British Columbia · Receivership (court-appointed)
Trustee's Preliminary Report to Creditors
Court officer report · 21 February 2024
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
- appointeeMNP Ltd.
- appointee roleLicensed Insolvency Trustee
- commencement date1 February 2024
- courtIN THE SUPREME COURT OF BRITISH COLUMBIA
- statutory basisBankruptcy and Insolvency Act
- financial positionnote: SOA reported Other Property (residual receivership funds) of $1.00; SOA-listed secured creditors totalled $1.00 (nominal) versus $304,931.63 per proofs of claim actually filed (one claim disputed as invalid); unsecured creditors SOA total $3,077,711.96 versus $4,476.03 filed to date. · page: 2 · basis: Statement of Affairs filed in the bankruptcy · scope: LAH Sourcing Ltd. (single entity) · currency: CAD · total assets: 1 · total liabilities: 3077712.96
- secured creditorsnote: As of the date of the report, RBC had not submitted a proof of claim; balance unstated. RBC agreed administration costs paid in priority to its security. · page: 2 · as of: BC PPR search January 6, 2023 · debtor: LAH Sourcing Ltd. · creditor: Royal Bank of Canada (RBC) · currency: CAD · security: General security agreement over all present and after-acquired personal property, wherever situate
- secured creditorsnote: Deemed trust class claim; ranks in priority to all other creditors. Proof of claim submitted for $763. GST/HST amounts owing rank as unsecured. · page: 2 · amount: 763 · debtor: LAH Sourcing Ltd. · creditor: Canada Revenue Agency (CRA) · currency: CAD · security: Deemed trust claim (statutory priority) equal to unremitted payroll deductions
- secured creditorsnote: Trustee notes supporting documents reference a mortgage against LAH Holdings Ltd. and Faizel Kathrada, not LAH Sourcing Ltd.; claim appears invalid against this debtor (disputed/likely invalid). · page: 2 · amount: 304931.63 · debtor: LAH Holdings Ltd. and Faizel Kathrada (per supporting mortgage documents, not LAH Sourcing Ltd.) · creditor: Andrew Rafuse · currency: CAD · security: Mortgage
- provinceBritish Columbia