Ontario · Bankruptcy
Trustee’s Report to Creditors on Preliminary Administration
Court officer report · 31 July 2024
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What we verified from this filing9 verified
- commencement date11 July 2024
- court file no31-3102888
- provinceOntario
- appointeeAlbert Gelman Inc.
- appointee roleLicensed Insolvency Trustee
- statutory basisBankruptcy and Insolvency Act (Canada)
- financial positionnote: Total liabilities not stated as an aggregate figure in the document. SOA indicates no secured obligations or other potential priority claims (page 3), no known preferred creditors (page 4), and unsecured creditors totalling approximately $2.1 million (page 4). · page: 3 · as at: 2024-07-11 · basis: SOA book value (unaudited); estimated realizable value of $139,161 also stated (Cash $139,161 realizable; Intercompany receivable $445,784 book/$0 realizable - no realizable value per SOA; Prepaid expenses $20,336 book/$0 realizable - no realizable value per SOA) · scope: Casa Systems Canada Ltd. (entity-level, non-consolidated) · currency: CAD · total assets: 605281
- unsecured creditorsnote: Document states this is 'approximately $2.1 million'; no exact aggregate figure given. Named claimants include: (i) the Parent, Casa Systems, Inc. (related party), (ii) Canada Revenue Agency (deemed trust class), and (iii) ten former employees re: termination/severance pay - no individual amounts stated for any of these. Preferred creditors: SOA states none known (page 4). Separately, as at the report date the Trustee had recorded 3 unsecured proofs of claim filed totalling $311,512.17 (page 4) - this is the proofs-filed figure, distinct from the SOA-reported aggregate. · page: 4 · as of: SOA sworn July 10, 2024 (as at Date of Bankruptcy) · basis: Statement of Affairs as reported (approximate figure stated by the Company) · amount: 2100000 · debtor: Casa Systems Canada Ltd. · creditor: Unsecured creditors (aggregate as reported) · currency: CAD
- secured creditors