Alberta · Bankruptcy
Trustee's First Report to Court dated February 21, 2022.pdf
Court officer report · 21 February 2022
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A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
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- courtCOURT OF QUEEN’S BENCH OF ALBERTA
- court file no25-2797722
- appointeeGrant Thornton Limited
- appointee roletrustee in bankruptcy
- commencement date20 January 2022
- statutory basissection 49 of the Bankruptcy and Insolvency Act
- secured creditorsnote: Secured proof of claim submitted February 3, 2022 asserting indebtedness of $2,665,085; security opinion from independent legal counsel (Dentons) dated February 9, 2022 confirmed validity, enforceability, and perfection of security. · page: 6 · as of: 2022-02-03 · amount: 2665085 · debtor: 2311382 Alberta Ltd. · creditor: SaskWorks Venture Fund Inc. · currency: CAD · security: General Security Agreement effective March 31, 2021 over all present and after-acquired personal property, including all inventory; Revolving Credit Facility up to $5,000,000 principal
- secured creditorsnote: Guarantee limit stated, not a balance; Curbie acted as limited guarantor · page: 6 · debtor: Curbie Cars Inc. · creditor: SaskWorks Venture Fund Inc. · currency: CAD · security: Limited Guarantee dated March 31, 2021 by Curbie of 231 Alberta's obligations under Credit Agreement, up to $1,250,000; secured by Share Pledge Agreement (Curbie pledged all shares in 231 Alberta to SaskWorks)
- financial positionnote: Asset breakdown: Cash $48,905; Accounts receivable $60,300; Machinery, equipment, and plant $69,000; Vehicles $0. Liabilities not stated on these pages. A separate figure of $1,832,534 in total assets is reported for 231 Alberta (Cash $502,942; Vehicles $1,329,592) on the same page. · page: 9 · as at: 2022-01-19 · basis: Statement of Affairs (Form 78), sworn January 19, 2022 · scope: entity - Curbie Cars Inc. · currency: CAD · total assets: 178205