Manitoba · Bankruptcy
BHC Report for First Creditor Meeting
Court officer report · 28 September 2021
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What we verified from this filing13 verified · 1 withheld
- appointeeErnst & Young Inc.
- appointee roletrustee in bankruptcy
- commencement date9 September 2021
- court file no21-2765264
- proceeding typebia_bankruptcy
- provinceMANITOBA
- statutory basisBankruptcy and Insolvency Act (“BIA”)
- statutory basisBankruptcy and Insolvency Act
- cash on handnote: Cash listed on Statement of Affairs as $300; deposited into estate trust bank account by Trustee · amount: 300 · currency: CAD · qualifier: petty cash fund secured in a safe, deposited into estate trust account
- operational summaryBHC, a former licensed cannabis producer, wound down operations prior to bankruptcy, disposing of all cannabis and biological assets and terminating employees; the Trustee has taken possession of the sole remaining asset, the land and buildings on Jarvis Avenue, and is seeking proposals from commercial real estate agents to arrange a sale.
- recovery outcomeentries: basis: estimated · quote: While ACU has filed its claim as a secured creditor, the Trustee notes that ACU has also filed an unsecured claim in the approximate amount of $5 million, representing an expected shortfall after the realization of the assets of BHC. · pct of: unstated · outcome: shortfall · class key: secured · stated by: trustee · class label: secured creditors (ACU) · creditor name: The Assiniboine Credit Union Limited · interim final: unstated · claims qualifier: unstated · shortfall amount: 5000000; basis: estimated · quote: Given the information available to the Trustee in respect of the estimated realization value of the assets and the amount owed to the secured creditors, the Trustee anticipates that there will not be any funds available for distribution to unsecured creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated · stated on: 2021-09-28 · table missing:
- report date28 September 2021
- report noReport of the Trustee on Preliminary Administration for the First Meeting of Creditors
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.