Ontario · Bankruptcy

Creditors Package

Meeting materials · 28 January 2019

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financial positionnote: Deficiency $4,455,197.60; Surplus NIL. Liabilities detail: unsecured (List A) $8,853,795.81 + balance of secured claims (List B) $0.00 = total unsecured $8,853,795.81; secured (List B) $55,000.00; preferred (List C) $1.00; contingent/trust (List D) $0.00. Sworn 24 January 2019; assignment filed 25 January 2019. · page: 2 · as at: 2019-01-24 · basis: Statement of Affairs (Form 78, Business Bankruptcy), liabilities and assets as stated and estimated by the officer · scope: Single entity - Sound City Music Entertainment Inc. (o/a RPM Distribution), Vaughan, Ontario · currency: CAD · total assets: 4453599.21 · total liabilities: 8908796.81
unsecured creditorsnote: converted to CAD · page: 3 · as of: 2019-01-24 · basis: Statement of Affairs (Form 78) List A - Unsecured Creditors, as stated and estimated by the officer · amount: 120000 · debtor: Sound City Music Entertainment Inc. (o/a RPM Distribution) · creditor: AM Denmark · currency: CAD
unsecured creditorsnote: nominal $1.00 as stated on List A · page: 3 · as of: 2019-01-24 · basis: Statement of Affairs (Form 78) List A - Unsecured Creditors, as stated and estimated by the officer · amount: 1 · debtor: Sound City Music Entertainment Inc. (o/a RPM Distribution) · creditor: Bell Canada F-88 - Business · currency: CAD
unsecured creditorspage: 3 · as of: 2019-01-24 · basis: Statement of Affairs (Form 78) List A - Unsecured Creditors, as stated and estimated by the officer · amount: 1220.4 · debtor: Sound City Music Entertainment Inc. (o/a RPM Distribution) · creditor: C & S Cleaning Solutions · currency: CAD
unsecured creditorspage: 3 · as of: 2019-01-24 · basis: Statement of Affairs (Form 78) List A - Unsecured Creditors, as stated and estimated by the officer · amount: 520.34 · debtor: Sound City Music Entertainment Inc. (o/a RPM Distribution) · creditor: Cam Cartage Inc. · currency: CAD
unsecured creditorsnote: converted to CAD · page: 3 · as of: 2019-01-24 · basis: Statement of Affairs (Form 78) List A - Unsecured Creditors, as stated and estimated by the officer · amount: 2700 · debtor: Sound City Music Entertainment Inc. (o/a RPM Distribution) · creditor: COMPARATIO USA, LLC · currency: CAD
unsecured creditorsnote: Canada Revenue Agency tax claim (deemed trust class); nominal $1.00 as stated on List A · page: 3 · as of: 2019-01-24 · basis: Statement of Affairs (Form 78) List A - Unsecured Creditors, as stated and estimated by the officer · amount: 1 · debtor: Sound City Music Entertainment Inc. (o/a RPM Distribution) · creditor: CRA - Tax - Ontario · currency: CAD
unsecured creditorsnote: nominal $1.00 as stated on List A · page: 3 · as of: 2019-01-24 · basis: Statement of Affairs (Form 78) List A - Unsecured Creditors, as stated and estimated by the officer · amount: 1 · debtor: Sound City Music Entertainment Inc. (o/a RPM Distribution) · creditor: Delmark Records · currency: CAD
unsecured creditorspage: 3 · as of: 2019-01-24 · basis: Statement of Affairs (Form 78) List A - Unsecured Creditors, as stated and estimated by the officer · amount: 62106.83 · debtor: Sound City Music Entertainment Inc. (o/a RPM Distribution) · creditor: DISTRIBUTION SELECT · currency: CAD
unsecured creditorsnote: nominal $1.00 as stated on List A · page: 3 · as of: 2019-01-24 · basis: Statement of Affairs (Form 78) List A - Unsecured Creditors, as stated and estimated by the officer · amount: 1 · debtor: Sound City Music Entertainment Inc. (o/a RPM Distribution) · creditor: DISTRISALES BV · currency: CAD
