Ontario · Receivership (court-appointed)
Trustee Preliminary Report
Court officer report · 15 July 2026
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What we verified from this filing10 verified
- appointeeGlassRatner Restructuring Inc.
- appointee roleLicensed Trustee of the bankruptcy estate
- commencement date26 June 2026
- provinceONTARIO
- secured creditorsnote: Discharged/satisfied: 'as of the date of the bankruptcy, the loan from RBC was fully paid' — not an outstanding balance. · page: 2 · as of: date of the bankruptcy · debtor: John G. Hofland Ltd. · creditor: Royal Bank of Canada (RBC) · currency: CAD · security: First priority security over all Property (General Security Agreement referenced generally)
- financial positionnote: Total liabilities figure is the sum of Secured ($975,010.00), Preferred (nil), Unsecured ($4,139,443.00) and Contingent (nil) claims as stated per Statement of Affairs; document also separately reports lower amounts actually filed with the Trustee to date (Secured $453,156.27; Unsecured $2,053,891.72; Total $2,507,047.99), noted here as filed-claims figures rather than the SOA position. · page: 3 · as at: date of the bankruptcy · basis: Statement of Affairs — net realizable value after occupation costs, realization expenses and professional fees (assets); estimated claims by nature (liabilities), unaudited books and records · scope: Entity — John G. Hofland Ltd. (bankrupt estate) · currency: CAD · total assets: 975010 · total liabilities: 5114453
- secured creditorsnote: No individual amount stated for this creditor. Aggregate secured claims: per Statement of Affairs $975,010.00 (all Property encumbered); 11 Secured Proofs of Claim filed with Trustee totalling $453,156.27 as of report date (July 15, 2026) — not broken out by creditor. G&J 1989 also provided a $30,000 third-party deposit for Trustee's compensation (possible related-party involvement, not explicitly stated). Gowlings legal opinion confirms G&J 1989's security is valid, enforceable, and ranks in priority as applicable. · page: 3 · as of: date of the bankruptcy · debtor: John G. Hofland Ltd. · creditor: G & J 1989 Investments Inc. · currency: CAD · security: General Security Agreement over all assets, undertaking and properties of the Company; second priority (behind RBC)
- unsecured creditorsnote: Document names no individual unsecured creditors. 81 Unsecured Proofs of Claim totalling $2,053,891.72 filed with the Trustee as of the date of this Report (July 15, 2026) — a lower, proofs-filed figure distinct from the SOA-reported amount. · page: 3 · as of: date of the bankruptcy · basis: Statement of Affairs as reported · amount: 4139443 · debtor: John G. Hofland Ltd. · creditor: Unsecured creditors (aggregate as reported) · currency: CAD
- secured creditorsnote: Security opinion pending: 'the PMSI secured creditors' security requires further review and verification that is ongoing.' Individual amounts not stated; included within the aggregate 11 Secured Proofs of Claim totalling $453,156.27 filed with Trustee. · page: 4 · as of: date of the bankruptcy · debtor: John G. Hofland Ltd. · creditor: PPSA equipment financiers (PMSI class): RCAP Leasing Inc.; Northpoint Commercial Finance (formerly LBC Capital); Paccar Leasing Company; De Lage Landen Financial Services Canada Inc. · currency: CAD · security: PMSI registrations under the Personal Property Security Act (Ontario); 4 registrants filed PMSI priority claims with the Trustee
- recovery outcomeentries: basis: unstated · quote: As of the date of this Report, it is uncertain whether the secured debts will be fully repaid. · pct of: unstated · outcome: undetermined · class key: secured · stated by: trustee · class label: G & J 1989 (secured creditor) · creditor name: G & J 1989 Investments Inc. · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: At this time, it is not clear whether there will be sufficient funds available to discharge the secured obligations owing to G & J 1989 and the Trustee is not able to determine how much, if any, funds will be available for distribution to preferred or unsecured creditors. · pct of: unstated · outcome: undetermined · class key: preferred · stated by: trustee · class label: preferred or unsecured creditors · interim final: unstated · claims qualifier: unstated · table missing: