Quebec · Bankruptcy
Trustee’s Report Relating to the Affairs of 177841 Canada Inc. – dated December 2, 2005
Court officer report · 2 December 2005
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 filing12 verified · 1 withheld
- appointeeRSM Richter Inc.
- appointee roleTrustee
- commencement date4 February 2004
- court file no460-11-000938-046
- provinceQUÉBEC
- cash on handnote: Funds on hand, end of period (period ended December 1, 2005), held in the RSM Richter Inc. trust account. · as at: 2005-12-01 · amount: 581840 · currency: CAD
- disbursementsnote: Total disbursements before remittances to secured lender; remittances to BMO Bank of Montreal of C$9,304,232 are additional. · since: commencement of Interim Receiver/Trustee mandate (combined statement, period ended December 1, 2005) · amount: 2464346 · currency: CAD
- financial positionnote: Liabilities stated "as at the date of bankruptcy" (December 1, 2005, the date the Proposal was rejected); as_at date left null as the exact date is not given in the table. Pre-Feb 4, 2004: C$4,262,824; Post-Feb 4, 2004: C$312,885. Related party liabilities C$2,514,700 (no supporting documentation received from J.L. de Ball America Inc. and/or Girmes GmbH for any amounts that may be owed). No total assets figure stated; estimated realization of remaining assets (before professional fees) is C$656,840 low to C$739,840 high, including cash on hand of C$581,840. BMO bank indebtedness repaid in its entirety effective March 10, 2005. · basis: Trustee summary of liabilities "Based on the information submitted to the Trustee"; amounts are claims per proofs of claim filed, with related-party claims unsupported by documentation. · scope: 177841 Canada Inc. (formerly J.L. de Ball Canada Inc.), the bankrupt, single entity · currency: CAD · total liabilities: 4575709
- operational summaryThe company's operating assets were sold in November 2004 and its Proposal was rejected on December 1, 2005, resulting in bankruptcy; only residual receivables and tax refunds remain to be realized before a distribution to creditors.
- professional feesnote: Trustee's and Interim Receiver's remuneration per the combined statement of receipts and disbursements; legal fees and costs separately C$367,429. Tax treatment not stated. · party: Trustee and Interim Receiver (RSM Richter Inc.) · amount: 424792 · period: up to December 1, 2005 (combined Interim Receiver and Trustee period) · currency: CAD
- receipts cumulativenote: Total receipts, including sale of assets of C$8,046,540, collection of accounts receivable C$3,203,853, income tax refund C$444,291, GST and QST refund C$620,149, other C$35,585. · since: commencement of Interim Receiver/Trustee mandate (combined statement, period ended December 1, 2005) · amount: 12350417 · currency: CAD
- report date2 December 2005
1 extracted value is withheld: either a trap-shaped field where models produce confident wrong numbers, or an identity value whose quotation could not be found in the document. Withheld values are shown to no one.