British Columbia · Bankruptcy
Report on the Trustee's Preliminary Administration
Court officer report · 6 June 2017
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 filing3 verified · 4 withheld
- cash on handnote: Trustee has taken possession of these funds and deposited them in an Estate trust account · as at: 2017-06-06 · amount: 3310837 · currency: CAD
- financial positionnote: Components (net book value): Cash on hand $3,310,837; Amounts due from third parties $349,905 (plus unknown further HUKA fees); Leasehold improvements $614,190 (est. realizable $Nil); Equipment $337,672 (est. realizable $166,000 high); Deposits $2,745,000 (artist/vendor/withholding, recoverability unknown). Estimated net realizable value range stated separately as $3,393,837 (low) to $3,826,742 (high). · as at: 2017-06-06 · basis: Preliminary estimated net book value, with separate low/high estimated net realizable values also stated · scope: Pemberton Music Festival Limited Partnership and 1115666 B.C. Ltd. (consolidated bankrupt Estate) · currency: CAD · total assets: 7357604
- operational summaryThe 2017 PMF was cancelled following the bankruptcy filing; the Trustee has taken possession of the bankrupts' assets and books/records, secured the Pemberton site, frozen bank accounts, and is investigating recoverability of deposits and amounts owed by the former producer HUKA.
4 extracted values are 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.