Ontario · Bankruptcy
Statement of Affairs
Statement of affairs · 12 May 2025
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 filing54 verified
- commencement date12 May 2025
- financial positionnote: Liabilities comprise secured $310,232.03, preferred/priorities $0.00, unsecured $2,743,063.22, contingent/trust/other $0.00; resulting deficiency of $2,539,508.40 as stated in the filing. · page: 1 · as at: 2025-05-12 · basis: Statement of Affairs (Form 78) as stated and estimated by bankrupt/debtor · scope: Entity - Trunorth Tire Distribution Ltd. (bankrupt corporation) · currency: CAD · total assets: 513786.85 · total liabilities: 3053295.25
- provinceOntario
- statutory basisSubsection 49(2) and Paragraph 158(d) of the Act / subsections 50(2) and 62(1) of the Act
- unsecured creditorspage: 3 · as of: 2025-05-12 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor (AP) · amount: 2130.43 · debtor: Trunorth Tire Distribution Ltd. · creditor: Bell Mobility · currency: CAD
- unsecured creditorsnote: Deemed trust class (HST); box checked 'values on this line are for notification only' - actual amount not stated. · page: 3 · as of: 2025-05-12 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor (HST account) · debtor: Trunorth Tire Distribution Ltd. · creditor: Canada Revenue Agency - HST Account · currency: CAD
- unsecured creditorsnote: Deemed trust class (source deductions); placeholder for notification only - amount not stated. · page: 3 · as of: 2025-05-12 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor (Payroll/Source Deductions account) · debtor: Trunorth Tire Distribution Ltd. · creditor: Canada Revenue Agency - Payroll/Source Deductions · currency: CAD
- unsecured creditorspage: 3 · as of: 2025-05-12 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor (AP) · amount: 22305.89 · debtor: Trunorth Tire Distribution Ltd. · creditor: Canada Tire Supply & Tire · currency: CAD
- unsecured creditorspage: 3 · as of: 2025-05-12 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor (AP) · amount: 93.11 · debtor: Trunorth Tire Distribution Ltd. · creditor: 407 ETR Express Toll Route · currency: CAD
- unsecured creditorspage: 3 · as of: 2025-05-12 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor (AP) · amount: 214.7 · debtor: Trunorth Tire Distribution Ltd. · creditor: AA Krupski Ltd. (Charles West) · currency: CAD
- unsecured creditorsnote: Also stated as US$935,868.44 · page: 3 · as of: 2025-05-12 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor (AP) · amount: 1294826.8 · debtor: Trunorth Tire Distribution Ltd. · creditor: Amcan Tire Inc. · currency: CAD
- unsecured creditorspage: 4 · as of: 2025-05-12 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor (AP) · amount: 1965.07 · debtor: Trunorth Tire Distribution Ltd. · creditor: Canadian Business Forms · currency: CAD
- unsecured creditorspage: 4 · as of: 2025-05-12 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor (Accounts payable) · amount: 3000 · debtor: Trunorth Tire Distribution Ltd. · creditor: Chris Copeland CGA · currency: CAD
- unsecured creditorspage: 4 · as of: 2025-05-12 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor (AP) · amount: 76063.96 · debtor: Trunorth Tire Distribution Ltd. · creditor: Consumers Tire · currency: CAD
- unsecured creditorspage: 4 · as of: 2025-05-12 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor (AP) · amount: 268201.01 · debtor: Trunorth Tire Distribution Ltd. · creditor: Continental Tire Canada Inc · currency: CAD
- unsecured creditorspage: 4 · as of: 2025-05-12 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor (AP) · amount: 3863.7 · debtor: Trunorth Tire Distribution Ltd. · creditor: Coombs & Lutz · currency: CAD
- unsecured creditorspage: 4 · as of: 2025-05-12 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor (AP) · amount: 9140.31 · debtor: Trunorth Tire Distribution Ltd. · creditor: Cylabh · currency: CAD
- unsecured creditorspage: 4 · as of: 2025-05-12 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor (AP) · amount: 42715.81 · debtor: Trunorth Tire Distribution Ltd. · creditor: DTD 2009 Inc · currency: CAD
- unsecured creditorspage: 4 · as of: 2025-05-12 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor (AP) · amount: 141.36 · debtor: Trunorth Tire Distribution Ltd. · creditor: Dundas Tirecraft · currency: CAD
- unsecured creditorspage: 4 · as of: 2025-05-12 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor (AP) · amount: 64395.17 · debtor: Trunorth Tire Distribution Ltd. · creditor: Dynamic Tire · currency: CAD
- unsecured creditorsnote: Placeholder - values for notification only; potential preferred wage/severance claims; amount not stated. · page: 5 · as of: 2025-05-12 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor (Termination and Severance Pay, as applicable) · debtor: Trunorth Tire Distribution Ltd. · creditor: Former Employees · currency: CAD
- unsecured creditorspage: 5 · as of: 2025-05-12 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor (AP) · amount: 7155.74 · debtor: Trunorth Tire Distribution Ltd. · creditor: EHT Ontario Employer Health Tax · currency: CAD
- unsecured creditorspage: 5 · as of: 2025-05-12 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor (AP) · amount: 143678.33 · debtor: Trunorth Tire Distribution Ltd. · creditor: Giti Tire (Canada) Ltd · currency: CAD
- unsecured creditorsnote: Placeholder - values for notification only; amount not stated. · page: 5 · as of: 2025-05-12 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor (AP) · debtor: Trunorth Tire Distribution Ltd. · creditor: Gowling WLG · currency: CAD
- unsecured creditorsnote: Landlord for premises at 66 Talbot St. E.; ground for priority claim noted as 'Rent'; placeholder - values for notification only; amount not stated. · page: 5 · as of: 2025-05-12 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor · debtor: Trunorth Tire Distribution Ltd. · creditor: HML Holdings Ltd. (Landlord, Attn: John Edelman) · currency: CAD
- unsecured creditorspage: 5 · as of: 2025-05-12 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor (AP) · amount: 499.73 · debtor: Trunorth Tire Distribution Ltd. · creditor: Home Hardware Cayuga · currency: CAD
- unsecured creditorspage: 5 · as of: 2025-05-12 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor (AP) · amount: 1153.61 · debtor: Trunorth Tire Distribution Ltd. · creditor: Hydro One Networks Inc · currency: CAD
- unsecured creditorspage: 5 · as of: 2025-05-12 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor (AP) · amount: 326.68 · debtor: Trunorth Tire Distribution Ltd. · creditor: Liftow Limited · currency: CAD
- unsecured creditorspage: 5 · as of: 2025-05-12 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor (AP) · amount: 63422.35 · debtor: Trunorth Tire Distribution Ltd. · creditor: London Tire Sales Ltd. · currency: CAD
- secured creditorsnote: Aggregates: Nissan Canada Finance Inc. $19,686.00 (secured by vehicle asset #802, PPSA registered 2023-06-27); Royal Bank of Canada $0.00 (PPSA, box checked 'values on this line are for notification only' - amount not stated); SCI Lease Corp. $0.00 (same placeholder); Toyota Credit Canada Incorporated $0.00 (same placeholder). Individual line items appear at original pages 6-8. · page: 6 · as of: 2025-05-12 · amount: 19686 · debtor: Trunorth Tire Distribution Ltd. · creditor: PPSA equipment financiers (PMSI class) · currency: CAD · security: PPSA-registered finance company loans (vehicle/equipment financing)
- unsecured creditorsnote: Claim bifurcated: secured $19,686.00 against vehicle asset #802 (see secured creditors), unsecured deficiency $14,641.04; total claim $34,327.04. · page: 6 · as of: 2023-06-27 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor (PPSA finance company loan) · amount: 14641.04 · debtor: Trunorth Tire Distribution Ltd. · creditor: Nissan Canada Finance Inc. · currency: CAD
- unsecured creditorspage: 6 · as of: 2025-05-12 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor (AP) · amount: 1069.43 · debtor: Trunorth Tire Distribution Ltd. · creditor: Norfolk Disposal Services Ltd. · currency: CAD
- unsecured creditorspage: 6 · as of: 2025-05-12 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor (Accounts payable) · amount: 8631.57 · debtor: Trunorth Tire Distribution Ltd. · creditor: Parkland Corporation · currency: CAD
- unsecured creditorspage: 6 · as of: 2025-05-12 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor (AP) · amount: 3509.68 · debtor: Trunorth Tire Distribution Ltd. · creditor: Rawden Cleaning Service · currency: CAD
- unsecured creditorsnote: Related party - shareholder/director of the bankrupt (also signed the Statement of Affairs). · page: 6 · as of: 2025-05-12 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor (Shareholder Loan and Other) · amount: 31629.12 · debtor: Trunorth Tire Distribution Ltd. · creditor: Ray Herrow · currency: CAD
- unsecured creditorspage: 6 · as of: 2025-05-12 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor (AP) · amount: 787.06 · debtor: Trunorth Tire Distribution Ltd. · creditor: Robert Thibert Inc. · currency: CAD
