Ontario · Bankruptcy
Trustee's Report to Creditors on Preliminary Administration
Court officer report · 14 December 2023
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 filing7 verified
- appointeeDeloitte Restructuring Inc.
- appointee roleTrustee
- commencement date5 December 2023
- court file no32-3018110
- provinceONTARIO
- financial positionnote: No total assets stated; components not summed. Assets per Statement of Affairs: accounts receivable are the only assets listed — Good $95,990.00; Doubtful $815,400.00; Bad $49,888,825.00 (the ~$49 million bad debt is intercompany amounts owing from former US subsidiaries, not collectible). Document states 'There were no other physical or intangible assets identified by the Trustee or listed on the Statement of Affairs.' Claims per Statement of Affairs as of December 1, 2023: Secured $0; Preferred $0; Unsecured $5,316,451.62; Contingent $407,700.00 (no total liabilities stated). Trustee also holds US$7,162.13 wired from TD Bank on December 14, 2023 (not in the Statement of Affairs). · as at: 2023-12-01 · basis: Statement of Affairs (debtor's own figures); Trustee is still determining collectability of the receivables and states that early indications are that only the 'Good' accounts will be collectible · scope: Skylight Health Group Inc. (single bankrupt entity) · currency: CAD
- recovery outcomeentries: basis: estimated · quote: The timing and the amount of any distribution to creditors is uncertain but the preliminary expectation of the Trustee is that there will be no distribution to creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: creditors · interim final: unstated · claims qualifier: unstated · stated on: 2023-12-14 · table missing: