Ontario · Proposal
Trustee’s Second Report to Creditors
Court officer report · 17 April 2025
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What we verified from this filing7 verified
- cash on handnote: Cash balance per Statement of Estimated Realization (Feb 28 balance), used in bankruptcy scenario recovery estimate · as at: 2025-02-28 · amount: 317297 · currency: CAD
- financial positionnote: Only 'Unsecured claims' of $5,613,955 is stated (used for dividend calculation), not a comprehensive total liabilities figure; estimated recovery of $1,327,652 and downstream deductions (Trustee fees $50,000, wage/vacation claims $22,000) are forecast figures for a hypothetical bankruptcy scenario, not the Company's actual financial position. · as at: 2025-02-28 · basis: Company's most recent internally prepared financials; recovery percentages are Trustee estimates for a bankruptcy scenario · scope: Staffy Canada Inc. (entity level) · currency: CAD · total assets: 2903581
- operational summaryThe Company continues operating in the ordinary course of business, relying on operating cash flow and a new/expanding credit facility, and is pursuing additional financing options to fund the Proposal payments.
- professional feesnote: Estimated Trustee fees deducted in the bankruptcy scenario recovery estimate; this is a forecast estimate, not fees actually incurred to date · party: Trustee · amount: 50000 · currency: CAD
- recovery outcomeentries: basis: unstated · quote: | Estimated Percentage Dividend | | 42% | · pct of: unstated · outcome: distribution · pct low: 42 · pct high: 42 · class key: unsecured · stated by: proposal_trustee · class label: Unsecured claims · claims amount: 5613955 · interim final: unstated · claims qualifier: estimated · table missing:
- report date17 April 2025
- report noSecond Report