Ontario · Receivership (court-appointed)
Motion Record - Receiver
Application / notice of application · 9 October 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 filing8 verified
- financial positionnote: No balance sheet stated. Receiver reports a deemed trust claim of $29,708.13 and potential unsecured claims in the cumulative amount of $582,348.91 (Receiver's own total, stated at para. 28); there may be additional unknown unsecured claims. Cash receipts $2,108,555 and cash disbursements $1,782,461 per the Interim R&D. · page: 30 · basis: Receiver's Second Report: priority and secured creditors satisfied in full by the Approved Interim Distribution of $1,516,476 (cumulative); as of September 14, 2026 surplus realizations total $326,093. Receiver relied on unaudited information and the Debtor's books and records. · scope: Better Image Collision Inc. only · currency: CAD
- unsecured creditorsnote: Deemed trust (quasi-governmental) claim, ranks ahead of ordinary unsecured creditors; not an unsecured claim in the ordinary sense. Claim letters at Appendix G. · page: 30 · basis: Further deemed trust claim advanced by CRA after completion of the Approved Interim Distribution; Receiver intends to fund it out of the surplus · amount: 29708.13 · debtor: Better Image Collision Inc. · creditor: Canada Revenue Agency (CRA) - deemed trust claim (unremitted payroll) · currency: CAD
- unsecured creditorsnote: Combination of unremitted payroll obligations and GST/HST; claims advanced by CRA, not adjudicated. · page: 30 · basis: CRA advanced further unsecured claims, cumulative amount, post completion of the Approved Interim Distribution · amount: 221844.99 · debtor: Better Image Collision Inc. · creditor: Canada Revenue Agency (CRA) - unsecured claims (unremitted payroll and GST/HST) · currency: CAD
- unsecured creditorsnote: Related party (family member of principal Josh Kazdan). Originally described as approximately $250,000; Receiver views the valid claim as $247,565.63. · page: 30 · basis: Alleged unsecured loan made by a family member of the Debtor's principal; the Receiver is of the view it forms a valid unsecured claim, supported by sworn Affidavits (Appendix H) · amount: 247565.63 · debtor: Better Image Collision Inc. · creditor: Petrecca family member (Petrecca Loan) · currency: CAD
- unsecured creditorsnote: Floor: 'at least'. Individual creditors are in the Appendix I schedule, not on these pages. There may be additional unsecured claims of which the Receiver is not aware. · page: 30 · basis: Books and records of the Debtor indicate there may be additional unsecured claims of at least $52,938.29; supporting creditor schedule at Appendix I · amount: 52938.29 · debtor: Better Image Collision Inc. · creditor: Unsecured trade and other creditors per Debtor's books and records (aggregate) · currency: CAD
- unsecured creditorsnote: Current balance is presently unknown; $60,000 is the amount originally granted, not a balance. · page: 30 · basis: Receiver is aware of a prior CEBA loan granted to the Debtor in the amount of $60,000 · debtor: Better Image Collision Inc. · creditor: CEBA loan lender (Canada Emergency Business Account) · currency: CAD
- recovery outcomeentries: basis: actual · quote: Completed the Approved Interim Distribution to priority and secured creditors, in the cumulative amount of $1,516,476, which satisfied the respective claims in full; · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: receiver · amount low: 1516476 · cumulative: true · amount high: 1516476 · class label: priority and secured creditors · interim final: interim · claims qualifier: unstated · stated on: 2026-10-07 · table missing:
- secured creditors