Ontario · Bankruptcy

Creditor Package_

Notice to creditors · 30 April 2025

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commencement date29 April 2025
court file no31-3217079
financial positionnote: Liabilities comprise secured $50,104.00, preferred/priorities $2,000.00, unsecured $2,155,184.87, contingent/trust/other $0.00, per Form 78 summary; deficiency of $2,157,183.87 stated. Statement of Affairs states date of bankruptcy as 25 April 2025, whereas the accompanying Form 68 Notice states the assignment was filed 29 April 2025 - a discrepancy in the document itself. · page: 2 · as at: 2025-04-25 · basis: Statement of Affairs as stated and estimated by bankrupt/debtor (Form 78) · scope: Single entity - Akhal Tile & Global Trading Inc. · currency: CAD · total assets: 50105 · total liabilities: 2207288.87
unsecured creditorsnote: Bank loan (except real property mortgage); listed fully unsecured · page: 4 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 18330 · debtor: Akhal Tile & Global Trading Inc. · creditor: Business Development Bank of Canada (Toronto, Attn: Marla Gold) · currency: CAD
unsecured creditorsnote: Accounts payable · page: 4 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 31254.33 · debtor: Akhal Tile & Global Trading Inc. · creditor: Canada World Logistics Corp · currency: CAD
unsecured creditorsnote: Accounts payable · page: 4 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 14982 · debtor: Akhal Tile & Global Trading Inc. · creditor: 10084964 Canada Inc · currency: CAD
unsecured creditorsnote: Accounts payable · page: 4 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 650 · debtor: Akhal Tile & Global Trading Inc. · creditor: 2702826 Ontario Inc. · currency: CAD
unsecured creditorsnote: Accounts payable · page: 4 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 15127.51 · debtor: Akhal Tile & Global Trading Inc. · creditor: Ahmet Uslug · currency: CAD
unsecured creditorsnote: Accounts payable · page: 4 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 20000 · debtor: Akhal Tile & Global Trading Inc. · creditor: Bhai Bhelo Renovations Inc. · currency: CAD
unsecured creditorsnote: Accounts payable · page: 4 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 17000 · debtor: Akhal Tile & Global Trading Inc. · creditor: Biibo inc · currency: CAD
unsecured creditorsnote: Accounts payable · page: 4 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 60000 · debtor: Akhal Tile & Global Trading Inc. · creditor: Bizfund Canada · currency: CAD
unsecured creditorsnote: Bank loan (except real property mortgage); debt incurred 11-Jul-2023; listed fully unsecured · page: 4 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 161000 · debtor: Akhal Tile & Global Trading Inc. · creditor: BMO Financial Group (c/o Bankruptcy Highway.com, Attn: Mike Timko) · currency: CAD
unsecured creditorsnote: Accounts payable · page: 4 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 25000 · debtor: Akhal Tile & Global Trading Inc. · creditor: Canacap · currency: CAD
unsecured creditorsnote: Accounts payable · page: 4 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 5000 · debtor: Akhal Tile & Global Trading Inc. · creditor: Bold tree Inc-Sencer Ekinci · currency: CAD
unsecured creditorsnote: Accounts payable · page: 4 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 11000 · debtor: Akhal Tile & Global Trading Inc. · creditor: Brian's Reno · currency: CAD
unsecured creditorsnote: Bank loan (except real property mortgage); listed fully unsecured · page: 4 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 4750 · debtor: Akhal Tile & Global Trading Inc. · creditor: Business Development Bank of Canada (Mississauga, Attn: Bankruptcy Department) · currency: CAD
secured creditorsnote: Bifurcated claim: secured portion $50,100.00 / unsecured deficiency $38,284.31 (total claim $88,384.31 as stated); deemed-trust class (source deductions) · page: 5 · as of: 2025-04-25 · amount: 50100 · debtor: Akhal Tile & Global Trading Inc. · creditor: Canada Revenue Agency (CRA - Tax Ontario) · currency: CAD · security: Deemed trust claim - unremitted employee source deductions
unsecured creditorsnote: Accounts payable · page: 5 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 12847.87 · debtor: Akhal Tile & Global Trading Inc. · creditor: Cidermill South Property Ltd. · currency: CAD
unsecured creditorsnote: Sales taxes · page: 5 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 56026.72 · debtor: Akhal Tile & Global Trading Inc. · creditor: Canada Revenue Agency (CRA - Tax Ontario) · currency: CAD
unsecured creditorsnote: Accounts payable · page: 5 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 400000 · debtor: Akhal Tile & Global Trading Inc. · creditor: Capitex Finance Inc. · currency: CAD
unsecured creditorsnote: Accounts payable · page: 5 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 40000 · debtor: Akhal Tile & Global Trading Inc. · creditor: Clover · currency: CAD
unsecured creditorsnote: Corporate taxes · page: 5 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 1 · debtor: Akhal Tile & Global Trading Inc. · creditor: Canada Revenue Agency (CRA - Tax Ontario) · currency: CAD
unsecured creditorsnote: Bifurcated claim - secured portion $50,100.00 reported under secured creditors; deemed trust class (source deductions); total claim $88,384.31 · page: 5 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 38284.31 · debtor: Akhal Tile & Global Trading Inc. · creditor: Canada Revenue Agency (CRA - Tax Ontario) - employee source deductions (unsecured deficiency) · currency: CAD
secured creditorsnote: Each listed with nominal $1.00 secured amount in Statement of Affairs (notification/placeholder values, total $4.00 as summed from the four line items); CWB National Leasing Inc. also carries a $720.00 unsecured deficiency (bifurcated claim, total $721.00), reported separately under unsecured creditors · page: 6 · as of: 2025-04-25 · amount: 4 · debtor: Akhal Tile & Global Trading Inc. · creditor: PPSA equipment financiers (PMSI class) · currency: CAD · security: Purchase-money security interests over specific serialized vehicles/equipment: CWB National Leasing Inc. - 2018 Caterpillar machinery (asset #1102); Policaro Leasing Ltd. - 2023 BMW X7 (asset #801); RBC Royal Bank - 2023 Jeep Grand Cherokee & 2024 Ram Promaster (assets #802/803); Vault Credit Corporation - 2018 Caterpillar machinery (asset #1101)
unsecured creditorsnote: Accounts payable · page: 6 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 128820 · debtor: Akhal Tile & Global Trading Inc. · creditor: Ebubekir Kaan Turner · currency: CAD
unsecured creditorsnote: Bifurcated claim - secured portion $1.00 reported under PPSA equipment financiers (PMSI class); debt incurred 19-Apr-2022; total claim $721.00 · page: 6 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 720 · debtor: Akhal Tile & Global Trading Inc. · creditor: CWB National Leasing Inc. (unsecured deficiency) · currency: CAD
unsecured creditorsnote: Accounts payable · page: 6 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 5267.31 · debtor: Akhal Tile & Global Trading Inc. · creditor: D & V Hardwood Flooring · currency: CAD
unsecured creditorsnote: Accounts payable · page: 6 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 13000 · debtor: Akhal Tile & Global Trading Inc. · creditor: Ellam Contruction Inc · currency: CAD
unsecured creditorsnote: Accounts payable · page: 6 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 30000 · debtor: Akhal Tile & Global Trading Inc. · creditor: Enze Stone Inc. · currency: CAD
unsecured creditorsnote: Finance company loan; listed fully unsecured · page: 6 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 1 · debtor: Akhal Tile & Global Trading Inc. · creditor: Financeit (c/o FCT Bankruptcy Default Solutions) · currency: CAD
unsecured creditorsnote: Accounts payable · page: 6 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 100000 · debtor: Akhal Tile & Global Trading Inc. · creditor: Foreing Land Ltd. · currency: CAD
unsecured creditorsnote: Accounts payable · page: 6 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 27000 · debtor: Akhal Tile & Global Trading Inc. · creditor: Galaxy Kitchen & Renovation Inc. · currency: CAD
unsecured creditorsnote: Accounts payable · page: 6 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 1684.48 · debtor: Akhal Tile & Global Trading Inc. · creditor: Global CFS · currency: CAD
unsecured creditorsnote: Accounts payable · page: 6 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 8588 · debtor: Akhal Tile & Global Trading Inc. · creditor: Green house design Ltd · currency: CAD
unsecured creditorsnote: Preferred claim: $2,000.00 preferred (unpaid wages) + $500.00 ordinary unsecured (total claim $2,500.00 as stated) · page: 6 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 2500 · debtor: Akhal Tile & Global Trading Inc. · creditor: Greg Jacobs · currency: CAD
unsecured creditorsnote: Accounts payable · page: 6 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 8000 · debtor: Akhal Tile & Global Trading Inc. · creditor: GTA Drywall and Taping Inc · currency: CAD
unsecured creditorsnote: Accounts payable · page: 6 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 3400 · debtor: Akhal Tile & Global Trading Inc. · creditor: Gurbhejsidhu · currency: CAD
unsecured creditorsnote: Accounts payable · page: 7 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 19894.63 · debtor: Akhal Tile & Global Trading Inc. · creditor: H Home Renovation & Remodelling Inc. · currency: CAD
unsecured creditorsnote: Accounts payable · page: 7 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 2500 · debtor: Akhal Tile & Global Trading Inc. · creditor: Htc Kitchen Cabinets Inc · currency: CAD
unsecured creditorsnote: Accounts payable · page: 7 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 80000 · debtor: Akhal Tile & Global Trading Inc. · creditor: Item Brother Inc · currency: CAD
unsecured creditorsnote: Accounts payable · page: 7 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 45000 · debtor: Akhal Tile & Global Trading Inc. · creditor: Hope Rain Canada Ltd. · currency: CAD
