Ontario · Bankruptcy
Minutes of First Meeting of Creditors
Meeting materials · 15 March 2022
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What we verified from this filing25 verified
- court file no35-2806968
- provinceOntario
- appointeeGoldhar & Associates Ltd
- appointee roleTrustee
- commencement date23 February 2022
- financial positionnote: Statement of Affairs totals: Unsecured $9.00 (9 creditors), Preferred nil, Secured $2,688,068.12 (4 creditors), Total $2,688,077.12. Claims filed as at March 14, 2022 totaled $1,336,921.84 (Unsecured $1,774.94 (1), Secured $1,335,146.90 (1)); Claims Register grand total shows $2,688,077.12 SOA vs $2,243,994.96 filed. Trustee has not determined admissibility of claims. No assets other than land charged to multiple secured lenders; no appraisal obtained. · page: 8 · as at: 2022-02-23 · basis: Statement of Affairs as reported (unaudited, prepared from available books/records and management discussion) · scope: 1685667 Ontario Limited (entity level, sole debtor) · currency: CAD · total liabilities: 2688077.12
- secured creditorsnote: Preliminary report states construction lien amount of approximately $837,230; exact filed proof of claim amount per Claims Register is $907,072.12 (admitted). · page: 8 · as of: proof of claim as filed · amount: 907072.12 · debtor: 1685667 Ontario Limited · creditor: L. Patten & Sons Limited · currency: CAD · security: Construction lien registered on title
- secured creditorsnote: Claims Register shows claim status 'Not proved'. · page: 8 · amount: 250000 · debtor: 1685667 Ontario Limited · creditor: Bruce Community Futures Development Corporation · currency: CAD · security: Third mortgage on land at 23547 Holland Sydenham Townline, RR#4, Chatsworth, ON
- secured creditorsnote: Claims Register shows claim status 'Not proved'. · page: 8 · amount: 290000 · debtor: 1685667 Ontario Limited · creditor: Sassan Mahammadi Azad and Azar Ajdari-Azad · currency: CAD · security: Second mortgage on land at 23547 Holland Sydenham Townline, RR#4, Chatsworth, ON
- secured creditorsnote: Also holds a PPSA registration per search dated Feb 14, 2022 (file currency to Feb 13, 2022); claim as filed per Claims Register was $1,335,146.90 (admitted); statement of claim judgment obtained Oct 18, 2021 against debtor, related entity Chatsworth Farm Ltd and Daune MacGregor personally. · page: 8 · amount: 1500000 · debtor: 1685667 Ontario Limited · creditor: 2198743 Ontario Limited · currency: CAD · security: First mortgage on land at 23547 Holland Sydenham Townline, RR#4, Chatsworth, ON (PIN 37085-0132)
- unsecured creditorsnote: Claim status: Not proved. · page: 11 · as of: Statement of Affairs · basis: Statement of Affairs as reported · amount: 1 · debtor: 1685667 Ontario Limited · creditor: Ministry of Finance - ON PST, EHT & Other Taxes · currency: CAD
- unsecured creditorsnote: Claim status: Not proved; also listed as second mortgagee (secured) above. · page: 11 · as of: Statement of Affairs · basis: Statement of Affairs as reported · amount: 290000 · debtor: 1685667 Ontario Limited · creditor: Sassan Mahammadi Azad and Azar Ajdari-Azad · currency: CAD
- unsecured creditorsnote: Claim status: Not proved; lawyers for L. Patten & Sons Ltd, ref CV-21-107. · page: 11 · as of: Statement of Affairs · basis: Statement of Affairs as reported · amount: 1 · debtor: 1685667 Ontario Limited · creditor: Victor Vandergust LLP · currency: CAD
- unsecured creditorsnote: Claim status: Not proved. · page: 11 · as of: Statement of Affairs · basis: Statement of Affairs as reported · amount: 1 · debtor: 1685667 Ontario Limited · creditor: Workplace Safety and Insurance Board · currency: CAD
- unsecured creditorsnote: Claim status: Not proved; also listed as third mortgagee (secured) above. · page: 11 · as of: Statement of Affairs · basis: Statement of Affairs as reported · amount: 250000 · debtor: 1685667 Ontario Limited · creditor: Bruce Community Futures Development Corporation · currency: CAD
- unsecured creditorsnote: Filed proof of claim shown separately as $1.00 (admitted) - unsecured deficiency portion likely; also listed as secured creditor above for mortgage balance. · page: 11 · as of: Statement of Affairs · basis: Statement of Affairs as reported · amount: 1240995 · debtor: 1685667 Ontario Limited · creditor: 2198743 Ontario Limited · currency: CAD
- unsecured creditorspage: 11 · as of: Statement of Affairs / proof of claim as filed · basis: Statement of Affairs as reported; admitted per Claims Register · amount: 1774.94 · debtor: 1685667 Ontario Limited · creditor: Baker Tilly SGB LLP · currency: CAD
- unsecured creditorsnote: No SOA or filed amount stated; claim status not proved; related to Court File CV-21-00000088-0000; lawyers for 2198743 Ontario Limited. · page: 11 · basis: Listed in Claims Register · debtor: 1685667 Ontario Limited · creditor: Blaney McMurtry LLP · currency: CAD
- unsecured creditorsnote: Claim status: Not proved. · page: 11 · as of: Statement of Affairs · basis: Statement of Affairs as reported · amount: 1 · debtor: 1685667 Ontario Limited · creditor: CBRE · currency: CAD
- unsecured creditorsnote: Claim status: Not proved; deemed trust/CRA claim class. · page: 11 · as of: Statement of Affairs · basis: Statement of Affairs as reported · amount: 1 · debtor: 1685667 Ontario Limited · creditor: CRA - GST/HST - Shawinigan-Sud · currency: CAD
- unsecured creditorsnote: Claim status: Not proved; deemed trust/CRA claim class. · page: 11 · as of: Statement of Affairs · basis: Statement of Affairs as reported · amount: 1 · debtor: 1685667 Ontario Limited · creditor: CRA - Toronto North Tax Services Office · currency: CAD
- unsecured creditorsnote: Claim status: Not proved. · page: 11 · as of: Statement of Affairs · basis: Statement of Affairs as reported · amount: 1 · debtor: 1685667 Ontario Limited · creditor: Ewout Dr Riijke · currency: CAD
- unsecured creditorsnote: Claim status: Not proved. · page: 11 · as of: Statement of Affairs · basis: Statement of Affairs as reported · amount: 1 · debtor: 1685667 Ontario Limited · creditor: Kopperud Hamilton Beyer · currency: CAD
- unsecured creditorsnote: Listed both as secured (construction lien) and unsecured in Claims Register with identical amount. · page: 11 · as of: proof of claim as filed · basis: Admitted per Claims Register (also asserted as secured via construction lien above) · amount: 907072.12 · debtor: 1685667 Ontario Limited · creditor: L. Patten & Sons Limited · currency: CAD
- recovery outcomeentries: basis: unstated · quote: The discussion concluded with trustee advising the participants that we do not expect any distribution from the estate at this point. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: unsecured creditors · interim final: unstated · conditional on: at this point · claims qualifier: unstated · stated on: 2022-03-15 · table missing: