Ontario · Court officer
Court Officer Third Report
Court officer report · 1 December 2023
Also filed as: Court Officer Third Report
What we verified from this filing12 verified
- applicantMervin Brian Schick
- appointeeBDO Canada Limited
- appointee roleSales Officer & Liquidator
- courtSUPERIOR COURT OF JUSTICE (FAMILY COURT)
- court file no252/15
- provinceONTARIO
- statutory basissections 21.9 and 101 of the Courts of Justice Act and sections 207, 209 and 248 of the Business Corporations Act
- commencement date2 March 2022
- financial positionnote: Document states Opco's liabilities of $459,808 (as reported in FY2022 financial statements) greatly exceed its assets, which have all been recovered upon and are held in trust by the Liquidator, currently amounting to approximately $72,600 (as at November 28, 2023, per Interim R&D at page 8). The $459,808 figure is Opco's reported liabilities, not assets; total_assets field mislabelled - see note: this figure represents total liabilities as reported, and total_assets is separately stated as approximately $72,600 held in trust (a recovery/trust balance, not a full asset valuation). · page: 7 · as at: 2022-10-31 · basis: fiscal year-end October 31, 2022 financial statements prepared by MNP · scope: entity - 1475459 Ontario Inc. o/a End of the Roll (Opco) · currency: CAD · total assets: 459808
- unsecured creditorsnote: deemed trust class (sales tax); Liquidator believes Holdco is actually in a net refund position of approximately $3,889 pending CRA processing of recent filings · page: 7 · as of: date of this Third Report (December 1, 2023) · basis: reported by CRA as owing on account of unpaid sales taxes · amount: 35335 · debtor: Schick's Holdings Inc. (Holdco) · creditor: Canada Revenue Agency · currency: CAD
- unsecured creditorsnote: deemed trust class (corporate income tax); due and payable by December 31, 2023; forecast/draft figure, subject to completion by MNP · page: 7 · as of: October 31, 2023 fiscal year-end (draft corporate tax return) · basis: draft fiscal year-end October 31, 2023 corporate tax return prepared by MNP computes corporate tax liability owing · amount: 371405 · debtor: Schick's Holdings Inc. (Holdco) · creditor: Canada Revenue Agency · currency: CAD
- fee scheduleengagements: form: prose · rows: · money: tax: label: applicable taxes · quote: prior to applicable taxes of $8,002.09 · amount: 8002.09 · fees: quote: for a total of $61,554.50, prior to applicable taxes of $8,002.09 · amount: 61554.5 · approximate: false · period: kind: unstated · approval: state: unstated · averages: rate: 457.99 · quote: an average hourly rate of approximately $457.99 · currency: · invoices: · firm text: BDO Canada Limited · firm quote: Third Report of BDO Canada Limited In its joint capacity as Court-appointed Sales Officer & Liquidator of 1475459 Ontario Inc. o/a End of the Roll & Schick's Holdings Inc. · hours total: quote: 134.4 hours at an average hourly rate of approximately $457.99 · value: 134.4 · context quote: In its joint capacity as Court-appointed Sales Officer & Liquidator of 1475459 Ontario Inc. o/a End of the Roll & Schick's Holdings Inc.; form: prose · rows: · money: tax: label: applicable taxes · quote: plus applicable taxes of $3,761.68 · amount: 3761.68 · total: quote: The fees for the period total $28,936.08, inclusive of disbursements, plus applicable taxes of $3,761.68. · amount: 28936.08 · includes tax: false · includes disbursements: true · approximate: false · period: kind: unstated · approval: state: unstated · averages: · currency: · invoices: · firm unverified: true · context unverified: true