Ontario · NOI
Third Report to Court of Proposal Trustee – October 27,2025
Court officer report · 27 October 2025
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What we verified from this filing5 verified
- financial positionnote: Components only, not summed: Crown Priority Claim 'the Company is indebted to CRA in the amount of approximately $725,000 in respect of a Crown Priority Claim' (subject to change per ongoing CRA trust exam); unsecured claims 'there is approximately $5.4 million owed to known unsecured claimants' as at the Filing Date. · basis: Management estimate; Crown claim amount subject to change pending CRA trust exam · scope: entity - ONTHEGO Staffing Services Inc. · currency: CAD
- operational summaryONTHEGO continues operating its staffing business and servicing its clients; the Proposal will allow approximately 330 Agency and Internal Employees to remain employed by the Company rather than lose their jobs in a bankruptcy.
- recovery outcomeentries: basis: plan · quote: As required under the BIA, Crown Priority Claims, being proven pre-filing claims of CRA, or any province, contemplated by section 60(1.1) of the BIA, consisting of unremitted source deductions, will be paid in full out of additional funds to be paid by the Debtor to the Proposal Trustee and remitted by the Proposal Trustee to CRA, or the province, as applicable, within six (6) months of the Court approval date. · pct of: unstated · outcome: paid_in_full · class key: deemed_trust · stated by: proposal_trustee · class label: Crown Priority Claims · claims amount: 725000 · creditor name: CRA · interim final: unstated · conditional on: within six (6) months of the Court approval date; CRA trust exam may change the amount · claims qualifier: estimated; basis: plan · quote: Employee Preferred Claims, if any, will be paid from Creditor Payment Fund to be delivered by the Debtor to the Proposal Trustee and shall be remitted by the Proposal Trustee to the entitled claimants, if any, immediately after the Court Approval Date. · pct of: unstated · outcome: paid_in_full · class key: preferred · stated by: proposal_trustee · class label: Employee Preferred Claims · interim final: unstated · claims qualifier: unstated; basis: plan · quote: As required under the BIA, Preferred Claims, other than Employee Preferred Claims, if any, shall be paid in full, without interest, out of the Creditor Payment Fund in priority to Unsecured Claims · pct of: unstated · outcome: paid_in_full · class key: preferred · stated by: proposal_trustee · class label: Preferred Claims, other than Employee Preferred Claims · interim final: unstated · claims qualifier: unstated; basis: plan · quote: In particular, while the assets of the debtor and the Proposal will yield a dividend which is less than 50% of the unsecured liabilities of the Debtor (4.7% to 7.7%), the information available to the Proposal Trustee indicates that this is due to circumstances for which the Debtor cannot justly be held responsible. · pct of: unstated · outcome: distribution · pct low: 4.7 · pct high: 7.7 · class key: unsecured · stated by: proposal_trustee · class label: unsecured liabilities of the Debtor · claims amount: 5400000 · interim final: unstated · claims qualifier: listed; basis: estimated · quote: As such, it is expected that the Proposal will yield a dividend closer to 7.7%, dependent on whether any of the employees listed on the Ministry's claim assert claims in the Proposal proceeding independent of the Ministry. · pct of: unstated · outcome: distribution · pct low: 7.7 · pct high: 7.7 · class key: unsecured · stated by: proposal_trustee · class label: unsecured liabilities of the Debtor · interim final: unstated · conditional on: dependent on whether any of the employees listed on the Ministry's claim assert claims in the Proposal proceeding independent of the Ministry · claims qualifier: unstated · stated on: 2025-10-27 · table missing:
- report date27 October 2025
- report noThird Report