Alberta · Bankruptcy
Trustee's Report to Creditors
Court officer report · 1 August 2024
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What we verified from this filing15 verified
- appointeeMNP Ltd.
- appointee roleLicensed Insolvency Trustee
- commencement date12 July 2024
- courtIN THE COURT OF KING'S BENCH OF ALBERTA
- court file no24-3103800
- proceeding typebia_bankruptcy
- financial positionnote: Comparative balance sheet also shows Nov. 30, 2023: total assets $198,377, total liabilities $380,157 (page 3); no financial statements exist for the bankruptcy date; Statement of Affairs as at July 12, 2024 estimates realization of $10,000 (excise tax surety bond) against secured creditors, net recovery to secured creditors of $10,000 after fees, with a substantial shortfall to secured creditors and no recovery expected to unsecured creditors (page 6) · page: 3 · as at: 2022-11-30 · basis: Externally prepared financial statements; Company did not prepare financial statements for the 2024 stub period ending on the date of bankruptcy · scope: Grey Dog Distilling Ltd. (entity level) · currency: CAD · total assets: 212531 · total liabilities: 289354
- secured creditorsnote: Balance per Company's books and records; BDC had not filed a proof of claim as of report date · page: 5 · as of: date of bankruptcy · amount: 50440 · debtor: Grey Dog Distilling Ltd. · creditor: Business Development Bank of Canada · currency: CAD · security: General security agreement over all present and after-acquired property
- secured creditorsnote: Balance per Company's books and records; ATB had not filed a proof of claim as of report date · page: 5 · as of: date of bankruptcy · amount: 95000 · debtor: Grey Dog Distilling Ltd. · creditor: ATB Financial · currency: CAD · security: General security agreement over all present and after-acquired property
- unsecured creditorspage: 5 · as of: date of bankruptcy · basis: Trustee's listing of major unsecured creditors per Company's books and records · amount: 10861 · debtor: Grey Dog Distilling Ltd. · creditor: Tabletop Holdings · currency: CAD
- unsecured creditorspage: 5 · as of: date of bankruptcy · basis: Trustee's listing of major unsecured creditors per Company's books and records · amount: 6217 · debtor: Grey Dog Distilling Ltd. · creditor: Crossiron Renovations Inc. · currency: CAD
- unsecured creditorspage: 5 · as of: date of bankruptcy · basis: Trustee's listing of major unsecured creditors per Company's books and records · amount: 1 · debtor: Grey Dog Distilling Ltd. · creditor: Receiver General - Canada Revenue Agency · currency: CAD
- unsecured creditorspage: 5 · as of: date of bankruptcy · basis: Trustee's listing of major unsecured creditors per Company's books and records · amount: 1 · debtor: Grey Dog Distilling Ltd. · creditor: Workers' Compensation Board - Alberta · currency: CAD
- unsecured creditorsnote: Bifurcated: secured portion reported separately at $50,440 under general security agreement; this is the unsecured shortfall/remainder claim · page: 5 · as of: date of bankruptcy · basis: Trustee's listing of major unsecured creditors per Company's books and records · amount: 72020 · debtor: Grey Dog Distilling Ltd. · creditor: Business Development Bank of Canada · currency: CAD
- recovery outcomeentries: basis: estimated · quote: Based on the estimated realizations and conversations with management the Trustee estimates a substantial shortfall to the Company's secured creditors. · pct of: unstated · outcome: shortfall · class key: secured · stated by: trustee · class label: secured creditors · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: No recovery is expected to the 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: 2024-08-01 · table missing: