British Columbia · Proposal

Creditor's Package - Notice of Proposal to Creditors

Meeting materials · 21 January 2019

Subscribe to read the filing⁠

✨ Summarize · Subscribers

A plain-language read of this filing opens with a subscription.

What we verified from this filing44 verified

unsecured creditorspage: 2 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 5468.4 · debtor: RMK Investments Inc. · creditor: Great West Newspapers, LP · currency: CAD
unsecured creditorspage: 2 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 672.21 · debtor: RMK Investments Inc. · creditor: Kurt'n Rod Installations · currency: CAD
unsecured creditorspage: 2 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 307517.57 · debtor: RMK Investments Inc. · creditor: Hunter Douglas Canada LP · currency: CAD
unsecured creditorspage: 2 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 3595 · debtor: RMK Investments Inc. · creditor: Joanne Fabrics Co. Ltd. · currency: CAD
unsecured creditorspage: 2 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 3543.28 · debtor: RMK Investments Inc. · creditor: 20/20 Blind Installations · currency: CAD
unsecured creditorspage: 2 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 9286 · debtor: RMK Investments Inc. · creditor: 243276 Alberta Ltd. · currency: CAD
unsecured creditorspage: 2 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 10306.86 · debtor: RMK Investments Inc. · creditor: Alendel Fabrics Ltd. · currency: CAD
unsecured creditorspage: 2 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 2429.5 · debtor: RMK Investments Inc. · creditor: Alex Soon · currency: CAD
unsecured creditorspage: 2 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 9214.54 · debtor: RMK Investments Inc. · creditor: Black Press Group Ltd. · currency: CAD
unsecured creditorspage: 2 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 5715.64 · debtor: RMK Investments Inc. · creditor: Blinds Guy Installation and Service · currency: CAD
unsecured creditorspage: 2 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 3341.3 · debtor: RMK Investments Inc. · creditor: C.D.H. (Canadian Hardware) · currency: CAD
unsecured creditorspage: 2 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 9634.78 · debtor: RMK Investments Inc. · creditor: Calgary Herald, C/O PostMedia Payment Centre · currency: CAD
unsecured creditorspage: 2 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 2954 · debtor: RMK Investments Inc. · creditor: Clint Moncrieff · currency: CAD
unsecured creditorspage: 2 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 36668.5 · debtor: RMK Investments Inc. · creditor: DRMG - Oakville-Direct Response Media Inc. · currency: CAD
unsecured creditorspage: 2 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 4692.06 · debtor: RMK Investments Inc. · creditor: Equus Fabrics Incorporated · currency: CAD
unsecured creditorspage: 2 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 19689.53 · debtor: RMK Investments Inc. · creditor: Fast Track Decor Services · currency: CAD
unsecured creditorspage: 2 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 15461.25 · debtor: RMK Investments Inc. · creditor: Finest Holdings Inc. (Sherwood Park) · currency: CAD
unsecured creditorspage: 2 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 10435.55 · debtor: RMK Investments Inc. · creditor: Finest Values (Almonte) · currency: CAD
unsecured creditorspage: 3 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 3562.12 · debtor: RMK Investments Inc. · creditor: RFS Canada · currency: CAD
unsecured creditorspage: 3 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 2785.28 · debtor: RMK Investments Inc. · creditor: Layers & Layers Showroom Inc. · currency: CAD
unsecured creditorspage: 3 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 3392.84 · debtor: RMK Investments Inc. · creditor: LMP Publicaton Ltd. · currency: CAD
unsecured creditorspage: 3 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 51012.41 · debtor: RMK Investments Inc. · creditor: Look At Me Advertising Inc. · currency: CAD
unsecured creditorspage: 3 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 6949.9 · debtor: RMK Investments Inc. · creditor: Meridian Pacific Communications · currency: CAD
unsecured creditorspage: 3 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 7645.81 · debtor: RMK Investments Inc. · creditor: My Amazing Interiors Inc. · currency: CAD
unsecured creditorspage: 3 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 1860.19 · debtor: RMK Investments Inc. · creditor: Pacific Newspaper Group Inc · currency: CAD
unsecured creditorspage: 3 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 17543.9 · debtor: RMK Investments Inc. · creditor: Postmedia Network Inc. · currency: CAD
unsecured creditorspage: 3 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 13256.8 · debtor: RMK Investments Inc. · creditor: Postmedia Payment Centre · currency: CAD
unsecured creditorspage: 3 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 13790.93 · debtor: RMK Investments Inc. · creditor: Shade-O-Matic · currency: CAD
unsecured creditorspage: 3 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 924 · debtor: RMK Investments Inc. · creditor: Sunset Blind and Shade · currency: CAD
unsecured creditorspage: 3 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 6271.5 · debtor: RMK Investments Inc. · creditor: Supersaver · currency: CAD
unsecured creditorspage: 3 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 547.56 · debtor: RMK Investments Inc. · creditor: TELUS 207041610 9 · currency: CAD
unsecured creditorspage: 3 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 1058.5 · debtor: RMK Investments Inc. · creditor: TELUS 236179765 5 · currency: CAD
unsecured creditorspage: 3 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 3688.57 · debtor: RMK Investments Inc. · creditor: Textile Trimmings · currency: CAD
unsecured creditorspage: 3 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 19784.03 · debtor: RMK Investments Inc. · creditor: The Ottawa Citizen · currency: CAD
unsecured creditorspage: 3 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 3241.35 · debtor: RMK Investments Inc. · creditor: The Star Phoenix · currency: CAD
unsecured creditorspage: 3 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 7533.75 · debtor: RMK Investments Inc. · creditor: Saskatoon Express Newspaper · currency: CAD
unsecured creditorsnote: Related party (owned/controlled by sole director Terry Balfour); trustee's report later identifies this as a secured claim of $212,398, of which $108,371 is treated as unsecured; will not participate in distribution · page: 4 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 212398 · debtor: RMK Investments Inc. · creditor: Westport Manufacturing Co. · currency: CAD
unsecured creditorspage: 4 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 1050 · debtor: RMK Investments Inc. · creditor: Winnipeg Free Press · currency: CAD
unsecured creditorspage: 4 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 20080.2 · debtor: RMK Investments Inc. · creditor: Times - Colonist · currency: CAD
unsecured creditorspage: 4 · basis: List of Creditors with claims of $250 or more (Form 92) · amount: 23625 · debtor: RMK Investments Inc. · creditor: Toronto Star Newspaper Ltd. · currency: CAD
financial positionnote: Assets consist of cash on hand $29,028 and accounts receivable $75,000, per Statement of Affairs, equal to estimated gross realizable value; net working capital was reported as negative $350,243 as at August 31, 2018 (fiscal year-end), and net loss of $133,091 for fiscal year ended August 31, 2018; total liabilities not stated as a single figure but secured claim of $212,398 (Westport) and unsecured creditors of approximately $780,221 are separately reported · page: 9 · as at: 2019-01-11 · basis: Per Statement of Affairs / book value, and estimated gross realizable value in a bankruptcy as of the date of filing of the Proposal · scope: RMK Investments Inc. (entity-level, pre-filing) · currency: CAD · total assets: 104028
secured creditorsnote: Related party (owned/controlled by sole director Terry Balfour); non-participating creditor under Proposal; of the $212,398 total, $108,371 is considered unsecured based on remaining asset value, leaving the secured portion by difference; Proposal does not contemplate payment to secured creditors and this creditor will not participate in distribution · page: 10 · as of: date of filing of the Proposal (January 11, 2019) · amount: 212398 · debtor: RMK Investments Inc. · creditor: Westport Manufacturing Co. Ltd. · currency: CAD
unsecured creditorsnote: Includes the unsecured portion ($108,371) of the Westport claim, which will not participate in distribution under the Proposal; the Form 92 List of Creditors total ($882,628.61) is a separate, earlier claims list · page: 10 · as of: date of filing of the Proposal (January 11, 2019) · basis: Trustee's Report to Creditors - unsecured creditor balance identified to date, approximately $780,221 based on Company records, consisting of 58 creditors · amount: 780221 · debtor: RMK Investments Inc. · creditor: Unsecured creditors (aggregate as reported) · currency: CAD
recovery outcomeentries: basis: liquidation_alternative · quote: Based on our review of the Company's current assets and liabilities, in the event of a bankruptcy, it is our view that the liquidation of the Company's assets as of the date of filing the Proposal would provide unsecured creditors no recovery. · pct of: unstated · outcome: nil · class key: unsecured · stated by: proposal_trustee · class label: unsecured participating creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Claims less than $1,000 would be paid100%. This assumes there are only $5,000 in total claims that would be paid 100%; and · pct of: unstated · outcome: distribution · pct low: 100 · pct high: 100 · class key: unsecured · stated by: proposal_trustee · class label: Claims less than $1,000 · claims amount: 5000 · interim final: unstated · conditional on: Assumes there are only $5,000 in total claims that would be paid 100% · claims qualifier: estimated; basis: plan · quote: Claims over $1,000 will recover approximately $0.097 per dollar of proven unsecuredclaim. · pct of: proven_claims · outcome: distribution · class key: unsecured · stated by: proposal_trustee · class label: Claims over $1,000 · interim final: unstated · claims qualifier: unstated; basis: plan · quote: In addition, the estimated secured and unsecured claims of Westport totaling $212,398 would not participate in any distribution under the terms of the Proposal. · pct of: unstated · outcome: nil · class key: unsecured · stated by: proposal_trustee · class label: estimated secured and unsecured claims of Westport · claims amount: 212398 · creditor name: Westport · interim final: unstated · claims qualifier: estimated · stated on: 2019-01-21 · table missing: