Quebec · Receivership (court-appointed)
Trustee’s Preliminary Report to Creditors
Court officer report · 8 January 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 filing2 verified
- financial positionnote: Total assets $32,100,562 is the book value (Sept 30, 2013); estimated net realization value of assets is $26,401,398. Liabilities total $28,818,318 per Statement of Affairs; deficit before professional fees $(2,416,920). Separately, the unaudited balance sheet as at September 30, 2013 shows total assets $31,560,944 and total liabilities $28,810,951 (partners' equity $2,749,993), converted at EUR1.00 = CAD1.3920. The Statement of Affairs book values use a different exchange rate (1.4158 as of Nov 19, 2013). · as at: 2013-11-21 · basis: Unaudited Statement of Affairs as of November 21, 2013; book value figures are as of September 30, 2013 and the net realization value is a trustee estimate (assets $26,401,398 at net realization value). Liabilities are stated at the net realization column: secured creditor $26,401,398 plus secured creditor (unsecured portion) $2,416,920; unsecured creditor nil. · scope: Homco Realty Fund (98) Limited Partnership (H98) only · currency: CAD · total assets: 32100562 · total liabilities: 28818318
- recovery outcomeentries: basis: estimated · quote: As per the HII Group's and Monitor's estimates and subject to a number of variables and risk factors further detailed in HII's Information Circular dated May 3, 2013, the distribution to be received from HII in connection with H98's claim for the intercompany receivable could represent approximately 32% of said claim existing at the date HII filed for protection under the CCAA, September 9, 2011. · pct of: unstated · outcome: distribution · pct low: 32 · pct high: 32 · class key: unsecured · stated by: trustee · class label: unsecured creditors (H98's claim for intercompany receivable against HII) · creditor name: HII · interim final: unstated · related party: true · conditional on: subject to a number of variables and risk factors further detailed in HII's Information Circular dated May 3, 2013 · claims qualifier: unstated · table missing: