Ontario · Proposal
Notice of Proposal to Creditors
Court officer report · 15 October 2019
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What we verified from this filing25 verified
- appointeeGoldhar & Associates Ltd.
- appointee roleTrustee
- commencement date11 October 2019
- courtONTARIO SUPERIOR COURT OF JUSTICE IN BANKRUPTCY AND INSOLVENCY
- court file no33-2557274
- proceeding typebia_proposal
- provinceONTARIO
- statutory basisBankruptcy and Insolvency Act (BIA)
- financial positionnote: Deficiency of $188,582.21 stated on the Statement of Affairs; total unsecured creditors $270,368.33 (comprising $140,097.14 unsecured claims and $130,271.19 balance of secured claims per List A/B), secured creditors $82,927.88, preferred creditors $2,500.00 per Statement of Affairs summary · page: 14 · as at: 2019-10-10 · basis: Statement of Affairs as stated and estimated by the officer, sworn/declared by James Boles · scope: 2200825 Ontario Inc. (entity level) · currency: CAD · total assets: 167214 · total liabilities: 355796.21
- unsecured creditorsnote: Total claim shown; balance of claim after security $6,000.00, unsecured portion $0.00 · page: 15 · as of: 2019-10-10 · basis: Statement of Affairs List A, as reported · amount: 6000 · debtor: 2200825 Ontario Inc. · creditor: Agco Finance Canada Ltd. · currency: CAD
- unsecured creditorsnote: Unsecured claim; balance of claim $0.00 · page: 15 · as of: 2019-10-10 · basis: Statement of Affairs List A, as reported · amount: 49097.14 · debtor: 2200825 Ontario Inc. · creditor: CIBC Bankruptcies c/o TECHCOM Managed Services · currency: CAD
- unsecured creditorsnote: Deemed trust class claim, listed as balance of claim (unsecured portion $0.00); also appears as secured creditor in List B · page: 15 · as of: 2019-10-10 · basis: Statement of Affairs List A, as reported · amount: 75911.19 · debtor: 2200825 Ontario Inc. · creditor: CRA - Tax - Ontario (814707220 RP001) - est. Deemed Trust · currency: CAD
- unsecured creditorsnote: Unsecured claim; balance of claim $0.00 · page: 15 · as of: 2019-10-10 · basis: Statement of Affairs List A, as reported · amount: 91000 · debtor: 2200825 Ontario Inc. · creditor: CRA - Tax - Ontario (814707220 RT0001) · currency: CAD
- unsecured creditorsnote: Total claim shown; balance of claim after security $4,210.00, unsecured portion $0.00 · page: 15 · as of: 2019-10-10 · basis: Statement of Affairs List A, as reported · amount: 4210 · debtor: 2200825 Ontario Inc. · creditor: Kempenfelt Capital Inc. · currency: CAD
- unsecured creditorsnote: Total claim shown; balance of claim after security $40,150.00, unsecured portion $0.00 · page: 15 · as of: 2019-10-10 · basis: Statement of Affairs List A, as reported · amount: 40150 · debtor: 2200825 Ontario Inc. · creditor: Kubota Canada Ltd. c/o Legal Department · currency: CAD
- unsecured creditorsnote: Total claim shown; balance of claim after security $4,000.00, unsecured portion $0.00 · page: 15 · as of: 2019-10-10 · basis: Statement of Affairs List A, as reported · amount: 4000 · debtor: 2200825 Ontario Inc. · creditor: Blue Chip Leasing Corporation · currency: CAD
- secured creditorsnote: Balance of claim per Statement of Affairs List B · page: 16 · as of: 2019-10-10 · amount: 4210 · debtor: 2200825 Ontario Inc. · creditor: Kempenfelt Capital Inc. · currency: CAD · security: Motor Vehicles - Other - 1988 John Deere 640 Log Skidder; amount of claim $11,210.00, estimated value of security $7,000.00
- secured creditorsnote: Balance of claim per Statement of Affairs List B · page: 16 · as of: 2019-10-10 · amount: 6000 · debtor: 2200825 Ontario Inc. · creditor: Agco Finance Canada Ltd. · currency: CAD · security: Motor Vehicles - Other - 2013 Massey Ferguson ZT29 Lawn Mower; amount of claim $9,000.00, estimated value of security $3,000.00
- secured creditorsnote: Balance of claim per Statement of Affairs List B · page: 16 · as of: 2019-10-10 · amount: 4000 · debtor: 2200825 Ontario Inc. · creditor: Blue Chip Leasing Corporation · currency: CAD · security: Motor Vehicles - Other - 2018 Miska 10 Ton Float Trailer; amount of claim $7,000.00, estimated value of security $3,000.00
- secured creditorsnote: Balance of claim shown as $0.00 (fully secured by value of collateral) per Statement of Affairs List B · page: 16 · as of: 2019-10-10 · amount: 0 · debtor: 2200825 Ontario Inc. · creditor: Caterpillar Financial Services Ltd. · currency: CAD · security: Motor Vehicles - Other - 2008 CAT 420E Backhoe; amount of claim $38,286.96, estimated value of security $38,286.96
- secured creditorsnote: Deemed trust class claim, listed as secured creditor in List B; same amount also referenced in Proposal para 6 and Trustee's Report as $75,911.19/$75,911.10 · page: 16 · as of: 2019-10-10 · amount: 75911.19 · debtor: 2200825 Ontario Inc. · creditor: CRA - Tax - Ontario (814707220 RP001) · currency: CAD · security: Estimated Deemed Trust claim
- secured creditorsnote: Balance of claim per Statement of Affairs List B · page: 16 · as of: 2019-10-10 · amount: 40150 · debtor: 2200825 Ontario Inc. · creditor: Kubota Canada Ltd. c/o Legal Department · currency: CAD · security: Motor Vehicles - Other - 2016 Kubota Excavator 057; amount of claim $65,150.00, estimated value of security $25,000.00
- secured creditorsnote: Balance of claim shown as $0.00 (fully secured by value of collateral) per Statement of Affairs List B · page: 16 · as of: 2019-10-10 · amount: 0 · debtor: 2200825 Ontario Inc. · creditor: Meridian Onecap Credit Corporation (formerly Roynat Lease Finance - Toronto) · currency: CAD · security: Motor Vehicles - Other - 2018 Frontier sickle bar Mower-9'; amount of claim $6,640.92, estimated value of security $6,640.92
- unsecured creditorsnote: Preferred creditor claim for wages owed up to Oct 11, 2019; period 07-Oct-2019 to 11-Oct-2019 · page: 17 · as of: 2019-10-10 · basis: Statement of Affairs List C, as reported · amount: 2500 · debtor: 2200825 Ontario Inc. · creditor: Wages Employees · currency: CAD
- recovery outcomeentries: basis: liquidation_alternative · quote: | % of distribution for creditors | 25.33% | 76.89% | · pct of: unstated · outcome: distribution · pct low: 25.33 · pct high: 25.33 · class key: unsecured · stated by: trustee · class label: creditors (bankruptcy scenario) · interim final: unstated · claims qualifier: unstated; basis: plan · quote: | % of distribution for creditors | 25.33% | 76.89% | · pct of: unstated · outcome: distribution · pct low: 76.89 · pct high: 76.89 · class key: unsecured · stated by: trustee · class label: creditors (Proposal) · interim final: unstated · claims qualifier: unstated · stated on: 2019-10-11 · table missing: