Ontario · NOI
First Report of the Proposal Trustee dated August 12, 2026
Court officer report · 12 August 2026
A plain-language read of this filing opens with a subscription.
What we verified from this filing9 verified
- secured creditorsnote: Assignee of Bank of Nova Scotia's secured claim; consideration paid was $150,000; unaffected claim under Amended Proposal; became Company's primary secured creditor. Related party in that OSL is prospective 75% shareholder/guarantor of Amended Proposal. · page: 5 · as of: 2026-07-16 · amount: 150000 · debtor: Endo Networks Inc. · creditor: OSL Retail Services Inc. · currency: CAD · security: Assigned BNS Loan and BNS GSA (general security interest over all assets) via Assignment of Debt and Security Agreement dated July 16, 2026
- unsecured creditorsnote: Disputed/contingent claim arising from Master Services Agreement dispute; Company filed defence denying entitlement; claim's validity/valuation not yet determined by Proposal Trustee as of First Report; PC Bank Holdback established pending final determination; represents 18.48% of total claims of $7,274,570 per Company's books and records as at Filing Date · page: 5 · as of: 2026-02-16 · basis: Statement of claim issued February 16, 2026 in the PC Bank Action; abstained from vote, claim contingent and disputed · amount: 1344617 · debtor: Endo Networks Inc. · creditor: President's Choice Bank (PC Bank) · currency: CAD
- unsecured creditorsnote: Arm's-length unsecured creditor; approximate figure · page: 6 · as of: 2026-06-12 · basis: Statement of Affairs sworn June 12, 2026, as reported · amount: 1300000 · debtor: Endo Networks Inc. · creditor: Willsee Holdings Ltd. · currency: CAD
- unsecured creditorsnote: Arm's-length unsecured creditor; unremitted HST; deemed trust class quasi-governmental claim · page: 6 · as of: 2026-06-12 · basis: Statement of Affairs sworn June 12, 2026, as reported · amount: 1100000 · debtor: Endo Networks Inc. · creditor: Canada Revenue Agency (unremitted HST) · currency: CAD
- unsecured creditorsnote: Arm's-length unsecured creditor; approximate figure · page: 6 · as of: 2026-06-12 · basis: Statement of Affairs sworn June 12, 2026, as reported · amount: 356000 · debtor: Endo Networks Inc. · creditor: Cydcor Canada Inc. · currency: CAD
- unsecured creditorsnote: 44 arm's-length unsecured creditors, aggregate per SOA table; includes unsecured portion of BNS obligations; individually named largest creditors (Willsee, CRA, Cydcor) reported separately above; SOA total described elsewhere in narrative as approximately $6.0 million (includes BNS unsecured portion) · page: 20 · as of: 2026-06-12 · basis: Statement of Affairs sworn June 12, 2026, as reported · amount: 4101344 · debtor: Endo Networks Inc. · creditor: Unsecured creditors - arm's length (aggregate as reported) · currency: CAD
- secured creditorsnote: Original pre-filing secured creditor prior to assignment to OSL on July 16, 2026 for $150,000. Company valued BNS's secured claim at $65,000 for purposes of Initial Proposal (SOA). BNS Loan/GSA later assigned to OSL; Motor Vehicle Loan/vehicle relinquished to BNS with shortfall treated as unsecured claim. · page: 21 · as of: NOI filing date · amount: 683000 · debtor: Endo Networks Inc. · creditor: Bank of Nova Scotia (BNS) · currency: CAD · security: General security agreement (BNS GSA) over all Company assets, plus Vehicle Security over motor vehicle; secured claim comprised primarily of a $600,000 HASCAP loan plus a trailer financing loan
- unsecured creditorsnote: 5 non-arm's-length unsecured creditors, aggregate per SOA table; includes Mr. Peter Byron Day (director/president, ~$1.2 million shareholder advances - related party), Mini Dish Systems Inc. (company owned by Mr. Day, ~$380,000 - related party), and Kayday Inc. (company owned by Mr. Day's father, ~$225,000 rent - related party) · page: 21 · as of: 2026-06-12 · basis: Statement of Affairs sworn June 12, 2026, as reported · amount: 1853894 · debtor: Endo Networks Inc. · creditor: Unsecured creditors - non-arm's length (aggregate as reported) · currency: CAD
- recovery outcomeentries: basis: liquidation_alternative · quote: As set out above, it is anticipated that there will be no funds available to unsecured creditors in a bankruptcy scenario. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: Unsecured Creditors · interim final: unstated · claims qualifier: unstated; basis: liquidation_alternative · quote: a) the distribution to unsecured creditors in a bankruptcy scenario would likely be nil; · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: Unsecured Creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: In the event that the Proposal is accepted by the creditors and the Court, the unsecured creditors will receive a distribution of the Proposal Fund less the Trustee's fees and disbursements. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: proposal_trustee · class label: Unsecured Creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: the Company relinquished its interest in the motor vehicle subject to the Motor Vehicle Loan to BNS, and any shortfall from the sale of such vehicle by BNS is to be treated as an unsecured claim in the Amended Proposal; and · pct of: unstated · outcome: shortfall · class key: secured · stated by: proposal_trustee · class label: BNS (Motor Vehicle Loan shortfall) · creditor name: BNS · interim final: unstated · claims qualifier: unstated · table missing: