Saskatchewan · NOI
Notice to Creditors - May 1, 2026
Notice to creditors · 1 May 2026
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 filing2 verified
- financial positionnote: Trustee Report states total book value of assets $8,710,318 as at April 22, 2026 (components: buildings $2,275,144; land $1,991,482; machinery & equipment $1,390,362; inventory $1,332,575; AR $1,313,057; advances to related parties $205,222; fences $130,180; office equipment $70,959). Liabilities per SOA/documents listed as total $3,874,425 as at March 23, 2026 (table total), though Trustee's Report also states unsecured claims approx. $3,331,224. Condensed Form 78 Statement of Affairs (estimated realizable) shows total assets $406,228.67 and total liabilities $4,263,354.03 (secured $406,228.67; unsecured $3,857,125.36; deficiency -$3,857,125.36). Creditor list total is $4,263,353.03. Asset and liability figures carry different as-at dates (April 22 vs March 23, 2026). Trustee estimates bankruptcy realizations of approx. $226,000 (low) to $478,000 (high); Trustee notes the books are incomplete and book values may be materially inaccurate. · basis: Unaudited internal financial information; Company's books incomplete (2024, 2025 and 2026 YTD financials not finalized), so book values may contain material inaccuracies. Statement of Affairs (Form 78) figures are debtor's own estimates as at April 22, 2026 (filing of proposal). · scope: Under the Sun Groweries Inc. (single entity) · currency: CAD
- recovery outcomeentries: basis: plan · quote: the Proposal Fund provides for a dividend estimated to be approximately 3.95% to Unsecured Creditors and up to 100% to Convenience Class Creditors · pct of: unstated · outcome: distribution · pct low: 3.95 · pct high: 3.95 · class key: unsecured · stated by: proposal_trustee · amount low: 200000 · amount high: 200000 · class label: Unsecured Creditors · interim final: unstated · conditional on: if the Proposal is accepted by the Unsecured Creditors · claims qualifier: unstated; basis: plan · quote: Based on the Company's records as at Initial Filing Date, the projected distribution to Pro Rata Creditors is expected to be approximately 3.95% of their claim. · pct of: unstated · outcome: distribution · pct low: 3.95 · pct high: 3.95 · class key: unsecured · stated by: proposal_trustee · class label: Pro Rata Creditors · claims amount: 3331224 · interim final: unstated · conditional on: subject to the claim review process and any variation between actual and projected Convenience Creditor elections · claims qualifier: estimated; basis: plan · quote: Convenience Creditors will receive the first $1,500 of their proven claim from the Proposal Proceeds in full settlement of their claim. · pct of: unstated · outcome: distribution · pct low: 100 · pct high: 100 · class key: unsecured · stated by: proposal_trustee · amount high: 1500 · class label: Convenience Class Creditors · interim final: unstated · conditional on: 100% of the first $1,500 of each Unsecured Claim · claims qualifier: unstated · stated on: 2026-05-01 · table missing: