Ontario · Bankruptcy
Trustee’s Preliminary Report
Court officer report · 9 February 2024
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What we verified from this filing10 verified
- appointeeB. Riley Farber Inc.
- appointee roleLicensed Trustee of the bankruptcy estate
- commencement date18 January 2024
- financial positionnote: Assets as at date of bankruptcy: Cash $9,754, Railway Equipment $650,000, Insurance Receivable $200,000, Total $859,754 (estimates only, actual realizations may differ). Liabilities total per Statement of Affairs $2,071,632.87 (secured $640,833.59, preferred $1.00, unsecured $1,430,798.28, contingent nil); total per amounts filed with Trustee $1,723,338.73. · page: 1 · basis: Statement of Affairs; assets are estimated realizable values per Trustee, unaudited books and records · scope: entity - York-Durham Heritage Railway Association · currency: CAD · total assets: 859754 · total liabilities: 2071632.87
- proceeding typebia_bankruptcy
- provinceOntario
- secured creditorsnote: Deemed Trust Claim for payroll source deductions; ranks in priority to Secured Creditors; figure subject to change · page: 2 · as of: 2024-01-29 · amount: 304468 · debtor: York-Durham Heritage Railway Association · creditor: Canada Revenue Agency · currency: CAD
- secured creditorsnote: Per Statement of Affairs; $606,065.67 filed with Trustee as of report date. Security opinion as to validity not yet commissioned by Trustee due to limited funding. Deemed Trust Claim (CRA) ranks in priority to these Secured Creditors. · page: 2 · as of: date of bankruptcy · amount: 640833.59 · debtor: York-Durham Heritage Railway Association · creditor: American Heritage Railways, Inc. and Rail Events, Inc. · currency: CAD · security: PPSA registered security interests in railway equipment (locomotives, coaches, cars, cabooses, and other rolling stock)
- unsecured creditorsnote: Preferred class per BIA priority; $1,200.00 filed with Trustee as of report date; document names no individual creditors; Trustee still determining amounts owed to employees under WEPPA/s.81(3) BIA · page: 2 · as of: date of bankruptcy · basis: Per Statement of Affairs · amount: 1 · debtor: York-Durham Heritage Railway Association · creditor: Preferred claims (aggregate as reported) · currency: CAD
- unsecured creditorsnote: $1,116,073.06 filed with Trustee as of report date; document names no individual creditors; contingent claims reported as nil (-) · page: 2 · as of: date of bankruptcy · basis: Per Statement of Affairs · amount: 1430798.28 · debtor: York-Durham Heritage Railway Association · creditor: Unsecured creditors (aggregate as reported) · currency: CAD