British Columbia · Receivership (court-appointed)
Preliminary Report of the Trustee
Court officer report · 26 April 2018
A plain-language read of this filing opens with a subscription.
What we verified from this filing5 verified
- closing confirmedscope: substantially all of its assets · outcome: completed · effective: 2018-03-01 · purchaser: Mercury Plastics of Canada Inc. · date basis: stated · approval order date: 2018-02-21
- purchaserMercury Plastics of Canada Inc.
- recovery outcomeentries: basis: estimated · quote: Given the significant shortfall to the Secured Creditors, estimated at approximately $32 million, the Trustee does not expect that there will be any distribution from the Western Concord estates for unsecured creditors. · pct of: unstated · outcome: shortfall · class key: secured · stated by: trustee · class label: Secured Creditors · interim final: unstated · claims qualifier: unstated · shortfall amount: 32000000; basis: estimated · quote: Given the significant shortfall to the Secured Creditors, estimated at approximately $32 million, the Trustee does not expect that there will be any distribution from the Western Concord estates for 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: 2018-04-26 · table missing:
- sale advisorErnst & Young Orenda Corporate Finance (Canada) Inc.
- sale outcometext: Sale of substantially all of Western Concord's assets to Mercury Plastics of Canada Inc. closed March 1, 2018 · scope: whole_business · status: closed