Alberta · Receivership (court-appointed)
Home Improvement Warehouse Receivers Final Report October 18 2023
Court officer report · 18 October 2023
What we verified from this filing12 verified
- appointeeHudson & Company Insolvency Trustees Inc.
- appointee roleReceiver
- commencement date4 December 2019
- cash on handas at: 2023-10-18 · amount: 70407 · currency: CAD · qualifier: approximately
- disbursementssince: December 4, 2019 (date of receivership) · amount: 561082.82 · currency: CAD
- financial positionnote: Components only, no total stated: inventory (book cost) $1,248,580; equipment and vehicles $130,251; receivables $4,607; bank account ~$30,000 (after $25,000 retainer to Hudson); shares in Castle Building Centres $36,000. Liabilities: $575,000 owed to 169; $325,000 owed to MLD; ~$1,211,000 owed to Castle (postponed security); $18,520.70 owed to CRA for unremitted source deductions (paid). · as at: 2019-12-04 · basis: book value (assets valued on the books of the Company) · scope: entity - The Home Improvement Warehouse Ltd. · currency: CAD
- operational summaryThe Receiver conducted an onsite liquidation sale followed by an auction to realize the Company's remaining inventory and equipment, and the Company was assigned into bankruptcy to protect against landlord enforcement; the receivership is now concluding with only final distributions and fee payments remaining.
- professional feesnote: Includes GST and all un-invoiced work in progress and anticipated amounts. Legal counsel's fees separately total approximately $17,300 (including GST). · party: Receiver (Hudson & Company Insolvency Trustees Inc.) · amount: 80612 · period: duration of the receivership administration · currency: CAD
- receipts cumulativesince: December 4, 2019 (date of receivership) · amount: 1381490.25 · currency: CAD
- recovery outcomeentries: basis: unstated · quote: The Receiver also intends to remit the remaining balance os t t t s ed from the assets of the Company to pay the first priority secured creditor,169, in full. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: receiver · class label: 169 (first priority secured creditor) · creditor name: 1698420 Alberta Ltd. · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: There are no funds available for payment of Castle or any other secured or unsecured creditors following payment of the disbursements noted in the Final Statement of Receipts and Disbursements. · pct of: unstated · outcome: nil · class key: unsecured · stated by: receiver · class label: Castle or any other secured or unsecured creditors · interim final: final · claims qualifier: unstated · stated on: 2023-10-18 · table missing:
- report date18 October 2023
- report noReceiver's Final Report