Ontario · Bankruptcy
Preliminary Report of Trustee
Court officer report · 7 October 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 filing12 verified
- appointeeMNP Ltd.
- appointee roleLicensed Insolvency Trustee
- commencement date16 September 2026
- court file no35-3426068
- secured creditorsnote: Municipal tax claim (registered amount). No claim filed in the estate as of the report date. · page: 2 · as of: 2025-10-16 · amount: 171798 · debtor: WM Tool Inc. · creditor: The Corporation of the City of Windsor · currency: CAD · security: Tax certificate registered against the Real Property on October 16, 2025 in the amount of $171,798
- secured creditorsnote: The $2,000,000 is the registered charge amount, not a confirmed outstanding balance. No claim filed in the estate. Helen Schmidt is understood to be executor of Henry Schmidt's estate and now responsible for the charge; her counsel has undertaken to provide details of debts owing and security documents, which the Trustee is awaiting. The Statement of Affairs lists secured claims at only $2. · page: 2 · as of: 1995-04-28 · amount: 2000000 · debtor: WM Tool Inc. · creditor: Henry Schmidt (estate; Helen Schmidt, executor) · currency: CAD · security: Charge registered against the Real Property (3280 Devon Drive, Windsor) on April 28, 1995 in the amount of $2,000,000
- secured creditorsnote: No amount disclosed. Related party (sole registered director). No claim or proof of security filed. Trustee sent a s.128(1) BIA notice on September 21, 2026 requiring proof of claim and proof of security by October 21, 2026, failing which the Trustee may apply to the Court to sell the assets free of his security claim. · page: 2 · as of: 2011-11-06 · debtor: WM Tool Inc. · creditor: Joseph Schmidt · currency: CAD · security: General security against all personal property and accounts, registered November 6, 2011
- unsecured creditorsnote: The report names no individual unsecured creditors. Proofs of claim filed to date total $266,862 (a different figure from the amount reported on the Statement of Affairs). Preferred and deemed trust claims are stated as nil. · page: 2 · basis: Per Statement of Affairs; creditors listed were those the Trustee was aware of through the Court record and other publicly available information, as Joseph Schmidt has not responded to the Trustee's request for creditor details · amount: 2478070 · debtor: WM Tool Inc. · creditor: Unsecured creditors (aggregate as reported) · currency: CAD
- secured creditorsnote: No amount disclosed. No claim filed. Her counsel has undertaken to provide details of debts owing and security documents, which the Trustee is awaiting; counsel provided evidence that she is maintaining insurance on the Company assets. Also executor of Henry Schmidt's estate. Security opinions pending (quantum and validity of security registrations not yet known). · page: 3 · as of: 2026-02-17 · debtor: WM Tool Inc. · creditor: Helen Schmidt · currency: CAD · security: General security against all personal property and accounts, registered February 17, 2026
- provinceOntario
- operational summaryThe Company's operations ceased prior to bankruptcy; the Trustee believes it has not operated for at least several months and has secured the real property, equipment and vehicles by changing the locks.
- report date10 October 2026