Ontario · Receivership (court-appointed)
Supplemental Notice and Statement of the Receiver – Dated February 16, 2023
Notice to creditors · 16 February 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 filing1 verified
- financial positionnote: Assets and liabilities carry different as-at dates (assets Dec 31, 2022; liabilities Jan 19, 2023). Asset components: cash at bank 52,402; term deposit 253,999; building and improvements 4,186,219; intercompany loan receivable Mizrahi Inc. 255. Liabilities: KEB Hana Bank Canada 4,066,060 (secured); GST/HST payable 15,443 (unsecured). The Notice at Schedule 'A' separately reports Northern Citadel assets of 10,591,263 and liabilities of 57,119,483, and One8One assets of 10,100 (deposits) and liabilities of 11,573,586, as at the Appointment Date (October 31, 2022). · as at: 2022-12-31 · basis: Book value of 181 Davenport Retail Inc. assets as at December 31, 2022, per information provided by the Debtors; 'do not necessarily represent current and/or realizable values'. Liabilities per list of creditors as at January 19, 2023, based on information provided by the Debtors (Receiver has not been provided books and records). · scope: 181 Davenport Retail Inc. only (entity-level, the third Debtor added by this Supplemental Notice) · currency: CAD · total assets: 4492875 · total liabilities: 4081503