Ontario · NOI

First Report of the Proposal Trustee dated May 15, 2025

Court officer report · 15 May 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 filing3 verified

financial positionnote: Total assets principally comprised of accounts receivable; total liabilities significantly exceed total assets; Trustee understands position has not materially changed as of report date · page: 6 · as at: 2024-12-31 · basis: unaudited, book value; information provided by Company's management · scope: entity - BookJane Inc. · currency: CAD · total assets: 888000 · total liabilities: 12473000
secured creditorsnote: Approximate figure stated by Trustee as of the Filing Date (April 23, 2025); described as senior secured lender · page: 7 · as of: 2025-04-23 · amount: 10900000 · debtor: BookJane Inc. · creditor: AYAL Capital Advisors Elite Fund LP, as collateral agent for the Consortium (AYAL, Amica Senior Lifestyles Trust, KB Capital Management Inc., Zahra Salibury and John MacDonald) · currency: CAD · security: General security interest in all of the Company's assets, granted pursuant to a Collateral Agency Agreement dated April 8, 2024, securing convertible promissory notes/debentures issued to Consortium members
secured creditorsnote: Regulatory/tax registration; amount approximate per PPSA search with currency date March 12, 2025 · page: 7 · as of: 2025-03-12 · amount: 400000 · debtor: BookJane Inc. · creditor: His Majesty in Right of Ontario, represented by the Minister of Finance · currency: CAD · security: PPSA (Ontario) registration against the Property for unpaid employer health taxes