Ontario · Bankruptcy
Trustee’s Preliminary Report to Creditors
Court officer report · 27 May 2021
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What we verified from this filing8 verified
- appointeeA. Farber & Partners Inc.
- appointee roleLicensed Trustee
- commencement date27 May 2021
- proceeding typebia_bankruptcy
- provinceONTARIO
- secured creditorsnote: Statement of Affairs reported $187,381.11; filed claim amount used as amount. Legal opinion on validity of security pending; anticipated shortfall to secured creditor expected. Individual named as secured creditor (relationship to debtor not stated). · page: 2 · as of: Filed with Trustee · amount: 173895.07 · debtor: 2104678 Ontario Inc. (aka Yorkdale Hardwood Flooring Centre) · creditor: Melvin Reid · currency: CAD · security: Security over all Company property (Property encumbered in favour of secured creditor); subordination agreement provided to allow Trustee to retain funds for basic administration
- unsecured creditorsnote: Statement of Affairs reported $344,458.54 as unsecured claims (prose/SOA figure); document names no individual creditors. Preferred claims listed as nil ("-") in both SOA and filed columns. · page: 2 · as of: Filed with Trustee · basis: Provable Claims table - Filed with Trustee · amount: 171220.17 · debtor: 2104678 Ontario Inc. (aka Yorkdale Hardwood Flooring Centre) · creditor: Unsecured creditors (aggregate as reported) · currency: CAD
- recovery outcomeentries: basis: estimated · quote: Subject to the receipt of the legal opinion regarding the validity of their security, it is anticipated that the secured creditor will suffer a shortfall. · pct of: unstated · outcome: shortfall · class key: secured · stated by: trustee · class label: secured creditor · creditor name: Melvin Reid · interim final: unstated · conditional on: Subject to the receipt of the legal opinion regarding the validity of their security · claims qualifier: unstated; basis: estimated · quote: Accordingly, no surplus funds are expected to be available for distribution to preferred or unsecured creditors. · pct of: unstated · outcome: nil · class key: preferred · stated by: trustee · class label: preferred or unsecured creditors · interim final: unstated · claims qualifier: unstated · stated on: 2021-06-10 · table missing: