Ontario · Bankruptcy
Trustee’s Report to the First Meeting of Creditors on Preliminary Administration – dated September 18, 2024
Court officer report · 18 September 2024
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What we verified from this filing5 verified
- financial positionnote: Only an intercompany receivable from Meat & Co ("Meat & Co Receivable") with book value of approximately $1.6 million is described as an asset; no total liabilities figure stated; Trustee has not assessed recoverability · page: 2 · basis: book value per Statement of Affairs / Company's books and records · scope: TruHarvest Meats Inc. (entity level) · currency: CAD · total assets: 1600000
- secured creditorsnote: Related party (funded Company via equity); Statement of Affairs states claim of approximately $5.3 million as at Date of Bankruptcy; exact amount from filed Proof of Claim as recorded at time of report is $5,345,131.16 · page: 2 · as of: Date of Bankruptcy · amount: 5345131.16 · debtor: TruHarvest Meats Inc. · creditor: Eusi Farms Ltd. · currency: CAD · security: Security interest over all assets of the Company
- unsecured creditorsnote: Preferred claims (accelerated rent claims under leases); 2 preferred creditors totaling approximately $328,400; right to preference to be reviewed by Trustee · page: 2 · as of: Date of Bankruptcy · basis: Statement of Affairs as reported · amount: 328400 · debtor: TruHarvest Meats Inc. · creditor: Tri-Pet Holdings Ltd. and Gen Evo Investments Inc. · currency: CAD
- unsecured creditorsnote: Preferred claim for unpaid termination and vacation pay under s.81.3 BIA; Statement of Affairs indicated no s.81.3 amounts owed as at Date of Bankruptcy, but this claim was subsequently filed; right to preference to be reviewed · page: 2 · basis: Proof of claim filed · amount: 4758.75 · debtor: TruHarvest Meats Inc. · creditor: Former employee (unnamed) · currency: CAD
- unsecured creditorsnote: 30 unsecured creditors with claims totaling approximately $18 million per Statement of Affairs; document names no individual creditors; as at date of report, 5 unsecured proofs of claim had been filed totaling $12,442,742.26 (of which 3 proxies totaling $10,910,542.02 were in favor of Trustee) — this is the proofs-filed figure, distinct from the reported Statement of Affairs total · page: 2 · as of: Date of Bankruptcy · basis: Statement of Affairs as reported · amount: 18000000 · debtor: TruHarvest Meats Inc. · creditor: Unsecured creditors (aggregate as reported) · currency: CAD