Ontario · NOI
Notice of Proposal to Creditors
Notice to creditors · 11 December 2018
A plain-language read of this filing opens with a subscription.
What we verified from this filing27 verified
- financial positionnote: Deficiency of $2,663,664.44 stated. Liabilities comprise: unsecured creditors per list A $357,983.68, balance of secured claims per list B $2,305,679.76 (total unsecured creditors $2,663,663.44), secured creditors per list B $500,486.24, preferred creditors per list C $0.00, contingent/trust claims per list D $1.00. · page: 16 · as at: 2018-11-09 · basis: Statement of Affairs (Form 78), as stated and estimated by the officer · scope: Markdale Aggregates Inc. (entity level) · currency: CAD · total assets: 500486.24 · total liabilities: 3164150.68
- unsecured creditorspage: 17 · as of: 2018-11-09 · basis: Statement of Affairs, List 'A' Unsecured Creditors, as stated and estimated by the officer · amount: 207.44 · debtor: Markdale Aggregates Inc. · creditor: 407 ETR Express Toll Route · currency: CAD
- unsecured creditorspage: 17 · as of: 2018-11-09 · basis: Statement of Affairs, List 'A' Unsecured Creditors, as stated and estimated by the officer · amount: 18367.52 · debtor: Markdale Aggregates Inc. · creditor: Active Scale Manufacturing Inc. · currency: CAD
- unsecured creditorspage: 17 · as of: 2018-11-09 · basis: Statement of Affairs, List 'A' Unsecured Creditors, as stated and estimated by the officer · amount: 8128.86 · debtor: Markdale Aggregates Inc. · creditor: ARG Group Inc. · currency: CAD
- unsecured creditorspage: 17 · as of: 2018-11-09 · basis: Statement of Affairs, List 'A' Unsecured Creditors, as stated and estimated by the officer · amount: 56227.95 · debtor: Markdale Aggregates Inc. · creditor: Arthurs Fuel · currency: CAD
- unsecured creditorspage: 17 · as of: 2018-11-09 · basis: Statement of Affairs, List 'A' Unsecured Creditors, as stated and estimated by the officer · amount: 38399.52 · debtor: Markdale Aggregates Inc. · creditor: Bird Fuels · currency: CAD
- unsecured creditorspage: 17 · as of: 2018-11-09 · basis: Statement of Affairs, List 'A' Unsecured Creditors, as stated and estimated by the officer · amount: 84.36 · debtor: Markdale Aggregates Inc. · creditor: Cardinal Couriers Ltd. · currency: CAD
- unsecured creditorsnote: Listed at $0.00 unsecured claim · page: 17 · as of: 2018-11-09 · basis: Statement of Affairs, List 'A' Unsecured Creditors, as stated and estimated by the officer · amount: 0 · debtor: Markdale Aggregates Inc. · creditor: CRA - Tax - Ontario · currency: CAD
- unsecured creditorspage: 17 · as of: 2018-11-09 · basis: Statement of Affairs, List 'A' Unsecured Creditors, as stated and estimated by the officer · amount: 637.96 · debtor: Markdale Aggregates Inc. · creditor: Fastenal Canada Ltd. · currency: CAD
- unsecured creditorspage: 17 · as of: 2018-11-09 · basis: Statement of Affairs, List 'A' Unsecured Creditors, as stated and estimated by the officer · amount: 596.08 · debtor: Markdale Aggregates Inc. · creditor: GM BluePlan Engineering Limited · currency: CAD
- unsecured creditorspage: 17 · as of: 2018-11-09 · basis: Statement of Affairs, List 'A' Unsecured Creditors, as stated and estimated by the officer · amount: 10397.5 · debtor: Markdale Aggregates Inc. · creditor: Grey Northern Powerline Inc. · currency: CAD
- unsecured creditorspage: 17 · as of: 2018-11-09 · basis: Statement of Affairs, List 'A' Unsecured Creditors, as stated and estimated by the officer · amount: 4633 · debtor: Markdale Aggregates Inc. · creditor: Kreator Equipment & Services Inc. · currency: CAD
- unsecured creditorspage: 17 · as of: 2018-11-09 · basis: Statement of Affairs, List 'A' Unsecured Creditors, as stated and estimated by the officer · amount: 70127.19 · debtor: Markdale Aggregates Inc. · creditor: Miller Thomson LLP · currency: CAD
- unsecured creditorsnote: Listed at $0.00 unsecured claim · page: 17 · as of: 2018-11-09 · basis: Statement of Affairs, List 'A' Unsecured Creditors, as stated and estimated by the officer · amount: 0 · debtor: Markdale Aggregates Inc. · creditor: Ministry of Finance - ON PST, EHT & Other Taxes · currency: CAD
- unsecured creditorspage: 17 · as of: 2018-11-09 · basis: Statement of Affairs, List 'A' Unsecured Creditors, as stated and estimated by the officer · amount: 37514.33 · debtor: Markdale Aggregates Inc. · creditor: Powerscreen of Canada Ltd. · currency: CAD
- unsecured creditorspage: 17 · as of: 2018-11-09 · basis: Statement of Affairs, List 'A' Unsecured Creditors, as stated and estimated by the officer · amount: 8047.78 · debtor: Markdale Aggregates Inc. · creditor: RSI Truck & Trailer Repair Inc. · currency: CAD
