Ontario · NOI
Trustee's Report to Creditors on Preliminary Administration dated June 25, 2024
Court officer report · 25 June 2024
What we verified from this filing7 verified
- cash on handnote: Funds advanced by the Purchaser on closing of the Transaction to fund administration of the bankruptcy, held in the Trustee's trust account. · as at: 2024-05-24 · amount: 100000 · currency: CAD · qualifier: approximately
- closing confirmedscope: substantially all of the Company's business and assets · outcome: completed · effective: 2024-05-24 · purchaser: 1000826405 Ontario Inc. · date basis: stated · approval order date: 2024-04-03
- financial positionnote: Company has no assets following the Transaction; secured debt owing to Trinity (~$20.7 million) and Avren (~$2.6 million) was assumed by the Purchaser so Company has no secured creditors; no known preferred creditors as at date of bankruptcy; unsecured creditors estimated at approximately $27.8 million as at date of bankruptcy per Company's books and records; three proofs of claim received totaling approximately $102,000 as at date of Report. · basis: unaudited financial information supplied by the Company; Company's books and records; statement of affairs · scope: entity - 14328710 Canada Inc. (f/k/a Go-For Industries Inc.) · currency: CAD · total assets: 0
- operational summaryThe Company sold substantially all of its business and assets to the Purchaser under the Transaction and, following closing, has no remaining assets or ongoing operations; all employees were assumed by the Purchaser and the Company was subsequently deemed bankrupt.
- purchaser1000826405 Ontario Inc.
- report date25 June 2024
- sale outcometext: The Transaction resulted in the sale of substantially all of the business and assets of the Company · scope: whole_business · status: closed