BR Capital Inc. et al.
Follow- Proceeding
- Proposalsection 59 of the Bankruptcy and Insolvency Act
- File
- 2201-11627
BR Capital Inc. et al. have no secured lenders, according to the Proposal Trustee's summary of unsecured creditors known as of the July 31, 2022 notice of intention filing. That summary lists a Canada Revenue Agency deemed-trust claim for unpaid payroll source deductions of $179,000, trade creditors totalling $356,000, and a preferred claim of $80,000 owed to current and prior employees for unpaid wages, vacation, and severance. The largest exposure is to noteholders under the BR Notes, owed $9,713,000 in principal and accrued interest against an original aggregate principal of approximately $6.9 million issued to roughly 40 noteholders. A related-party claim for deferred management compensation owed to the Companies' CEO and CFO totals $1,662,000. No consolidated balance sheet is presented in the record.
The officer filed a report. BR Capital LP's proposal, arising from COVID-19-related contract cancellations and overleverage, would issue units to creditors in exchange for extinguishing unsecured claims, allowing the company to continue operating with potential future distributions; if rejected, the group would become bankrupt with no anticipated recovery for creditors.
Source: Court Filed March 3, 2023 - Form 40 Report of Trustee on Proposal
Application - Procedural Consolidation, BIA Charges, Stay Extension — Application / notice of application
Certificate for the Notice of Intention - First Response International Inc. — NOI certificate of filing
Certificate for the Notice of Intention - Ice Health Systems GP LP — NOI certificate of filing
Certificate for the Notice of Intention - SESCI Health Services Inc. — NOI certificate of filing
Certificate for the Notice of Intention- First Response International GP LP — NOI certificate of filing
Certificate for the Notice of Intention - First Reponse International LP — NOI certificate of filing
Certificate for the Notice of Intention - ICE Health Systems Inc. — NOI certificate of filing
Debtor
BR Capital Inc. et al.
Proposal trustee
KPMG
| # | Priority class | Creditor | Amount | Source |
|---|---|---|---|---|
| 6 | Landlord preferred | Current and prior employeesPreferred claim class under BIA - unpaid wages, vacation, and severance amounts — debtor: BR Capital Group companies · as of 31 Jul 2022 | $80K | First Report of the Proposal Trustee |
| 8 | Unsecured | Noteholders (BR Notes) · in 5 casesPrincipal and interest due to noteholders as at July 31, 2022; original aggregate principal amount of the unsecured promissory notes issued to approx. 40 noteholders was approx. $6.9 million (page 4/original p.4); table figure is exact dated balance including accrued interest — debtor: BR Capital LP · as of 31 Jul 2022 | $9.71M | First Report of the Proposal Trustee |
| 8 | Unsecured | Deferred management compensation (CEO and CFO)Related party: deferred compensation owed to Companies' CEO and CFO — debtor: BR Capital Group companies · as of 31 Jul 2022 | $1.66M | First Report of the Proposal Trustee |
| 8 | Unsecured | Trade creditors · in 11 casesDocument names no individual trade creditors, aggregate trade creditor figure only — debtor: BR Capital Group companies · as of 31 Jul 2022 | $356K | First Report of the Proposal Trustee |
| 8 | Unsecured | Canada Revenue Agency · in 926 casesDeemed trust class - unpaid payroll source deductions — debtor: BR Capital Group companies · as of 31 Jul 2022 | $179K | First Report of the Proposal Trustee |
Preferred creditors: paid in full.Under the plan · sanctionedApproval Order filed March 6, 2023 · 3 Mar 2023
| Class | Creditor | Claims | Recovery | Basis | Source |
|---|---|---|---|---|---|
| Preferred | Priority Governmental Claims, Priority Employee Claims and Preferred Claims | — | paid in full | Under the plansanctionedper the proposal trustee | Approval Order filed March 6, 2023 · 3 Mar 2023 |
Each row is one filing's statement, copied as it reads and never computed. "Estimated" is the officer's forecast; "Under the plan" is the plan's or proposal's own term; "Final" is a declared or paid distribution; a row with no chip states no footing. A range is the two numbers stated; "of proven claims" is the document's own denominator.
Cash on hand
$25K
As at 3 Mar 2023Court Filed March 3, 2023 - Form 40 Report of Trustee on Proposal
| Date | Document | File |
|---|---|---|
| Trustee's Certificate - 1 filed Oct 30, 2023 | ||
| Trustee's Certificate - 2 filed Oct 30, 2023 | ||
| Trustee's Certificate - 3 filed Oct 30, 2023 | ||
Approval Order filed March 6, 2023
| ||
Court Filed March 6, 2023 - Order (Approval of Proposal)
| ||
Court Filed March 3, 2023 - Form 40 Report of Trustee on Proposal
| ||
Order (Approval of Proposal)
| ||
| Fourth Report of the Proposal Trustee | ||
Joint Application for Approval of the Proposal
| ||
| Affidavit in Support of Application for the Approval of the Proposal part 1 | ||
| Report of Trustee on Proposal | ||
| Third Report of the Proposal Trustee | ||
| Creditors Package | ||
| Certificate of filing - BR Capital LP | ||
| Certificate of filing - First Response International GP LP | ||
| Certificate of filing - First Response International Inc. | ||
| Certificate of filing - First Response International LP | ||
| Certificate of filing - HELP Inc. | ||
| Certificate of filing - Health Education GP LP | ||
| Certificate of filing - Health Education LP | ||
| Certificate of filing - ICE Health Systems GP LP | ||
| Certificate of filing - ICE Health Systems Inc. | ||
| Certificate of filing - ICE Health Systems LP | ||
| Certificate of filing - ICE Health Systems Ltd. | ||
| Certificate of filing - SESCI Health Services Inc. | ||
| Brief of Argument of the Proposal Trustee (Approval of Proposal) | ||
Extension Order 2022-12-01
| ||
| Affidavit of J. Lawson | ||
Application
| ||
| Second Report of the Proposal Trustee | ||
Signed Order 2022-10-25
| ||
| Application - Procedural Consolidation, BIA Charges, Stay Extension | ||
| Bench Brief of the Applicants - BR Capital Group | ||
First Report of the Proposal Trustee
| ||
| Supplemental Affidavit M. Genius | ||
| Affidavit M.Genius part 1 | ||
| Affidavit M.Genius part 2 | ||
| Affidavit M.Genius part 3 | ||
| Affidavit M.Genius part 4 | ||
| Affidavit M.Genius part 5 | ||
| Affidavit M.Genius part 6 | ||
| Affidavit M.Genius part 7 | ||
| Notice of Intention - First Response International GP LP | ||
| Notice of Intention - First Response International Inc. | ||
| Notice of Intention - First Response International LP | ||
| Notice of Intention - Health Education LP | ||
| Notice of Intention - ICE Health Systems GP LP | ||
| Notice of Intention - ICE Health Systems Ltd | ||
| Notice of Intention - SESCI Health Services Inc. | ||
| Certificate for the Notice of Intention - BR Capital Inc. | ||
| Certificate for the Notice of Intention - First Response International Inc. | ||
| Certificate for the Notice of Intention - ICE Health Systems LP | ||
| Certificate for the Notice of Intention - ICE Health Systems Ltd | ||
| Certificate for the Notice of Intention - Ice Health Systems GP LP | ||
| Certificate for the Notice of Intention - SESCI Health Services Inc. | ||
| Certificate for the Notice of Intention- First Response International GP LP | ||
| Certificate for the Notice of Intention - BR capital LP | ||
| Certificate for the Notice of Intention - First Reponse International LP | ||
| Certificate for the Notice of Intention - HELP Inc. | ||
| Certificate for the Notice of Intention - Health Education GP LP | ||
| Certificate for the Notice of Intention - ICE Health Systems Inc. | ||
| Certificate of filing - BR Capital Inc. | ||
Proposal
| ||
| Affidavit in Support of Application for the Approval of the Proposal part 2 | ||
| Brief - Acceptance of Proposal | ||
Filing titles, dates, and extracted key facts are public.
CiteProceedings., “BR Capital Inc. et al.” (Proposal), Court of King's Bench of Alberta. Retrieved 20 September 2026, https://proceedings.ca/case/br-capital-inc-et-al