Ontario · Bankruptcy
Trustee's Preliminary Report dated
Court officer report · 9 May 2024
What we verified from this filing10 verified
- appointeeMNP Ltd.
- appointee roleLicensed Insolvency Trustee
- commencement date22 April 2024
- court file no32 - 3070348
- provinceOntario
- financial positionnote: Total liabilities of $742,402.75 is the sum of Secured ($233,705.00), Preferred ($1), and Unsecured ($508,696.75) per Statement of Affairs, as stated in the document's own table; Proven & Filed to October 26, 2023 totals only $264.31. · page: 2 · basis: Statement of Affairs (estimated liquidation value of assets); Trustee subsequently discovered restaurant equipment had been sold prior to bankruptcy filing, details pending · scope: Simandal Int'l Limited (single entity) · currency: CAD · total assets: 8000 · total liabilities: 742402.75
- secured creditorsnote: Per Statement of Affairs; no proof of claim filed by CIBC to date (Proven & Filed to October 26, 2023: Nil). Any recovery from preference claim against Ms. Wong likely subject to CIBC's secured claim if filed. · page: 2 · as of: Statement of Affairs · amount: 233705 · debtor: Simandal Int'l Limited · creditor: Canadian Imperial Bank of Commerce (CIBC) · currency: CAD · security: PPSA registration over all assets of the Company; CIBC Security Agreement
- unsecured creditorsnote: Preferred claim class per BIA; ranks ahead of ordinary unsecured. Proven & Filed to October 26, 2023: Nil. Document names no individual creditor. · page: 2 · as of: Statement of Affairs · basis: Per Statement of Affairs · amount: 1 · debtor: Simandal Int'l Limited · creditor: Preferred creditors (aggregate as reported) · currency: CAD
- unsecured creditorsnote: Document names no individual unsecured creditors. Proven & Filed to October 26, 2023 was only $264.31 - proofs of claim filed figure, distinct from the reported Statement of Affairs figure. · page: 2 · as of: Statement of Affairs · basis: Per Statement of Affairs · amount: 508696.75 · debtor: Simandal Int'l Limited · creditor: Unsecured creditors (aggregate as reported) · currency: CAD
- recovery outcomeentries: basis: estimated · quote: The Trustee does not anticipate any distribution to unsecured creditors at this time. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: unsecured creditors · interim final: unstated · conditional on: at this time · claims qualifier: unstated · stated on: 2024-05-09 · table missing: