Nova Scotia · Proposal

Creditors Package

Meeting materials · 30 July 2026

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appointeeMNP Ltd.
appointee roleLicensed Insolvency Trustee
court file no51-3404230
statutory basisSection 51 of the Act
unsecured creditorsnote: Attention: Natalia Bottazzi · page: 3 · basis: Form 92 List of Creditors with claims of $250 or more · amount: 250 · debtor: Ardoise Mechanical Inc. · creditor: Nova Scotia Power Inc. · currency: CAD
unsecured creditorspage: 3 · basis: Form 92 List of Creditors with claims of $250 or more · amount: 250 · debtor: Ardoise Mechanical Inc. · creditor: OK Tire Stores Inc. · currency: CAD
unsecured creditorsnote: Distinct listing from TD Bank unsecured claim summarized in Trustee's Report; document does not reconcile these two TD-related figures · page: 3 · basis: Form 92 List of Creditors with claims of $250 or more · amount: 7000 · debtor: Ardoise Mechanical Inc. · creditor: TD Canada Trust C/O FCT Default Solutions · currency: CAD
unsecured creditorspage: 3 · basis: Form 92 List of Creditors with claims of $250 or more · amount: 250 · debtor: Ardoise Mechanical Inc. · creditor: Eastlink Accounts Receivable Department · currency: CAD
unsecured creditorspage: 3 · basis: Form 92 List of Creditors with claims of $250 or more · amount: 250 · debtor: Ardoise Mechanical Inc. · creditor: Fitch Violande Barristers & Solicitors · currency: CAD
unsecured creditorspage: 3 · basis: Form 92 List of Creditors with claims of $250 or more · amount: 250 · debtor: Ardoise Mechanical Inc. · creditor: Napa Auto Parts · currency: CAD
unsecured creditorsnote: Component of CRA claim; differs from CRA Debt Summary in Trustee's Report (HST $79,922.83) · page: 3 · basis: Form 92 List of Creditors with claims of $250 or more · amount: 80000 · debtor: Ardoise Mechanical Inc. · creditor: CRA - Tax - Atlantic (Account 763437134RT0001) · currency: CAD
unsecured creditorsnote: Component of CRA claim; corresponds approximately to Corporate Tax figure in Trustee's Report · page: 3 · basis: Form 92 List of Creditors with claims of $250 or more · amount: 28038 · debtor: Ardoise Mechanical Inc. · creditor: CRA - Tax - Atlantic (Account 763437134RC0001) · currency: CAD
unsecured creditorsnote: Likely corresponds to CRA Source Deduction/Deemed Trust Claim referenced in Trustee's Report · page: 3 · basis: Form 92 List of Creditors with claims of $250 or more · amount: 20000 · debtor: Ardoise Mechanical Inc. · creditor: CRA - Tax - Atlantic (Account 763437134RP0001) · currency: CAD
unsecured creditorsnote: Component of CRA claim; corresponds approximately to Carbon Tax figure in Trustee's Report ($27,003.31) · page: 3 · basis: Form 92 List of Creditors with claims of $250 or more · amount: 27003 · debtor: Ardoise Mechanical Inc. · creditor: CRA - Tax - Atlantic (Account 763437134 CCR) · currency: CAD
commencement date28 July 2026
courtIN THE SUPREME COURT OF NOVA SCOTIA IN BANKRUPTCY & INSOLVENCY
financial positionnote: Document states cash balance of approximately $25,000 as of July 23, 2026, and equipment book value of $42,000 per SOA (approx. 75% of fair market value per April 22, 2026 appraisal); no consolidated total assets/liabilities figure stated on these pages. Company reported no secured creditors ('The Company reported that none of its creditors have registered security against the Company'), confirmed by Trustee's PPSA search. · page: 6 · basis: Statement of Affairs (SOA) provided by Management; unaudited/draft internal financial information · scope: Ardoise Mechanical Inc. (single entity) · currency: CAD
unsecured creditorsnote: Deemed trust claim for unremitted payroll source deductions; to be paid in full in priority to Unsecured Creditors, ahead of ordinary unsecured claims; estimate only, actual amount may vary · page: 7 · as of: date of filing the Proposal · basis: Trustee's estimate pursuant to section 60(1.1) of the BIA · amount: 20000 · debtor: Ardoise Mechanical Inc. · creditor: Canada Revenue Agency (Source Deduction / Deemed Trust Claim) · currency: CAD
unsecured creditorsnote: Comprises HST $79,922.83, Carbon Tax $27,003.31, Corporate Tax $28,172.29; separate from CRA's Source Deduction/deemed trust claim of approx. $20,000 · page: 8 · as of: date of CRA statements received by Trustee · basis: CRA statements received by Trustee, summarized in Trustee's Report · amount: 135098.43 · debtor: Ardoise Mechanical Inc. · creditor: Canada Revenue Agency (HST, Carbon Tax, Corporate Tax) · currency: CAD
unsecured creditorspage: 8 · basis: Estimated unsecured claim for unpaid accounting and tax preparation services as reported by Trustee · amount: 4500 · debtor: Ardoise Mechanical Inc. · creditor: AMC Chartered Professional Accountants Inc. · currency: CAD
unsecured creditorsnote: Comprises unsecured loan $6,588.11 and credit card $500.00; prose approximation elsewhere states $7,088 · page: 8 · as of: date of statement received by Trustee · basis: Statement received by Trustee from TD Bank, summarized in Trustee's Report · amount: 7088.11 · debtor: Ardoise Mechanical Inc. · creditor: Toronto Dominion Bank (TD Bank) · currency: CAD
recovery outcomeentries: basis: plan · quote: The Unsecured Creditors are expected to receive approximately 9% of their claims under the Proposal. · pct of: unstated · outcome: distribution · pct low: 9 · pct high: 9 · class key: unsecured · stated by: proposal_trustee · class label: Unsecured Creditors · claims amount: 155291 · interim final: unstated · claims qualifier: estimated; basis: liquidation_alternative · quote: There is no reasonable expectation of any recovery for Unsecured Creditors under a bankruptcy scenario as the net asset realizations are not expected to fully repay the CRA's deemed trust claim for unpaid payroll source deductions, or the priority claim due to employees pursuant to section 81.3 of the Bankruptcy and Insolvency Act. · 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: The Proposal provides that this Source Deduction Claim will be paid in full from the Proposal Funds before any distribution to Unsecured Creditors. · pct of: unstated · outcome: paid_in_full · class key: deemed_trust · stated by: proposal_trustee · class label: CRA Source Deduction Claim (Deemed Trust) · claims amount: 20000 · creditor name: Canada Revenue Agency · interim final: unstated · claims qualifier: estimated; basis: liquidation_alternative · quote: | Estimated % Net Dividend | 9% | 0% | · pct of: unstated · outcome: nil · pct low: 0 · pct high: 0 · class key: unsecured · stated by: proposal_trustee · class label: Unsecured Creditors (bankruptcy scenario table) · claims amount: 155000 · interim final: unstated · claims qualifier: estimated; basis: plan · quote: | Claims of General Creditors claiming pro rata share | 155,000 | 155,000 | · pct of: unstated · outcome: distribution · pct low: 9 · pct high: 9 · class key: unsecured · stated by: proposal_trustee · class label: Claims of General Creditors claiming pro rata share (proposal scenario) · claims amount: 155000 · interim final: unstated · claims qualifier: estimated · table missing:
secured creditors