Alberta · Proposal
Notice to Creditors Package - Division I Proposal
Notice to creditors · 13 August 2025
What we verified from this filing23 verified
- commencement date6 August 2025
- provinceAlberta
- appointeeGrant Thornton Limited
- appointee roleLicensed Insolvency Trustee
- statutory basisSection 51 of the Act
- unsecured creditorsnote: Deemed trust class; one of three CRA line items on this list · page: 4 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 1088818.64 · debtor: Bayer Systems Ltd. · creditor: CRA - Tax - Prairies (Account 83668 1148 RP0001) · currency: CAD
- unsecured creditorsnote: Deemed trust class; one of three CRA line items on this list · page: 4 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 51444.28 · debtor: Bayer Systems Ltd. · creditor: CRA - Tax - Prairies (Account 83668 1148 RT0001) · currency: CAD
- unsecured creditorsnote: Deemed trust class; one of three CRA line items on this list · page: 4 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 2963.18 · debtor: Bayer Systems Ltd. · creditor: CRA - Tax - Prairies (Account 83668 1148 RC0001) · currency: CAD
- unsecured creditorspage: 4 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 97023.16 · debtor: Bayer Systems Ltd. · creditor: Deep Electrical Supplies Ltd. (Gurpreet Deep) · currency: CAD
- unsecured creditorspage: 4 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 15870 · debtor: Bayer Systems Ltd. · creditor: Merchant Growth · currency: CAD
- unsecured creditorspage: 4 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 39579 · debtor: Bayer Systems Ltd. · creditor: Sheaves Capital · currency: CAD
- unsecured creditorspage: 4 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 17972.02 · debtor: Bayer Systems Ltd. · creditor: Vista Electrical Products (Jarrod) · currency: CAD
- unsecured creditorspage: 4 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 8306.69 · debtor: Bayer Systems Ltd. · creditor: Volt Auto Pro · currency: CAD
- unsecured creditorspage: 4 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 180309.87 · debtor: Bayer Systems Ltd. · creditor: Walectric Industries Inc. (Mike K.) · currency: CAD
- unsecured creditorspage: 4 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 123962.59 · debtor: Bayer Systems Ltd. · creditor: Westburne West (Division of Rexel Canada Electrical Inc.) (Mark Isabella) · currency: CAD
- unsecured creditorspage: 4 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 19173 · debtor: Bayer Systems Ltd. · creditor: CanaCap · currency: CAD
- unsecured creditorspage: 4 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 35181.82 · debtor: Bayer Systems Ltd. · creditor: Best Electrical Supply (Gurgeet Singh) · currency: CAD
- courtCOURT OF KING'S BENCH OF ALBERTA IN BANKRUPTCY AND INSOLVENCY
- court file no24-3244368
- financial positionnote: Assets estimated book values as at July 31, 2025 (page 19); liabilities as at Initial Filing Date / August 6, 2025 (pages 19-20) - different as-at dates for the two sides. Liabilities comprise CRA (Deemed Trust) $444,728 and Unsecured Creditors $1,235,878. · page: 19 · basis: unaudited financial information provided by Company management · scope: Bayer Systems Ltd. (entity level) · currency: CAD · total assets: 444728 · total liabilities: 1680605
- unsecured creditorsnote: Aggregate figure from trustee's report; itemized listing on the separate List of Creditors ($250+ claims, page 4) totals $1,680,604.25 which includes CRA claims and does not match this unsecured-only figure · page: 20 · as of: 2025-08-06 · basis: Company disclosed liabilities as at August 6, 2025 · amount: 1235878 · debtor: Bayer Systems Ltd. · creditor: Unsecured creditors (aggregate as reported) · currency: CAD
- unsecured creditorsnote: Deemed trust class (Certain Crown Claims); ranks ahead of ordinary unsecured per Proposal terms · page: 20 · as of: 2025-08-06 · basis: Company disclosed liabilities as at August 6, 2025 · amount: 444728 · debtor: Bayer Systems Ltd. · creditor: CRA (Deemed Trust) · currency: CAD
- recovery outcomeentries: basis: liquidation_alternative · quote: As it appears that there will be insufficient assets available in a bankruptcy to pay the deemed trust claim, it is anticipated there will be no distribution to the Unsecured Creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: proposal_trustee · class label: Unsecured Creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: In the Proposal, Unsecured Creditors are estimated to receive a dividend of 23% of their total claim. · pct of: unstated · outcome: distribution · pct low: 23 · pct high: 23 · class key: unsecured · stated by: proposal_trustee · class label: Unsecured Creditors · interim final: unstated · claims qualifier: unstated · stated on: 2025-08-13 · table missing: