Ontario · Bankruptcy
Trustee's Preliminary Report
Court officer report · undated
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What we verified from this filing13 verified
- appointeeDeloitte Restructuring Inc.
- appointee roleTrustee
- commencement date10 February 2023
- court file no31-2910487
- proceeding typebia_bankruptcy
- provinceONTARIO
- secured creditorsnote: Vehicle lease with option to buy; no balance stated. Statement of Affairs reports secured creditors amount of $1 (nominal), which does not align to this specific creditor. · page: 2 · debtor: SpaceRyde Inc. · creditor: Ford Credit Canada Leasing · currency: CAD · security: Registered as secured party on PPSA re: 2021 Ford F150 vehicle lease
- financial positionnote: Total assets figure is estimated realizable value per Trustee's preliminary evaluation (cost basis totalled $3,491,100). Total liabilities of $10,807,925 is per Statement of Affairs; a second liabilities figure of $1,575,013 reflects claims actually filed as of March 1, 2023 and is not a Statement of Affairs total. · page: 4 · as at: 2023-02-10 · basis: Statement of Affairs; assets shown at cost and estimated realizable value, liabilities per Statement of Affairs (total provable claims); liabilities also separately reported at $1,575,013 as of March 1, 2023 based on claims filed to date · scope: SpaceRyde Inc. (single entity, Concord and Trent Hills locations) · currency: CAD · total assets: 2061325 · total liabilities: 10807925
- statutory basisBankruptcy and Insolvency Act
- unsecured creditorsnote: Document names no individual creditors; separate figure of $1,169,443 represents claims filed as of March 1, 2023 (proofs of claim filed to date), labelled as such. · page: 4 · as of: Statement of Affairs · basis: Statement of Affairs as reported · amount: 3541991 · debtor: SpaceRyde Inc. · creditor: Unsecured creditors (aggregate as reported) · currency: CAD
- unsecured creditorsnote: Preferred claim per BIA ranking; proofs of claim filed as of March 1, 2023 total $3,570, labelled as such. Document names no individual creditor. · page: 4 · as of: Statement of Affairs · basis: Statement of Affairs as reported · amount: 143338 · debtor: SpaceRyde Inc. · creditor: Preferred creditor (aggregate as reported) · currency: CAD
- unsecured creditorsnote: Category described as 'Other claimants'; includes claims by former CEO (promissory note, admitted, ranked pari passu with unsecured per s.137 BIA) and former COO (lease agreement claim, under review). Proofs of claim filed as of March 1, 2023 total $402,000, labelled as such. Document names no individual creditors in this aggregate. · page: 4 · as of: Statement of Affairs · basis: Statement of Affairs as reported · amount: 7122596 · debtor: SpaceRyde Inc. · creditor: Other claimants (aggregate as reported) · currency: CAD
- recovery outcomeentries: basis: unstated · quote: Based on the information on the Statement of Affairs, the proofs of claim file to date, and the uncertainty of the net realizable value of machinery, equipment and furniture, the Trustee is unable to estimate at this time the amount that may be available for distribution to SpaceRyde's creditors. · pct of: unstated · outcome: undetermined · stated by: trustee · class label: SpaceRyde's creditors · interim final: unstated · claims qualifier: unstated · stated on: 2023-03-01 · table missing: