Alberta · Bankruptcy
Tabled Documents
Statement of affairs · 17 August 2021
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 filing12 verified
- commencement date30 July 2021
- financial positionnote: Total liabilities of $5,022,559.53 comprises: unsecured creditors per List A $1,152,607.24, balance of secured claims per List B $3,020,156.29 (total unsecured creditors line $4,172,763.53), secured creditors per List B $849,796.00, preferred creditors $0.00, contingent/trust claims $0.00. Deficiency stated as $4,172,763.53. Trustee's Report (page 19) describes SOA as listing 'Company creditors in the approximate sum of $5,022,559' at date of bankruptcy, noting this may be reduced by receivership distributions and is subject to change via ongoing claims process. · page: 2 · as at: 2021-07-30 · basis: Statement of Affairs (Business Bankruptcy), as stated and estimated by the officer (Stephen Maerz), sworn/unsigned · scope: 1069416 Alberta Ltd. (entity level, excluding Subsidiaries MVM Machining (Texas) LP, KEI Inc. and Stoney Trail Sports Ltd., which the Trustee's Report notes are being wound up separately by management) · currency: CAD · total assets: 849796 · total liabilities: 5022559.53
- provinceAlberta
- statutory basisSubsection 49(2) and Paragraph 158(d) of the Act / Subsections 50(2) and 62(1) of the Act
- unsecured creditorsnote: Document itemises 172 individual unsecured creditors (see List A, pages 3-10); largest individual items include Service Canada - WEPPA $128,973.18, Receiver General $60,009.00, Employees (various) $257,012.00, Bennett Jones LLP $37,960.56, Ryerson Canada Inc $54,364.78, Encore Metals $50,513.38, Luxfer Mel Technologies $50,045.22, Extreme Telematics (US) $55,871.15; also includes balance of secured claims (deficiency) shown separately as $3,020,156.29 for BDC Capital Inc bringing total unsecured creditors line to $4,172,763.53; a separate creditor listing (page 23-24) totals $4,172,725.71 (minor rounding difference) · page: 3 · as of: 2021-07-30 · basis: Statement of Affairs List 'A' as stated and estimated by the officer · amount: 1152607.24 · debtor: 1069416 Alberta Ltd. · creditor: Unsecured creditors (per Statement of Affairs List A, itemised - 172 creditors listed) · currency: CAD
- secured creditorsnote: Nominal $1.00 claim amount · page: 11 · as of: 2021-07-30 · amount: 1 · debtor: 1069416 Alberta Ltd. · creditor: Arkalta Investments Ltd · currency: CAD · security: Cash on Hand - Cash in Bank; Debts Due - Business - Accounts Receivable; Debts Due - Business - Intercompany & Investments (all $0.00 estimated value)
- secured creditorsnote: Balance of claim $3,020,150.29 after estimated value of security applied; described in Trustee's Report as 'primary secured creditor' · page: 11 · as of: 2021-07-30 · amount: 3799652 · debtor: 1069416 Alberta Ltd. · creditor: BDC Capital Inc · currency: CAD · security: Debts Due - Business - Accounts Receivable ($18,017); Debts Due - Business - Intercompany & Investments ($1,000); Cash on Hand - Cash in Bank ($760,484.71)
- secured creditorsnote: Listed 3 times with different addresses (Toronto, Burlington, Toronto), each $1.00; RBC indebtedness stated in Trustee's Report to have been settled in full by interim distributions in receivership prior to bankruptcy · page: 11 · as of: 2021-07-30 · amount: 1 · debtor: 1069416 Alberta Ltd. · creditor: Royal Bank of Canada · currency: CAD · security: Cash on Hand - Cash in Bank; Debts Due - Business - Accounts Receivable; Debts Due - Business - Intercompany & Investments (all $0.00 estimated value)
- secured creditorsnote: Nominal $1.00 claim amount; RBC indebtedness stated in Trustee's Report to have been settled in full by interim distributions in receivership prior to bankruptcy · page: 11 · as of: 2021-07-30 · amount: 1 · debtor: 1069416 Alberta Ltd. · creditor: Royal Bank - Business Service Centre · currency: CAD · security: Cash on Hand - Cash in Bank; Debts Due - Business - Accounts Receivable; Debts Due - Business - Intercompany & Investments (all $0.00 estimated value)
- secured creditorspage: 11 · as of: 2021-07-30 · amount: 20090.33 · debtor: 1069416 Alberta Ltd. · creditor: Receiver General · currency: CAD · security: Cash on Hand - Cash in Bank
- secured creditorsnote: Nominal $1.00 claim amount · page: 12 · as of: 2021-07-30 · amount: 1 · debtor: 1069416 Alberta Ltd. · creditor: TDF Group Inc. · currency: CAD · security: Cash on Hand - Cash in Bank; Debts Due - Business - Accounts Receivable; Debts Due - Business - Intercompany & Investments (all $0.00 estimated value)
- secured creditorsnote: Wage Earner Protection Program Act subrogated claim · page: 12 · as of: 2021-07-30 · amount: 50203.96 · debtor: 1069416 Alberta Ltd. · creditor: Service Canada - WEPPA · currency: CAD · security: Cash on Hand - Cash in Bank