Ontario · NOI
Trustee Preliminary Report
Court officer report · 27 January 2026
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What we verified from this filing10 verified
- appointeeGlassRatner Restructuring Inc.
- appointee roleLicensed Trustee
- commencement date8 January 2026
- provinceONTARIO
- cash on handnote: Figure represents 'Cash in Financial Institutions' as listed among Realizable Assets in the Statement of Affairs, not a subsequent cash-on-hand report. · as at: 2026-01-08 · amount: 416616.23 · currency: CAD · qualifier: estimated realizable value per Statement of Affairs
- financial positionnote: Realizable asset values are estimates only; a value of $1.00 indicates the estimated realizable value is unknown or unattributed. Claims filed with the Trustee to date total $9,278,740.34 (Secured $2,206,374.77; Unsecured $7,072,365.57), higher than the Statement of Affairs figures. · as at: 2026-01-08 · basis: Estimated realizable value per the Company's Statement of Affairs, unaudited books and records provided by the Company · scope: entity-level – Greyter Water Systems Inc. (bankrupt estate) · currency: CAD · total assets: 601650.3 · total liabilities: 4664908.64
- operational summaryThe Company ceased operations following its assignment for the general benefit of creditors, having terminated approximately 21 employees prior to bankruptcy, and the Trustee is now securing and realizing on its remaining assets.
- recovery outcomeentries: basis: estimated · quote: Subject to the receipt of an independent legal opinion regarding the validity and enforceability of their security, it is anticipated that the Secured Creditors will suffer a shortfall. · pct of: unstated · outcome: shortfall · class key: secured · stated by: trustee · class label: Secured Creditors · interim final: unstated · conditional on: Subject to the receipt of an independent legal opinion regarding the validity and enforceability of their security · claims qualifier: unstated; basis: estimated · quote: Accordingly, no surplus funds are expected to be available for distribution to preferred or unsecured creditors. · pct of: unstated · outcome: nil · class key: preferred · stated by: trustee · class label: preferred or unsecured creditors · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: As the Secured Creditors are expected to incur a shortfall on their security, the Trustee does not anticipate that any funds will become available for distribution to unsecured creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: unsecured creditors · interim final: unstated · conditional on: this assessment will be confirmed upon completion of the realization of the Company's assets and the administration of the estate · claims qualifier: unstated · table missing:
- report date27 January 2026
- report noTrustee's Preliminary Report