Ontario · Bankruptcy
Trustee Preliminary Report
Court officer report · 9 October 2025
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What we verified from this filing11 verified
- appointeeB. Riley Farber Inc.
- appointee roleTrustee in Bankruptcy
- commencement date19 September 2025
- provinceONTARIO
- statutory basiss. 50.4(8) of the BIA
- cash on handnote: Amount higher than projected primarily due to collection of certain accounts receivable deposited in the Company's accounts; Trustee still reconciling. · amount: 189501 · currency: CAD · qualifier: recovered from the Company's bank accounts as of the date of this report
- financial positionnote: Assets per Statement of Affairs: Accounts Receivables $33,055,083.30 (book value), Cash in Bank $78,837.90, Trade Fixtures $34,595.67, Furniture $16,411.29 (all estimated realizable value); Trustee believes trade fixtures and furniture have no realizable value. Intercompany receivable of $30,576,835 from Optm Inc. expected to be partially offset by corresponding creditor balance of $28,243,435, reducing net receivable to approximately $2,333,400 and removing that liability from the creditor listing. Liabilities per Statement of Affairs total $29,661,795.58 (secured $1.00, unsecured $29,661,794.58); only $2,271,573.34 in unsecured claims filed with Trustee to date. · as at: 2025-09-19 · basis: Statement of Affairs figures prepared from Company books and records, not audited by the Trustee, who expresses no opinion on their validity, exactness or reliability; asset values mix book value (accounts receivable) and estimated realizable value (cash, fixtures, furniture). · scope: Single entity - Empowered Networks Inc. (aka Réseaux Empowered Inc.) (fka Optm Canada Inc.) · currency: CAD · total assets: 33184928.16 · total liabilities: 29661795.58
- operational summaryThe Company ceased operations following a failed NOI proposal and was deemed bankrupt; the Trustee has been securing Company data/IP, closing bank accounts, redirecting mail, and winding down the leased premises, with no ongoing business operations.
- recovery outcomeentries: basis: estimated · quote: It is expected there will be funds available for distribution to unsecured creditors of the estate. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: trustee · class label: unsecured creditors · interim final: unstated · conditional on: The amount will depend on the actual realization of the Property listed above, which the Trustee is in the process of finalizing. · claims qualifier: unstated · table missing:
- report date9 October 2025
- report noPreliminary Report