Ontario · NOI
First Report of the Proposal Trustee (for motion returnable April 9, 2025)
Court officer report · 4 April 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 filing4 verified
- financial positionnote: United Edge (12574764 Canada Ltd.) is reported separately with its own unaudited balance sheet as at December 31, 2024 (per table on page 7): total assets ~$4,331,000 and total liabilities ~$2,394,000 (book value). The narrative text on page 8 erroneously references 'September 30, 2024' for United Edge's balance sheet date, but the balance sheet table itself (page 7) is headed 'As At December 31, 2024'; figures are not summed with P3 Panels per reporting convention. · page: 7 · as at: 2024-10-31 · basis: internally prepared, unaudited (book value) · scope: 11449346 Canada Inc. o/a P3 Panel Company (entity only; not consolidated with United Edge) · currency: CAD · total assets: 7558000 · total liabilities: 10270000
- secured creditorsnote: Deemed trust claim (HST collected but not remitted). Trustee's report states the Companies understood P3 Panels owed approximately $250,000 to CRA for HST as of February 25, 2025 (see page 9); exact figure taken from creditor list (Account #789682077RT0001). · page: 26 · as of: NOI filing date · amount: 250677.12 · debtor: 11449346 Canada Inc. o/a P3 Panel Company · creditor: Canada Revenue Agency · currency: CAD
- secured creditorsnote: Deemed trust claim (unpaid payroll source deductions). Trustee's report states approximately $410,000 owed as of February 25, 2025 (see page 9); exact figure taken from creditor list (Account #789682077RP0001, National Verification and Collection Centre). · page: 26 · as of: NOI filing date · amount: 408934.95 · debtor: 11449346 Canada Inc. o/a P3 Panel Company · creditor: CRA - Tax - Ontario · currency: CAD
- secured creditorsnote: Deemed trust claim (HST collected but not remitted). Trustee's report states approximately $48,000 owed, and notes United Edge is entitled to a tax credit of approximately $68,000 on account of a prior overpayment; United Edge has no liability for unpaid payroll source deductions (see page 9). Exact figure taken from creditor list (Account #706560901RT0001). · page: 33 · as of: NOI filing date · amount: 48120.99 · debtor: 12574764 Canada Ltd. o/a United Edge Structural Components · creditor: Canada Revenue Agency · currency: CAD