Alberta · Receivership (court-appointed)
Redacted Second Report of the Receiver
Court officer report · 13 March 2015
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What we verified from this filing11 verified
- courtCOURT OF QUEEN'S BENCH OF ALBERTA
- court file no1503-00755
- appointeePricewaterhouseCoopers Inc.
- appointee roleReceiver
- commencement date8 October 2014
- disbursementsnote: Cumulative disbursements for RTF for the period October 8, 2014 to February 20, 2015; majority represent operating costs and Receiver's fees. A separate figure of €184,654 is reported for the Nordic Subs for the period November 6, 2014 to February 20, 2015. · since: October 8, 2014 · amount: 255524 · currency: CAD
- financial positionnote: Components only, no stated total: customer loan portfolios €33,438,000 (including interest/penalties); loan portfolio receivables from collection agents (Svea, Intrum, Carat) €4,709,000 (undocumented); other receivables of undisclosed source €958,000; receivables from non-arms-length Mäki-controlled entities approximately €2,694,000; liabilities of approximately €1,100,000 with 'no clear record of what comprises' them. · as at: 2013-12-31 · basis: draft, unaudited, based on limited available public registry financial statements as at December 31, 2013; Receiver notes 'the available information may not be totally reliable' · scope: combined/consolidated RTF Financial Holdings Inc. and its wholly and majority owned subsidiaries · currency: EUR
- operational summaryRTF and its subsidiaries have no ongoing normal business operations; interim management appointed by the Receiver is focused on securing customer loan portfolios, pursuing collection or sale of those portfolios, and investigating and recovering funds allegedly diverted by former management (Mäki and associates) rather than continuing active lending operations.
- receipts cumulativenote: Cumulative receipts for RTF for the period October 8, 2014 to February 20, 2015; Receiver's Certificates account for the majority of receipts. A separate figure of €191,362 (including opening cash balances) is reported for the Nordic Subs for the period November 6, 2014 to February 20, 2015. · since: October 8, 2014 · amount: 264790 · currency: CAD
- report date13 March 2015
- report noSecond Report