Ontario · Bankruptcy
Trustee's Report to the First Meeting of Creditors on Preliminary Administration [ ]
Court officer report · 25 June 2021
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What we verified from this filing10 verified
- appointeeKPMG Inc.
- appointee roletrustee
- commencement date11 June 2021
- proceeding typebia_bankruptcy
- provinceOntario
- statutory basisBankruptcy and Insolvency Act (Canada)
- statutory basisBankruptcy and Insolvency Act (Canada)
- financial positionnote: SOA states realizable assets consisting of cash of approximately $445,000 and accounts receivable of $313,660 as at the Date of Bankruptcy — components only, no stated total, so not summed. SOA states 'there were no known secured creditors as at the Date of Bankruptcy' and 'there were no known preferred creditors as at the Date of Bankruptcy.' Separately, RBC (holder of the Company's cash deposits and a corporate credit card facility) advised on June 15, 2021 that approximately $8,200 was owed under the credit card facility, and RBC had not released the ~$445,000 cash on deposit pending discussion of potential rights against the balances. · page: 2 · as at: 2021-06-11 · basis: Statement of Affairs (unaudited); Trustee relied on unaudited financial information provided by the Company and RTI · scope: entity - Team Syntegrity Americas Inc. · currency: CAD
- unsecured creditorsnote: Includes approximately $14.6 million in claims from RTI and RTIS (parent/related companies) — related-party unsecured claims. Figure excludes any amount owing to the Landlord (Brookfield Place (Wellington) Limited), which separately holds a $136,000 letter of credit issued by the Company (no claim amount stated). Proofs of claim actually filed for unsecured claims totalled $15,648,805 (11 claims) as at the date of the report — a different, later-measured figure than the SOA-reported total, per Rule distinguishing reported vs. filed. Three claims asserting BIA s.136 priority (two former employees, one former consultant) were listed as unsecured in the SOA but filed as priority claims; Trustee had not resolved the discrepancy and admitted them as filed for voting purposes. Preferred proofs filed separately totalled $27,707 (3 claims), though the SOA itself indicated no known preferred creditors. · page: 3 · as of: Date of Bankruptcy (June 11, 2021) · basis: Statement of Affairs — approximately 45 unsecured creditors with claims totalling approximately $15,471,826 · amount: 15471826 · debtor: Team Syntegrity Americas Inc. · creditor: Unsecured creditors (aggregate as reported) · currency: CAD
- secured creditors