Ontario · NOI
Notice of Proposal to Creditors – dated April 29, 2022
Notice to creditors · 29 April 2022
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 filing5 verified
- financial positionnote: Liabilities as stated: unsecured per List A $16,454.80; balance of secured claims per List B $402,174.96; total unsecured creditors $418,629.76; secured creditors per List B $613,998.86; preferred creditors per List C $2,000.00; contingent/trust per List D $0.00; total liabilities $1,034,628.62. Surplus stated NIL; deficiency $420,629.76. Total assets $613,998.86 is estimated realizable value (List H). Sworn by Mike Sioen, officer of the debtor, on 2022-04-19 (swear clause contains an apparent typo 'April 2021'). Estate No. 32/35-2802344; NOI filed 2022-02-04, proposal filed 2022-04-19; trustee Richter Inc. · page: 2 · as at: 2022-04-19 · basis: Statement of Affairs (Form 78, Business Proposal), as stated and estimated by the officer and sworn; values are management estimates, not audited · scope: Ayanda Cannabis Corporation, single entity · currency: CAD · total assets: 613998.86 · total liabilities: 1034628.62
- unsecured creditorsnote: This is the 'Balance of claim' (unsecured shortfall) of the List B secured claim of Michael Sioen Farms Ltd; cross-reference to the secured entry — do not double-count. List A 'Unsecured claim' column stated as $0.00; 'Total claim' $402,174.96. · page: 3 · as of: 2022-04-19 · basis: Statement of Affairs (Form 78, Business Proposal) List A — Unsecured Creditors, as stated by the officer · amount: 402174.96 · debtor: Ayanda Cannabis Corporation · creditor: Michael Sioen Farms Ltd · currency: CAD
- unsecured creditorsnote: Also listed as a List C preferred creditor for $2,000.00 (separate entry, distinct capacity). · page: 3 · as of: 2022-04-19 · basis: Statement of Affairs (Form 78, Business Proposal) List A — Unsecured Creditors, as stated by the officer · amount: 16454.8 · debtor: Ayanda Cannabis Corporation · creditor: Nathalie Cain · currency: CAD
- secured creditorsnote: Form 78 List B secured creditor; 'Amount of claim' $1,016,173.82. Estimated value of security $613,998.86; estimated surplus from security $0.00; unsecured balance/shortfall of claim $402,174.96 is carried into List A as a separate unsecured entry — do not double-count. SOA liabilities line 'Secured creditors as per list B' stated the secured portion at $613,998.86. · page: 4 · as of: 2022-04-19 · amount: 1016173.82 · debtor: Ayanda Cannabis Corporation · creditor: Michael Sioen Farms Ltd · currency: CAD · security: Business Assets - Machinery/Property, Plant and Equipment (est. value 347,301.14); HST receivable and other receivable (140,377.37); Prepaid and deposits (89,000.00); Cash on Hand (37,320.35); Business Assets - Stock In Trade - Inventory (0.00)
- unsecured creditorsnote: Preferred creditor (BIA s.136 priority class) — ranks ahead of ordinary unsecured. Amount of claim $2,000.00; amount payable in full stated $0.00; difference ranking for dividend $2,000.00. Same person as the List A unsecured entry of $16,454.80 (distinct capacity). · page: 5 · as of: 2022-04-19 · basis: Statement of Affairs (Form 78, Business Proposal) List C — Preferred Creditors for Wages, Rent, etc., as stated by the officer · amount: 2000 · debtor: Ayanda Cannabis Corporation · creditor: Nathalie Cain · currency: CAD