Ontario · NOI
Omni Holding Proposal creditor notice package
Notice to creditors · 1 April 2025
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 filing25 verified
- secured creditorsnote: Referred to in the Proposal as the 'Excluded Secured Creditor'; RBC is not required to file a Proof of Claim and its claim is excluded from the Proposal. RBC has agreed (forbearance agreement dated March 3, 2025) to forbear from enforcing security to allow completion of the SISP, with repayment in full by June 20, 2025. Statement of Affairs (sworn March 28, 2025, liabilities as at NOI Filing Date Feb 26, 2025) records the secured claim at $1,647,277.00 with an estimated security surplus of $3,498,205.20 against listed collateral (assets 101,102,1301-1306,1101,1102,201,501,801-811). Bank Held Cash of $679,412.14 (as of Feb 21, 2025) is expected to be applied as a set-off against this indebtedness. Trustee has not obtained an independent legal opinion on validity/enforceability of RBC's security. · page: 11 · as of: 2025-02-21 · amount: 1647277.42 · debtor: Omni Equipment Group Inc. · creditor: Royal Bank of Canada (RBC) · currency: CAD · security: General Security Agreement dated October 16, 2019, which the Trustee assumes creates a first-ranking charge over all of Omni's Property; also security/conditional sales contract over a 2021 Jeep Grand Cherokee (asset no. 807)
- financial positionnote: Resulting deficiency of $7,626,143.24. Includes $3,568,657.00 of contingent/trust liabilities (guarantees of related-party mortgages and a pending lawsuit) in addition to $3,336,423.44 of ordinary unsecured claims and $1,647,277.00 secured claim (RBC). Trustee's Report to Creditors separately states there are 'no known Preferred Creditors whose Claims are to be paid in priority to Claims of the Unsecured Creditors.' · page: 41 · as at: Assets as at Proposal filing date (2025-03-28); estimated liabilities as at NOI Filing Date (2025-02-26) · basis: Statement of Affairs (Form 78, Corporate Proposal) - values as stated and estimated by the debtor/management; sworn by Paolo Palmo De Francesca on March 28, 2025. Trustee notes it has not prepared an in-depth analysis or audit of these figures and cash/AR/inventory values fluctuate; FLV appraisal inventory/equipment values (as at Jan 24, 2025, forced-liquidation basis) not disclosed on the SOA to avoid prejudicing the SISP. · scope: Omni Equipment Group Inc. (single entity, unconsolidated) · currency: CAD · total assets: 926214.2 · total liabilities: 8552357.44
- unsecured creditorsnote: Quebec sales tax (QST) arrears - Revenu Québec claim (deemed-trust class). · page: 44 · as of: NOI filing date (2025-02-26) · basis: Statement of Affairs (Form 78) as sworn/reported by debtor · amount: 50311 · debtor: Omni Equipment Group Inc. · creditor: Agence du revenu du Québec · currency: CAD
- unsecured creditorsnote: Trade accounts payable. · page: 44 · as of: NOI filing date (2025-02-26) · basis: Statement of Affairs (Form 78) as sworn/reported by debtor · amount: 60925 · debtor: Omni Equipment Group Inc. · creditor: ASR Cargo Systems Inc. · currency: CAD
- unsecured creditorsnote: Insurance policy account. · page: 44 · as of: NOI filing date (2025-02-26) · basis: Statement of Affairs (Form 78) as sworn/reported by debtor · amount: 29281.96 · debtor: Omni Equipment Group Inc. · creditor: AVIVA Canada Inc. · currency: CAD
- unsecured creditorsnote: Trade creditor. · page: 44 · as of: NOI filing date (2025-02-26) · basis: Statement of Affairs (Form 78) as sworn/reported by debtor · amount: 21114 · debtor: Omni Equipment Group Inc. · creditor: BC Chemical Innovators · currency: CAD
- unsecured creditorsnote: Finance company loan relating to a Peterson Transport Inc. lease; listed as unsecured (Secured column = $0.00) despite finance-company nature. · page: 44 · as of: NOI filing date (2025-02-26) · basis: Statement of Affairs (Form 78) as sworn/reported by debtor · amount: 222098 · debtor: Omni Equipment Group Inc. · creditor: Bodkin Leasing Corporation · currency: CAD
- unsecured creditorsnote: Finance company loan (OLF Loan), account 170648-02; separate BDC facility from the CDAP Loan. · page: 44 · as of: NOI filing date (2025-02-26) · basis: Statement of Affairs (Form 78) as sworn/reported by debtor · amount: 16600 · debtor: Omni Equipment Group Inc. · creditor: Business Development Bank of Canada - Toronto (OLF Loan) · currency: CAD
- unsecured creditorsnote: Finance company loan (CDAP Loan), account 170648-03. · page: 44 · as of: NOI filing date (2025-02-26) · basis: Statement of Affairs (Form 78) as sworn/reported by debtor · amount: 96280 · debtor: Omni Equipment Group Inc. · creditor: Business Development Bank of Canada (CDAP Loan) · currency: CAD
- unsecured creditorsnote: Contingent liability - lawsuit (litigation/legal costs and awards); per Trustee's Report to Creditors, no judgment has been issued as of report date. · page: 44 · as of: NOI filing date (2025-02-26) · basis: Statement of Affairs (Form 78) as sworn/reported by debtor · amount: 268657 · debtor: Omni Equipment Group Inc. · creditor: 1000413536 Ontario Inc. · currency: CAD
- unsecured creditorsnote: GST/HST arrears - Crown claim (deemed trust class). Trustee's Report to Creditors (as of April 1, 2025) confirms proof of claim received from CRA in this exact amount. · page: 45 · as of: NOI filing date (2025-02-26) · basis: Statement of Affairs (Form 78) as sworn/reported by debtor · amount: 647893.77 · debtor: Omni Equipment Group Inc. · creditor: CRA - GST/HST (Shawinigan-Sud) · currency: CAD
- unsecured creditorsnote: Intercompany debt; Canaquip is a related person to Omni due to common ownership. · page: 45 · as of: NOI filing date (2025-02-26) · basis: Statement of Affairs (Form 78) as sworn/reported by debtor · amount: 1176198 · debtor: Omni Equipment Group Inc. · creditor: Canaquip Inc. · currency: CAD
- unsecured creditorsnote: Corporate income tax arrears - Crown claim (deemed trust class). Trustee's Report to Creditors (as of April 1, 2025) confirms proof of claim received from CRA in this exact amount. · page: 45 · as of: NOI filing date (2025-02-26) · basis: Statement of Affairs (Form 78) as sworn/reported by debtor · amount: 575273.42 · debtor: Omni Equipment Group Inc. · creditor: CRA - Tax - Ontario (corporate income tax) · currency: CAD
- unsecured creditorsnote: Contingent liability - Omni's guarantee of mortgage loan(s) made to the Deceased Estate of Carlo De Francesca; named individual lender is Dolores Miccio; not yet crystallized as of report date. · page: 45 · as of: NOI filing date (2025-02-26) · basis: Statement of Affairs (Form 78) as sworn/reported by debtor · amount: 1600000 · debtor: Omni Equipment Group Inc. · creditor: Third-party mortgage lender (individual) - guarantee beneficiary · currency: CAD
- unsecured creditorsnote: Contingent liability - Omni's guarantee of a mortgage loan to 1000285495 Ontario Inc. (owner of the Toryork Warehouse), a related person to Omni; not yet crystallized as of report date. · page: 45 · as of: NOI filing date (2025-02-26) · basis: Statement of Affairs (Form 78) as sworn/reported by debtor · amount: 1700000 · debtor: Omni Equipment Group Inc. · creditor: DUCA Financial Services Credit Union Ltd. · currency: CAD
- unsecured creditorsnote: Intercompany debt; related party. · page: 45 · as of: NOI filing date (2025-02-26) · basis: Statement of Affairs (Form 78) as sworn/reported by debtor · amount: 139083 · debtor: Omni Equipment Group Inc. · creditor: Econoquip Ltd. · currency: CAD
- unsecured creditorsnote: Provincial sales tax (PST) arrears. · page: 46 · as of: NOI filing date (2025-02-26) · basis: Statement of Affairs (Form 78) as sworn/reported by debtor · amount: 3271 · debtor: Omni Equipment Group Inc. · creditor: Ministry of Finance - Saskatchewan · currency: CAD
- unsecured creditorsnote: Trade accounts payable. · page: 46 · as of: NOI filing date (2025-02-26) · basis: Statement of Affairs (Form 78) as sworn/reported by debtor · amount: 7016 · debtor: Omni Equipment Group Inc. · creditor: Kulwant Transport Solutions Inc. · currency: CAD
- unsecured creditorsnote: Legal fees. · page: 46 · as of: NOI filing date (2025-02-26) · basis: Statement of Affairs (Form 78) as sworn/reported by debtor · amount: 8069.6 · debtor: Omni Equipment Group Inc. · creditor: Lippes Mathias LLP · currency: CAD
- unsecured creditorsnote: Provincial sales tax (PST) arrears. · page: 46 · as of: NOI filing date (2025-02-26) · basis: Statement of Affairs (Form 78) as sworn/reported by debtor · amount: 28651 · debtor: Omni Equipment Group Inc. · creditor: Manitoba Finance - Taxation Division · currency: CAD
- unsecured creditorsnote: Trade accounts payable. · page: 46 · as of: NOI filing date (2025-02-26) · basis: Statement of Affairs (Form 78) as sworn/reported by debtor · amount: 7377.03 · debtor: Omni Equipment Group Inc. · creditor: Mosaic Logistics Inc. · currency: CAD
- unsecured creditorsnote: Provincial sales tax (PST) arrears. · page: 46 · as of: NOI filing date (2025-02-26) · basis: Statement of Affairs (Form 78) as sworn/reported by debtor · amount: 24153 · debtor: Omni Equipment Group Inc. · creditor: Ministry of Finance - PST - British Columbia · currency: CAD
- unsecured creditorsnote: Shopify Capital Agreement (finance company loan). · page: 47 · as of: NOI filing date (2025-02-26) · basis: Statement of Affairs (Form 78) as sworn/reported by debtor · amount: 138927 · debtor: Omni Equipment Group Inc. · creditor: Shopify Inc. · currency: CAD
- unsecured creditorsnote: Trade accounts payable. · page: 47 · as of: NOI filing date (2025-02-26) · basis: Statement of Affairs (Form 78) as sworn/reported by debtor · amount: 75122 · debtor: Omni Equipment Group Inc. · creditor: Sunniness Logistics Co., Ltd. · currency: CAD
- unsecured creditorsnote: Credit card balance. · page: 47 · as of: NOI filing date (2025-02-26) · basis: Statement of Affairs (Form 78) as sworn/reported by debtor · amount: 8778.66 · debtor: Omni Equipment Group Inc. · creditor: TD Canada Trust c/o FCT Default Solutions · currency: CAD