Newfoundland and Labrador · Bankruptcy
Trustee's Report on Preliminary Administration
Court officer report · 28 April 2017
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 filing9 verified
- commencement date28 March 2017
- courtDISTRICT OF NEWFOUNDLAND AND LABRADOR
- court file no21222
- statutory basissection 50.4(1) of the Bankruptcy and Insolvency Act
- appointeeMNP Ltd.
- appointee roleTrustee
- financial positionnote: Assets listed by category only, no total given: Accounts receivable $18,992; Building and land $8,169,900 (estimated realization value as of the date of bankruptcy). Liabilities per Statement of Affairs: Secured creditors $7,220,412; Unsecured creditors $7,459,177 (no total stated). · basis: Estimated realization value (as of the date of bankruptcy); provable claims per Statement of Affairs · scope: entity-level - 10804 Newfoundland Ltd. (the bankrupt estate) · currency: CAD
- operational summaryThe Company, a land development and excavation/construction business, ceased operations and entered bankruptcy after an unsuccessful proposal process; the Trustee is now running a public sale process for the Company's real estate holdings.
- report date28 April 2017