British Columbia · Receivership (court-appointed)
Wildflower - First Report of the Receiver
Court officer report · 19 January 2024
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
- unsecured creditorsnote: stated as 'in excess of' USD $475,000, treated as floor; document names no individual creditors · page: 5 · basis: Receiver's understanding of WMI's accrued liabilities · amount: 475000 · debtor: WMI Consulting Ltd. · creditor: WMI Consulting Ltd. accrued liabilities (aggregate as reported) · currency: USD
- secured creditorsnote: Wildflower's senior secured creditor; petitioners in receivership proceedings · page: 6 · as of: commencement of the Receivership Proceedings · amount: 1836817 · debtor: Wildflower Brands Inc. · creditor: Vortep Kasi Holdings Inc. and Daniel Petrov · currency: CAD · security: Secured convertible debenture agreement dated July 31, 2020, initial principal balance $3,500,000
- unsecured creditorsnote: approximate figure; excludes unliquidated damages claims which could greatly increase City's total liabilities; document names no individual creditors (landlords of closed locations, construction lenders, government tax authorities mentioned generally) · page: 11 · basis: Receiver's First Report estimate of City's outstanding obligations · amount: 2700000 · debtor: City Cannabis Corp. · creditor: City Cannabis Corp. outstanding obligations (aggregate as reported) · currency: CAD
- unsecured creditorsnote: deemed trust class; approximate figure of $24,000; included as permitted encumbrance in Vortep Agreement · page: 13 · basis: Deemed Trust Claim for unpaid source deductions · amount: 24000 · debtor: Wildflower Brands Inc. · creditor: Canada Revenue Agency · currency: CAD