Ontario · Bankruptcy
Creditor's Package - 14234332 Canada Inc.
Meeting materials · 24 September 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 filing11 verified
- financial positionnote: Sole asset is $1.00 cash on hand (nominal placeholder). Liabilities: secured $1.00; preferred $0.00; unsecured $867,846.15; contingent/trust $0.00; deficiency -$867,846.15 (the form labels the same figure 'Surplus' 867,846.15 on the liabilities side, an evident form artefact). Reason for financial difficulty: 'Lack of Working Capital/Funding' and 'Other: Bankruptcy order issued'. The form header on page 4 shows Court/Estate No. 31-460738, differing from 31-3426768 elsewhere. Trustee's cover letter states it is unlikely there will be a distribution to any creditors. · page: 4 · as at: 2026-09-16 · basis: Statement of Affairs (Form 78), sworn/declared remotely by director Khalid Syed on 2026-09-16 (form describes the state of affairs 'on the date of the bankruptcy, on the 16th day of September 2026'; bankruptcy order/assignment date stated as 9 September 2026) · scope: Entity: 14234332 Canada Inc. only (unconsolidated) · currency: CAD · total assets: 1 · total liabilities: 867847.15
- secured creditorsnote: Summary page states secured creditors total $1.00 and the liability list's secured column totals $1.00; the itemised entries total $1.00 in the secured column (National Bank). Not a separate creditor; do not add to the above. · page: 4 · as of: 2026-09-16 · debtor: 14234332 Canada Inc. · creditor: Other secured creditor (unnamed) — Form 78 line 1 'Secured creditors' · currency: CAD
- secured creditorsnote: Statement of Affairs (sworn 2026-09-16, the date the form gives for the state of affairs) states total claim of $650,368.53, split as $650,367.53 unsecured and $1.00 secured; estimated deficit from security -$650,367.53. Claim is bifurcated secured/unsecured. Amount is the debtor's own reported figure (Statement of Affairs), not an admitted proof of claim. · page: 6 · as of: 2026-09-16 · amount: 650368.53 · debtor: 14234332 Canada Inc. · creditor: National Bank of Canada c/o Dickinson Wright LLP (Attn: Talya R. Bertler) · currency: CAD · security: Form 78 lists asset no. 101 (cash on hand, $1.00) as the asset securing the liability; date given/incurred 01-Jan-2025; nature of liability: Secured
- secured creditorsnote: Listed by debtor as 'Secured' ($1.00 placeholder amount, total claim $1.00; date given/incurred 01-Jan-2025). No security asset identified. Placeholder figure per the Statement of Affairs, not a quantified balance. · page: 6 · as of: 2026-09-16 · amount: 1 · debtor: 14234332 Canada Inc. · creditor: Ministry of Finance (Ontario), 347 Preston St., 3rd Floor, Toronto · currency: CAD
- unsecured creditorsnote: GST/HST account 713260503 RP0001; date given/incurred 01-Jan-2025. GST/HST is normally a Crown deemed-trust claim, but the debtor lists it as unsecured with no priority ground stated. Quasi-governmental claim; not proven by a proof of claim. · page: 6 · as of: 2026-09-16 · basis: Statement of Affairs (Form 78) as sworn by director, listed in the 'Unsecured' column · amount: 133419.88 · debtor: 14234332 Canada Inc. · creditor: CRA - GST/HST (Jonquiere; Attn: Quebec Insolvency Intake Centre) · currency: CAD
- unsecured creditorsnote: Unsecured portion of the bifurcated National Bank claim (total claim $650,368.53). Same debt as the secured entry, not an additional debt. · page: 6 · as of: 2026-09-16 · basis: Statement of Affairs (Form 78) as sworn by director; unsecured column of a claim also carrying a $1.00 secured portion · amount: 650367.53 · debtor: 14234332 Canada Inc. · creditor: National Bank of Canada c/o Dickinson Wright LLP (unsecured portion) · currency: CAD
- unsecured creditorsnote: $1.00 placeholder amount in the Statement of Affairs, not a quantified balance. · page: 6 · as of: 2026-09-16 · basis: Statement of Affairs (Form 78) as sworn by director; details 'Franchisor' · amount: 1 · debtor: 14234332 Canada Inc. · creditor: Popeyes Franchisor, 5707 Blue Lagoon Drive, Miami FL, USA · currency: CAD
- unsecured creditorsnote: Quasi-governmental claimant; no priority ground stated in the Statement of Affairs. · page: 6 · as of: 2026-09-16 · basis: Statement of Affairs (Form 78) as sworn by director; nature of liability 'Other', details 'AP' · amount: 39056.74 · debtor: 14234332 Canada Inc. · creditor: Ministry of Labour (Ontario), 410-70 Foster Drive, Sault Ste. Marie · currency: CAD
- unsecured creditorsnote: Individual creditor; relationship to the debtor not stated. · page: 6 · as of: 2026-09-16 · basis: Statement of Affairs (Form 78) as sworn by director; nature of liability 'Other', details 'AP' · amount: 45000 · debtor: 14234332 Canada Inc. · creditor: Muhammad Amjat (individual), Burlington ON · currency: CAD
- financial positionnote: Total assets of $1.00 is the sole listed asset, 'Cash on Hand' of $1.00 (cash on hand and in bank), shown as total value and estimated realizable value of $1.00. Liabilities: secured creditors 1.00, preferred creditors 0.00, unsecured creditors 867,846.15, contingent/trust claims 0.00; total liabilities shown as 867,847.15. Form 78 states a deficiency of $867,846.15 (equal to the stated surplus/deficiency line). The Form 78 text is partly garbled by a font-encoding fault; figures were read from the numeric cells and the List of Liabilities totals. · as at: 2026-09-09 · basis: Statement of Affairs (Form 78) as stated by the bankrupt and e-signed 2026-09-16; Original (not amended); the as-at date is the bankruptcy date of September 9, 2026; the trustee states it is unlikely there will be a distribution to any creditors · scope: 14234332 Canada Inc. (the bankrupt corporation), single entity · currency: CAD · total assets: 1 · total liabilities: 867847.15
- recovery outcomeentries: basis: estimated · quote: Based on the Trustee's review of the Company's Statement of Affairs and other available information, it is unlikely that there will be a distribution to any creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: creditors · interim final: unstated · claims qualifier: unstated · stated on: 2026-09-24 · table missing: