Saskatchewan · Bankruptcy
Trustee's Eighth Report to Court
Court officer report · 27 March 2023
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 filing7 verified
- closing confirmedscope: the Vehicles · outcome: completed · effective: 2023-11-22 · date basis: stated; scope: the Oak and Ash Lands · outcome: not_completed · date basis: unstated
- operational summaryThe report responds to the Lori Runzer affidavit, attributing escalating costs and delays to the debtors' poor record-keeping and lack of good faith, and states the Trustee cannot support the FireSong Group restructuring. 1216699 Alberta Ltd. and, after a failed quorum, 206 and Oak and Ash were deemed bankrupt; the 114 proposal remains unvoted/contested.
- professional feesnote: Report states that none of the professionals have been paid to date; no fee amount is given. Administration charge is described as first-priority in respect of professional fees. · party: all professionals in the proceedings · currency: CAD
- purchaserprice: sealed: false · scope: the Vehicles · status: closed · name note: unnamed vehicle purchasers at auction · structure: auction · name source: recital · relationship: unstated; price: sealed: false · scope: the Oak and Ash Lands · status: not_completed · name note: third party purchaser of the Oak and Ash Lands, unnamed · structure: real_property · name source: recital · relationship: unstated
- recovery outcomeentries: basis: estimated · quote: Recent discussions have implied that based on the events described above, it is unlikely that there will be equity in the Oak and 206 properties after payment of the ATB debt and professional fees meaning that there will be no monies available for the creditors of Oak and 206 in a restructuring; · pct of: unstated · outcome: nil · class key: unsecured · stated by: proposal_trustee · class label: creditors of Oak and 206 · interim final: unstated · conditional on: it is unlikely that there will be equity in the Oak and 206 properties after payment of the ATB debt and professional fees · claims qualifier: unstated · table missing:
- report date27 March 2023
- report noEighth Report