Alberta · Bankruptcy
Trustee's Third Court Report
Court officer report · 24 June 2016
A plain-language read of this filing opens with a subscription.
What we verified from this filing4 verified
- courtCOURT OF QUEEN'S BENCH OF ALBERTA
- court file no25-1890619, 25-1890623
- commencement date15 July 2014
- recovery outcomeentries: basis: actual · quote: 34.1 Four unsecured creditor claims totalling approximately $23,000 which have been paid by the Trustee, with the approval of the Inspectors, net of the Levy; and · pct of: unstated · outcome: paid_in_full · class key: unsecured · stated by: trustee · class label: unsecured creditors (TEC) · claims amount: 23000 · interim final: unstated · claims qualifier: listed; basis: actual · quote: 33.3 One claim filed by BMG for outstanding management fees for approximately $30,000 that was disallowed in full by the Trustee as no supporting backup was provided and the Trustee had calculated that management fees were overcharged for approximately the same amount during 2013 and 2014. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: BMG management fee claim (TMIC) · claims amount: 30000 · creditor name: BMG Financial Services Corp. · interim final: unstated · claims qualifier: listed; basis: actual · quote: 34.2 Four claims filed by the Fox Group as against TEC totalling approximately $272,000 (the 'Fox TEC Claims'). The Fox TEC Claims were disallowed by the Trustee and, as the time period for appealing the disallowance has expired, the claims have been expunged. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: Fox TEC Claims · claims amount: 272000 · creditor name: Fox Group · interim final: unstated · claims qualifier: listed; basis: estimated · quote: The Trustee has prepared a preliminary estimate of the potential funds that could be distributed to the Shareholders, assuming the Claims Process is approved by the Court, and has estimated that the Shareholders may realize a return on their shares ranging from 15% to 30%. · pct of: unstated · outcome: distribution · pct low: 15 · pct high: 30 · class key: equity · stated by: trustee · class label: Shareholders (TMIC) · interim final: unstated · conditional on: This estimate, however, is subject to several assumptions about the values of the Remaining Assets, timing of the realizations and the costs to complete the sales and overall administration, and the final proven and approved value of the Shareholder claims. · claims qualifier: unstated; basis: estimated · quote: The Trustee does not expect any recovery on the Saskatchewan Mortgage. · pct of: unstated · outcome: nil · class key: secured · stated by: trustee · class label: Saskatchewan Mortgage · interim final: unstated · claims qualifier: unstated · stated on: 2016-06-24 · table missing: