Ontario · NOI
First Report to Court of the Proposal Trustee
Court officer report · 27 December 2024
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What we verified from this filing9 verified · 1 withheld
- courtSUPERIOR COURT OF JUSTICE (IN BANKRUPTCY AND INSOLVENCY)
- court file noBK-24-03162387-0031
- provinceONTARIO
- appointeeDodick Landau Inc.
- appointee roleProposal Trustee
- statutory basisSection 50.4(1) of the Bankruptcy and Insolvency Act
- secured creditorsnote: Exact dated balance from demand letter ('TD Indebtedness') delivered July 23, 2024 with Notice of Intention to Enforce Security under s.244 BIA; report separately states TD Bank 'is owed approximately $1.9 million' pursuant to the TD Loan Agreements (rounder, later approximation); Company entered a Forbearance Agreement with TD Bank on September 18, 2024 preventing enforcement · page: 6 · as of: 2024-07-23 · amount: 1346965.39 · debtor: Cancom Security Inc. · creditor: The Toronto Dominion Bank (TD Bank) · currency: CAD · security: Credit Facilities (operating loan, committed reduced term facility (single draw), letter of credit) under TD Loan Agreements dated July 12, 2019, May 17, 2022, and March 7, 2024
- secured creditorsnote: Deemed trust class — HST obligations; stated as 'approximately $2.8 million' of the Company's approximately $3.8 million total unsecured creditors at the date of the NOI; CRA had proposed a payment plan prior to the NOI filing · page: 7 · as of: date of the NOI (2024-12-05) · amount: 2800000 · debtor: Cancom Security Inc. · creditor: Canada Revenue Agency (CRA) · currency: CAD
- secured creditorsnote: Per Ontario PPSA Report, Company has eight secured creditors in total (TD Bank plus these seven); the seven others described collectively as equipment lenders or lessors; individual amounts not stated in the document · page: 7 · debtor: Cancom Security Inc. · creditor: PPSA equipment financiers (PMSI class) — Toyota Credit Canada, Auto One Group Limited, RBC, RCAP Leasing Inc., the Bank of Nova Scotia, TD Auto Finance (Canada) Inc., Vault Credit Corporation · currency: CAD · security: Equipment loans/leases, principally vehicles used by employees performing security work
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.