Alberta · Receivership (court-appointed)
Second report of the receiver
Court officer report · 8 November 2017
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What we verified from this filing14 verified · 1 withheld
- applicant1951584 ONTARIO INC. dba MAXIUM FINANCIAL
- appointeeMNP Ltd.
- appointee roleReceiver
- commencement date16 November 2016
- courtCOURT OF QUEEN'S BENCH OF ALBERTA
- court file no1602 18117
- proceeding typereceivership_court
- cash on handnote: Balance in Receiver's Trust Account per Final Statement of Receipts and Disbursements · as at: 2017-11-06 · amount: 585795.58 · currency: CAD
- operational summaryThe Receiver completed the en-bloc sale of Northern Bear's assets, terminated employees, assigned Northern Bear into bankruptcy, and is now proposing a final distribution and its own discharge.
- professional feesnote: Total fees and disbursements before deducting interim billings; net fees and disbursements owing $11,904.00; legal fees of Receiver's counsel reported separately · party: Receiver, MNP Ltd. · amount: 82288.95 · period: October 17, 2016 to November 9, 2017 · currency: CAD
- receipts cumulativesince: November 17, 2016 · amount: 4295247.44 · currency: CAD
- recovery outcomeentries: basis: actual · quote: $225,761.47 to Golf Lease Inc.; · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · amount low: 225761.47 · amount high: 225761.47 · class label: Golf Lease Inc. · creditor name: Golf Lease Inc. · interim final: unstated · claims qualifier: unstated; basis: actual · quote: Based upon the Proposed Final Distribution and assignment of remaining asset Maxium will result with a shortfall of approximately $769,000 ($1.5 million - $560,000 - $171,000). · pct of: unstated · outcome: shortfall · class key: secured · stated by: receiver · class label: Maxium · creditor name: Maxium · interim final: final · claims qualifier: unstated · shortfall amount: 769000; basis: actual · quote: $979.17 to Service Canada · pct of: unstated · outcome: distribution · class key: preferred · stated by: receiver · amount low: 979.17 · amount high: 979.17 · class label: Service Canada · creditor name: Service Canada · interim final: unstated · claims qualifier: unstated; basis: actual · quote: Upon completion of CRA's trust exam of the payroll source deduction account a priority claim of $17,323.99 was determined for pre-receivership periods. · pct of: unstated · outcome: distribution · class key: deemed_trust · stated by: receiver · amount low: 17323.99 · amount high: 17323.99 · class label: CRA (priority claim, payroll source deduction) · creditor name: CRA · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: The Receiver proposes to distribute the balance of funds in the estate of approximately $560,000 (net of final professional fees) to Maxium. · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · amount low: 560000 · amount high: 560000 · class label: Maxium (proposed final distribution) · creditor name: Maxium · interim final: final · claims qualifier: unstated · stated on: 2017-11-08 · table missing:
- report date8 November 2017
- report noSecond Report
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.