Ontario · Proposal

Notice of Bankruptcy

Notice to creditors · 25 April 2024

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financial positionnote: Total unsecured creditors $1,872,209.06 (including $210,000.00 balance of secured claims per List B), secured creditors $200,000.00, preferred creditors $35,334.04, contingent/other liabilities $0.00; deficiency stated as $1,907,543.10 (surplus: NIL) · page: 2 · as at: 2024-04-15 · basis: Statement of Affairs (Form 78) as stated and estimated by the officer · scope: entity - ITWORLD CANADA INC. · currency: CAD · total assets: 200000 · total liabilities: 2107543.1
unsecured creditorsnote: Notice only; see Estate of Fawn Annan · page: 3 · as of: 2024-04-15 · basis: Statement of Affairs List 'A' as reported · amount: 0 · debtor: ITWORLD CANADA INC. · creditor: Annan, Jim · currency: CAD
unsecured creditorspage: 3 · as of: 2024-04-15 · basis: Statement of Affairs List 'A' as reported · amount: 48000 · debtor: ITWORLD CANADA INC. · creditor: Atkinson, Michael · currency: CAD
unsecured creditorspage: 3 · as of: 2024-04-15 · basis: Statement of Affairs List 'A' as reported · amount: 9953.25 · debtor: ITWORLD CANADA INC. · creditor: Barker, Paul · currency: CAD
unsecured creditorspage: 3 · as of: 2024-04-15 · basis: Statement of Affairs List 'A' as reported · amount: 6665.46 · debtor: ITWORLD CANADA INC. · creditor: Barter Network · currency: CAD
unsecured creditorspage: 3 · as of: 2024-04-15 · basis: Statement of Affairs List 'A' as reported · amount: 12634.37 · debtor: ITWORLD CANADA INC. · creditor: Bell CPA & Associates · currency: CAD
unsecured creditorspage: 3 · as of: 2024-04-15 · basis: Statement of Affairs List 'A' as reported · amount: 5985 · debtor: ITWORLD CANADA INC. · creditor: Bow Business on Web · currency: USD
unsecured creditorsnote: CRA deemed-trust class claim reported separately on List 'C' also; this entry from List 'A' · page: 3 · as of: 2024-04-15 · basis: Statement of Affairs List 'A' as reported · amount: 12616.64 · debtor: ITWORLD CANADA INC. · creditor: CRA - Tax - Ontario (122605769RP0001) · currency: CAD
unsecured creditorspage: 3 · as of: 2024-04-15 · basis: Statement of Affairs List 'A' as reported · amount: 5484.03 · debtor: ITWORLD CANADA INC. · creditor: CRA - Tax - Ontario (122605769RT0001) · currency: CAD
unsecured creditorspage: 3 · as of: 2024-04-15 · basis: Statement of Affairs List 'A' as reported · amount: 300000 · debtor: ITWORLD CANADA INC. · creditor: Estate of Fawn Annan, c/o Goldstein Rosen & Rassos · currency: CAD
unsecured creditorspage: 3 · as of: 2024-04-15 · basis: Statement of Affairs List 'A' as reported · amount: 1 · debtor: ITWORLD CANADA INC. · creditor: Fraser, Donna · currency: CAD
unsecured creditorspage: 3 · as of: 2024-04-15 · basis: Statement of Affairs List 'A' as reported · amount: 7506.25 · debtor: ITWORLD CANADA INC. · creditor: Gaudette, Laura · currency: CAD
unsecured creditorspage: 3 · as of: 2024-04-15 · basis: Statement of Affairs List 'A' as reported · amount: 72094 · debtor: ITWORLD CANADA INC. · creditor: Greiner, Lynn · currency: CAD
unsecured creditorspage: 3 · as of: 2024-04-15 · basis: Statement of Affairs List 'A' as reported · amount: 216.11 · debtor: ITWORLD CANADA INC. · creditor: Gruske, Carolyn · currency: CAD
unsecured creditorspage: 3 · as of: 2024-04-15 · basis: Statement of Affairs List 'A' as reported · amount: 108102.13 · debtor: ITWORLD CANADA INC. · creditor: Gulf Pacific Property Management Ltd. · currency: CAD
unsecured creditorspage: 3 · as of: 2024-04-15 · basis: Statement of Affairs List 'A' as reported · amount: 1 · debtor: ITWORLD CANADA INC. · creditor: Hiraj, Daniel · currency: CAD
unsecured creditorspage: 3 · as of: 2024-04-15 · basis: Statement of Affairs List 'A' as reported · amount: 720.38 · debtor: ITWORLD CANADA INC. · creditor: Hoffer Adler LLP · currency: CAD
unsecured creditorspage: 3 · as of: 2024-04-15 · basis: Statement of Affairs List 'A' as reported · amount: 188842.02 · debtor: ITWORLD CANADA INC. · creditor: American Express c/o FCT Default Solutions · currency: CAD
unsecured creditorspage: 3 · as of: 2024-04-15 · basis: Statement of Affairs List 'A' as reported · amount: 30125.5 · debtor: ITWORLD CANADA INC. · creditor: Howard Soloman · currency: CAD
unsecured creditorspage: 4 · as of: 2024-04-15 · basis: Statement of Affairs List 'A' as reported · amount: 118957 · debtor: ITWORLD CANADA INC. · creditor: True QC LLC · currency: USD
unsecured creditorspage: 4 · as of: 2024-04-15 · basis: Statement of Affairs List 'A' as reported · amount: 5625 · debtor: ITWORLD CANADA INC. · creditor: Larue-Langlois, Renaud · currency: CAD
unsecured creditorspage: 4 · as of: 2024-04-15 · basis: Statement of Affairs List 'A' as reported · amount: 178041 · debtor: ITWORLD CANADA INC. · creditor: Mcbride, Brad, c/o Whitten & Lublin · currency: CAD
unsecured creditorspage: 4 · as of: 2024-04-15 · basis: Statement of Affairs List 'A' as reported · amount: 1440 · debtor: ITWORLD CANADA INC. · creditor: Opeyemi, Obanala · currency: CAD
unsecured creditorspage: 4 · as of: 2024-04-15 · basis: Statement of Affairs List 'A' as reported · amount: 3357.76 · debtor: ITWORLD CANADA INC. · creditor: Panchalingam, Mat · currency: CAD
unsecured creditorspage: 4 · as of: 2024-04-15 · basis: Statement of Affairs List 'A' as reported · amount: 142046.43 · debtor: ITWORLD CANADA INC. · creditor: Performance Advantage · currency: CAD
unsecured creditorspage: 4 · as of: 2024-04-15 · basis: Statement of Affairs List 'A' as reported · amount: 3276.97 · debtor: ITWORLD CANADA INC. · creditor: Post Media · currency: CAD
unsecured creditorspage: 4 · as of: 2024-04-15 · basis: Statement of Affairs List 'A' as reported · amount: 31375 · debtor: ITWORLD CANADA INC. · creditor: Radecki, Jeff · currency: CAD
unsecured creditorspage: 4 · as of: 2024-04-15 · basis: Statement of Affairs List 'A' as reported · amount: 1 · debtor: ITWORLD CANADA INC. · creditor: Roy, James · currency: CAD
unsecured creditorspage: 4 · as of: 2024-04-15 · basis: Statement of Affairs List 'A' as reported · amount: 8207.04 · debtor: ITWORLD CANADA INC. · creditor: RWAM · currency: CAD
unsecured creditorsnote: Distinct entry from same creditor's secured claim; unsecured portion listed separately · page: 4 · as of: 2024-04-15 · basis: Statement of Affairs List 'A' as reported · amount: 16000 · debtor: ITWORLD CANADA INC. · creditor: Scotiabank c/o BankruptcyHighway.com · currency: CAD
unsecured creditorspage: 4 · as of: 2024-04-15 · basis: Statement of Affairs List 'A' as reported · amount: 30017.73 · debtor: ITWORLD CANADA INC. · creditor: Selligent Interactive NV · currency: USD
unsecured creditorspage: 4 · as of: 2024-04-15 · basis: Statement of Affairs List 'A' as reported · amount: 5506.7 · debtor: ITWORLD CANADA INC. · creditor: Shabbar, Sofia · currency: CAD
unsecured creditorspage: 4 · as of: 2024-04-15 · basis: Statement of Affairs List 'A' as reported · amount: 1 · debtor: ITWORLD CANADA INC. · creditor: Snook, Darren · currency: CAD
unsecured creditorspage: 4 · as of: 2024-04-15 · basis: Statement of Affairs List 'A' as reported · amount: 14102.4 · debtor: ITWORLD CANADA INC. · creditor: Ted Crysler Professional Corp · currency: CAD
unsecured creditorspage: 4 · as of: 2024-04-15 · basis: Statement of Affairs List 'A' as reported · amount: 12516.82 · debtor: ITWORLD CANADA INC. · creditor: Telus Mobility Services (35008658) · currency: CAD
unsecured creditorspage: 4 · as of: 2024-04-15 · basis: Statement of Affairs List 'A' as reported · amount: 24702.38 · debtor: ITWORLD CANADA INC. · creditor: Telus Mobility Services (35171971) · currency: CAD
unsecured creditorspage: 4 · as of: 2024-04-15 · basis: Statement of Affairs List 'A' as reported · amount: 1808 · debtor: ITWORLD CANADA INC. · creditor: The Bristal Company · currency: CAD
unsecured creditorspage: 4 · as of: 2024-04-15 · basis: Statement of Affairs List 'A' as reported · amount: 229358.68 · debtor: ITWORLD CANADA INC. · creditor: Uninnovate INC · currency: CAD
unsecured creditorspage: 5 · as of: 2024-04-15 · basis: Statement of Affairs List 'A' as reported · amount: 6507.66 · debtor: ITWORLD CANADA INC. · creditor: Villamar, Walter · currency: CAD
unsecured creditorspage: 5 · as of: 2024-04-15 · basis: Statement of Affairs List 'A' as reported · amount: 20038.95 · debtor: ITWORLD CANADA INC. · creditor: Vince, Taylor · currency: CAD
unsecured creditorspage: 5 · as of: 2024-04-15 · basis: Statement of Affairs List 'A' as reported · amount: 374.4 · debtor: ITWORLD CANADA INC. · creditor: Wireless System Solutions INC · currency: CAD
secured creditorsnote: Balance of claim after applying estimated value of security ($200,000.00) is $210,000.00, per Statement of Affairs List 'B' · page: 6 · as of: 2024-04-15 · amount: 210000 · debtor: ITWORLD CANADA INC. · creditor: Scotiabank c/o BankruptcyHighway.com · currency: CAD · security: Amount of claim $410,000.00 (registered security); particulars: 'Other - ITWORLD Software' given 2007-01-03, estimated value of security $200,000.00 and 'Debts Due - Business - Citizen Relations' given 2007-01-03, estimated value $0.00
unsecured creditorsnote: Preferred creditor for wages · page: 7 · as of: 2024-04-15 · basis: Statement of Affairs List 'C' as reported · amount: 2000 · debtor: ITWORLD CANADA INC. · creditor: Gaudette, Laura · currency: CAD
unsecured creditorsnote: Preferred creditor for wages · page: 7 · as of: 2024-04-15 · basis: Statement of Affairs List 'C' as reported · amount: 2000 · debtor: ITWORLD CANADA INC. · creditor: Larue-Langlois, Renaud · currency: CAD
unsecured creditorsnote: Preferred creditor for wages · page: 7 · as of: 2024-04-15 · basis: Statement of Affairs List 'C' as reported · amount: 2000 · debtor: ITWORLD CANADA INC. · creditor: Radecki, Jeff · currency: CAD
unsecured creditorsnote: Preferred creditor for wages · page: 7 · as of: 2024-04-15 · basis: Statement of Affairs List 'C' as reported · amount: 2000 · debtor: ITWORLD CANADA INC. · creditor: Shabbar, Sofia · currency: CAD
unsecured creditorsnote: Preferred creditor for wages · page: 7 · as of: 2024-04-15 · basis: Statement of Affairs List 'C' as reported · amount: 2000 · debtor: ITWORLD CANADA INC. · creditor: Villamar, Walter · currency: CAD
unsecured creditorsnote: Preferred creditor for wages · page: 7 · as of: 2024-04-15 · basis: Statement of Affairs List 'C' as reported · amount: 2000 · debtor: ITWORLD CANADA INC. · creditor: Vince, Taylor · currency: CAD
unsecured creditorsnote: Preferred creditor; nature of claim: Deemed Trust Claim · page: 7 · as of: 2024-04-15 · basis: Statement of Affairs List 'C' as reported · amount: 23334.04 · debtor: ITWORLD CANADA INC. · creditor: CRA - Tax - Ontario (122605769RP0001) · currency: CAD