Alberta · Bankruptcy
Third Report of the Trustee
Court officer report · 12 November 2014
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 filing7 verified
- cash on handnote: Statement shows excess of receipts over disbursements represented by cash in bank of $1,522,246; approximately $1.3 million of this is held in trust by Trustee's legal counsel pending the Lockerbie Claim hearing. · as at: 2014-11-10 · amount: 1522246 · currency: CAD · qualifier: approximately $1.5 million held in trust
- disbursementssince: date of bankruptcy (statement for period ended November 10, 2014) · amount: 1217438 · currency: CAD
- operational summaryThe PLG Group's assets have been auctioned and its premises disclaimed; the Trustee is collecting accounts receivable through lien proceedings and settlements and holding disputed funds (the Lockerbie Claim) in trust pending an interim distribution.
- professional feesnote: Net of GST. Also: Field LLP (Trustee's legal counsel) approx. $277,020 net of GST for period ended September 2, 2014; Wilson Laycraft LLP (conflict counsel) $10,366 net of GST for period ended July 14, 2014. CRA permits Trustee fees and expenses up to $1.2 million ahead of its property claims. · party: Trustee (Deloitte Restructuring Inc.) · amount: 588159 · period: period ended September 25, 2014 · currency: CAD
- receipts cumulativenote: Includes net auction proceeds of $1,606,223 and accounts receivable collections of $953,327. · since: date of bankruptcy (statement for period ended November 10, 2014) · amount: 2739684 · currency: CAD
- report date12 November 2014
- report noThird Report