Ontario · Bankruptcy
Preliminary Report of Trustee
Court officer report · 12 May 2022
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What we verified from this filing13 verified
- appointeeMNP Ltd.
- appointee roleLicensed Insolvency Trustee
- commencement date26 April 2022
- court file no35-2824610
- proceeding typebia_bankruptcy
- secured creditorsnote: Trustee understands amount due to Libro was paid in full prior to bankruptcy; account was frozen by Trustee post-bankruptcy · page: 2 · as of: prior to bankruptcy · debtor: 1551875 Ontario Inc o/a Brosco Excavation · creditor: Libro Credit Union · currency: CAD · security: General security agreement against the Company's assets
- secured creditorsnote: Equipment liquidated prior to bankruptcy and proceeds paid to equipment lenders to the extent of their charge; PPSA equipment financiers aggregated per document treatment · page: 2 · as of: prior to bankruptcy · debtor: 1551875 Ontario Inc o/a Brosco Excavation · creditor: Equipment lenders (multiple) · currency: CAD · security: Security registered against financed equipment
- statutory basisBankruptcy and Insolvency Act
- unsecured creditorsnote: Document names no individual creditors; claims received to date total $83,896 · page: 2 · as of: Statement of Affairs · basis: As per Statement of Affairs · amount: 1505632 · debtor: 1551875 Ontario Inc o/a Brosco Excavation · creditor: Unsecured creditors (aggregate as reported) · currency: CAD
- unsecured creditorsnote: Preferred claims per Statement of Affairs stated as Nil; claims received to date also Nil · page: 2 · as of: Statement of Affairs · basis: As per Statement of Affairs · amount: 0 · debtor: 1551875 Ontario Inc o/a Brosco Excavation · creditor: Preferred creditors (aggregate as reported) · currency: CAD
- unsecured creditorsnote: Deemed trust class; claims received to date Nil · page: 2 · as of: Statement of Affairs · basis: As per Statement of Affairs · amount: 3000 · debtor: 1551875 Ontario Inc o/a Brosco Excavation · creditor: Deemed trust claims (aggregate as reported) · currency: CAD
- provinceOntario
- recovery outcomeentries: basis: unstated · quote: A potential distribution to unsecured creditors is conceivable; however, cannot be estimated at this time. · pct of: unstated · outcome: undetermined · class key: unsecured · stated by: trustee · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated; basis: actual · quote: We understand the amount due to Libro was paid in full prior to the bankruptcy. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: trustee · class label: Libro Credit Union · creditor name: Libro Credit Union · interim final: unstated · claims qualifier: unstated; basis: liquidation_alternative · quote: As stated previously, all equipment was liquidated prior to the bankruptcy and we understand the proceeds of same were paid to the equipment lenders to the extent of their charge. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: trustee · class label: equipment lenders · interim final: unstated · claims qualifier: unstated · stated on: 2022-05-12 · table missing: