Ontario · Bankruptcy
Trustee's Preliminary Report - GL & RM Inc.
Court officer report · 9 October 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 filing6 verified
- cash on handnote: Stated as at the Date of Bankruptcy, as described in the Statement of Affairs. · as at: 2025-09-26 · amount: 137371 · currency: CAD
- financial positionnote: Assets consist solely of cash on hand ($137,371); the report states GLRM does not have any assets except cash. Liabilities per SOA: Secured $11,000,000; Unsecured $539,105; Preferred Nil; Total $11,539,105. Claims filed as of October 9, 2025: Nil. Total liabilities figure is the SOA total stated in Appendix A. · as at: 2025-09-26 · basis: Per Statement of Affairs dated September 26, 2025, prepared from available books and records of the Company and discussions with Management; not reviewed or audited by the Trustee, which expresses no opinion on their validity, exactness or reliability. · scope: GL & RM Inc. (GLRM) bankruptcy estate only · currency: CAD · total assets: 137371 · total liabilities: 11539105
- operational summaryGLRM was a real property owner whose related companies operated a distribution and logistics business; it has no assets other than cash, its books and records were not properly maintained, and the Trustee anticipates no recovery for unsecured creditors.
- recovery outcomeentries: basis: estimated · quote: The Trustee does not foresee any recovery for the unsecured creditors, as there are no assets available to realize in GLRM. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated · stated on: 2025-10-09 · table missing:
- report date9 October 2025
- report noPreliminary Report