Ontario · Receivership (court-appointed)

Notice of Bankruptcy and First Meeting of Creditors - Beach Arms

Notice to creditors · 21 March 2011

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 filing1 verified

financial positionnote: As-at date is the date of bankruptcy: form states the state of affairs "on the 11th day of March 2011" (the proof of claim form gives the bankruptcy date as March 15, 2011; list footers and the oath are dated 14-Mar-2011), so the as-at date is left null rather than choosing among inconsistent dates. Stated deficiency 1,250,083.90 (surplus NIL). Largest asset is real property at 8,000,000.00; vehicles 22,000.00; remaining items nominal ($1) values. Liabilities: unsecured 1,250,082.90 + secured value of security 8,022,004.00 + preferred 1.00 + contingent 0.00. · basis: Form 78 Statement of Affairs (business bankruptcy), "as stated and estimated by the officer" — management estimates, sworn/declared by an officer of the bankrupt corporation · scope: 912087 Ontario Limited o/a Beach Arms Retirement Residence (single entity) · currency: CAD · total assets: 8022004 · total liabilities: 9272087.9