British Columbia · Bankruptcy
Trustee's Preliminary Report to Creditors
Court officer report · 23 October 2024
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What we verified from this filing15 verified
- appointeeMNP Ltd.
- appointee roleLicensed Insolvency Trustee
- commencement date7 October 2024
- courtIN THE SUPREME COURT OF BRITISH COLUMBIA
- court file no11-3137984
- proceeding typebia_bankruptcy
- statutory basisBankruptcy and Insolvency Act
- statutory basisBankruptcy and Insolvency Act
- financial positionnote: Table shows two columns: 'Statement of Affairs' ($234,183 total) and 'Filed' ($249,271 total); Filed column used as more current figure. Assets of $5,000 per Statement of Affairs represent Directors' estimate; Trustee noted no assets of material value upon attendance at leased premises. · page: 2 · basis: Statement of Affairs (Directors' estimated values) and Filed figures as reported by Trustee · scope: entity - 1375871 B.C. Ltd. · currency: CAD · total assets: 5000 · total liabilities: 249271
- secured creditorsnote: Deemed trust class claim; amount not stated - no proof of claim received from CRA to date; Trustee to confirm amounts owing, if any. · page: 2 · debtor: 1375871 B.C. Ltd. · creditor: Canada Revenue Agency (CRA) · currency: CAD · security: Deemed trust claim over unremitted payroll source deductions, ranking in priority to all other creditors
- secured creditorsnote: RBC filed proof of claim with secured claim of $190,231 and unsecured claim of $10,000 (see unsecured entry). Statement of Affairs listed secured creditors at $185,139; proof of claim figure of $190,231 is the exact/updated amount. · page: 2 · as of: proof of claim filed · amount: 190231 · debtor: 1375871 B.C. Ltd. · creditor: Royal Bank of Canada (RBC) · currency: CAD · security: General security over the Company's assets (BC PPR registration)
- unsecured creditorsnote: RBC's proof of claim bifurcated into secured ($190,231, see secured entry) and unsecured ($10,000) portions. · page: 2 · as of: proof of claim filed · basis: Proof of claim filed with Trustee · amount: 10000 · debtor: 1375871 B.C. Ltd. · creditor: Royal Bank of Canada (RBC) - unsecured portion · currency: CAD
- secured creditorsnote: Trustee estimates no priority claim will arise as employees were paid all wages and vacation pay; amount represents statutory cap, not a confirmed balance owing. · page: 3 · amount: 2000 · debtor: 1375871 B.C. Ltd. · creditor: Employees (wage earners) · currency: CAD · security: Statutory security under BIA s.81.3(1) over Company's other property, to extent of $2,000 per employee for wages/vacation pay/compensation in the 6 months preceding bankruptcy
- unsecured creditorsnote: Document names no individual unsecured creditors. Statement of Affairs table elsewhere shows $49,044 (SOA) vs $59,040 (Filed) for unsecured creditors specifically, differing from the $229,183 total reported in the narrative section; both figures as stated in document, discrepancy not reconciled by Trustee. No proofs of claim had been filed as of report date. · page: 3 · as of: Statement of Affairs · basis: Statement of Affairs as reported · amount: 229183 · debtor: 1375871 B.C. Ltd. · creditor: Unsecured creditors (aggregate as reported) · currency: CAD
- provinceBritish Columbia