Newfoundland and Labrador · CCAA
Karwood Pre-Filing Report dated January 31, 2025
Pre-filing report · 31 January 2025
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing10 verified
- secured creditorsnote: Approximate amount per management · page: 6 · amount: 650000 · debtor: Karwood Contracting Ltd. · creditor: Bank of Montreal (BMO) · currency: CAD · security: Mortgage against one (1) complete and five (5) partially complete residential homes in Paradise, NL
- secured creditorsnote: Approximate amount per management · page: 6 · amount: 150000 · debtor: Karwood Contracting Ltd. · creditor: Bank of Montreal (BMO) · currency: CAD · security: General security agreement securing revolving line of credit
- secured creditorsnote: Approximate amount per management · page: 6 · amount: 650000 · debtor: Karwood Contracting Ltd. · creditor: Boreal Atlantic Ltd. · currency: CAD · security: Mortgage against 7,318 sq. m parcel of land on Kenmount Road, Paradise, NL
- secured creditorsnote: Related party: Tammy Oram is a current employee; security is subordinated (cession of rank noted). Approximate amount per management. · page: 6 · amount: 160000 · debtor: Karwood Contracting Ltd. · creditor: Tammy and Randy Oram · currency: CAD · security: Subordinated mortgage on two (2) partially complete residential homes in Paradise, NL
- secured creditorsnote: No amount stated · page: 6 · debtor: Karwood Contracting Ltd. · creditor: Ford Credit Canada Company (PPSA equipment financiers (PMSI class)) · currency: CAD · security: Purchase Money Security Interest (PMSI) related to equipment and vehicle financing
- secured creditorsnote: Approximate amount per management · page: 6 · amount: 1300000 · debtor: Karwood Ontario Ltd. · creditor: Libro Credit Union Ltd. · currency: CAD · security: Mortgage against two (2) completed residential homes in Belmont and St. Thomas, Ontario
- secured creditorsnote: No amount stated · page: 6 · debtor: Karwood Ontario Ltd. · creditor: Axiom Leasing Inc. and BMW Canada Inc. (PPSA equipment financiers (PMSI class)) · currency: CAD · security: Purchase Money Security Interests (PMSIs) related to equipment and vehicle financing
- secured creditorsnote: Deemed trust class; management estimates approximately $96,000 in unremitted source deductions and $350,000 in unremitted HST (components not summed, reconciliation in progress) · page: 6 · debtor: Karwood Contracting Ltd. · creditor: Canada Revenue Agency (CRA) · currency: CAD
- secured creditorsnote: Deemed trust class; management estimates approximately $30,000 in unremitted source deductions and $176,000 in unremitted HST (components not summed, reconciliation in progress) · page: 7 · debtor: Karwood Ontario Ltd. · creditor: Canada Revenue Agency (CRA) · currency: CAD
- secured creditorsnote: Deemed trust class; current on source deduction remittances; management estimates approximately $99,000 in unremitted HST · page: 7 · debtor: Karwood Engineering Inc. · creditor: Canada Revenue Agency (CRA) · currency: CAD