Quebec · Bankruptcy
Trustee's Report to the Creditors on Preliminary Administration
Court officer report · 24 May 2017
What we verified from this filing11 verified
- appointeeDeloitte Restructuring Inc.
- appointee roleTrustee
- courtS U P E R I O R C O U R T
- court file no500-11-052507-171
- provinceQUEBEC
- commencement date3 May 2017
- cash on handnote: Stated as both book value and estimated net realization value in the assets summary as of May 24, 2017. · as at: 2017-05-24 · amount: 4345 · currency: CAD
- financial positionnote: Components: Cash 4,345 (book value and net realization value); Accounts receivable 5,283,641 book value, net realization value nil; Unsecured creditors - affiliated companies 16,607,305; Unsecured creditors - other creditors 2,011,534; Deficit of unsecured creditors estimated at (18,614,494); analysis does not consider professional fees necessary for administration of the estate. · as at: 2017-05-24 · basis: unaudited internal summary; assets stated at book value with estimated net realization value of $4,345, liabilities stated at estimated claim amounts · scope: entity: Harirela Hotels Ltd. (the Bankrupt) · currency: CAD · total assets: 5287986 · total liabilities: 18618839
- operational summaryHHL sold its only operating asset, the Quality Hotel, in October 2015, ceased operations thereafter, and now holds only a small remaining cash balance while it proceeds through bankruptcy administration.
- recovery outcomeentries: basis: estimated · quote: As the funds expected to be realized from the liquidation of the Bankrupt's assets will more than likely all be used to pay a portion of the Trustee's professional fees and disbursements, the Trustee estimates that there will not be sufficient funds available in the Bankrupt's estate to provide for a distribution to 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: 2017-05-24 · table missing:
- report date24 May 2017