British Columbia · Receivership (court-appointed)
Receiver's Final Report on the Affairs of the Debtor (s246(3)) dated April 23, 2025
Court officer report · 23 April 2025
A plain-language read of this filing opens with a subscription.
What we verified from this filing1 verified
- recovery outcomeentries: basis: actual · quote: $2,658 to Canada Revenue Agency in respect of its deemed trust claim for unremitted source deductions; · pct of: unstated · outcome: distribution · class key: deemed_trust · stated by: receiver · amount low: 2658 · amount high: 2658 · class label: Canada Revenue Agency (deemed trust claim for unremitted source deductions) · creditor name: Canada Revenue Agency · interim final: unstated · claims qualifier: unstated; basis: actual · quote: $551 to WorkSafeBC in respect of outstanding premiums secured by a statutory lien on all property or proceeds of property used or produced by PolyCan pursuant to section 265 of the Workers' Compensation Act; · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · amount low: 551 · amount high: 551 · class label: WorkSafeBC (outstanding premiums secured by statutory lien) · creditor name: WorkSafeBC · interim final: unstated · claims qualifier: unstated; basis: actual · quote: $254,214 to Bank of Montreal (' BMO ') in repayment of the amounts due and owing under the Receiver's Borrowing Charge (as defined in the Receivership Order); and · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · amount low: 254214 · amount high: 254214 · class label: Bank of Montreal (Receiver's Borrowing Charge) · creditor name: Bank of Montreal · interim final: unstated · claims qualifier: unstated; basis: actual · quote: The realizations from the sale of the Property were insufficient to pay, in full, the secured claims of BMO. · pct of: unstated · outcome: shortfall · class key: secured · stated by: receiver · amount low: 2789512 · amount high: 2789512 · class label: BMO as first secured creditor of PolyCan · creditor name: Bank of Montreal · interim final: unstated · claims qualifier: unstated; basis: actual · quote: Accordingly, there were no funds available to distribute to the PolyCan's unsecured creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: receiver · class label: PolyCan's unsecured creditors · interim final: unstated · claims qualifier: unstated · stated on: 2025-04-23 · table missing: