Ontario · NOI
Creditors package.May 15 2013.TRIPPLE
Meeting materials · 15 May 2013
A plain-language read of this filing opens with a subscription.
What we verified from this filing7 verified
- financial positionnote: SOA reports resulting deficiency of $460,512.38; secured creditors per List 'B' total $0.00 (no secured creditors listed); preferred creditors per List 'C' total $0.00. · page: 8 · as at: 2013-05-08 · basis: Statement of Affairs (Form 78) as stated and estimated by the officer, sworn by Jennifer Anita Potter; not audited or verified by the Trustee · scope: Triple Starr Staffing Inc. (single entity) · currency: CAD · total assets: 62973 · total liabilities: 523485.38
- unsecured creditorsnote: For accounting services · page: 9 · as of: 2013-05-08 · basis: Statement of Affairs, List 'A' Unsecured Creditors, as reported by the officer · amount: 587.6 · debtor: Triple Starr Staffing Inc. · creditor: SSP Consulting · currency: CAD
- unsecured creditorspage: 9 · as of: 2013-05-08 · basis: Statement of Affairs, List 'A' Unsecured Creditors, as reported by the officer · amount: 209566.03 · debtor: Triple Starr Staffing Inc. · creditor: CRA - Canada Revenue Agency (unremitted HST) · currency: CAD
- unsecured creditorspage: 9 · as of: 2013-05-08 · basis: Statement of Affairs, List 'A' Unsecured Creditors, as reported by the officer · amount: 2423.39 · debtor: Triple Starr Staffing Inc. · creditor: Workplace Safety and Insurance Board · currency: CAD
- unsecured creditorsnote: Deemed trust class claim; currently under examination by CRA and subject to change per Trustee's report · page: 12 · as of: 2013-05-08 · basis: Statement of Affairs, List 'D' Contingent, trust claims or other liabilities, as reported by the officer · amount: 310908.36 · debtor: Triple Starr Staffing Inc. · creditor: CRA - Canada Revenue Agency (Deemed Trust Claim - unremitted employee source deductions) · currency: CAD
- recovery outcomeentries: basis: liquidation_alternative · quote: As set out above, the Trustee anticipates that in the event of a bankruptcy of the Company, the Canada Revenue Agency will suffer a significant deficiency on its deemed trust claim, and the Company's unsecured creditors will not receive payment of its claims. · pct of: unstated · outcome: shortfall · class key: deemed_trust · stated by: trustee · class label: Canada Revenue Agency (deemed trust) · creditor name: Canada Revenue Agency · interim final: unstated · claims qualifier: unstated · shortfall amount: 276672; basis: liquidation_alternative · quote: In the event of Triples's bankruptcy and a forced shut down of the Company's operations, it is unlikely that there will be a distribution to the unsecured creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: unsecured creditors · claims amount: 212577.02 · interim final: unstated · claims qualifier: listed; basis: plan · quote: Pursuant to the terms of the Proposal, the Company anticipates payment in full of the Deemed Trust claim of the Canada Revenue Agency and a distribution of the Proposal Fund to the Unsecured Creditors with proven Claims. · pct of: unstated · outcome: paid_in_full · pct low: 100 · pct high: 100 · class key: deemed_trust · stated by: trustee · class label: Canada Revenue Agency (deemed trust) · creditor name: Canada Revenue Agency · interim final: unstated · conditional on: The Company is offering to pay the Deemed Trust due to the Canada Revenue Agency, in monthly instalments of $7,000, until the debt is paid. · claims qualifier: unstated; basis: plan · quote: The Company is also offering to pay the unsecured creditors a sum of $15,000 ("Proposal Fund"), paid in thirty consecutive monthly payments of $500, commencing in the month following Final Approval. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: trustee · amount low: 15000 · amount high: 15000 · class label: Unsecured Creditors · claims amount: 212577.02 · interim final: unstated · conditional on: paid in thirty consecutive monthly payments of $500, commencing in the month following Final Approval · claims qualifier: listed · stated on: 2013-05-15 · table missing:
- secured creditors