Ontario · NOI
Trustee’s Preliminary Report to Creditors
Court officer report · 6 March 2025
A plain-language read of this filing opens with a subscription.
What we verified from this filing5 verified
- closing confirmedscope: certain of the Company's Accounts Receivable and Holdback receivables related to two projects that were incomplete · outcome: completed · purchaser: Autogene Industries North Bay Inc. · date basis: unstated
- financial positionnote: Assets per Statement of Affairs: Cash $139,000, Accounts receivable $150,000, Holdbacks $1,000,000, Total $1,289,000; cash excludes reserves held separately for potential Construction Act trust claims; AR/holdbacks exclude ~$2.6 million in disputed amounts (incl. ~$1.8 million to Alberco). Liabilities per Statement of Affairs: Secured $8,524,558.43, Unsecured $4,150,310.01, Contingent $1.00, Total $12,674,868.44; amounts actually filed with Trustee to date differ (Unsecured filed $1,392,956.21, Total filed $1,392,956.21). · as at: 2025-02-15 · basis: Statement of Affairs; assets valued at estimated realizable value, liabilities as per Statement of Affairs (unaudited, prepared from Company books and records) · scope: entity-level: 1510610 Ontario Inc. o/a Central Welding & Iron Works · currency: CAD · total assets: 1289000 · total liabilities: 12674868.44
- purchaserAutogene Industries North Bay Inc.
- recovery outcomeentries: basis: estimated · quote: In the event that all of that security granted by the Company is found to be valid, enforceable and properly perfected, the Trustee anticipates that the debt owing to the secured creditors will exceed the amount of the realizations, and that there will be no distributions to general unsecured creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: general unsecured creditors · interim final: unstated · conditional on: In the event that all of that security granted by the Company is found to be valid, enforceable and properly perfected · claims qualifier: unstated · table missing:
- sale outcometext: there were no offers on the Company's assets through the SISP · scope: whole_business · status: no_acceptable_bid