Ontario · NOI
First Report - Proposal Trustee - The Fuller Landau Group Inc. - 22-MAY-2024
Court officer report · 22 May 2024
A plain-language read of this filing opens with a subscription.
What we verified from this filing10 verified
- financial positionnote: Equity of $1,773,734 (share capital $500,000 + retained earnings $1,273,734) reconciles assets to liabilities plus equity · page: 6 · as at: 2024-04-30 · basis: unaudited internal Company books and records (Balance Sheet Summary) · scope: North Wood Carpet & Tile Company Ltd. (entity level) · currency: CAD · total assets: 9249998 · total liabilities: 7476263
- secured creditorsnote: Default judgment of $1,053,437.29 plus costs of $1,373.05 obtained April 11, 2024; judgment outstanding; garnishment served on RBC precipitated NOI filing; promissory note principal of $400,000 is registered/original amount, not the balance · page: 6 · as of: 2024-04-11 · amount: 1054810.34 · debtor: North Wood Carpet & Tile Company Ltd. and 1000118885 Ontario Inc. · creditor: Riverside Humber Corp., 2205633 Ontario Limited, and 1620375 Ontario Inc. (Plaintiffs) · currency: CAD · security: General security agreement securing a promissory note (principal $400,000) and related guarantee; blanket PPSA registration - inventory, equipment, accounts, other
- secured creditorsnote: Principal secured lender; amount excludes costs, expenses and further accrued interest, per First Report · page: 6 · as of: 2024-05-22 · amount: 2900000 · debtor: North Wood Carpet & Tile Company Ltd. · creditor: Waygar Capital Inc. · currency: CAD · security: General security agreement (blanket, all-property PPSA registration - inventory, equipment, accounts, other, motor vehicle)
- unsecured creditorsnote: Approximate trade indebtedness on the Filing Date; document names no individual trade creditors on the reviewed pages; amounts owing may be subject to holdbacks, lien and trust claims under the Construction Act (Ontario) · page: 7 · as of: NOI filing date · basis: According to North Wood's books and records · amount: 1000000 · debtor: North Wood Carpet & Tile Company Ltd. · creditor: Trade creditors (aggregate as reported) · currency: CAD
- unsecured creditorsnote: Owed for period preceding the Filing Date; deemed trust class (CRA) · page: 7 · as of: NOI filing date · basis: As set out on the list of creditors · amount: 40055 · debtor: North Wood Carpet & Tile Company Ltd. · creditor: Canada Revenue Agency - HST · currency: CAD
- unsecured creditorsnote: Owed for period preceding the Filing Date; deemed trust class (CRA); Company advised Proposal Trustee this has since been paid and Company is now current · page: 7 · as of: NOI filing date · basis: As set out on the list of creditors · amount: 60000 · debtor: North Wood Carpet & Tile Company Ltd. · creditor: Canada Revenue Agency - Source deductions · currency: CAD
- secured creditorsnote: PMSI/specific equipment financier; amount not stated · page: 24 · debtor: North Wood Carpet & Tile Company Ltd. · creditor: CWB National Leasing Inc. · currency: CAD · security: PPSA registration - specific collateral: all industrial printing equipment (agreement number 2887495)
- secured creditorsnote: Amount not stated; likely surety/bonding company registration · page: 30 · debtor: North Wood Carpet & Tile Company Ltd. · creditor: Trisura Guarantee Insurance Company · currency: CAD · security: PPSA registration - inventory, equipment, accounts, other, motor vehicle included
- purchaserFloor Solutions North Wood (2024) Inc.
- sale outcometext: The Company seeks approval of a SISP for the purposes of soliciting interest in the purchase of some of all of the Property or an investment in the Company. · scope: whole_business · status: process_approved