Ontario · Bankruptcy
Notice to Creditors dated
Notice to creditors · 9 April 2024
A plain-language read of this filing opens with a subscription.
What we verified from this filing11 verified
- commencement date5 April 2024
- court file no32-3064701
- provinceOntario
- financial positionnote: Summary breakdown: unsecured creditors per List A $143,285.67; balance of secured claims per List B $869,386.00; total unsecured creditors $1,012,671.67; secured creditors per List B $1.00; preferred creditors per List C $0.00 (List C empty - stated none); contingent/trust claims per List D $0.00. Deficiency $948,679.61; surplus NIL. Assets: cash $63,992.06 plus other property (Intellectual Property, List H: original cost $301,530.00, estimated to produce $1.00) = total $63,993.06. · page: 4 · as at: 2024-04-05 · basis: Statement of Affairs (Form 78), as stated and estimated by the officer (management estimate), sworn 05-Apr-2024 · scope: Enermotion INC. also operating as Hyper (single entity) · currency: CAD · total assets: 63993.06 · total liabilities: 1012672.67
- unsecured creditorsnote: CRA GST/HST (deemed trust / quasi-governmental class); claim stated at nominal $1.00. · page: 5 · as of: 2024-04-05 · basis: Statement of Affairs (Form 78) List A, unsecured creditors, as reported by the officer · amount: 1 · debtor: Enermotion INC. · creditor: Canada Revenue Agency - GST/HST - Jonquiere (Attn: Quebec Insolvency Intake Centre, 809390958) · currency: CAD
- unsecured creditorsnote: Shareholder Loan (related party). · page: 5 · as of: 2024-04-05 · basis: Statement of Affairs (Form 78) List A, unsecured creditors, as reported by the officer · amount: 25000 · debtor: Enermotion INC. · creditor: First Line Ventures · currency: CAD
- unsecured creditorsnote: Shareholder Loan (related party); Keith Wettlaufer is also the officer who swore the Statement of Affairs. · page: 5 · as of: 2024-04-05 · basis: Statement of Affairs (Form 78) List A, unsecured creditors, as reported by the officer · amount: 8284.67 · debtor: Enermotion INC. · creditor: Keith Wettlaufer · currency: CAD
- unsecured creditorsnote: Shareholder Loan (related party); address Las Vegas, USA. Amount stated in the form's CAD column. · page: 5 · as of: 2024-04-05 · basis: Statement of Affairs (Form 78) List A, unsecured creditors, as reported by the officer · amount: 10000 · debtor: Enermotion INC. · creditor: Leslie Silver · currency: CAD
- unsecured creditorsnote: Development Assistance. This $869,386.00 is the unsecured balance/shortfall of Linamar's List B secured claim (Unsecured claim column $0.00, Balance of claim column $869,386.00) - see the corresponding secured_creditors entry. Same debt bifurcated by security valuation. · page: 5 · as of: 2024-04-05 · basis: Statement of Affairs (Form 78) List A, unsecured creditors, as reported by the officer · amount: 869386 · debtor: Enermotion INC. · creditor: Linamar Corporation · currency: CAD
- unsecured creditorsnote: Shareholder Loan (related party). · page: 5 · as of: 2024-04-05 · basis: Statement of Affairs (Form 78) List A, unsecured creditors, as reported by the officer · amount: 100000 · debtor: Enermotion INC. · creditor: Scott Smith · currency: CAD
- secured creditorsnote: List B secured creditor (Development Assistance). Amount of claim $869,387.00 but estimated value of security only $1.00, so the claim is bifurcated by security valuation: only $1.00 ranks secured ('Secured creditors as per list B' = $1.00 on the summary), and the unsecured shortfall of $869,386.00 is carried into List A as balance of secured claims (see corresponding unsecured entry). Amounts as at date of bankruptcy 05-Apr-2024. · page: 6 · as of: 2024-04-05 · amount: 869387 · debtor: Enermotion INC. · creditor: Linamar Corporation · currency: CAD · security: Other - Intellectual Property; security given 26-Oct-2015; estimated value of security $1.00