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 filing2 verified
- financial positionnote: A consolidated unaudited balance sheet as at June 30, 2019 including the Subsidiaries shows Total Assets of $2,431,186 and Total Liabilities of $1,600,644. Statement of Affairs as at NOI filing date (March 7, 2019 / sworn August 16, 2019) shows Total assets $924,103.00 and Total liabilities $1,178,765.26 with a deficiency of $254,662.26. · as at: 2019-06-30 · basis: unaudited non-consolidated interim balance sheet · scope: entity - Commerx Corporation (non-consolidated, excluding Subsidiaries) · currency: CAD · total assets: 1527159 · total liabilities: 1503765
- recovery outcomeentries: basis: plan · quote: Unsecured Creditors with Proven Claims will receive 100% of their Proven Claim, paid as follows: · pct of: proven_claims · outcome: paid_in_full · pct low: 100 · pct high: 100 · class key: unsecured · stated by: proposal_trustee · class label: Unsecured Creditors · interim final: unstated · conditional on: By December 1, 2019, initial payment equal to lesser of 100% of Proven Claim or $2,000; balance paid via quarterly prorated payments over two years · claims qualifier: unstated; basis: plan · quote: CRA claims for employee source deductions (but not GST or income tax payable claims generally) which are proven, will be paid in full without interest or penalty within 6 months of Court approval of the Proposal as required by S. 60(1.1) of the Act. · pct of: unstated · outcome: paid_in_full · pct low: 100 · pct high: 100 · class key: deemed_trust · stated by: proposal_trustee · class label: CRA claims for employee source deductions · claims amount: 39000 · creditor name: Canada Revenue Agency · interim final: unstated · conditional on: within 6 months of Court approval of the Proposal · claims qualifier: estimated · stated on: 2019-08-16 · table missing: