Ontario · Bankruptcy
Report of the Trustee's Preliminary Administration, dated February 2, 2023
Court officer report · 2 February 2023
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What we verified from this filing5 verified
- cash on handnote: Reflected as Cash on the Statement of Affairs sworn January 17, 2023. · as at: 2023-01-17 · amount: 2718233 · currency: CAD
- financial positionnote: Assets stated as Net Book Value and Realizable Value (Low/High Scenario), not a single total: Cash $2,718,233; Trade Accounts Receivable NBV $5,843,435 (realizable $2,800,000-$3,800,000); Interco Accounts Receivable NBV $22,986,648 (realizable TBD); Inventory NBV $862,000 (realizable $0-$400,000); Total Assets (estimated realizable value) $5,518,233 (low) / $6,918,233 (high). Liabilities: Secured Creditors (approx.) $169,593,677; Unsecured Creditors $18,295,565; Total Liabilities $187,889,242. · as at: 2023-01-17 · basis: Statement of Affairs sworn on January 17, 2023 · scope: entity - Lakeside Produce Inc. · currency: CAD · total liabilities: 187889242
- operational summaryLakeside's operations ceased prior to the bankruptcy filing, with employees terminated and business wound down in an orderly manner; the Trustee is now realizing on assets such as receivables and inventory.
- recovery outcomeentries: basis: estimated · quote: Given the information available to the Trustee in respect of the estimated realization value of the assets and the amount owed to the secured creditors, the Trustee anticipates that there will not be any funds available for distribution to unsecured creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated · stated on: 2023-02-02 · table missing:
- report date2 February 2023