Ontario · NOI
First Report of the Proposal Trustee dated August 12, 2026
Court officer report · 12 August 2026
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 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: In such a scenario, it is unlikely that any funds would be available for distribution to the Unsecured Creditors as the expected realizations from the Company's assets as noted in the SOA would result in a shortfall on the BNS Loan · pct of: unstated · outcome: nil · class key: unsecured · stated by: proposal_trustee · class label: Unsecured Creditors · interim final: unstated · claims qualifier: unstated; basis: liquidation_alternative · quote: In the event of the Company's bankruptcy, the Trustee estimates that there would be no distribution to unsecured creditors · pct of: unstated · outcome: nil · class key: unsecured · stated by: proposal_trustee · class label: unsecured creditors · interim final: unstated · conditional on: subject to the validity and enforceability of BNS's security · claims qualifier: unstated; 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: proposal_trustee · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated · stated on: 2026-08-12 · table missing: