Ontario · Receivership (court-appointed)
Preliminary Report of Trustee
Court officer report · 19 February 2025
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What we verified from this filing7 verified
- appointeeMNP Ltd.
- appointee roleLicenced Insolvency Trustee
- commencement date28 January 2025
- court file no35-3179293
- provinceOntario
- financial positionnote: Table gives claims 'Per Statement of Affairs' totalling $1,704,804 versus 'Proven' claims totalling $500,268 (Deemed Trust nil/nil, Secured $975,000/$64,590, Preferred nil/$138,795, Unsecured $729,804/$361,473). No total assets figure stated; components mentioned separately: inventory expected realizations ~$375,000, accounts receivable book value ~$4,860 at date of bankruptcy. · basis: Per Statement of Affairs · scope: entity (2573852 Ontario Inc.) · currency: CAD · total liabilities: 1704804
- recovery outcomeentries: basis: estimated · quote: It is expected there will be a shortfall to the Bank on its secured claim so therefore no distribution is expected to unsecured creditors through the bankruptcy. · pct of: unstated · outcome: shortfall · class key: secured · stated by: receiver · class label: the Bank · creditor name: Bank of Montreal · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: It is expected there will be a shortfall to the Bank on its secured claim so therefore no distribution is expected to unsecured creditors through the bankruptcy. · pct of: unstated · outcome: nil · class key: unsecured · stated by: receiver · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated · stated on: 2025-02-19 · table missing: