Ontario · Bankruptcy
Bankruptcy preliminary report
Pre-filing report · 14 May 2020
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What we verified from this filing16 verified
- appointeeMNP Ltd.
- appointee roletrustee in bankruptcy
- commencement date28 April 2020
- court file no35-2641497
- proceeding typebia_bankruptcy
- secured creditorsnote: At time of NOI demand, RBC owed 'in excess of $1.0 million'; per Statement of Affairs, total secured claims (all secured creditors combined) were $514,580, with $93,019 in claims received to date; components not broken out by creditor - see financial_position/secured totals; also guaranteed trustee fees/costs to $4,520 · page: 1 · as of: 2020-01-03 · debtor: Woody's MFG Ltd. · creditor: Royal Bank of Canada · currency: CAD · security: General security registration and specific registrations against various equipment
- unsecured creditorsnote: Deemed trust class per Section D table; approximate figure in prose stated as $195,000; claims received to date $nil · page: 1 · as of: Statement of Affairs · basis: Statement of Affairs as reported · amount: 199066 · debtor: Woody's MFG Ltd. · creditor: Canada Revenue Agency (deemed trust - unpaid source deductions) · currency: CAD
- financial positionnote: Total per Statement of Affairs is $2,600,697 (unsecured $1,887,024 + preferred $27 + secured $514,580 + deemed trust $199,066); claims received to date total $438,864 (unsecured $345,845 + preferred nil + secured $93,019 + deemed trust nil); no total assets figure stated - Trustee states there are no assets available to the Trustee for realization, with receivership assets to be liquidated by the Receiver; trade accounts receivable book value $58,000 · page: 2 · basis: Statement of Affairs · scope: entity - Woody's MFG Ltd. · currency: CAD · total liabilities: 2600697
- statutory basisBankruptcy and Insolvency Act
- unsecured creditorsnote: Claims received to date total $345,845; document names no individual unsecured creditors · page: 2 · as of: Statement of Affairs · basis: Statement of Affairs as reported · amount: 1887024 · debtor: Woody's MFG Ltd. · creditor: Unsecured creditors (aggregate as reported) · currency: CAD
- unsecured creditorsnote: Preferred class per BIA - former employees for unpaid wages, vacation and termination pay; each employee listed at nominal $1 claim as true amount unknown at date of bankruptcy; claims received to date $nil · page: 2 · as of: Statement of Affairs · basis: Statement of Affairs as reported · amount: 27 · debtor: Woody's MFG Ltd. · creditor: Preferred creditors (former employees, aggregate as reported) · currency: CAD
- secured creditorsnote: PPSA search dated April 23, 2020 · page: 3 · as of: 2020-04-23 · debtor: Woody's MFG Ltd. · creditor: Toyota Credit Canada Inc. · currency: CAD · security: Specific registration against a vehicle
- secured creditorsnote: PPSA search dated April 23, 2020; also guaranteed trustee fees/costs to $4,520 · page: 3 · as of: 2020-04-23 · debtor: Woody's MFG Ltd. · creditor: Business Development Bank of Canada (BDC) · currency: CAD · security: General security registration
- secured creditorsnote: PPSA search dated April 23, 2020 · page: 3 · as of: 2020-04-23 · debtor: Woody's MFG Ltd. · creditor: Meridian Onecap Credit Corp · currency: CAD · security: Specific registration against various equipment
- secured creditorsnote: PPSA search dated April 23, 2020; equipment excluded from the receivership Initial Order · page: 3 · as of: 2020-04-23 · debtor: Woody's MFG Ltd. · creditor: CNC Automation · currency: CAD · security: Specific registration against various equipment
- provinceOntario