Ontario · Bankruptcy
Trustee's Preliminary Report dated September 8, 2025.pdf
Court officer report · 8 September 2025
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What we verified from this filing9 verified
- appointeeGrant Thornton Limited
- appointee roletrustee in bankruptcy
- commencement date19 August 2025
- provinceOntario
- cash on handnote: Company advised it had in excess of $21,000 in cash; Trustee has since taken possession of this balance. · amount: 21000 · currency: CAD · qualifier: in excess of
- financial positionnote: Components only, no totals stated: AR estimated at approximately $294,000 (much considered bad debt or difficult to collect); cash in excess of $21,000; per SOA Secured Creditors $134,609 and Unsecured Creditors $498,097; equipment value not yet determined (appraisal pending). · basis: Statement of Affairs (SOA) and unaudited books/records of the Company · scope: Davroc & Associates Limited (single entity, non-consolidated) · currency: CAD
- operational summaryThe Company ceased operations following its assignment into bankruptcy, with a related entity (Davroc Testing) taking over the former premises, while the Trustee works to collect receivables and liquidate remaining computer equipment.
- recovery outcomeentries: basis: estimated · quote: Until such time as there are sufficient net proceeds from the sale of assets to cover the costs of the bankruptcy proceedings, and the claims of secured creditors holding valid security, the Trustee is of the view that there will not be a distribution available to unsecured creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: unsecured creditors · claims amount: 498097 · interim final: unstated · conditional on: until there are sufficient net proceeds from the sale of assets to cover the costs of the bankruptcy proceedings, and the claims of secured creditors holding valid security · claims qualifier: listed · stated on: 2025-09-08 · table missing:
- report date8 September 2025