Alberta · Bankruptcy
Fourth Report of the Trustee
Court officer report · 11 June 2015
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 filing8 verified
- cash on handnote: Statement shows excess of receipts over disbursements represented by cash in bank of $2,211,973; report text says approximately $2.2 million is held in trust for the PLG Group. · as at: 2015-06-10 · amount: 2211973 · currency: CAD · qualifier: approximately $2.2 million held in trust
- disbursementsnote: Total disbursements per the statement; the report text describes this as approximately $1.2 million. Excludes accruals of $150,055 for invoiced but unpaid fees and a $140,000 holdback for professional fees. · since: date of bankruptcy (October 2013), through June 10, 2015 · amount: 1217438 · currency: CAD
- operational summaryThe PLG Group's estates are being administered on a consolidated basis in bankruptcy; the assets were liquidated at auction and the Trustee is now settling builders' lien accounts receivable and proposing distributions to CRA and HRDC priority claimants.
- professional feesnote: Net of GST. Trustee's legal counsel Field LLP was paid approximately $277,020 (period ended September 2, 2014) and Wilson Laycraft LLP $10,366 (period ended July 14, 2014), both net of GST; the statement of receipts and disbursements shows combined legal fees and disbursements of $287,386. All invoices were approved by the estate inspectors. · party: Trustee (Deloitte Restructuring Inc.) · amount: 588159 · period: period ended September 25, 2014 · currency: CAD
- receipts cumulativenote: Total receipts per the Consolidated Interim Statement of Receipts and Disbursements; the report text describes this as approximately $3.4 million. · since: date of bankruptcy (October 2013), through June 10, 2015 · amount: 3429411 · currency: CAD
- recovery outcomeentries: basis: estimated · quote: | Con-Forte | 828,871 $ | 828,871 $ | · pct of: unstated · outcome: paid_in_full · class key: deemed_trust · stated by: trustee · amount low: 828871 · amount high: 828871 · class label: Canada Revenue Agency - Deemed Trust (Payroll) Claims (Con-Forte) · claims amount: 828871 · creditor name: Canada Revenue Agency · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: HRDC will be paid in full from Con-Forte, Asty and PLG Residential. · pct of: unstated · outcome: paid_in_full · class key: weppa · stated by: trustee · class label: HRDC WEPP Claims (Con-Forte, Asty, PLG Residential) · creditor name: HRDC · interim final: unstated · claims qualifier: unstated · stated on: 2015-06-11 · table missing:
- report date11 June 2015
- report noFourth Report