Alberta · Receivership (court-appointed)
First Report of the Receiver, dated July 24, 2019
Court officer report · 24 July 2019
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What we verified from this filing7 verified
- unsecured creditorsnote: Deemed trust class per CRA; amount is approximate and anticipated to be reduced once further tax returns with input tax credits are submitted · page: 5 · as of: NOI filing date · basis: Receiver's correspondence with CRA regarding potential deemed trust amounts · amount: 9300 · debtor: Inara Investments Inc. · creditor: Canada Revenue Agency (GST) · currency: CAD
- secured creditorsnote: First ranking secured creditor; opinion on validity/enforceability of security not yet provided by Receiver's counsel as of report date; ATB also advanced incremental $300,000 to Receiver via two Receiver's Certificates secured by Receiver's Borrowing's Charge (post-filing financing, not pre-filing debt) · page: 6 · as of: 2019-04-10 · amount: 1145901 · debtor: Inara Investments Inc. · creditor: ATB Financial · currency: CAD · security: General security agreement registered September 8, 1998 against all present and after acquired personal property
- secured creditorsnote: Amount not stated · page: 7 · as of: 2014-04-24 · debtor: Inara Investments Inc. · creditor: RCAP Leasing Inc. · currency: CAD · security: Security agreement registered April 24, 2014 over, inter alia, telecommunication equipment leased to Inara
- secured creditorsnote: Amount not stated; multiple registrations against specific equipment/fixtures · page: 7 · as of: 2012-06-22 · debtor: Inara Investments Inc. · creditor: North Shore Leasing and Blueshore Leasing (collectively, "Blueshore") · currency: CAD · security: Security agreement registered June 22, 2012 over, inter alia, hotel furniture and fixtures; further security interest registered April 22, 2015 (Slexi Laurention vinyl plank flooring and installation) and July 15, 2015 (illuminated D/F plyon signage)
- unsecured creditorsnote: Disputed/unsecured claim; Inara never formally granted security to Heritage; principal of Heritage, Mr. Nizar Valji, is also a minority shareholder of Inara (related party) · page: 7 · as of: 2016-10-01 · basis: Statement of claim filed by Heritage, alleging sum due as of October 1, 2016 with interest continuing to accrue at 12% per annum · amount: 530642.56 · debtor: Inara Investments Inc. · creditor: Heritage Contracting and Interiors Ltd. · currency: CAD
- unsecured creditorsnote: Preferred/priority claim (property taxes); approximately $52,979 of this amount pertains to the 2019 tax year which came due subsequent to the date of the Receivership · page: 8 · as of: NOI filing date · basis: Receiver's understanding of outstanding property taxes, plus accruing interest · amount: 269904 · debtor: Inara Investments Inc. · creditor: Town of Whitecourt (property taxes) · currency: CAD
- unsecured creditorsnote: Regulatory/tax levy indebtedness; approximate amount · page: 8 · as of: NOI filing date · basis: Registered writ corresponding to unsecured indebtedness · amount: 50062 · debtor: Inara Investments Inc. · creditor: Minister of Treasury Board and Finance (Alberta Tourism Levy) · currency: CAD