Ontario · Bankruptcy
Report of the Trustee's Preliminary Administration (Spanish), dated February 2, 2023
Court officer report · 2 February 2023
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 filing5 verified
- cash on handnote: Figure per Estado de Asuntos as at January 17, 2023; bank accounts frozen for outgoing payments post-filing but still receiving incoming deposits. · as at: 2023-01-17 · amount: 2718233 · currency: CAD
- financial positionnote: Assets not given as single total: table shows Efectivo $2,718,233; Créditos por ventas book value $5,843,435 (realizable $2,800,000-$3,800,000); Cuentas por cobrar intercompañía $22,986,648 (realizable 'A informar'); Inventario $862,000 (realizable $0-$400,000); estimated total realizable value ranges from $5,518,233 (worst case) to $6,918,233 (best case). Liabilities: Acreedores garantizados (aprox.) $169,593,677; Acreedores quirografarios $18,295,565; Pasivo total $187,889,242. Trustee notes secured lenders' claim appears to significantly exceed estimated realizable value of assets. · as at: 2023-01-17 · basis: Estado de Asuntos (Statement of Affairs) declarado el 17 de enero de 2023, con valores de libros y valores realizables estimados (peor/mejor escenario) preparados por el Fiduciario · scope: entity-only: Lakeside Produce Inc. (not consolidated with the wider Cervini Group) · currency: CAD · total liabilities: 187889242
- operational summaryLakeside's operations had already ceased shortly before the bankruptcy filing on January 17, 2023, following termination of most employees; the Trustee is now winding down the estate by collecting receivables, evaluating a sale of remaining custom packaging inventory, and reviewing intercompany balances and lender security.
- report date2 February 2023
- report noInforme de la Administración Preliminar de la Masa Concursal de Lakeside Produce Inc. por parte del Fiduciario