British Columbia · Winding-up (provincial)
Second Report of the Liquidator
Court officer report · 23 April 2024
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What we verified from this filing9 verified
- cash on handnote: Balance held in Liquidator's trust account as at April 15, 2024 · as at: 2024-04-15 · amount: 120560.69 · currency: CAD
- disbursementsnote: Total disbursements as at April 15, 2024 per the Revised Estimated Statement of Final Accounts (Appendix I); balance of $120,560.69 remained undistributed pending Court order · amount: 8955514.98 · currency: CAD
- fee scheduleengagements: form: invoice_listing · rows: · money: tax: label: Taxes · quote: S 1,594.70 · amount: 1594.7 · fees: quote: TOTAL | 31,894.00 · amount: 31894 · total: quote: s 33,488.70 · amount: 33488.7 · includes tax: true · approximate: false · period: end: 2024-03-31 · kind: cumulative · label: Period Covered · quote: September 1, 2022 to October 31, 2022 · start: 2022-09-01 · approval: state: unstated · averages: · currency: · invoices: tax: 399.88 · fees: 7997.6 · quote: September 1, 2022 to October 31, 2022 | 7,997.60 | 399.88 | 8,397.48 · total: 8397.48 · period end: 2022-10-31 · period start: 2022-09-01; tax: 96.25 · fees: 1925 · quote: November 1, 2022 to November 30, 2022 | 1,925.00 | 96.25 | 2,021.25 · total: 2021.25 · period end: 2022-11-30 · period start: 2022-11-01; tax: 378.92 · fees: 7578.4 · quote: December 1, 2022 to December 31, 2022, including estimate for discharge | 7,578.40 | 378.92 | 7,957.32 · total: 7957.32 · period end: 2022-12-31 · period start: 2022-12-01; tax: 575.37 · fees: 11507.3 · quote: January 1, 2023 to January 31, 2024, deducting prior estimate for discharge (unpaid) | 11,507.30 | 575.37 | 12,082.67 · total: 12082.67 · period end: 2024-01-31 · period start: 2023-01-01; tax: 144.29 · fees: 2885.7 · quote: February 1, 2024 to March 31, 2024 (unpaid) | 2,885.70 | 144.29 | 3,029.99 · total: 3029.99 · period end: 2024-03-31 · period start: 2024-02-01; tax: 619.05 · fees: 12380.95 · quote: April 1, 2024 to present including estimate for Liquidator's time to complete duties | 12,380.95 | s 619.05 | $ 13,000.00 · total: 13000 · period start: 2024-04-01 · firm text: MNP Ltd. · firm quote: MNP Ltd. was appointed as Liquidator (the "Liquidator") of the Company. · context quote: MNP Ltd. was appointed as Liquidator (the "Liquidator") of the Company.; form: time_summary · rows: Patty Wood; Elizabeth Chen; fees: 457.4 · rate: 191 · hours: 2.4 · quote: Heather Ursaki/Ashrose | Admin. Assistant | 191 | 2.40 | 457.40 · title: Admin. Assistant · row kind: bucket · rate kind: average · name as stated: Heather Ursaki/Ashrose; Winnie Peng; fees: 31894 · hours: 57.1 · quote: Total | | | 57.10 | $ 31,894.00 · row kind: subtotal · rate kind: average · name as stated: Total · money: fees: quote: Total | | | 57.10 | $ 31,894.00 · amount: 31894 · approximate: false · period: end: 2024-03-31 · kind: cumulative · label: Liquidator's accounts referenced in Appendix "G" · quote: Summary of Time - Liquidator (in relation to Liquidator's accounts referenced in Appendix "G") · start: 2022-09-01 · approval: state: unstated · averages: · currency: · invoices: · firm text: MNP Ltd. · firm quote: MNP Ltd. was appointed as Liquidator (the "Liquidator") of the Company. · hours total: quote: Total | | | 57.10 | $ 31,894.00 · value: 57.1 · context quote: Summary of Time - Liquidator (in relation to Liquidator's accounts referenced in Appendix "G")
- operational summaryThe Liquidator's administration of Louis Racz Co. Ltd. is substantially finalized, with only distribution of remaining trust funds, filing of outstanding tax returns/T5 slips, and dissolution steps remaining, delayed because two shareholders refused to cash their final dividend cheques.
- professional feesnote: Stated before applicable taxes; an additional estimate of not more than $13,000.00 inclusive of fees and taxes was disclosed for April 1, 2024 to conclusion of the Liquidation · party: Liquidator (MNP Ltd.) · amount: 31894 · period: September 1, 2022 to March 31, 2024 · currency: CAD
- receipts cumulativenote: Total receipts per the Liquidator's Statement of Final Accounts / Revised Estimated Final Accounts (Appendix I); start date of cumulative period not explicitly stated · amount: 9076075.67 · currency: CAD
- recovery outcomeentries: basis: actual · quote: On January 5, 2023, the Liquidator declared a dividend to the Shareholders in the amount of $241,121.38 (the "Final Dividend") and paid the Final Dividend to the Shareholders from funds held in trust by the Liquidator. · pct of: unstated · outcome: distribution · class key: equity · stated by: liquidator · amount low: 241121.38 · amount high: 241121.38 · class label: Class C Shareholders · interim final: final · claims qualifier: unstated; basis: actual · quote: | 1012109 B.C. Ltd. | 32.5 | ss 78,364.45 | $ 78,364.45 | · pct of: unstated · outcome: distribution · class key: equity · stated by: liquidator · amount low: 78364.45 · amount high: 78364.45 · class label: 1012109 B.C. Ltd. · creditor name: 1012109 B.C. Ltd. · interim final: unstated · claims qualifier: unstated; basis: actual · quote: | Etus Maria Racz | 15 | 36,168.21 | S 36,168.21 | · pct of: unstated · outcome: distribution · class key: equity · stated by: liquidator · amount low: 36168.21 · amount high: 36168.21 · class label: Etus Maria Racz · creditor name: Etus Maria Racz · interim final: unstated · claims qualifier: unstated; basis: actual · quote: | Michael Siwik | 35 | s 84,392.48 | S 84,392.48 | · pct of: unstated · outcome: distribution · class key: equity · stated by: liquidator · amount low: 84392.48 · amount high: 84392.48 · class label: Michael Siwik · creditor name: Michael Siwik · interim final: unstated · claims qualifier: unstated; basis: actual · quote: | Lisa Maddess | 17.5 | S 42,196.24 | $ 42,196.24 | · pct of: unstated · outcome: distribution · class key: equity · stated by: liquidator · amount low: 42196.24 · amount high: 42196.24 · class label: Lisa Maddess · creditor name: Lisa Maddess · interim final: unstated · claims qualifier: unstated · stated on: 2023-01-05 · table missing:
- report date22 April 2024
- report noSecond Report