Quebec · Bankruptcy
Trustee's Report on Preliminary Administration
Court officer report · 29 July 2026
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What we verified from this filing12 verified
- appointeeMNP Ltd
- appointee roleTrustee
- commencement date29 June 2026
- courtSUPERIOR COURT
- court file no500-11-067322-269
- provincePROVINCE OF QUEBEC
- financial positionnote: Assets are stated as fully encumbered in favour of secured creditors and/or lessors, leaving no realizable equity (para. 7, note 1). Realization to date on assets is $181,000 (page 2). Liabilities total of $2,252,022 comprises Secured Creditor $1,394,022 and Unsecured Creditor $858,000 per Statement of Affairs; amounts received to date total $1,181,996 (page 3). · page: 2 · basis: Non-audited figures per books and records of the Debtor (assets, per para. 7, page 2) and per the Statement of Affairs (liabilities, per para. 19, page 3); no single as-at date stated. · scope: Game On Creative Inc. (single entity) · currency: CAD · total assets: 2635845 · total liabilities: 2252022
- secured creditorsnote: No proof of claim received to date (shown as $- / nil). Section B (para 11) states BMO's indebtedness is 'approximately $213,000' (prose approximation, close to the exact SOA figure). BMO exercised right of set-off against ~$25,000 held in Debtor's USD account. · page: 3 · as of: Statement of Affairs · amount: 212998 · debtor: Game On Creative Inc. · creditor: Banque de Montréal (BMO) · currency: CAD · security: Conventional hypothec ranking (first-ranking, over all movable assets excluding equipment and leasehold improvements, per Trustee's understanding)
- secured creditorsnote: As per Statement of Affairs the amount was stated as $1,181,023; exact proof of claim received to date ($1,181,410) used as amount per document's own figures. Trustee received a Proof of Claim of Property and a secured Proof of Claim from RBC. On July 13, 2026, RBC issued a Notice of Intention to Enforce Security and to Exercise a hypothecary right by way of sale under judicial authority. · page: 3 · as of: Proof of claim received to date · amount: 1181410 · debtor: Game On Creative Inc. · creditor: RBC Royal Bank / Banque Royale · currency: CAD · security: Conventional hypothec ranking (first-ranking), plus lease agreement over Debtor's equipment and leasehold improvements
- secured creditorsnote: Nominal $1 amount per Statement of Affairs; no proof of claim received to date. Per Trustee's knowledge, underlying leased equipment has been paid in full as of the date of the report. · page: 3 · as of: Statement of Affairs · amount: 1 · debtor: Game On Creative Inc. · creditor: RCAP Leasing Inc. · currency: CAD · security: Conventional hypothec ranking; ownership rights as lessor under equipment lease agreements
- unsecured creditorsnote: Document states only an aggregate figure; no individual unsecured creditors are named. Proofs of claim received to date total only $586 (a different, much smaller figure from proofs actually filed). · page: 3 · as of: Statement of Affairs · basis: Statement of Affairs as reported · amount: 858000 · debtor: Game On Creative Inc. · creditor: Unsecured creditors (aggregate as reported) · currency: CAD
- recovery outcomeentries: basis: actual · quote: RCAP Leasing Inc. holds ownership rights as lessor under certain equipment lease agreements relating to specific assets, which, to the Trustee's knowledge, have been paid in full as of the date hereof. · pct of: unstated · outcome: paid_in_full · class key: pmsi_lessor · stated by: trustee · class label: RCAP Leasing Inc. · creditor name: RCAP Leasing Inc. · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: The anticipated realization is insufficient to pay all of the secured creditors in full, therefore there is no anticipated dividend to the unsecured creditors. · pct of: unstated · outcome: shortfall · class key: secured · stated by: trustee · class label: secured creditors · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: The anticipated realization is insufficient to pay all of the secured creditors in full, therefore there is no anticipated dividend to the unsecured creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated · table missing: