New Brunswick · NOI
First Report of Trustee.pdf
Court officer report · 12 December 2022
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: Report gives separate asset/liability summaries per company, not a combined total. 512597 NB Ltd.: Total Assets low estimate $1,335,000 / high estimate $2,645,000; Total Liabilities low $1,499,000 / high $1,499,000; Surplus (Deficiency) low ($164,000) / high $1,146,000. Classic Asphalt Ltd.: secured creditors CRA $1,105,000, BMO $2,361,000, BDC $1,217,000, plus unsecured creditors $797,000; equipment appraised net value between $3,864,000 and $4,135,000 (April 2022 appraisal, prior to subsequent equipment sales). · basis: unaudited management estimates / appraisals · scope: entity-level, reported separately for Classic Asphalt Ltd. and 512597 NB Ltd. · currency: CAD
- operational summaryThe Companies continue to operate in the normal course under the Trustee's oversight, completing existing contracts and pursuing new work, while laying off seasonal employees and assessing which equipment and real estate assets to sell as part of a planned downsizing and restructuring.
- report date12 December 2022
- report noFirst Report