unsecured creditorsnote: nominal $1.00 as stated on List A · page: 3 · as of: 2019-01-24 · basis: Statement of Affairs (Form 78) List A - Unsecured Creditors, as stated and estimated by the officer · amount: 1 · debtor: Sound City Music Entertainment Inc. (o/a RPM Distribution) · creditor: Enbridge Gas Distribution - Ontario · currency: CAD
unsecured creditorsnote: nominal $1.00 as stated on List A · page: 3 · as of: 2019-01-24 · basis: Statement of Affairs (Form 78) List A - Unsecured Creditors, as stated and estimated by the officer · amount: 1 · debtor: Sound City Music Entertainment Inc. (o/a RPM Distribution) · creditor: EPICOR SOFTWARE CANADA LTD. · currency: CAD
unsecured creditorspage: 3 · as of: 2019-01-24 · basis: Statement of Affairs (Form 78) List A - Unsecured Creditors, as stated and estimated by the officer · amount: 98209.38 · debtor: Sound City Music Entertainment Inc. (o/a RPM Distribution) · creditor: FAB DISTRIBUTION · currency: CAD
unsecured creditorsnote: converted to CAD · page: 3 · as of: 2019-01-24 · basis: Statement of Affairs (Form 78) List A - Unsecured Creditors, as stated and estimated by the officer · amount: 41611.09 · debtor: Sound City Music Entertainment Inc. (o/a RPM Distribution) · creditor: FAT CAT INTERNATIONAL LTD. · currency: CAD
unsecured creditorspage: 3 · as of: 2019-01-24 · basis: Statement of Affairs (Form 78) List A - Unsecured Creditors, as stated and estimated by the officer · amount: 6793.26 · debtor: Sound City Music Entertainment Inc. (o/a RPM Distribution) · creditor: FCL Fisker Customs & Logistics · currency: CAD
unsecured creditorsnote: nominal $1.00 as stated on List A · page: 3 · as of: 2019-01-24 · basis: Statement of Affairs (Form 78) List A - Unsecured Creditors, as stated and estimated by the officer · amount: 1 · debtor: Sound City Music Entertainment Inc. (o/a RPM Distribution) · creditor: Federal Express Canada Ltd. - Revenue Recovery Department · currency: CAD
unsecured creditorspage: 3 · as of: 2019-01-24 · basis: Statement of Affairs (Form 78) List A - Unsecured Creditors, as stated and estimated by the officer · amount: 389.17 · debtor: Sound City Music Entertainment Inc. (o/a RPM Distribution) · creditor: Liftow Limited · currency: CAD
unsecured creditorspage: 3 · as of: 2019-01-24 · basis: Statement of Affairs (Form 78) List A - Unsecured Creditors, as stated and estimated by the officer · amount: 765.81 · debtor: Sound City Music Entertainment Inc. (o/a RPM Distribution) · creditor: Ludger Daoust · currency: CAD
unsecured creditorspage: 3 · as of: 2019-01-24 · basis: Statement of Affairs (Form 78) List A - Unsecured Creditors, as stated and estimated by the officer · amount: 1202.69 · debtor: Sound City Music Entertainment Inc. (o/a RPM Distribution) · creditor: Mammone Disposal System Ltd. · currency: CAD
unsecured creditorspage: 3 · as of: 2019-01-24 · basis: Statement of Affairs (Form 78) List A - Unsecured Creditors, as stated and estimated by the officer · amount: 21777.31 · debtor: Sound City Music Entertainment Inc. (o/a RPM Distribution) · creditor: Mantoria Inc. · currency: CAD
unsecured creditorsnote: Ontario Ministry of Finance tax claim (PST, EHT & other taxes; regulatory/tax class); nominal $1.00 as stated on List A · page: 3 · as of: 2019-01-24 · basis: Statement of Affairs (Form 78) List A - Unsecured Creditors, as stated and estimated by the officer · amount: 1 · debtor: Sound City Music Entertainment Inc. (o/a RPM Distribution) · creditor: Ministry of Finance - ON PST, EHT & Other Taxes · currency: CAD
unsecured creditorspage: 3 · as of: 2019-01-24 · basis: Statement of Affairs (Form 78) List A - Unsecured Creditors, as stated and estimated by the officer · amount: 50283.11 · debtor: Sound City Music Entertainment Inc. (o/a RPM Distribution) · creditor: ECSolutions Inc. · currency: CAD
unsecured creditorsnote: converted to CAD · page: 4 · as of: 2019-01-24 · basis: Statement of Affairs (Form 78) List A - Unsecured Creditors, as stated and estimated by the officer · amount: 54038.34 · debtor: Sound City Music Entertainment Inc. (o/a RPM Distribution) · creditor: MUSIC DIRECT (MOBILE FIDELITY) · currency: CAD
unsecured creditorspage: 4 · as of: 2019-01-24 · basis: Statement of Affairs (Form 78) List A - Unsecured Creditors, as stated and estimated by the officer · amount: 16534.64 · debtor: Sound City Music Entertainment Inc. (o/a RPM Distribution) · creditor: MVD Entertainment Group · currency: CAD
unsecured creditorspage: 4 · as of: 2019-01-24 · basis: Statement of Affairs (Form 78) List A - Unsecured Creditors, as stated and estimated by the officer · amount: 4802.15 · debtor: Sound City Music Entertainment Inc. (o/a RPM Distribution) · creditor: NAXOS OF CANADA LTD. · currency: CAD
unsecured creditorspage: 4 · as of: 2019-01-24 · basis: Statement of Affairs (Form 78) List A - Unsecured Creditors, as stated and estimated by the officer · amount: 25577.55 · debtor: Sound City Music Entertainment Inc. (o/a RPM Distribution) · creditor: Olympic Plastic Bags Ltd · currency: CAD
unsecured creditorspage: 4 · as of: 2019-01-24 · basis: Statement of Affairs (Form 78) List A - Unsecured Creditors, as stated and estimated by the officer · amount: 126965.86 · debtor: Sound City Music Entertainment Inc. (o/a RPM Distribution) · creditor: OUTSIDE MUSIC · currency: CAD
unsecured creditorspage: 4 · as of: 2019-01-24 · basis: Statement of Affairs (Form 78) List A - Unsecured Creditors, as stated and estimated by the officer · amount: 61.87 · debtor: Sound City Music Entertainment Inc. (o/a RPM Distribution) · creditor: Packaging World Inc. · currency: CAD
unsecured creditorsnote: nominal $1.00 as stated on List A · page: 4 · as of: 2019-01-24 · basis: Statement of Affairs (Form 78) List A - Unsecured Creditors, as stated and estimated by the officer · amount: 1 · debtor: Sound City Music Entertainment Inc. (o/a RPM Distribution) · creditor: PowerStream Inc. · currency: CAD
unsecured creditorsnote: converted to CAD · page: 4 · as of: 2019-01-24 · basis: Statement of Affairs (Form 78) List A - Unsecured Creditors, as stated and estimated by the officer · amount: 3103.6 · debtor: Sound City Music Entertainment Inc. (o/a RPM Distribution) · creditor: PURE PLEASURE RECORDS LTD. · currency: CAD
unsecured creditorspage: 4 · as of: 2019-01-24 · basis: Statement of Affairs (Form 78) List A - Unsecured Creditors, as stated and estimated by the officer · amount: 7210.59 · debtor: Sound City Music Entertainment Inc. (o/a RPM Distribution) · creditor: Robert Bolduc · currency: CAD
unsecured creditorspage: 4 · as of: 2019-01-24 · basis: Statement of Affairs (Form 78) List A - Unsecured Creditors, as stated and estimated by the officer · amount: 1199.61 · debtor: Sound City Music Entertainment Inc. (o/a RPM Distribution) · creditor: Rocketline · currency: CAD
unsecured creditorsnote: nominal $1.00 as stated on List A · page: 4 · as of: 2019-01-24 · basis: Statement of Affairs (Form 78) List A - Unsecured Creditors, as stated and estimated by the officer · amount: 1 · debtor: Sound City Music Entertainment Inc. (o/a RPM Distribution) · creditor: Simply Media TV · currency: CAD
unsecured creditorspage: 4 · as of: 2019-01-24 · basis: Statement of Affairs (Form 78) List A - Unsecured Creditors, as stated and estimated by the officer · amount: 2042631.38 · debtor: Sound City Music Entertainment Inc. (o/a RPM Distribution) · creditor: SONY MUSIC CANADA · currency: CAD
unsecured creditorsnote: nominal $1.00 as stated on List A · page: 4 · as of: 2019-01-24 · basis: Statement of Affairs (Form 78) List A - Unsecured Creditors, as stated and estimated by the officer · amount: 1 · debtor: Sound City Music Entertainment Inc. (o/a RPM Distribution) · creditor: SPEAKER'S CORNER · currency: CAD
unsecured creditorsnote: listed as unsecured; nominal $1.00 as stated on List A · page: 4 · as of: 2019-01-24 · basis: Statement of Affairs (Form 78) List A - Unsecured Creditors, as stated and estimated by the officer · amount: 1 · debtor: Sound City Music Entertainment Inc. (o/a RPM Distribution) · creditor: TD Canada Trust · currency: CAD
unsecured creditorspage: 4 · as of: 2019-01-24 · basis: Statement of Affairs (Form 78) List A - Unsecured Creditors, as stated and estimated by the officer · amount: 101.61 · debtor: Sound City Music Entertainment Inc. (o/a RPM Distribution) · creditor: Uline Canada Corporation · currency: CAD
unsecured creditorspage: 4 · as of: 2019-01-24 · basis: Statement of Affairs (Form 78) List A - Unsecured Creditors, as stated and estimated by the officer · amount: 1757.2 · debtor: Sound City Music Entertainment Inc. (o/a RPM Distribution) · creditor: UNIDISC · currency: CAD
unsecured creditorspage: 4 · as of: 2019-01-24 · basis: Statement of Affairs (Form 78) List A - Unsecured Creditors, as stated and estimated by the officer · amount: 5360719.52 · debtor: Sound City Music Entertainment Inc. (o/a RPM Distribution) · creditor: UNIVERSAL MUSIC CANADA INC. · currency: CAD
unsecured creditorspage: 4 · as of: 2019-01-24 · basis: Statement of Affairs (Form 78) List A - Unsecured Creditors, as stated and estimated by the officer · amount: 1483.91 · debtor: Sound City Music Entertainment Inc. (o/a RPM Distribution) · creditor: Vitran Express · currency: CAD
unsecured creditorspage: 4 · as of: 2019-01-24 · basis: Statement of Affairs (Form 78) List A - Unsecured Creditors, as stated and estimated by the officer · amount: 800016.59 · debtor: Sound City Music Entertainment Inc. (o/a RPM Distribution) · creditor: WARNER MUSIC CANADA · currency: CAD
secured creditorsnote: List B (Secured Creditors); fully secured - balance of claim (unsecured shortfall) $0.00; Statement of Affairs summary shows balance of secured claims as per List B of $0.00 · page: 5 · as of: 2019-01-24 · amount: 55000 · debtor: Sound City Music Entertainment Inc. (o/a RPM Distribution) · creditor: Ford Credit Canada Limited · currency: CAD · security: Motor Vehicles - Automobile - 2018 Ford F-150; estimated value of security $55,000.00
unsecured creditorsnote: preferred creditor (landlord), ranks ahead of ordinary unsecured; nominal $1.00 as stated on List C; List C total $1.00 · page: 6 · as of: 2019-01-24 · basis: Statement of Affairs (Form 78) List C - Preferred Creditors for Wages, Rent, etc. · amount: 1 · debtor: Sound City Music Entertainment Inc. (o/a RPM Distribution) · creditor: Bentall Kennedy (Canada) LP · currency: CAD