British Columbia · Receivership (court-appointed)
First Report of the Receiver (September 12, 2024)
Court officer report · 12 September 2024
A plain-language read of this filing opens with a subscription.
What we verified from this filing1 verified
- recovery outcomeentries: basis: estimated · quote: Based on the known secured and priority debt, it was determined that there would be little or no recovery for any unsecured or preferred creditors. · pct of: unstated · outcome: nil · class key: preferred · stated by: receiver · class label: unsecured or preferred creditors · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: It is expected that unsecured creditors will suffer a shortfall. · pct of: unstated · outcome: shortfall · class key: unsecured · stated by: receiver · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: The Receiver anticipates that there may still be a shortfall to the first secured creditor, RBC, in which case there will not be a recovery to any other creditors who rank behind RBC. · pct of: unstated · outcome: shortfall · class key: secured · stated by: receiver · class label: RBC (first secured creditor) · creditor name: RBC · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: The Receiver anticipates that there may still be a shortfall to the first secured creditor, RBC, in which case there will not be a recovery to any other creditors who rank behind RBC. · pct of: unstated · outcome: nil · stated by: receiver · class label: creditors who rank behind RBC · interim final: unstated · conditional on: there may still be a shortfall to RBC · claims qualifier: unstated; basis: estimated · quote: The Receiver requests the Court's approval for interim distribution to RBC in the amount up to $8,000,000. · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · amount low: 8000000 · amount high: 8000000 · class label: RBC · creditor name: RBC · interim final: interim · claims qualifier: unstated · stated on: 2024-09-12 · table missing: