Ontario · NOI
Preliminary Report of the Trustee
Court officer report · 6 January 2022
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What we verified from this filing7 verified · 1 withheld
- cash on handnote: Representing substantially all of the available estate funds; separately, the Companies' bank account had $143.77 as at December 20, 2021. · amount: 55000 · currency: CAD · qualifier: currently holds
- closing confirmedscope: substantially all High Noon's assets, comprising its brands and related intellectual property of its assets · outcome: completed · effective: 2021-12-17 · purchaser: MPX International Corporation · date basis: stated · approval order date: 2021-12-07
- financial positionnote: Components only, no stated total: $55,000 of sale proceeds held by Trustee (substantially all available estate funds, bank account had $143.77 as at Dec 20, 2021); 337 holds an unsecured promissory note of approximately $2.5 million owed by Materia (recoverability unknown); HST refund position of approximately $32,000 (quantum/timing unknown, subject to CRA dispute). · basis: Trustee's preliminary, unaudited estimate based on Companies' records and discussions with former management/accountant · scope: Bankrupt estate of 11157337 Canada Corp. and H12 Brands Inc. (High Noon) · currency: CAD
- operational summaryHigh Noon sold substantially all of its brand and intellectual property assets to MPX International prior to being deemed bankrupt, and the Trustee is now administering the wind-down of the estate, holding $55,000 in sale proceeds for potential creditor distribution.
- purchaserMPX International Corporation
- report date6 January 2022
- sale outcometext: High Noon completed the Transaction to sell and transfer substantially all of its assets to the Purchaser · scope: whole_business · status: closed
1 extracted value is withheld: either a trap-shaped field where models produce confident wrong numbers, or an identity value whose quotation could not be found in the document. Withheld values are shown to no one.