Quebec · Bankruptcy
Trustee’s Preliminary Report to Creditors
Court officer report · 1 May 2014
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What we verified from this filing14 verified
- courtS U P E R I O R C O U R T
- court file no500-11-046561-144
- proceeding typebia_bankruptcy
- provinceQUEBEC
- statutory basisThe Bankruptcy and Insolvency Act, a federal act in Canada
- commencement date10 April 2014
- appointeeSamson Bélair/Deloitte & Touche Inc.
- appointee roleTrustee
- cash on handnote: Cash balances are based on the bank account balances as per the most recent bank statements available as of April 8, 2014. · as at: 2014-04-08 · amount: 2445537 · currency: CAD
- financial positionnote: Parking space value listed as 'TBD' and excluded from the reported asset total; deficit before costs of administration reported as (8,377,439). · as at: 2014-04-08 · basis: Statement of Affairs (unaudited) · scope: entity - Castello Development Ltd. · currency: CAD · total assets: 2445537 · total liabilities: 10822976
- operational summaryCastello's condominium project has been fully sold, its bank accounts closed and funds transferred to the Trustee; the company no longer has any operations and has filed an assignment in bankruptcy.
- recovery outcomeentries: basis: estimated · quote: The Trustee estimates that the proceeds which will be realized from the liquidation of Castello's assets (totaling $2.4M as per the Statement of Affairs) could result in a dividend ranging from approximately 22 to 26 cents on the dollar to the unsecured creditors. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: trustee · class label: unsecured creditors · interim final: unstated · conditional on: The amount of the final dividend to the unsecured creditors will depend namely on the total amount of claims that will be proven by creditors before the dividend distribution and on the costs of administration of the estate. · claims qualifier: unstated · stated on: 2014-05-01 · table missing:
- report date1 May 2014
- report noTrustee's Preliminary Report to Creditors