Ontario · Bankruptcy
Notice of Bankruptcy
Notice to creditors · 30 September 2024
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What we verified from this filing18 verified
- appointeeCrowe Soberman Inc.
- appointee roletrustee
- commencement date25 September 2024
- court file no32-3132853
- provinceOntario
- statutory basisSubsection 102(1) of the Act
- financial positionnote: Liabilities comprise: Secured creditors 879,916.82; Preferred creditors/securities/priorities 0.00; Unsecured creditors 760,265.95; Contingent/trust claims 0.00. Deficiency reported as -1,237,811.40 · page: 2 · as at: 2024-09-18 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor, sworn by Michael Freeman on 2024-09-21 · scope: Entity - Galaxy Group of Companies Incorporated (bankrupt corporation) · currency: CAD · total assets: 402371.37 · total liabilities: 1640182.77
- secured creditorsnote: Equipment rental claim listed as secured; estimated deficit from security -90,653.69 · page: 4 · as of: 2024-08-07 · amount: 90653.69 · debtor: Galaxy Group of Companies Incorporated · creditor: Sunbelt Rentals of Canada Inc. · currency: CAD · security: Asset securing liability: items 101,1301 (deposits/accounts receivable)
- secured creditorsnote: Corporate tax debt; deemed trust / secured claim as listed in Statement of Affairs; estimated deficit from security -266,893.76 · page: 4 · as of: 2024-07-12 · amount: 669261.13 · debtor: Galaxy Group of Companies Incorporated · creditor: CRA - Tax - Ontario · currency: CAD · security: Asset securing liability: Deposits in financial institutions (item 101) and Accounts receivable (item 1301)
- unsecured creditorsnote: Waste management debt · page: 4 · as of: Statement of Affairs as reported (sworn 2024-09-21) · basis: Statement of Affairs as stated and estimated by bankrupt/debtor · amount: 14027 · debtor: Galaxy Group of Companies Incorporated · creditor: Reliable Waste Mangement Ltd · currency: CAD
- unsecured creditorsnote: HST/GST liability, deemed trust class · page: 4 · as of: Statement of Affairs as reported (sworn 2024-09-21) · basis: Statement of Affairs as stated and estimated by bankrupt/debtor · amount: 369497 · debtor: Galaxy Group of Companies Incorporated · creditor: CRA - Tax - Ontario · currency: CAD
- unsecured creditorsnote: Disposal services debt · page: 4 · as of: Statement of Affairs as reported (sworn 2024-09-21) · basis: Statement of Affairs as stated and estimated by bankrupt/debtor · amount: 96140.08 · debtor: Galaxy Group of Companies Incorporated · creditor: Call Diposal Services Ltd. · currency: CAD
- unsecured creditorsnote: Demolition services debt · page: 4 · as of: Statement of Affairs as reported (sworn 2024-09-21) · basis: Statement of Affairs as stated and estimated by bankrupt/debtor · amount: 37850.42 · debtor: Galaxy Group of Companies Incorporated · creditor: Geomez Demolition Limited · currency: CAD
- secured creditorsnote: Finance company loan; PPSA equipment financier; nominal $1.00 balance shown, likely placeholder for vehicle lease/loan · page: 5 · as of: 2022-10-31 · amount: 1 · debtor: Galaxy Group of Companies Incorporated · creditor: Addison Leasing of Canada Ltd · currency: CAD · security: PPSA registration on 2018 Ford & 2022 Ram vehicles (items 801,802)
- secured creditorsnote: Finance company loan; PPSA equipment financier; nominal $1.00 balance shown, likely placeholder · page: 5 · as of: 2023-05-18 · amount: 1 · debtor: Galaxy Group of Companies Incorporated · creditor: Toyota Credit Canada Incorporated · currency: CAD · security: Secured vehicle - 2023 Toyota Highlander (items 803,804)
- unsecured creditorsnote: Union dues; estimated deficit from security -120,000.00 shown (no security asset identified) · page: 5 · as of: 2024-07-09 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor · amount: 120000 · debtor: Galaxy Group of Companies Incorporated · creditor: LIUNA, Local 506 · currency: CAD
- unsecured creditorsnote: Related party: director/shareholder loan to corporation (Loans from Individuals - Personal Loan to Corporation Loan) · page: 5 · as of: Statement of Affairs as reported (sworn 2024-09-21) · basis: Statement of Affairs as stated and estimated by bankrupt/debtor · amount: 240000 · debtor: Galaxy Group of Companies Incorporated · creditor: Mike Freeman · currency: CAD
- unsecured creditorsnote: Rent claim · page: 5 · as of: Statement of Affairs as reported (sworn 2024-09-21) · basis: Statement of Affairs as stated and estimated by bankrupt/debtor · amount: 2751.45 · debtor: Galaxy Group of Companies Incorporated · creditor: Colliers International Group Inc. · currency: CAD