Ontario · Bankruptcy
Notice to Creditors
Notice to creditors · 5 November 2024
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 filing15 verified
- appointeeMNP Ltd.
- appointee roletrustee
- commencement date31 October 2024
- court file no31-3147879
- provinceOntario
- financial positionnote: Assets: deposits at CIBC $3,316.83 and accounts receivable (total $8,149.98, estimated realizable $3,992.50); all other asset categories $0.00. Liabilities: secured $3,316.83, preferred $0.00, unsecured $476,215.73, contingent $0.00. Deficiency stated as -$472,223.23 (the liabilities box also labels $472,223.23 as 'Surplus'). Reasons for financial difficulty ticked: negative market conditions, economic downturn, lack of working capital/funding. Trustee's listing is as reported by the debtor; no proofs of claim yet filed at the date of the notice. · page: 4 · as at: 2024-10-30 · basis: Form 78 Statement of Affairs (Corporate Bankruptcy), 'as stated and estimated by bankrupt/debtor', sworn remotely by director Sidney Tan on 30 October 2024 · scope: T Plus Studio Inc., single entity (unconsolidated) · currency: CAD · total assets: 7309.33 · total liabilities: 479532.56
- secured creditorsnote: Secured portion only of a CPP/EI source-deductions claim totalling $361,240.38 (unsecured portion $357,923.55); liability dated 31-Dec-2019. Secured amount equals the cash on deposit at CIBC ($3,316.83). Form 78 statement of affairs as sworn by the director; no ground for priority stated in the priority column. · page: 6 · as of: 2024-10-30 · amount: 3316.83 · debtor: T Plus Studio Inc. · creditor: CRA: Source Deductions · currency: CAD · security: Asset securing the liability shown as items 101, 1301, 501 (deposits in financial institutions; Brandshare sublease account receivable; leasehold improvement)
- unsecured creditorsnote: Canada Emergency Business Account loan; listed as unsecured despite being the bank where the debtor held its deposit account. · page: 6 · as of: 2024-10-30 · basis: Form 78 Statement of Affairs as reported; listed as unsecured, nature 'CEBA' · amount: 40000 · debtor: T Plus Studio Inc. · creditor: CIBC Bank · currency: CAD
- unsecured creditorspage: 6 · as of: 2024-10-30 · basis: Form 78 Statement of Affairs as reported; accountant · amount: 565 · debtor: T Plus Studio Inc. · creditor: Bee Accurate Bookkeeping Services · currency: CAD
- unsecured creditorsnote: Listed in the unsecured column; no priority or deemed-trust claim indicated in the Form 78. · page: 6 · as of: 2024-10-30 · basis: Form 78 Statement of Affairs as reported; nature 'Taxes Federal/Provincial/Municipal', HST · amount: 276.86 · debtor: T Plus Studio Inc. · creditor: CRA - GST/HST · currency: CAD
- unsecured creditorsnote: Liability dated 31-Dec-2019. Secured portion $3,316.83 listed separately. Not flagged in the document as deemed trust; nature of liability given as 'Other' (CPP/EI). · page: 6 · as of: 2024-10-30 · basis: Form 78 Statement of Affairs as reported (sworn by director, 2024-10-30); unsecured portion of total claim $361,240.38 · amount: 357923.55 · debtor: T Plus Studio Inc. · creditor: CRA: Source Deductions (CPP/EI) · currency: CAD
- unsecured creditorsnote: Listed with $0.00 claim and marked placeholder (notification only). · page: 6 · as of: 2024-10-30 · basis: Form 78 Statement of Affairs as reported; web host · debtor: T Plus Studio Inc. · creditor: Site Ascent (13124592 Canada inc.) · currency: CAD
- unsecured creditorsnote: Listed with $0.00 claim and marked placeholder (notification only); no wage priority amount stated. · page: 6 · as of: 2024-10-30 · basis: Form 78 Statement of Affairs as reported; staff · debtor: T Plus Studio Inc. · creditor: Miguel Gonzales · currency: CAD
- unsecured creditorsnote: Listed with $0.00 claim and marked placeholder (notification only); no wage priority amount stated. · page: 6 · as of: 2024-10-30 · basis: Form 78 Statement of Affairs as reported; staff · debtor: T Plus Studio Inc. · creditor: Micheal Serino · currency: CAD
- unsecured creditorsnote: Name suggests possible relationship to the director (Sidney Tan); the document does not state whether it is a related party. · page: 6 · as of: 2024-10-30 · basis: Form 78 Statement of Affairs as reported; 'Insurance switch' · amount: 77450.32 · debtor: T Plus Studio Inc. · creditor: Gio Tan Design Inc. · currency: CAD