Ontario · NOI
Report to Court for Approval of Proposal
Court officer report · 18 July 2022
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What we verified from this filing11 verified
- courtONTARIO SUPERIOR COURT OF JUSTICE IN BANKRUPTCY AND INSOLVENCY
- court file no31-2813907
- appointeeRosen Goldberg Inc.
- appointee roleLicensed Insolvency Trustee
- commencement date18 March 2022
- provinceONTARIO
- statutory basisSection 54(2)(d) of the Bankruptcy and Insolvency Act
- financial positionnote: Report to Court (p.4) states liabilities per sworn Statement of Affairs as at May 9, 2022 (proposal filing date): Secured $3,319,061; Preferred NIL; Unsecured $1,687,929. Assets as at May 9, 2022 consisted of cash in bank (estimated realizable value $125,000), machinery/equipment/tools (estimated realizable value $1,800,000), and a $1 loan receivable from related party 2324788 Ontario Inc. No stated total assets figure given (book/face values, not summed by document). · page: 6 · as at: 2022-05-09 · basis: sworn statement of affairs · scope: Dietron Tool & Die Inc. (entity level) · currency: CAD
- secured creditorsnote: Related corporation; Report to Court states amount owed approximately $4,760, which conflicts with the exact figure of $94,759.66 shown on the NOI creditor list - discrepancy noted in source documents. · page: 13 · as of: NOI filing date · amount: 94759.66 · debtor: Dietron Tool & Die Inc. · creditor: 5014152 Ontario Inc. · currency: CAD · security: General security agreement
- secured creditorsnote: Related party/corporation; Report to Court states amount owed approximately $1,164,273, consistent with exact figure in creditor list. · page: 13 · as of: NOI filing date · amount: 1164272.93 · debtor: Dietron Tool & Die Inc. · creditor: 1423636 Ontario Inc. · currency: CAD · security: General security agreement
- secured creditorsnote: Report to Court states RBC is owed approximately $2,060,000 and holds a first charge on Dietron's assets; NOI creditor list (as of March 17, 2022) shows $2,200,000.00. Legal opinion confirms RBC has a validly perfected security interest. · page: 16 · as of: NOI filing date · amount: 2200000 · debtor: Dietron Tool & Die Inc. · creditor: Royal Bank of Canada (RBC) · currency: CAD · security: First charge on the assets of Dietron