unsecured creditorsnote: Accounts payable · page: 7 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 14149 · debtor: Akhal Tile & Global Trading Inc. · creditor: Jason Caplan · currency: CAD
unsecured creditorsnote: Accounts payable · page: 7 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 4000 · debtor: Akhal Tile & Global Trading Inc. · creditor: JGM Renovation Inc. · currency: CAD
unsecured creditorsnote: Accounts payable · page: 7 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 12500 · debtor: Akhal Tile & Global Trading Inc. · creditor: Kaan Kaleli · currency: CAD
unsecured creditorsnote: Accounts payable · page: 7 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 30000 · debtor: Akhal Tile & Global Trading Inc. · creditor: Mahmut Kaya · currency: CAD
unsecured creditorsnote: Accounts payable · page: 7 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 35000 · debtor: Akhal Tile & Global Trading Inc. · creditor: Mirza Shukurov · currency: CAD
unsecured creditorsnote: Shareholder loan; related party (director/shareholder of debtor, signer of Statement of Affairs) · page: 7 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 247757 · debtor: Akhal Tile & Global Trading Inc. · creditor: Muhammet Duhan Laloglu · currency: CAD
unsecured creditorsnote: Accounts payable · page: 7 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 5000 · debtor: Akhal Tile & Global Trading Inc. · creditor: Murat Bolge · currency: CAD
unsecured creditorsnote: Accounts payable · page: 7 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 10000 · debtor: Akhal Tile & Global Trading Inc. · creditor: NOBLE PRIME SOLUTIONS LTD. · currency: CAD
unsecured creditorsnote: Accounts payable · page: 7 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 200000 · debtor: Akhal Tile & Global Trading Inc. · creditor: Prodeck Fence Inc. · currency: CAD
unsecured creditorsnote: Accounts payable · page: 7 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 1717.83 · debtor: Akhal Tile & Global Trading Inc. · creditor: Prosal Inc · currency: CAD
unsecured creditorsnote: Accounts payable · page: 7 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 8447 · debtor: Akhal Tile & Global Trading Inc. · creditor: QC RAILINGS INC · currency: CAD
unsecured creditorsnote: Accounts payable · page: 7 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 60000 · debtor: Akhal Tile & Global Trading Inc. · creditor: Harson Building · currency: CAD
unsecured creditorsnote: Accounts payable · page: 8 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 3489.77 · debtor: Akhal Tile & Global Trading Inc. · creditor: RCC Group Inc. · currency: CAD
unsecured creditorsnote: Accounts payable · page: 8 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 31485 · debtor: Akhal Tile & Global Trading Inc. · creditor: RK Fairdeal Kitchen And Cabinets · currency: CAD
unsecured creditorsnote: Accounts payable · page: 8 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 22500 · debtor: Akhal Tile & Global Trading Inc. · creditor: Sadullah Dede · currency: CAD
unsecured creditorsnote: Accounts payable · page: 8 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 24000 · debtor: Akhal Tile & Global Trading Inc. · creditor: Star MX · currency: CAD
unsecured creditorsnote: Accounts payable · page: 8 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 9000 · debtor: Akhal Tile & Global Trading Inc. · creditor: Suly Inc. · currency: CAD
unsecured creditorsnote: Accounts payable · page: 8 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 1 · debtor: Akhal Tile & Global Trading Inc. · creditor: Synergy Financial · currency: CAD
unsecured creditorsnote: Accounts payable · page: 8 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 1262.5 · debtor: Akhal Tile & Global Trading Inc. · creditor: Toromont Leasing · currency: CAD
unsecured creditorsnote: Accounts payable · page: 8 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 7582 · debtor: Akhal Tile & Global Trading Inc. · creditor: Universal Kitchen · currency: CAD
unsecured creditorsnote: Accounts payable · page: 8 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 7229.48 · debtor: Akhal Tile & Global Trading Inc. · creditor: Valora Flooring Inc. · currency: CAD
unsecured creditorsnote: Accounts payable · page: 8 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 2376.82 · debtor: Akhal Tile & Global Trading Inc. · creditor: Waste Connection of Canada - Toronto · currency: CAD
unsecured creditorsnote: Accounts payable · page: 8 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 8300 · debtor: Akhal Tile & Global Trading Inc. · creditor: Yuksel Ustuy-YK Painting · currency: CAD
unsecured creditorsnote: Accounts payable · page: 8 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 1045 · debtor: Akhal Tile & Global Trading Inc. · creditor: Riti Glass and Mirror · currency: CAD
unsecured creditorsnote: Accounts payable · page: 9 · as of: 2025-04-25 · basis: Statement of Affairs as reported (Form 78) · amount: 2713.31 · debtor: Akhal Tile & Global Trading Inc. · creditor: YYZ Electric - 100019843 · currency: CAD