Ontario · Bankruptcy
Trustees Preliminary Report Bayview Creek CIM LP May 20 2021
Court officer report · 21 May 2021
Also filed as: Trustee's Preliminary Report - 10502715 Canada Inc.
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 filing14 verified
- appointeeMNP Ltd.
- appointee roleTrustee
- commencement date4 May 2021
- court file no31-2734610 & 31-2734603
- proceeding typebia_bankruptcy
- provinceONTARIO
- secured creditorsnote: PPSA search conducted May 15, 2021; no amount stated. · page: 2 · debtor: Bayview Creek (CIM) LP · creditor: DUCA Financial Services Credit Union Ltd. · currency: CAD · security: PPSA registration against the Partnership
- secured creditorsnote: Separate PPSA registration listed distinct from the mortgage security above; no amount stated. · page: 2 · debtor: Bayview Creek (CIM) LP · creditor: Bryton Capital Corp. GP Ltd. · currency: CAD · security: PPSA registration against the Partnership
- secured creditorsnote: No amount stated; counsel (Gowlings) also represents this party as a creditor of CIM Bayview. · page: 2 · debtor: Bayview Creek (CIM) LP · creditor: GR (CAN) Investment Co. Ltd. · currency: CAD · security: PPSA registration against the Partnership
- secured creditorsnote: Amount is registered principal of second mortgage, not a stated balance; Bryton also appointed RSM Canada Limited as receiver of the Property on April 12, 2021. · page: 2 · amount: 22300000 · debtor: Bayview Creek (CIM) LP / CIM Bayview Creek Inc. · creditor: Bryton Capital Corp. GP Ltd. · currency: CAD · security: Second ranking mortgage over the Property (registered principal sum)
- secured creditorsnote: No amount stated; counsel (Gowlings) also represents this party as a creditor of CIM Bayview. · page: 2 · debtor: Bayview Creek (CIM) LP · creditor: Monest Financial Inc. · currency: CAD · security: PPSA registration against the Partnership
- financial positionnote: Total liabilities figure is the SOA Combined total ($47,580,308.97 secured/deemed trust + Nil preferred + $13,987,152.19 unsecured = $61,567,461.16 as stated in the document). Gross sale value of Property estimated at $55,000,000, net of estimated secured charges producing an estimated surplus of approximately $7.4 million. Trustee expresses no opinion on validity, exactness or reliability of underlying books and records. · page: 3 · basis: Statement of Affairs estimate; potential gross sale value of the Property per SOA, unaudited books and records not reviewed by Trustee · scope: Partnership Combined (10502715 Canada Inc. and Bayview Creek (CIM) LP) · currency: CAD · total assets: 55000000 · total liabilities: 61567461.16
- secured creditorsnote: No secured/deemed trust proofs of claim filed as at May 20, 2021 (5:00 PM) per the Claims as Filed column, which shows Nil for this category. · page: 3 · as of: Statement of Affairs · amount: 47580308.97 · debtor: Partnership Combined (10502715 Canada Inc. and Bayview Creek (CIM) LP) · creditor: Secured/Deemed Trust claims (aggregate per Statement of Affairs) · currency: CAD · security: Aggregate secured/deemed trust claims as reported in Partnership Combined Statement of Affairs
- unsecured creditorsnote: Document names no individual unsecured creditors; a separate 'Claims as Filed' figure of $12,254,525.20 as at 5:00 PM May 20, 2021 is reported alongside (proofs filed, not the SOA-reported figure). · page: 3 · as of: Statement of Affairs · basis: Partnership Combined Statement of Affairs as reported · amount: 13987152.19 · debtor: Partnership Combined (10502715 Canada Inc. and Bayview Creek (CIM) LP) · creditor: Unsecured creditors (aggregate as reported in Statement of Affairs) · currency: CAD