Ontario · Bankruptcy
Creditor's Package - 14111231 Canada Inc.
Meeting materials · 24 September 2026
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 filing11 verified
- financial positionnote: Liabilities: secured $1.00, preferred $0.00, unsecured $1,075,341.93, contingent $0.00, total $1,075,342.93. Document states deficiency of $1,075,341.93 (its 'Surplus' line shows the same figure unsigned; the Deficiency line is the operative one). Reason for difficulty: lack of working capital/funding; bankruptcy order issued. Trustee letter: 'unlikely that there will be a distribution to any creditors'. Statement of Affairs sworn dated 16 Sept 2026 whereas bankruptcy date is 9 Sept 2026. · page: 4 · as at: 2026-09-16 · basis: Statement of Affairs (Form 78) as sworn/declared by director Khalid Syed on 16 Sept 2026 'on the date of the bankruptcy' per form text referencing 16th day of September 2026; assets stated as cash on hand/in bank $1.00 only · scope: 14111231 Canada Inc. (single entity, corporate bankruptcy); bankruptcy filed/order effective 9 September 2026 per Form 68 and trustee letter · currency: CAD · total assets: 1 · total liabilities: 1075342.93
- unsecured creditorsnote: Aggregate of the six itemised creditors above (the document's own total); not an additional claim. No proofs of claim filed figures are stated. Trustee states a distribution to creditors is unlikely. · page: 4 · as of: 2026-09-16 · basis: Statement of Affairs (Form 78) total, line 3 Unsecured creditors, as sworn by the debtor's director; reported, not proven · amount: 1075341.93 · debtor: 14111231 Canada Inc. · creditor: Unsecured creditors (aggregate as reported) · currency: CAD
- secured creditorsnote: Form 78 splits the claim: $1.00 secured (equal to the $1.00 value of the cash asset securing it) and $910,469.54 unsecured (security shortfall); total claim $910,470.54. Amount left null because only the secured portion ($1.00) and the total are stated as components. Amounts are the debtor's own Statement of Affairs figures, not proven claims. · page: 6 · debtor: 14111231 Canada Inc. · creditor: National Bank of Canada c/o Dickinson Wright LLP (Attn: Talya R. Bertler) · currency: CAD · security: Statement of Affairs lists a secured claim, secured by asset no. 101 (cash on hand/in bank); date given/incurred 01-Jan-2025; total claim shown as $910,470.54 (unsecured portion $910,469.54 + secured portion $1.00)
- unsecured creditorsnote: Second CRA account (RP0001); date given/incurred 01-Jan-2025; listed in unsecured column with no priority amount. · page: 6 · as of: 2026-09-16 · basis: Statement of Affairs (Form 78) as reported by the debtor; listed as unsecured, no priority claimed · amount: 5762.65 · debtor: 14111231 Canada Inc. · creditor: CRA - GST/HST - Jonquiere (Attn: Quebec Insolvency Intake Centre), account 721869105 RP0001 · currency: CAD
- unsecured creditorsnote: Listed as unsecured; no priority claimed. · page: 6 · as of: 2026-09-16 · basis: Statement of Affairs (Form 78) as reported by the debtor; details 'AP' (accounts payable) · amount: 11500 · debtor: 14111231 Canada Inc. · creditor: Ministry of Labour · currency: CAD
- unsecured creditorsnote: Franchisor; the $1.00 figure appears to be a nominal placeholder, not a stated balance owing. · page: 6 · as of: 2026-09-16 · basis: Statement of Affairs (Form 78) as reported by the debtor; nominal $1.00 placeholder · amount: 1 · debtor: 14111231 Canada Inc. · creditor: Popeyes Franchisor (5707 Blue Lagoon Drive, Miami FL) · currency: CAD
- unsecured creditorsnote: Loan; relationship to the debtor not stated in the document. · page: 6 · as of: 2026-09-16 · basis: Statement of Affairs (Form 78) as reported by the debtor; details 'Loan' · amount: 55000 · debtor: 14111231 Canada Inc. · creditor: Muhammad Amjad · currency: CAD
- unsecured creditorsnote: Unsecured portion (security shortfall) of National Bank of Canada claim; total claim $910,470.54 including $1.00 secured portion; claim dated 01-Jan-2025 per Form 78. · page: 6 · as of: 2026-09-16 · basis: Statement of Affairs (Form 78) as sworn by the company's director; unsecured portion of a claim where security covers only $1.00 · amount: 910469.54 · debtor: 14111231 Canada Inc. · creditor: National Bank of Canada c/o Dickinson Wright LLP (Attn: Talya R. Bertler) · currency: CAD
- unsecured creditorsnote: GST/HST account; Form 78 lists it in the unsecured column with no preferred/priority amount, although CRA GST/HST may carry deemed-trust priority; nature of liability marked 'Other'. · page: 6 · as of: 2026-09-16 · basis: Statement of Affairs (Form 78) as reported by the debtor; listed as unsecured, no priority claimed · amount: 92608.74 · debtor: 14111231 Canada Inc. · creditor: CRA - GST/HST - Jonquiere (Attn: Quebec Insolvency Intake Centre), account 721869105 RT0001 · currency: CAD
- financial positionnote: Total liabilities per the sworn Form 78 break down as unsecured creditors $1,075,341.93, secured creditors $1.00, preferred creditors $0.00, contingent liabilities $0.00; deficiency $1,075,341.93. The Form 78 is stated as of the 9th day of September 2026 (date of bankruptcy). The Trustee's cover letter states it is unlikely there will be a distribution to any creditors. · as at: 2026-09-09 · basis: Form 78 Statement of Affairs, sworn/declared by Khalid Zia Syed; asset shown is a nominal $1.00 'Cash on hand'. The Form 78 is garbled by font encoding, so these figures were read from the legible numeric layout (total assets 1.00; deficiency 1,075,341.93; total liabilities 1,075,342.93). · scope: 14111231 Canada Inc. (single entity, City of Toronto, Ontario) · currency: CAD · total assets: 1 · total liabilities: 1075342.93
- recovery outcomeentries: basis: estimated · quote: Based on the Trustee's review of the Company's Statement of Affairs and other available information, it is unlikely that there will be a distribution to any creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: creditors · interim final: unstated · claims qualifier: unstated · stated on: 2026-09-24 · table missing: