Ontario · Bankruptcy
Section 245(1) and 246(1) Notice
Notice of receiver (s. 245 / Form 87) · 7 March 2013
What we verified from this filing8 verified
- secured creditorsnote: On July 3, 2012 HSBC received a partial repayment of its secured advances of $150,000 (before the receivership). · page: 1 · amount: 269162.36 · debtor: Ellen's Food Group Inc. · creditor: HSBC Bank Canada · currency: CAD · security: Identified among creditors who appear to hold a security interest on the property. “The validity and enforceability of the security held by these creditors has yet to be confirmed.”
- secured creditorsnote: Amount stated as “Unknown” — not a zero. · page: 1 · debtor: Ellen's Food Group Inc. · creditor: Mercedes Benz Financial · currency: CAD · security: Identified among creditors who appear to hold a security interest; validity yet to be confirmed.
- secured creditorsnote: Amount stated as “Unknown” — not a zero. · page: 1 · debtor: Ellen's Food Group Inc. · creditor: Redstone Investment Corporation · currency: CAD · security: Identified among creditors who appear to hold a security interest; validity yet to be confirmed.
- secured creditorsnote: Amount stated as “Unknown” — not a zero. Individual creditor. · page: 1 · debtor: Ellen's Food Group Inc. · creditor: Dr. Sai Kui Lee · currency: CAD · security: Identified among creditors who appear to hold a security interest; validity yet to be confirmed.
- financial positionnote: No balance sheet is stated. “According to the principal of the Company, there are no remaining assets other than a management contract with a related party.” The amount owed to unsecured creditors is stated as unknown, including amounts owed to related parties. Context stated by the Receiver: equipment at 30 Sims Crescent, Richmond Hill was sold to TFI Foods Ltd. for $954,000 plus HST ($1,078,020 total, received June–July 2012 and verified against bank statements); on June 22, 2012 $470,000 was transferred to a related company to repay operating debts; unsigned tax returns show net losses of $1,403,210 (FY2009), $908,341 (FY2010) and $1,063,078 (FY2011). The Receiver is investigating who received the TFI sale proceeds other than HSBC. · page: 2 · basis: Notice and Statement of Receiver (ss.245(1) & 246(1) BIA), Deloitte & Touche Inc., dated March 7, 2013. · scope: Ellen's Food Group Inc. (entity level) · currency: CAD
- unsecured creditorsnote: Crown claim (deemed-trust class where applicable). Amount stated as “Unknown” — not a zero. · page: 4 · basis: List of creditors to be notified of the receivership, attached to the Notice and Statement of Receiver (ss.245(1) & 246(1) BIA) of Deloitte & Touche Inc. — the list “include[s] the parties identified as secured creditors, and potential government creditors”, the amount owed to unsecured creditors being unknown. The list states a total of $269,162.36, which is HSBC's claim alone. · debtor: Ellen's Food Group Inc. · creditor: Canada Revenue Agency · currency: CAD
- unsecured creditorsnote: Amount stated as “Unknown” — not a zero. · page: 4 · basis: List of creditors to be notified of the receivership, attached to the Notice and Statement of Receiver (ss.245(1) & 246(1) BIA) of Deloitte & Touche Inc. — the list “include[s] the parties identified as secured creditors, and potential government creditors”, the amount owed to unsecured creditors being unknown. The list states a total of $269,162.36, which is HSBC's claim alone. · debtor: Ellen's Food Group Inc. · creditor: Bell Canada · currency: CAD
- unsecured creditorsnote: Provincial Crown claim. Amount stated as “Unknown” — not a zero. · page: 4 · basis: List of creditors to be notified of the receivership, attached to the Notice and Statement of Receiver (ss.245(1) & 246(1) BIA) of Deloitte & Touche Inc. — the list “include[s] the parties identified as secured creditors, and potential government creditors”, the amount owed to unsecured creditors being unknown. The list states a total of $269,162.36, which is HSBC's claim alone. · debtor: Ellen's Food Group Inc. · creditor: Ministry of Finance · currency: CAD