Ontario · Receivership (court-appointed)
Creditors Package
Meeting materials · 22 September 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 filing19 verified · 1 withheld
- appointeeB. Riley Farber Inc.
- appointee roleTrustee
- proceeding typebia_bankruptcy
- provinceONTARIO
- statutory basisSubsection 102(1) of the Act
- statutory basisSubsection 102(1) of the Act
- financial positionnote: Deficiency 4,573,000.85; surplus NIL. Balance-sheet liability lines: unsecured creditors List A 4,558,251.85 + balance of secured claims List B 14,749.00 = total unsecured 4,573,000.85; secured creditors List B 2.00; preferred creditors List C 0.00; contingent/trust claims List D 0.00. Total assets 2.00. Form 78 states date of bankruptcy 15 September 2023; the Notice and Proof of Claim cite the assignment/bankruptcy date as 18 September 2023. · page: 2 · as at: 2023-09-15 · basis: Form 78 Statement of Affairs as stated and estimated by the officer · scope: entity - AusculSciences Canada, Inc. · currency: CAD · total assets: 2 · total liabilities: 4573002.85
- unsecured creditorsnote: related party (address Vienna VA USA - affiliated/parent Ausculsciences Inc.); amount stated in CAD on Form 78 · page: 3 · as of: 2023-09-15 · basis: Form 78 List A (Unsecured Creditors) as stated by the officer · amount: 4218663.02 · debtor: AusculSciences Canada, Inc. · creditor: Ausculsciences Inc. · currency: CAD
- unsecured creditorsnote: CEBA loan · page: 3 · as of: 2023-09-15 · basis: Form 78 List A (Unsecured Creditors) as stated by the officer · amount: 40000 · debtor: AusculSciences Canada, Inc. · creditor: BMO Bank of Montreal (formerly MBanx) c/o BankruptcyHighway.com (CEBA) · currency: CAD
- unsecured creditorspage: 3 · as of: 2023-09-15 · basis: Form 78 List A (Unsecured Creditors) as stated by the officer · amount: 14370.45 · debtor: AusculSciences Canada, Inc. · creditor: BSI · currency: CAD
- unsecured creditorsnote: CRA; tax authority / deemed-trust class; stated at nominal $1.00 · page: 3 · as of: 2023-09-15 · basis: Form 78 List A (Unsecured Creditors) as stated by the officer · amount: 1 · debtor: AusculSciences Canada, Inc. · creditor: CRA - Tax - Ontario (751954496) · currency: CAD
- unsecured creditorsnote: individual · page: 3 · as of: 2023-09-15 · basis: Form 78 List A (Unsecured Creditors) as stated by the officer · amount: 7900 · debtor: AusculSciences Canada, Inc. · creditor: Dr. Pravin Shukle · currency: CAD
- unsecured creditorsnote: landlord; listed as unsecured in List A · page: 3 · as of: 2023-09-15 · basis: Form 78 List A (Unsecured Creditors) as stated by the officer · amount: 92016.45 · debtor: AusculSciences Canada, Inc. · creditor: Merkburn Holdings Limited · currency: CAD
- unsecured creditorspage: 3 · as of: 2023-09-15 · basis: Form 78 List A (Unsecured Creditors) as stated by the officer · amount: 60944.93 · debtor: AusculSciences Canada, Inc. · creditor: Nova · currency: CAD
- unsecured creditorsnote: unsecured claim column 0.00; total claim 14,749.00 is the balance of a secured claim (see List B, secured amount 14,751.00). Recorded to keep List A complete; do not double-count with secured entry. · page: 3 · as of: 2023-09-15 · basis: Form 78 List A (Unsecured Creditors) as stated by the officer · amount: 0 · debtor: AusculSciences Canada, Inc. · creditor: Ontario Ministry of Finance (Account Management and Collections Branch, Insolvency Unit) · currency: CAD
- unsecured creditorspage: 3 · as of: 2023-09-15 · basis: Form 78 List A (Unsecured Creditors) as stated by the officer · amount: 50260 · debtor: AusculSciences Canada, Inc. · creditor: Regional Relief and Recovery Fund (5001166263) · currency: CAD
- unsecured creditorspage: 3 · as of: 2023-09-15 · basis: Form 78 List A (Unsecured Creditors) as stated by the officer · amount: 66000 · debtor: AusculSciences Canada, Inc. · creditor: St. John Regional · currency: CAD
- unsecured creditorspage: 3 · as of: 2023-09-15 · basis: Form 78 List A (Unsecured Creditors) as stated by the officer · amount: 8096 · debtor: AusculSciences Canada, Inc. · creditor: University of Calgary (Finance, Project 10022516) · currency: CAD
- secured creditorsnote: provincial Crown tax authority; secured claim per Form 78 List B · page: 4 · as of: 2023-09-15 · amount: 14751 · debtor: AusculSciences Canada, Inc. · creditor: Ontario Ministry of Finance (Account Management and Collections Branch, Insolvency Unit) · currency: CAD · security: Business Assets - Trade Fixtures (Property, Plant & Equipment); GST Refund; Investment Tax Credits; Rent Deposit; Due from Ausculsciences International, Inc; Stock In Trade - Inventory. Estimated value of security 2.00; balance of claim (unsecured shortfall) 14,749.00
1 extracted value is withheld: either a trap-shaped field where models produce confident wrong numbers, or an identity value whose quotation could not be found in the document. Withheld values are shown to no one.