British Columbia · NOI
Notice of Proposal to Creditors dated November 6, 2023
Notice to creditors · 6 November 2023
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 filing13 verified
- unsecured creditorspage: 4 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 46822.26 · debtor: En Route 24/7 Logistics Inc. · creditor: ThinkFleet Management · currency: CAD
- unsecured creditorspage: 4 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 250 · debtor: En Route 24/7 Logistics Inc. · creditor: Worksafe BC · currency: CAD
- unsecured creditorsnote: Address listed in San Leandro, CA, USA; currency not explicitly stated but likely USD given US address · page: 4 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 19311.24 · debtor: En Route 24/7 Logistics Inc. · creditor: Web to Door Corp · currency: USD
- unsecured creditorspage: 4 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 107717.27 · debtor: En Route 24/7 Logistics Inc. · creditor: CRA - RC · currency: CAD
- unsecured creditorspage: 4 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 250 · debtor: En Route 24/7 Logistics Inc. · creditor: CRA - RP · currency: CAD
- unsecured creditorsnote: For purposes of the Proposal this GST claim is included in the 'Crown Claims' class, not ordinary unsecured creditors; deemed trust claim under subsection 224(1.2) of Income Tax Act · page: 4 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 447196.55 · debtor: En Route 24/7 Logistics Inc. · creditor: CRA - RT (GST) · currency: CAD
- unsecured creditorspage: 4 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 250 · debtor: En Route 24/7 Logistics Inc. · creditor: Engaged HR Inc. · currency: CAD
- unsecured creditorsnote: Later confirmed as a secured creditor (AllPAAP registration) per Proposal Trustee's Report; regulatory EHT claim · page: 4 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 50134.29 · debtor: En Route 24/7 Logistics Inc. · creditor: Ministry of Finance - EHT · currency: CAD
- unsecured creditorspage: 4 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 60000 · debtor: En Route 24/7 Logistics Inc. · creditor: Scotiabank c/o Canaccede International Management Ltd. · currency: CAD
- financial positionnote: As at November 3, 2023, per Statement of Affairs, the Company was indebted to eight (8) unsecured creditors totaling $681,797.32; for purposes of the Proposal, GST claim is reclassified into Crown Claims, leaving unsecured creditors totaling $184,466.48; secured creditors totaled approximately $50,134.29 (MOF) as of date of Report; separate summary of assets as at November 3, 2023 shows book cost of $972,685.08 with estimated realizable value of only $248,719.08 in a bankruptcy/liquidation scenario · page: 10 · as at: 2022-12-31 · basis: Company's balance sheet as prepared by Management (unaudited) · scope: entity - En Route 24/7 Logistics Inc. · currency: CAD · total assets: 859197 · total liabilities: 834196
- secured creditorsnote: Contingent claim included for conservative purposes only if bankruptcy occurs under Wage Earner Protection Program Act; 107 employees; not a current existing claim as Company is current on payroll · page: 12 · as of: Proposal Trustee's Statement of Estimated Realization · amount: 214000 · debtor: En Route 24/7 Logistics Inc. · creditor: Employment and Social Development Canada / Service Canada · currency: CAD · security: Subrogated secured claim against current assets (cash and accounts receivable) pursuant to Section 81.3 of the BIA for wages/vacation paid, to a maximum of $2,000 per employee
- secured creditorsnote: Management advised current on lease payments, so no balance owing; existence of security registration noted · page: 12 · as of: date of Report (November 9, 2023) · amount: 0 · debtor: En Route 24/7 Logistics Inc. · creditor: LPCA Fleet Management Ltd. · currency: CAD · security: Specific security against Vehicles (approx. 42) including all attachments, accessories, and other related items; vehicles subject to a true lease per legal opinion
- secured creditorsnote: Relates to unpaid EHT amounts for calendar year ending December 31, 2022; claim included within 'Crown Claims' class under the Proposal; regulatory · page: 16 · as of: date of Report (November 9, 2023) · amount: 50134.29 · debtor: En Route 24/7 Logistics Inc. · creditor: British Columbia Ministry of Finance (MOF) - EHT · currency: CAD · security: First-in-time registered security against all present and after-acquired property (AllPAAP) per PPR registration