Ontario · Bankruptcy
Trustee's Report to the Creditors on Preliminary Administration dated July 10, 2025
Court officer report · 10 July 2025
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What we verified from this filing11 verified
- court file no31-3238928
- provinceONTARIO
- appointeeTDB Restructuring Limited
- appointee roletrustee
- commencement date23 June 2025
- financial positionnote: Total liabilities per SOA comprise secured $846,330.43, preferred $351,417.74, unsecured $1,207,128.13; as of claims filed July 10, 2025 total liabilities were $737,604.26 (preferred $651,543.06, unsecured $86,061.20, secured portion not restated). · page: 3 · as at: 2025-06-23 · basis: Statement of Affairs sworn June 23, 2025; net book value used for trade fixtures, machinery and equipment, furniture and other assets as Company was unable to provide estimated realizable values · scope: RDP Fulfillment Corporation (single entity) · currency: CAD · total assets: 846330 · total liabilities: 2404876.3
- unsecured creditorsnote: Preferred class, ranks ahead of ordinary unsecured. Per Statement of Affairs the preferred amount was $351,417.74; document names no individual creditors. · page: 3 · as of: 2025-07-10 · basis: Claims filed as of 12:00 p.m. on July 10, 2025 · amount: 651543.06 · debtor: RDP Fulfillment Corporation · creditor: Preferred creditors (aggregate as reported) · currency: CAD
- unsecured creditorsnote: Per Statement of Affairs the unsecured amount was $1,207,128.13, which includes amounts owed to secured creditors in excess of estimated asset value; document names no individual creditors. · page: 3 · as of: 2025-07-10 · basis: Claims filed as of 12:00 p.m. on July 10, 2025 · amount: 86061.2 · debtor: RDP Fulfillment Corporation · creditor: Unsecured creditors (aggregate as reported) · currency: CAD
- secured creditorsnote: Payout statement not yet obtained; Toyota has not responded to Trustee's requests as of report date. · page: 4 · as of: date of bankruptcy · amount: 38980 · debtor: RDP Fulfillment Corporation · creditor: Toyota Industries Commercial Finance Canada Inc. ("Toyota") · currency: CAD · security: Lease agreement dated July 12, 2024 in respect of a 2012 forklift (registered PPSA security interest)
- secured creditorsnote: Statement of Affairs shows only $846,330.43 as secured (capped to estimated asset value); remainder of debt reflected as unsecured claim on SOA. Security opinion confirmed as valid and enforceable by Receiver's counsel. Senior secured lender. · page: 4 · as of: date of bankruptcy · amount: 1101555.67 · debtor: RDP Fulfillment Corporation · creditor: 2125028 Ontario Inc. ("212") · currency: CAD · security: General Security Agreement (GSA) over the Company's assets
- recovery outcomeentries: basis: estimated · quote: Based on the information set out on the Statement of Affairs and in this report, the Trustee anticipates that there will be no funds available for distribution to the Company's unsecured creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated · stated on: 2025-07-10 · table missing: