Ontario · Bankruptcy
Trustee's Preliminary Report
Court officer report · 10 December 2025
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What we verified from this filing12 verified
- appointeeMNP Ltd.
- appointee roleLicensed Insolvency Trustee
- commencement date25 November 2025
- court file no35-3302451
- proceeding typebia_bankruptcy
- provinceOntario
- statutory basisthe Bankruptcy and Insolvency Act
- cash on handnote: Anticipated remaining funds from frozen RBC account to be sent to the bankruptcy estate, after deduction of closing fee charges; not yet received as of report date. · amount: 100 · currency: CAD · qualifier: approximately
- financial positionnote: Per Statement of Affairs: Secured Nil, Unsecured $506,247.23, Preferred $10,000, Total $516,247.23; Proven & Filed to December 10, 2025: Secured Nil, Preferred $38,094.56, Total $38,094.56 (unsecured claims not yet proven). Restaurant equipment appraised by Benaco Sales Ltd. at a gross value of $5,650 to $6,650, but Trustee will not take possession as removal/sale costs would exceed realizable value; RBC bank account frozen with anticipated remaining funds of approximately $100 after closing fees. · basis: Statement of Affairs management estimate · scope: 2096059 Ontario Inc. (aka Thai Sun), single entity · currency: CAD · total liabilities: 516247.23
- operational summaryThe Company, operating as Thai Sun restaurant, ceased operations on November 17, 2025 after its director stopped funding operating losses, and its lease was subsequently terminated by the landlord; the Trustee is not taking possession of the low-value restaurant equipment.
- recovery outcomeentries: basis: estimated · quote: The Trustee does not anticipate any distribution to creditors at this time. · pct of: unstated · outcome: nil · stated by: trustee · class label: creditors · interim final: unstated · conditional on: at this time · claims qualifier: unstated · stated on: 2025-12-11 · table missing:
- report date11 December 2025