Ontario · Bankruptcy
The First Report to the Court dated
Court officer report · 27 February 2020
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 filing10 verified · 1 withheld
- appointeeMNP Ltd.
- appointee roleLicensed Insolvency Trustee
- courtSUPERIOR COURT OF JUSTICE
- court file no31-2484304
- provinceONTARIO
- financial positionnote: Assets listed by category, not summed: Cash in Bank $1,539 (recovered $1,464); Funds Held in Trust by A&B (Sale Proceeds) $591,503 (recovered $0); Costs Award - Victor M. Seabrook & Timothy Seabrook, trustees $8,000 (recovered $0); Cause of Action $6,752,100 (recovered $0). Liabilities per SOA: Secured Nil, Preferred Unsecured Nil, Ordinary Unsecured $21,400,488, Contingent $1, Total $21,400,489. Claims as filed as at January 16, 2020 differ: Ordinary Unsecured $21,882,296, Contingent $3,197,204, Total $25,079,500 (admissibility not yet determined by Trustee). · basis: Statement of Affairs (sworn) · scope: entity - Galty B.V. bankruptcy estate · currency: CAD · total liabilities: 21400489
- operational summaryGalty B.V. is a bankrupt former property investment and holding company with no ongoing business operations; the Trustee is administering the estate, pursuing recovery of sale proceeds held in trust, reviewing claims, and addressing related litigation.
- professional feesnote: Settlement of A&B's Professional Fees and Disbursements claim of $66,922.01 (aggregate of four invoices) for a Retained Amount of $45,805.93, representing the July 2017 Invoice plus interest. · party: Aird & Berlis LLP (A&B) · amount: 45805.93 · currency: CAD
- report date27 February 2020
- report noFirst Report
1 extracted value is withheld: either a trap-shaped field where models produce confident wrong numbers, or an identity value whose quotation could not be found in the document. Withheld values are shown to no one.