Ontario · Bankruptcy

Notice of Bankruptcy and first meeting of creditors dated Nov 20, 2012

Notice to creditors · 20 November 2012

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financial positionnote: Deficiency of $1,822,602.24 stated on the face of the Statement of Affairs. Total liabilities comprise: total unsecured creditors $1,863,877.32 (List "A" unsecured claims $1,098,368.92 plus balance of secured claims per List "B" $765,508.40), secured creditors per List "B" $66,135.60, preferred creditors per List "C" $8,724.92, and contingent/other liabilities $0.00. · page: 5 · as at: 2012-11-19 · basis: Statement of Affairs (Form 78) - as stated and estimated by the officer (Bradley Neal), not audited · scope: Ontario Insurance Brokers Ltd. (single entity, non-consolidated) · currency: CAD · total assets: 116135.6 · total liabilities: 1938737.84
unsecured creditorsnote: Ontario provincial tax authority claim (PST/EHT). · page: 6 · as of: 2012-11-19 · basis: Statement of Affairs (List "A") as stated and estimated by the officer · amount: 1 · debtor: Ontario Insurance Brokers Ltd. · creditor: Ministry of Finance - ON PST, EHT & Other Taxes · currency: CAD
unsecured creditorspage: 6 · as of: 2012-11-19 · basis: Statement of Affairs (List "A") as stated and estimated by the officer · amount: 44.15 · debtor: Ontario Insurance Brokers Ltd. · creditor: Colonial Coffee Co. Ltd. · currency: CAD
unsecured creditorspage: 6 · as of: 2012-11-19 · basis: Statement of Affairs (List "A") as stated and estimated by the officer · amount: 739.41 · debtor: Ontario Insurance Brokers Ltd. · creditor: Compuqouote · currency: CAD
unsecured creditorspage: 6 · as of: 2012-11-19 · basis: Statement of Affairs (List "A") as stated and estimated by the officer · amount: 344.82 · debtor: Ontario Insurance Brokers Ltd. · creditor: Corporate Express Canada Inc. · currency: CAD
unsecured creditorspage: 6 · as of: 2012-11-19 · basis: Statement of Affairs (List "A") as stated and estimated by the officer · amount: 25 · debtor: Ontario Insurance Brokers Ltd. · creditor: Crawford & Company (Canada) Inc. · currency: CAD
unsecured creditorspage: 6 · as of: 2012-11-19 · basis: Statement of Affairs (List "A") as stated and estimated by the officer · amount: 55264.79 · debtor: Ontario Insurance Brokers Ltd. · creditor: Dalton Timmis Insurance · currency: CAD
unsecured creditorspage: 6 · as of: 2012-11-19 · basis: Statement of Affairs (List "A") as stated and estimated by the officer · amount: 9661.5 · debtor: Ontario Insurance Brokers Ltd. · creditor: Doher & Co. Chartered Accountants · currency: CAD
unsecured creditorspage: 6 · as of: 2012-11-19 · basis: Statement of Affairs (List "A") as stated and estimated by the officer · amount: 430.7 · debtor: Ontario Insurance Brokers Ltd. · creditor: Entegrus Services Inc · currency: CAD
unsecured creditorspage: 6 · as of: 2012-11-19 · basis: Statement of Affairs (List "A") as stated and estimated by the officer · amount: 273.91 · debtor: Ontario Insurance Brokers Ltd. · creditor: Enwin Utilities Ltd. · currency: CAD
unsecured creditorspage: 6 · as of: 2012-11-19 · basis: Statement of Affairs (List "A") as stated and estimated by the officer · amount: 5000 · debtor: Ontario Insurance Brokers Ltd. · creditor: Fasken Martineau · currency: CAD
unsecured creditorspage: 6 · as of: 2012-11-19 · basis: Statement of Affairs (List "A") as stated and estimated by the officer · amount: 1 · debtor: Ontario Insurance Brokers Ltd. · creditor: Gore Mutual Insurance Company · currency: CAD
unsecured creditorspage: 6 · as of: 2012-11-19 · basis: Statement of Affairs (List "A") as stated and estimated by the officer · amount: 96.64 · debtor: Ontario Insurance Brokers Ltd. · creditor: ICS Courier · currency: CAD
unsecured creditorspage: 6 · as of: 2012-11-19 · basis: Statement of Affairs (List "A") as stated and estimated by the officer · amount: 293.9 · debtor: Ontario Insurance Brokers Ltd. · creditor: JaniKing · currency: CAD
unsecured creditorsnote: Unsecured deficiency after security realization on total claim of $692,225.00 (see secured creditor entry); possible related-party/director claim (same address/contact as Shillington Insurance Brokers Inc.). · page: 6 · as of: 2012-11-19 · basis: Statement of Affairs (List "A") as stated and estimated by the officer · amount: 630049.4 · debtor: Ontario Insurance Brokers Ltd. · creditor: Michael V Burke · currency: CAD
unsecured creditorspage: 6 · as of: 2012-11-19 · basis: Statement of Affairs (List "A") as stated and estimated by the officer · amount: 105000 · debtor: Ontario Insurance Brokers Ltd. · creditor: Norm Kelk · currency: CAD
unsecured creditorspage: 6 · as of: 2012-11-19 · basis: Statement of Affairs (List "A") as stated and estimated by the officer · amount: 241.38 · debtor: Ontario Insurance Brokers Ltd. · creditor: Pitney Bowes Canada Ltd. · currency: CAD
unsecured creditorspage: 6 · as of: 2012-11-19 · basis: Statement of Affairs (List "A") as stated and estimated by the officer · amount: 982.33 · debtor: Ontario Insurance Brokers Ltd. · creditor: Policy Works · currency: CAD
unsecured creditorspage: 6 · as of: 2012-11-19 · basis: Statement of Affairs (List "A") as stated and estimated by the officer · amount: 14836.9 · debtor: Ontario Insurance Brokers Ltd. · creditor: PwC Management Services LP · currency: CAD
unsecured creditorspage: 6 · as of: 2012-11-19 · basis: Statement of Affairs (List "A") as stated and estimated by the officer · amount: 174000 · debtor: Ontario Insurance Brokers Ltd. · creditor: Alexander Billyard · currency: CAD
unsecured creditorspage: 6 · as of: 2012-11-19 · basis: Statement of Affairs (List "A") as stated and estimated by the officer · amount: 160 · debtor: Ontario Insurance Brokers Ltd. · creditor: Billyard Insurance Co. Ltd. · currency: CAD
unsecured creditorspage: 6 · as of: 2012-11-19 · basis: Statement of Affairs (List "A") as stated and estimated by the officer · amount: 105000 · debtor: Ontario Insurance Brokers Ltd. · creditor: Brian Spooner · currency: CAD
unsecured creditorspage: 6 · as of: 2012-11-19 · basis: Statement of Affairs (List "A") as stated and estimated by the officer · amount: 105000 · debtor: Ontario Insurance Brokers Ltd. · creditor: Bruce Vince · currency: CAD
unsecured creditorsnote: Distinct from this creditor's separate preferred WEPP claim of $2,000.00 (List "C"). · page: 7 · as of: 2012-11-19 · basis: Statement of Affairs (List "A") as stated and estimated by the officer · amount: 6862.8 · debtor: Ontario Insurance Brokers Ltd. · creditor: Shawn Stephens · currency: CAD
unsecured creditorsnote: Security valued at $0.00 per List "B"; entire claim shown as unsecured balance. · page: 7 · as of: 2012-11-19 · basis: Statement of Affairs (List "A") as stated and estimated by the officer · amount: 135459 · debtor: Ontario Insurance Brokers Ltd. · creditor: Shillington Insurance Brokers Inc. · currency: CAD
unsecured creditorspage: 7 · as of: 2012-11-19 · basis: Statement of Affairs (List "A") as stated and estimated by the officer · amount: 122.97 · debtor: Ontario Insurance Brokers Ltd. · creditor: Shred-It · currency: CAD
unsecured creditorspage: 7 · as of: 2012-11-19 · basis: Statement of Affairs (List "A") as stated and estimated by the officer · amount: 1 · debtor: Ontario Insurance Brokers Ltd. · creditor: Union Gas · currency: CAD
unsecured creditorsnote: Distinct from this creditor's separate preferred WEPP claim of $2,000.00 (List "C"). · page: 7 · as of: 2012-11-19 · basis: Statement of Affairs (List "A") as stated and estimated by the officer · amount: 1041.5 · debtor: Ontario Insurance Brokers Ltd. · creditor: Tim Hodgson · currency: CAD
unsecured creditorspage: 7 · as of: 2012-11-19 · basis: Statement of Affairs (List "A") as stated and estimated by the officer · amount: 353026.63 · debtor: Ontario Insurance Brokers Ltd. · creditor: Sullivan Mahoney LLP - St. Catharines · currency: CAD
unsecured creditorspage: 7 · as of: 2012-11-19 · basis: Statement of Affairs (List "A") as stated and estimated by the officer · amount: 155411 · debtor: Ontario Insurance Brokers Ltd. · creditor: WFT Corporate Finance & Valuations Ltd. · currency: CAD
unsecured creditorspage: 7 · as of: 2012-11-19 · basis: Statement of Affairs (List "A") as stated and estimated by the officer · amount: 1 · debtor: Ontario Insurance Brokers Ltd. · creditor: RBC Royal Bank Visa · currency: CAD
unsecured creditorspage: 7 · as of: 2012-11-19 · basis: Statement of Affairs (List "A") as stated and estimated by the officer · amount: 4504.59 · debtor: Ontario Insurance Brokers Ltd. · creditor: Rio Can Holdings Inc. · currency: CAD
secured creditorsnote: Claim bifurcated: security valued at $0.00 so entire $135,459.00 claim shown as unsecured balance per List "B"; also repeated as List "A" unsecured creditor #26. · page: 8 · as of: 2012-11-19 · amount: 135459 · debtor: Ontario Insurance Brokers Ltd. · creditor: Shillington Insurance Brokers Inc. · currency: CAD · security: Cash on Hand - Chequing; Cash on Hand - Operating; Debts Due - Business Collected Premiums; Debts Due - Business Uncollected Premiums - all estimated value of security $0.00 (given 01-Mar-2007 / 03-Jan-2007)
secured creditorsnote: Fully secured per List "B"; no unsecured balance shown. · page: 8 · as of: 2012-11-19 · amount: 3960 · debtor: Ontario Insurance Brokers Ltd. · creditor: 957950 Ontario Inc. o/a Global Leasing · currency: CAD · security: Business Assets - Machinery - Ricoh Aficio MP 201SPF Photocopier, security given 13-Sep-2011
secured creditorsnote: Claim of $692,225.00 bifurcated by security valuation: estimated value of security realized against this + item 1 totals $66,135.60 per List "B" total row; unsecured balance of $630,049.40 shown in List "B" and repeated as List "A" unsecured creditor #17. Same address/contact (c/o McKenzie Lake Laywers LLP, Attn John H. McNair) as Shillington Insurance Brokers Inc., suggesting a related-party/director claim (Form 31 also provides a 'Claim Against Director' category). · page: 8 · as of: 2012-11-19 · amount: 692225 · debtor: Ontario Insurance Brokers Ltd. · creditor: Michael V Burke · currency: CAD · security: Cash on Hand - Chequing (RBC a/c 079221053032) $10,000.00; Cash on Hand - Operating (RBC a/c 079221006121) $15,675.60; Debts Due - Business - Commissions on Collected Premiums $6,500.00; Debts Due - Business - Commissions on Uncollected Premiums $30,000.00; all security given 01-Mar-2007
unsecured creditorsnote: Preferred claim (WEPP); distinct from this creditor's separate ordinary unsecured claim of $1,041.50 (List "A"). · page: 9 · as of: 2012-11-19 · basis: Statement of Affairs (List "C") - Preferred Creditors for Wages, Rent, etc., as stated and estimated by the officer · amount: 2000 · debtor: Ontario Insurance Brokers Ltd. · creditor: Tim Hodgson · currency: CAD
unsecured creditorsnote: Preferred claim (WEPP); distinct from this creditor's separate ordinary unsecured claim of $6,862.80 (List "A"). · page: 9 · as of: 2012-11-19 · basis: Statement of Affairs (List "C") - Preferred Creditors for Wages, Rent, etc., as stated and estimated by the officer · amount: 2000 · debtor: Ontario Insurance Brokers Ltd. · creditor: Shawn Stephens · currency: CAD
unsecured creditorsnote: Preferred claim (WEPP); ranks ahead of ordinary unsecured. · page: 9 · as of: 2012-11-19 · basis: Statement of Affairs (List "C") - Preferred Creditors for Wages, Rent, etc., as stated and estimated by the officer · amount: 1296.84 · debtor: Ontario Insurance Brokers Ltd. · creditor: Ryan Bennett · currency: CAD
unsecured creditorsnote: Preferred claim (WEPP); ranks ahead of ordinary unsecured. · page: 9 · as of: 2012-11-19 · basis: Statement of Affairs (List "C") - Preferred Creditors for Wages, Rent, etc., as stated and estimated by the officer · amount: 1683.07 · debtor: Ontario Insurance Brokers Ltd. · creditor: Bruce Casler · currency: CAD
unsecured creditorsnote: Preferred claim (WEPP); ranks ahead of ordinary unsecured. · page: 9 · as of: 2012-11-19 · basis: Statement of Affairs (List "C") - Preferred Creditors for Wages, Rent, etc., as stated and estimated by the officer · amount: 1745.01 · debtor: Ontario Insurance Brokers Ltd. · creditor: Brad Campbell · currency: CAD