Quebec · NOI
Report of the Trustee on the Financial Situation of the Debtor and on the Proposal
Court officer report · 4 August 2026
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 filing4 verified
- financial positionnote: Total assets of 1,277,342 is the bankruptcy-scenario estimated realizable total (cash 158,300; accounts receivable 725,000; loans receivable from related party 19,825; life insurance recoverable 374,216); the proposal column shows 750,000 available for distribution. No total liabilities figure is stated. Stated components of liabilities: estimated total unsecured claims 4,829,774 in bankruptcy (third-party 3,430,297; related-party 1,399,477) and 2,343,100 under the Proposal; potential priority claims 173,889 (bankruptcy) / 114,975 (proposal). Paragraph 21 states the Company does not have any remaining secured creditors; paragraph 15 states the Company no longer has any assets other than cash, a related party loan receivable, and life insurance policies. · as at: 2026-07-31 · basis: Unaudited; estimated realizable amounts in the Trustee's bankruptcy-scenario liquidation analysis (Bankruptcy vs. Proposal Analysis, Unaudited, CAD) · scope: Steve's Music Store Inc. (Debtor), single entity · currency: CAD · total assets: 1277342
- recovery outcomeentries: basis: plan · quote: Ordinary Creditors are expected to receive a blended distribution of approximately 27.1% under the Proposal. · pct of: unstated · outcome: distribution · pct low: 27.1 · pct high: 27.1 · class key: unsecured · stated by: proposal_trustee · class label: Ordinary Creditors · interim final: unstated · claims qualifier: unstated; basis: liquidation_alternative · quote: As illustrated above, the estimated recovery for unsecured creditors in the Proposal of 27.1% is higher than the estimated recovery in a bankruptcy of 17.5% · pct of: unstated · outcome: distribution · pct low: 17.5 · pct high: 17.5 · class key: unsecured · stated by: proposal_trustee · class label: Ordinary Creditors (unsecured creditors) in a bankruptcy · claims amount: 4829774 · interim final: unstated · claims qualifier: estimated · table missing:
- sale advisorCICI Détail Inc./CICI Retail Inc.
- sale outcometext: The Company proceeded with an auction of its remaining inventory on July 22 and 23, 2026, following a liquidation sale conducted with Continental from February to March 2026. · scope: liquidation · status: closed