Ontario · NOI
Trustee's Report to the First Meeting of Creditors on Preliminary Administration
Court officer report · 2 May 2019
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What we verified from this filing6 verified
- cash on handnote: Amount of Company's cash left by Gymboree Group to form part of the estate's property rather than reduce the Post-Filing Intercompany Debt; excludes Designated Deposit Accounts which are Agent's collateral. · amount: 142372.92 · currency: CAD
- financial positionnote: No total stated; components only: cash of $142,372.92 left to form part of estate property; no known secured creditors as at date of bankruptcy; no known preferred creditors as at date of bankruptcy; 92 unsecured creditors with claims totaling approximately $9.5 million (95% i.e. $8.9 million owed to Gymboree Group), excluding unresolved landlord and employee claims; potential recovery of portion of $2.0 million letter of credit contribution uncertain. · basis: Statement of Affairs (management estimate) · scope: 616900 N.B. Inc. (single entity, bankrupt estate) · currency: CAD
- operational summary616900 completed an orderly liquidation of all Gymboree®-branded stores under the Agency Agreement and disclaimed all store leases; it has no ongoing retail operations, and the Trustee's activities have focused on taking control of estate cash and statutory administration of the bankruptcy.
- professional feesnote: Approximately $140,000 remains unpaid; Gymboree Group expected to pay on Company's behalf as part of Post-Filing Intercompany Arrangements. · party: NOI Professional Fees (Proposal Trustee's counsel Osler, Hoskin & Harcourt LLP and Company's counsel Norton Rose Fulbright Canada LLP) · amount: 140000 · period: NOI proceedings · currency: CAD
- report date2 May 2019
- report noTrustee's Report to the First Meeting of Creditors on Preliminary Administration