Nova Scotia · NOI
Trustee's First Report
Court officer report · 11 September 2026
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What we verified from this filing22 verified
- courtSUPREME COURT OF NOVA SCOTIA IN BANKRUPTCY AND INSOLVENCY
- court file no51-3411751
- appointeeMNP Ltd.
- appointee roleProposal Trustee
- commencement date18 August 2026
- statutory basissection 50.4 of the Bankruptcy and Insolvency Act, R.S.C. 1987, c. B-3
- financial positionnote: Cash and cash equivalents reported at $716,726 does not reconcile to Company's bank statements; aggregate bank balance as of Sept 4, 2026 was $177,156. Accounts receivable ledger as of Sept 9, 2026 reported $929,649 outstanding, exceeding the Internal Balance Sheet figure of $889,697. Liabilities not stated in balance sheet form. · page: 8 · as at: 2026-08-14 · basis: Internal Balance Sheet - unaudited, unreviewed, prepared by Company at request of Trustee; not subject to any adjustments · scope: Dynamic Restoration Ltd. (entity level) · currency: CAD · total assets: 1661603
- secured creditorsnote: Blanket all-property registrant; no balance stated · page: 10 · debtor: Dynamic Restoration Ltd. · creditor: East Coast Credit Union Limited · currency: CAD · security: General Security Agreement - all of the debtor's present and after-acquired personal property; all cash and non-cash proceeds; interest, dividends and payments relating to the collateral
- secured creditorsnote: No balance stated; PPSA equipment/vehicle financier · page: 10 · debtor: Dynamic Restoration Ltd. · creditor: Jim Pattison Industries Ltd. · currency: CAD · security: Specific charge on vehicles: 2024 GMC Sierra 2500HD (VIN 1GT49LE73RF378886); 2024 GMC Sierra 2500HD (VIN 1GT49LE79RF352082); 2023 GMC Yukon (VIN 1GKS2BKT4PR489938); 2025 GMC Sierra 1500 (VIN 3GTUUCED7SG129581); 2025 GMC Sierra 2500HD (VIN 1GT4UPEY0SF333862); 2026 RAM 2500 (VIN 3C63R5DL1TG157788); 2026 RAM 2500 (VIN 3C63R5CL1TG193739); 2026 RAM 2500 (VIN 3C63R5CL1TG208885)
- secured creditorsnote: No balance stated · page: 10 · debtor: Dynamic Restoration Ltd. · creditor: National Bank Equipment Finance Inc. · currency: CAD · security: Specific charge on vehicle: 2007 Volvo VHD T/A Dump Truck, VIN 4V5KC9GHX7N454334
- secured creditorsnote: No balance stated · page: 10 · debtor: Dynamic Restoration Ltd. · creditor: Royal Bank of Canada · currency: CAD · security: Specific charge on vehicle: 2020 Ford F550 S/D, VIN 1FDUF5HT5LED80645
- unsecured creditorsnote: Preferred/priority claim under s.60(1.1) of the BIA (deemed trust class); expected to increase once outstanding 2025/2026 payroll source deduction returns are filed and validated by CRA · page: 10 · basis: CRA proof of claim · amount: 747485 · debtor: Dynamic Restoration Ltd. · creditor: Canada Revenue Agency - Payroll (Section 60(1.1) Priority) · currency: CAD
- unsecured creditorsnote: Deemed trust/CRA claim; claim is preliminary and subject to review and potential adjustment as Company brings tax filings current; per para 33, total unsecured portion of CRA claim stated as $763,075 (sum of GST/HST unsecured and Payroll unsecured components) · page: 10 · basis: CRA proof of claim · amount: 386784 · debtor: Dynamic Restoration Ltd. · creditor: Canada Revenue Agency - Payroll (unsecured) · currency: CAD
- unsecured creditorsnote: Deemed trust/CRA claim; claim is preliminary and subject to review and potential adjustment as Company brings tax filings current · page: 10 · basis: CRA proof of claim · amount: 376291 · debtor: Dynamic Restoration Ltd. · creditor: Canada Revenue Agency - GST/HST (unsecured) · currency: CAD
- unsecured creditorsnote: Document names no individual creditors; based on Company's internal books and records; no claims process currently exists under these NOI Proceedings · page: 11 · as of: NOI filing date · basis: NOI included estimated unsecured creditors, primarily representing various suppliers of the Company · amount: 176291 · debtor: Dynamic Restoration Ltd. · creditor: Unsecured creditors (aggregate as reported in NOI) · currency: CAD
- cash on handnote: Differs from the Internal Balance Sheet's reported cash of $716,726, which does not reconcile to bank statements. · as at: 2026-09-04 · amount: 177156 · currency: CAD · qualifier: aggregate balance in the Company's bank accounts
- disbursementsnote: Actual operating costs for the first two weeks of the 13-week Cash Flow, compared against a projected $80,163. · since: August 22, 2026 (Cash Flow projection start / NOI period) · amount: 181405 · currency: CAD
- financial positionnote: Assets: Cash and Cash Equivalents $716,726; Accounts Receivable $889,697; Other Current Assets $11,427; Total Current Assets $1,617,850; Net PP&E $43,753; Total Assets $1,661,603. Cash balance of $716,726 did not reconcile to bank statements - actual aggregate bank balance as of Sept 4, 2026 was $177,156. Accounts receivable ledger as of Sept 9, 2026 reported $929,649, exceeding the balance sheet figure. Motor vehicles and equipment subject to security registrations not reported on the Internal Balance Sheet and no forced liquidation value obtained. CRA proof of claim totals approximately $1.5 million ($1,510,560), including unsecured GST/HST $376,291, unsecured payroll $386,784, and priority claim under s.60(1.1) of $747,485. · as at: 2026-08-14 · basis: Internal, unaudited balance sheet prepared by the Company; not subject to review or audit procedures · scope: entity - Dynamic Restoration Ltd. · currency: CAD · total assets: 1661603
- operational summaryThe Company has continued operating in the normal course as a construction/restoration contractor since filing the NOI, working to update its books and records and outstanding CRA tax filings, and is seeking a stay extension to formulate a proposal to creditors.
- receipts cumulativenote: Actual cash inflows for the first two weeks of the 13-week Cash Flow, compared against a projected $145,000. · since: August 22, 2026 (Cash Flow projection start / NOI period) · amount: 321114 · currency: CAD
- report date11 September 2026
- report noFirst Report