Ontario · Bankruptcy
Trustee's Preliminary Report dated
Court officer report · 2 April 2024
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What we verified from this filing19 verified
- appointeeMNP Ltd.
- appointee rolereceiver and manager
- commencement date8 May 2023
- court file no32-3054264, 32-3054269, 31-3054341, 31-3054305, 32-3054239,32-3054259, 35-3054274, 31-3054285, 31-3054335
- provinceOntario
- secured creditorsnote: Amount owing as at Receiver's appointment date; Receiver's Fifth Report to Court (as at Jan 31, 2024) states secured debt of approximately $8.1 million plus accruing interest and costs; Proof of Claim filed by CWB as of April 2, 2024 claims $7,520,314 secured and $1,005,645 unsecured, admissibility not yet determined by Trustee · page: 1 · as of: 2023-05-08 · amount: 8141405.08 · debtor: Index Group (collectively) · creditor: Canadian Western Bank (CWB) · currency: CAD · security: First ranking security over all Property, per legal opinion of Dickinson Wright LLP
- financial positionnote: Net proceeds of $1,657,301 held by Receiver as at January 31, 2024, compared to CWB's secured debt of approximately $8.1 million plus accruing interest and costs; separately, Receiver states it currently holds $1.7 million, all subject to statutory priority claims and CWB security interest · page: 2 · as at: 2024-01-31 · basis: Receiver's Fifth Report to Court · scope: Index Group (collectively), net proceeds of realizations of substantially all Property · currency: CAD · total assets: 1657301
- secured creditorsnote: Per Proof of Claim filed as of 5:00 pm April 2, 2024; admissibility not yet determined by Trustee · page: 3 · as of: 2024-04-02 · amount: 7520314 · debtor: Index Group (collectively) · creditor: Canadian Western Bank (CWB) · currency: CAD · security: First ranking security over all Property, per legal opinion of Dickinson Wright LLP
- unsecured creditorsnote: Unsecured portion of CWB's claim; admissibility not yet determined by Trustee · page: 3 · as of: 2024-04-02 · basis: Proof of Claim filed as of 5:00 pm April 2, 2024 · amount: 1005645 · debtor: Index Group (collectively) · creditor: Canadian Western Bank (CWB) · currency: CAD
- unsecured creditorsnote: Document names no individual creditors for this entity · page: 4 · as of: 2024-03-20 · basis: Statement of Affairs as reported (Appendix A to Preliminary Report) · amount: 3 · debtor: 11030418 Canada Inc. · creditor: Unsecured creditors (aggregate as reported) - 11030418 Canada Inc. · currency: CAD
- unsecured creditorsnote: Document names no individual creditors for this entity · page: 4 · as of: 2024-03-20 · basis: Statement of Affairs as reported (Appendix A to Preliminary Report) · amount: 13 · debtor: Index Foods Inc. · creditor: Unsecured creditors (aggregate as reported) - Index Foods Inc. · currency: CAD
- unsecured creditorsnote: Document names no individual creditors for this entity · page: 4 · as of: 2024-03-20 · basis: Statement of Affairs as reported (Appendix A to Preliminary Report) · amount: 3 · debtor: Index Holding Group Inc. · creditor: Unsecured creditors (aggregate as reported) - Index Holding Group Inc. · currency: CAD
- unsecured creditorsnote: Document names no individual creditors for this entity · page: 4 · as of: 2024-03-20 · basis: Statement of Affairs as reported (Appendix A to Preliminary Report) · amount: 3 · debtor: 2737332 Ontario Inc. · creditor: Unsecured creditors (aggregate as reported) - 2737332 Ontario Inc. · currency: CAD
- unsecured creditorsnote: Document names no individual creditors for this entity · page: 4 · as of: 2024-03-20 · basis: Statement of Affairs as reported (Appendix A to Preliminary Report) · amount: 14 · debtor: 2775290 Ontario Inc. · creditor: Unsecured creditors (aggregate as reported) - 2775290 Ontario Inc. · currency: CAD
- unsecured creditorsnote: Document names no individual creditors for this entity · page: 4 · as of: 2024-03-20 · basis: Statement of Affairs as reported (Appendix A to Preliminary Report) · amount: 8375151 · debtor: Index International Inc. · creditor: Unsecured creditors (aggregate as reported) - Index International Inc. · currency: CAD
- unsecured creditorsnote: Document names no individual creditors for this entity · page: 4 · as of: 2024-03-20 · basis: Statement of Affairs as reported (Appendix A to Preliminary Report) · amount: 19 · debtor: 11030434 Canada Inc. · creditor: Unsecured creditors (aggregate as reported) - 11030434 Canada Inc. · currency: CAD
- unsecured creditorsnote: Document names no individual creditors for this entity · page: 4 · as of: 2024-03-20 · basis: Statement of Affairs as reported (Appendix A to Preliminary Report) · amount: 3 · debtor: 421 Wharncliffe Ltd. · creditor: Unsecured creditors (aggregate as reported) - 421 Wharncliffe Ltd. · currency: CAD
- unsecured creditorsnote: Document names no individual creditors for this entity · page: 4 · as of: 2024-03-20 · basis: Statement of Affairs as reported (Appendix A to Preliminary Report) · amount: 342139 · debtor: 2700774 Ontario Inc. · creditor: Unsecured creditors (aggregate as reported) - 2700774 Ontario Inc. · currency: CAD
- recovery outcomeentries: basis: estimated · quote: For reasons set out above, CWB will suffer a shortfall on its security. · pct of: unstated · outcome: shortfall · class key: secured · stated by: trustee · class label: CWB · creditor name: Canadian Western Bank · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: Accordingly, there will not be a distribution to any creditors whose claims are subordinate to CWB. · pct of: unstated · outcome: nil · stated by: trustee · class label: creditors whose claims are subordinate to CWB · interim final: unstated · claims qualifier: unstated · stated on: 2024-04-02 · table missing: