 - inventory, equipment, accounts, other, motor vehicle included
- unsecured creditorsnote: Approximate amount; same individual also holds a $200,000 secured PPSA registration · page: 5 · as of: 2024-03-31 · basis: As reported in Proposal Trustee's First Report · amount: 77000 · debtor: National Traffic Safety Management Inc. · creditor: Betty Copeland · currency: CAD
- secured creditorsnote: Non-arms length party and existing creditor providing post-filing Interim DIP Loan (super-priority DIP facility, $150,000 max principal, subject to Court approval) · page: 6 · as of: Interim Financing Order / Interim DIP Loan · amount: 150000 · debtor: National Traffic Safety Management Inc. · creditor: J9 Investments Inc. · currency: CAD · security: Interim Financing Charge over all present and future real and personal, tangible and intangible properties, assets and undertakings of the Borrower; proposed to rank in priority to all encumbrances