Ontario · Bankruptcy
First Report of Proposal Trustee dated December 18, 2009
Court officer report · 18 December 2009
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: Components only, not summed: Capital Assets (including land and buildings) $1,100,000 (cost value $2,200,000); Inventory $1,700,000; Investment in GROWMARK $375,000; Receivables $360,000; Investment in Tru*Serv $2,000; Interest in Madoc/UPI Energy LP Fuel Joint Venture $200,000. Net operating loss of $800,000 in 2009 and $250,000 in 2008. · as at: 2009-08-31 · basis: draft audited financial statements (book value); market value of land/building may differ, current appraisals not yet commissioned · scope: entity - Madoc Co-Operative Association · currency: CAD
- operational summaryMadoc is conducting a liquidation sale of inventory, collecting receivables in the ordinary course, and has terminated all employees while retaining minimal staff to maintain operations, pending a going-concern sale of its assets and business.
- report date18 December 2009
- report noFirst Report