- unsecured creditorspage: 17 · as of: 2018-11-09 · basis: Statement of Affairs, List 'A' Unsecured Creditors, as stated and estimated by the officer · amount: 748.06 · debtor: Markdale Aggregates Inc. · creditor: Silver Top Supply Limited · currency: CAD
- unsecured creditorspage: 17 · as of: 2018-11-09 · basis: Statement of Affairs, List 'A' Unsecured Creditors, as stated and estimated by the officer · amount: 564.71 · debtor: Markdale Aggregates Inc. · creditor: Steer Enterprises Ltd. · currency: CAD
- unsecured creditorsnote: Related party: parent company to the Debtor. Listed with unsecured claim $0.00 and balance of claim $2,305,679.76 (shortfall after security applied per List 'B' Secured Creditors); bifurcated secured/unsecured position · page: 17 · as of: 2018-11-09 · basis: Statement of Affairs, List 'A' Unsecured Creditors, as stated and estimated by the officer · amount: 2305679.76 · debtor: Markdale Aggregates Inc. · creditor: Tiber Markdale Resources Inc. · currency: CAD
- unsecured creditorspage: 17 · as of: 2018-11-09 · basis: Statement of Affairs, List 'A' Unsecured Creditors, as stated and estimated by the officer · amount: 99202.46 · debtor: Markdale Aggregates Inc. · creditor: Tri-County Aggregates Ltd. · currency: CAD
- unsecured creditorspage: 17 · as of: 2018-11-09 · basis: Statement of Affairs, List 'A' Unsecured Creditors, as stated and estimated by the officer · amount: 4097.96 · debtor: Markdale Aggregates Inc. · creditor: Wayne Spears Electric Limited · currency: CAD
- unsecured creditorsnote: Listed at $0.00 unsecured claim · page: 17 · as of: 2018-11-09 · basis: Statement of Affairs, List 'A' Unsecured Creditors, as stated and estimated by the officer · amount: 0 · debtor: Markdale Aggregates Inc. · creditor: Workplace Safety and Insurance Board · currency: CAD
- unsecured creditorspage: 17 · as of: 2018-11-09 · basis: Statement of Affairs, List 'A' Unsecured Creditors, as stated and estimated by the officer · amount: 1 · debtor: Markdale Aggregates Inc. · creditor: Wilton Sanitation Inc · currency: CAD
- secured creditorsnote: Estimated value of security $39,050.00 total; balance of claim shown as nil after security value equals claim amount · page: 18 · as of: 2018-11-09 · amount: 39050 · debtor: Markdale Aggregates Inc. · creditor: RBC Royal Bank / Banque Royale · currency: CAD · security: Motor Vehicles - Automobile - 2017 GMC Sierra SLE 1500 (1GTV2MEC2GZ157013); 2013 GMC Sierra SLE 1500 (3GTP2VE74DG255652); 2013 GMC Sierra SLT 1500 (3GTP1WE73DG322828)
- secured creditorsnote: Related party: parent company to the Debtor, defined as 'Related Creditor' in the Proposal (Art. 1.1(z)); per Art. 2.6 receives no dividend under the Proposal as a Secured Creditor · page: 18 · as of: 2018-11-09 · amount: 2305679.76 · debtor: Markdale Aggregates Inc. · creditor: Tiber Markdale Resources Inc. · currency: CAD · security: Business assets - stock in trade/inventory; debts due (accounts receivable); motor vehicle (2017 GMC Sierra SLE 1500, 1GTV2MEC2GZ157013). Amount of claim stated as $2,767,116.00
- unsecured creditorsnote: Contingent claim; amount expected to rank for dividend shown as $0.00 · page: 19 · as of: 2018-11-09 · basis: Statement of Affairs, List 'D' Contingent or Other Liabilities, as stated and estimated by the officer · amount: 1 · debtor: Markdale Aggregates Inc. · creditor: Aggregate Processing Services Ltd. · currency: CAD
- recovery outcomeentries: basis: plan · quote: The Proven Claims of the Preferred Creditors are to be paid in full in priority to the Proven Claims of the Unsecured Creditors in accordance with the BIA and the Proposal. · pct of: unstated · outcome: paid_in_full · class key: preferred · stated by: debtor · class label: Preferred Creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: The Related Creditor, as a Secured Creditor, shall receive no dividend under this Proposal. · pct of: unstated · outcome: nil · class key: secured · stated by: debtor · class label: Related Creditor · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: | Estimated distribution to Unsecured Creditors | 9.95% | · pct of: unstated · outcome: distribution · pct low: 9.95 · pct high: 9.95 · class key: unsecured · stated by: trustee · amount low: 75000 · amount high: 75000 · class label: Unsecured Creditors · claims amount: 753889 · interim final: unstated · claims qualifier: estimated · stated on: 2018-12-11 · table missing: The anticipated realizations from a bankruptcy, per the SOA, are summarized below.