Alberta · Receivership (court-appointed)
First Report of the Receiver
Court officer report · 21 November 2022
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What we verified from this filing18 verified
- applicantROYAL BANK OF CANADA
- courtCOURT OF KING'S BENCH OF ALBERTA
- court file no2201-09262
- appointeeA. Farber & Partners Inc.
- appointee rolereceiver without security
- commencement date2 September 2022
- secured creditorsnote: Amount of RBC's secured claim not stated in these pages; Receiver reviewed RBC security documentation to confirm coverage of assets at Leased Premise · page: 9 · debtor: Canadian Beaver Brewing and Distillery Company Ltd. · creditor: Royal Bank of Canada · currency: CAD · security: General security over assets, undertakings and property of the Debtor; applicant in receivership proceedings
- unsecured creditorsnote: Paid by Receiver post-appointment to secure release of centrifuge asset; approximate figure · page: 10 · as of: pre-receivership (prior to September 2, 2022) · basis: Reported by Receiver as approximate repair bill owed prior to appointment · amount: 4300 · debtor: Canadian Beaver Brewing and Distillery Company Ltd. · creditor: Allied Centrifuge · currency: CAD
- unsecured creditorsnote: Stated as a ceiling/estimate ('could be as high as'); Receiver has not confirmed accuracy pending general ledger review; CRA trust exam outstanding; deemed trust class · page: 15 · basis: Receiver's estimate based on notices of assessment in its possession · amount: 110700 · debtor: Canadian Beaver Brewing and Distillery Company Ltd. · creditor: Canada Revenue Agency (unremitted GST) · currency: CAD
- unsecured creditorsnote: Deemed trust class per document; approximate figure · page: 15 · basis: Receiver's estimate based on payroll records for 2021 and 2022 · amount: 8038 · debtor: Canadian Beaver Brewing and Distillery Company Ltd. · creditor: Canada Revenue Agency (unremitted source deductions - employee/deemed trust portion) · currency: CAD
- unsecured creditorsnote: Deemed trust class; total unremitted source deductions estimated at approximately $11,500, of which employee (deemed trust) portion is $8,038; this figure represents the remainder; approximate · page: 15 · basis: Receiver's estimate based on payroll records for 2021 and 2022 · amount: 3462 · debtor: Canadian Beaver Brewing and Distillery Company Ltd. · creditor: Canada Revenue Agency (unremitted source deductions - employer portion) · currency: CAD
- unsecured creditorsnote: Preferred/priority claim relating to unpaid wages; approximate figure; limited recoveries from current assets to which claim has priority · page: 15 · basis: Receiver's estimated total priority claim submitted pursuant to WEPP · amount: 16600 · debtor: Canadian Beaver Brewing and Distillery Company Ltd. · creditor: Service Canada (Wage Earner Protection Program) · currency: CAD
- unsecured creditorsnote: Preferred claim - unpaid wages of 10 employees at date of appointment; approximate figure · page: 15 · as of: date of Receiver's appointment (September 2, 2022) · basis: Receiver's estimate based on payroll records · amount: 33400 · debtor: Canadian Beaver Brewing and Distillery Company Ltd. · creditor: Employees (unpaid wages) · currency: CAD
- secured creditorsnote: Serialized equipment financier; amount not stated · page: 22 · debtor: Canadian Beaver Brewing and Distillery Company Ltd. · creditor: Toyota Finance · currency: CAD · security: PMSI - encumbered propane powered fork lift (Toyota 8FGCU30)
- fee scheduleengagements: form: time_summary · rows: L. Hylton; D. Church; J. Sacoransky; E. Merrick; L. Samoilov; L. Lloyd-Key; fees: 40891 · hours: 96.4 · quote: Total | 96.40 | | $40,891.00 · row kind: subtotal · rate kind: standard · name as stated: Total · money: tax: label: GST · quote: GST in the aggregate amount of $2,045 · amount: 2045 · fees: quote: including fees and disbursements in the amount of $41,791 · amount: 41791 · total: quote: The total fees and disbursements of the Receiver for the period from August 10, 2022, to October 31, 2022, total $43,836 · amount: 43836 · includes tax: true · includes disbursements: true · approximate: false · period: end: 2022-10-31 · kind: interim · label: Fee Period · quote: the professional fees and disbursements of the Receiver for the period from August 10, 2022, to October 31, 2022 (the ' Fee Period ') · start: 2022-08-10 · approval: quote: This Affidavit is made in support of a motion for, among other things, the approval of the professional fees and disbursements of the Receiver · state: sought · averages: · currency: · invoices: tax: 2044.55 · date: 2022-11-21 · fees: 40891 · quote: A. Farber & Partners Inc. | 20247 | 21-Nov-22 | 10.Aug.2022 to 31.Oct.2022 | 40,891.00 | 899.75 | 2,044.55 | 43,835.30 · total: 43835.3 · period end: 2022-10-31 · period start: 2022-08-10 · disbursements: 899.75 · firm text: A. Farber & Partners Inc. · firm quote: A. Farber & Partners Inc. · hours total: quote: Total | 96.40 | · value: 96.4 · context quote: the approval of the professional fees and disbursements of the Receiver for the period from August 10, 2022, to October 31, 2022 (the ' Fee Period '); form: invoice_listing · rows: · money: tax: label: GST · quote: GST in the aggregate amount of $1,102 · amount: 1102 · fees: quote: including fees and disbursements in the amount of $9,549 · amount: 9549 · total: quote: total $10,651, including fees and disbursements in the amount of $9,549, and GST in the aggregate amount of $1,102 · amount: 10651 · includes tax: true · includes disbursements: true · approximate: false · period: end: 2022-10-31 · kind: interim · label: Fee Period · quote: The total fees and disbursements of the Receiver's counsel MLT Aikins LLP for the period from August 10, 2022, to October 31, 2022, total $10,651 · start: 2022-08-10 · approval: quote: This Affidavit is made in support of a motion for, among other things, the approval of the professional fees and disbursements of the Receiver · state: sought · averages: · currency: · invoices: tax: 946.07 · date: 2022-10-31 · fees: 7621 · quote: MLT AIKINS LLP | 6323846 | 31-Oct-22 | 10.Aug.2022 to 30.Sep.2022 | 7,621.00 | 631.07 | 946.07 | 9,198.14 · total: 9198.14 · period end: 2022-09-30 · period start: 2022-08-10 · disbursements: 631.07; tax: 155.64 · date: 2022-11-21 · fees: 1297 · quote: MLT AIKINS LLP | 6328640 | 21-Nov-22 | 01.Oct.2022 to 31.Oct.2022 | 1,297.00 | - | 155.64 | 1,452.64 · total: 1452.64 · period end: 2022-10-31 · period start: 2022-10-01 · firm text: MLT AIKINS LLP · firm quote: MLT AIKINS LLP · context quote: The total fees and disbursements of the Receiver's counsel MLT Aikins LLP for the period from August 10, 2022, to October 31, 2022, total $10,651; form: time_summary · rows: Jordan S. Eeles; Christopher Nyberg; Ryan Zahara · money: fees: quote: 7,621.00 · amount: 7621 · approximate: false · period: end: 2022-09-30 · kind: invoice · quote: TO PROFESSIONAL SERVICES RENDERED TO AND INCLUDING 09/30/22 AS FOLLOWS · approval: state: unstated · averages: · currency: · invoices: · firm text: MLT AIKINS LLP · firm quote: MLT AIKINS LLP · hours total: quote: 17.20 | | 7,621.00 · value: 17.2 · context quote: Attached hereto and marked as Exhibit 'C' to this Affidavit is a true copy of the Receiver's counsel accounts for the Fee Period.; form: time_summary · rows: Jordan S. Eeles; Ryan Zahara · money: fees: quote: 1,297.00 · amount: 1297 · total: quote: Total Disbursements Subtotal | Page: 2 November 21, 2022 Invoice #6328640 90.79 0.00 1,452.64 · amount: 1452.64 · approximate: false · period: end: 2022-10-31 · kind: invoice · quote: November 21, 2022 Invoice #6328640 · start: 2022-10-01 · approval: state: unstated · averages: · currency: · invoices: · firm text: MLT AIKINS LLP · firm quote: MLT AIKINS LLP · hours total: quote: 2.50 | | 1,297.00 · value: 2.5 · context quote: Attached hereto and marked as Exhibit 'C' to this Affidavit is a true copy of the Receiver's counsel accounts for the Fee Period.
- process resultsbids: 7 · ndas: 21 · note: 60 Strategic Bidders and 12 liquidators/auctioneers solicited; 21 Qualified Bidders returned NDAs (11 strategic, 10 liquidators); 7 offers submitted by Bid Deadline (1 en bloc from Strategic Bidder, 6 from liquidators) · as of: 2022-11-21 · solicited: 72 · qualified bids: 21
- purchaserprice: note: Deposit was 20% of gross purchase price; amount not disclosed in unsealed text · basis: cash · sealed: true · currency: CAD · scope: all the assets on as is-where is basis · status: approved · name note: unnamed Strategic Bidder, en bloc offer recommended for acceptance (Offer 1) · structure: assets · name source: recital · relationship: unstated
- sale outcometext: The Receiver recommends approval of Offer 1, the winning en bloc bid, and requests issuance of the sale approval and vesting order. · scope: whole_business · status: pending_approval