Ontario · Bankruptcy
Trustee's Report to the First Meeting of Creditors on Preliminary Administration [ ]
Court officer report · 14 September 2021
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 filing8 verified
- proceeding typebia_bankruptcy
- provinceOntario
- appointeeKPMG Inc.
- appointee roletrustee
- commencement date24 August 2021
- statutory basisBankruptcy and Insolvency Act (Canada)
- statutory basisBankruptcy and Insolvency Act (Canada)
- financial positionnote: Only components stated, no total given: realizable assets = cash of approximately $15,000 as at Date of Bankruptcy (Aug 24, 2021), later increased to actual cash balance of $129,186 as at date of report due to a $115,485 tax refund deposit; preferred creditor claim of $45,476 (rent arrears); approximately 37 unsecured creditors with claims totalling approximately $593,155 (per Statement of Affairs); Statement of Affairs indicates no known secured creditors as at Date of Bankruptcy. · basis: Statement of Affairs / book value estimate as at Date of Bankruptcy, updated by Trustee's own subsequent findings · scope: entity - Telemus Systems Inc. · currency: CAD