- unsecured creditorsnote: Related party - shareholder. · page: 6 · as of: 2025-05-12 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor (Shareholder Loan and Other) · amount: 31267.62 · debtor: Trunorth Tire Distribution Ltd. · creditor: Ron Smith · currency: CAD
- unsecured creditorspage: 6 · as of: 2025-05-12 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor (AP) · amount: 95708.16 · debtor: Trunorth Tire Distribution Ltd. · creditor: Macpek · currency: CAD
- secured creditorsnote: Total claim $510,815.00; unsecured portion $260,815.00 also stated as US$369,204.31; claim bifurcated secured/unsecured by security valuation. · page: 7 · as of: 2010-10-20 · amount: 250000 · debtor: Trunorth Tire Distribution Ltd. · creditor: TBC International · currency: CAD · security: Business assets - inventory (tire stock), accounts receivable, trade fixtures, machinery/equipment, vehicles, deposits (asset codes 101,1301,1101,1103,1104,801,501)
- secured creditorsnote: Estimated surplus from security $5,453.97; claim fully secured, no unsecured portion stated. · page: 7 · as of: 2022-12-23 · amount: 24546.03 · debtor: Trunorth Tire Distribution Ltd. · creditor: Sumitomo Rubber North America · currency: CAD · security: Inventory - Sumitomo tire product (asset code 1102)
- unsecured creditorspage: 7 · as of: 2025-05-12 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor (AP) · amount: 2341.36 · debtor: Trunorth Tire Distribution Ltd. · creditor: Tim's Tire & Towing · currency: CAD
- unsecured creditorspage: 7 · as of: 2025-05-12 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor (AP) · amount: 167289.62 · debtor: Trunorth Tire Distribution Ltd. · creditor: Tire Country · currency: CAD
- unsecured creditorspage: 7 · as of: 2025-05-12 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor (AP) · amount: 15763.5 · debtor: Trunorth Tire Distribution Ltd. · creditor: Topair Industry Co (Primetec) · currency: CAD
- unsecured creditorsnote: Also stated as US$369,204.31; claim bifurcated secured $250,000.00 (see secured creditors) / unsecured $260,815.00; total claim $510,815.00. · page: 7 · as of: 2010-10-20 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor (AP) · amount: 260815 · debtor: Trunorth Tire Distribution Ltd. · creditor: TBC International · currency: CAD
- unsecured creditorspage: 7 · as of: 2025-05-12 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor (AP) · amount: 11357.39 · debtor: Trunorth Tire Distribution Ltd. · creditor: Sunlife Assurance Company Canada · currency: CAD
- unsecured creditorspage: 7 · as of: 2025-05-12 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor (AP) · amount: 98.02 · debtor: Trunorth Tire Distribution Ltd. · creditor: Tim's Tire & Alignment · currency: CAD
- secured creditorspage: 8 · as of: 2018-09-21 · amount: 16000 · debtor: Trunorth Tire Distribution Ltd. · creditor: Toronto Dominion Bank · currency: CAD · security: Business assets - inventory, receivables, fixtures, machinery/equipment, vehicles, deposits (asset codes 101,1301,1101,1103,1104,801,501)
- unsecured creditorspage: 8 · as of: 2025-05-12 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor (AP) · amount: 2373 · debtor: Trunorth Tire Distribution Ltd. · creditor: Yager Electric · currency: CAD
- unsecured creditorspage: 8 · as of: 2025-05-12 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor (AP) · amount: 12000.05 · debtor: Trunorth Tire Distribution Ltd. · creditor: William L. Rutherford Ltd. · currency: CAD
- unsecured creditorspage: 8 · as of: 2025-05-12 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor (AP) · amount: 2458.88 · debtor: Trunorth Tire Distribution Ltd. · creditor: Wheel Pros (American Racing) · currency: CAD
- unsecured creditorspage: 8 · as of: 2025-05-12 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor (AP) · amount: 6383.52 · debtor: Trunorth Tire Distribution Ltd. · creditor: Workplace Safety and Insurance Board · currency: CAD
- unsecured creditorspage: 8 · as of: 2025-05-12 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor (AP) · amount: 208.63 · debtor: Trunorth Tire Distribution Ltd. · creditor: Uline Canada Corp · currency: CAD
- unsecured creditorspage: 9 · as of: 2025-05-12 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor (AP) · amount: 2589.96 · debtor: Trunorth Tire Distribution Ltd. · creditor: Zen Construction Inc · currency: CAD
- unsecured creditorspage: 9 · as of: 2025-05-12 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor (AP) · amount: 66846.85 · debtor: Trunorth Tire Distribution Ltd. · creditor: Yess Environmental Services & Solutions · currency: CAD