Newfoundland and Labrador · Proposal
Trustee Report on the Proposal
Court officer report · 27 March 2026
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What we verified from this filing11 verified
- appointeeBDO Canada Limited
- appointee roleLicensed Insolvency Trustee
- commencement date20 February 2026
- courtTHE SUPREME COURT OF NEWFOUNDLAND AND LABRADOR GENERAL DIVISION, IN BANKRUPTCY AND INSOLVENCY
- statutory basissubsection 50.4 of the Bankruptcy and Insolvency Act and subsection 62.(1) of the BIA
- financial positionnote: Asset figures are book values from unaudited internal records not verified by the Proposal Trustee; total liabilities figure of $3,282,000 is the document's own stated sum of Secured ($1,418,000), Priority ($146,000) and Unsecured ($1,718,000) creditor balances per Creditor Summary table; assets and liabilities dates differ as noted · page: 5 · as at: 2026-02-28 (assets) / Filing Date 2026-02-20 (liabilities) · basis: Book value per Company's internal (unaudited, unverified) financial statements as at February 28, 2026 for assets (estimated realizable values in liquidation also shown separately); Creditor Summary balances (secured/priority/unsecured) stated as of the Filing Date · scope: Entity-level: Eastern Roof & Floor Truss Manufacturing (2008) Inc. (non-consolidated) · currency: CAD · total assets: 2715000 · total liabilities: 3282000
- secured creditorsnote: Named Affected Secured Creditor in Proposal; loan facilities to continue with modified interest/principal terms during Proposal Period · page: 5 · as of: Filing Date (2026-02-20) · amount: 850000 · debtor: Eastern Roof & Floor Truss Manufacturing (2008) Inc. · creditor: Bank of Montreal (BMO) · currency: CAD · security: First ranking GSA (registered 2008-06-27) over all present/after-acquired personal property (receivables, inventory, machinery/equipment); PMSI (registered 2008-06-30) against equipment/vehicles; first ranking all-indebtedness mortgage of $125,000 (registered) over head office at 45 Marine Drive, Clarenville
- secured creditorsnote: Deemed trust claim (payroll source deductions) pursuant to s.60(1)(1.1) BIA; ranks in priority to all other creditors; also subject to CRA garnishment on operating account issued February 2026 · page: 5 · as of: 2026-02-28 · amount: 146000 · debtor: Eastern Roof & Floor Truss Manufacturing (2008) Inc. · creditor: Canada Revenue Agency (CRA) · currency: CAD
- secured creditorsnote: Not named in Proposal (Unaffected Secured Creditors); debtor intends to service these debts as they become due during Proposal Period; aggregated per PMSI equipment financier class · page: 6 · as of: Filing Date (2026-02-20) · amount: 404000 · debtor: Eastern Roof & Floor Truss Manufacturing (2008) Inc. · creditor: PPSA equipment financiers (PMSI class) - Bank of Nova Scotia, De Lage Landen Financial Services Canada Inc., Vault Credit Corporation, Ford Credit Canada Company, Royal Bank of Canada, LBEL Inc. · currency: CAD · security: PMSI security registered under PPSA against financed equipment and vehicles
- secured creditorsnote: Named Affected Secured Creditor; principal payments reduced 50% for 24 months under Proposal, amortization extended by 12 months · page: 6 · as of: Filing Date (2026-02-20) · amount: 165000 · debtor: Eastern Roof & Floor Truss Manufacturing (2008) Inc. · creditor: Business Development Bank of Canada (BDC) · currency: CAD · security: Second ranking GSA (registered 2023-07-11) over all present/after-acquired personal property, subject to priority agreement with BMO dated 2017-08-10; PMSI (registered 2023-07-11) against equipment assets
- recovery outcomeentries: basis: plan · quote: The Proposal Trustee estimates the net recovery to Unsecured Creditors if the Proposal is successful will be in the range of ninety-five (95) cents on the dollar net of payment of the following: · pct of: unstated · outcome: distribution · pct low: 95 · currency: CAD · pct high: 95 · class key: unsecured · stated by: proposal_trustee · class label: Unsecured Creditors · claims amount: 460000 · interim final: unstated · currency quote: All dollar amounts identified in this Report are expressed in or converted to Canadian dollars. · cents on dollar: 95 · claims qualifier: unstated · table missing: