British Columbia · Bankruptcy
Trustee’s Preliminary Report
Court officer report · 14 May 2024
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What we verified from this filing9 verified
- appointeeB. Riley Farber Inc.
- appointee roleLicensed Insolvency Trustee
- commencement date24 April 2024
- proceeding typebia_bankruptcy
- provinceBRITISH COLUMBIA
- financial positionnote: Realizable assets per SOA: 100% interest in MM CAN USA, Inc. valued at $1.00 (estimated realizable value), being the sole listed asset. Provable claims table shows two bases: 'Per Statement of Affairs' (Secured $1.00, Unsecured $561,543,982.24, Contingent $10.00, Total $561,543,993.24) versus 'Filed with Trustee' (Secured $2,845,528.08, Unsecured $15,699,326.69, Total $18,544,854.77); USD claims converted at $1.37 CAD/USD. · as at: 2024-04-24 · basis: Statement of Affairs prepared from Company's books and records, not audited by the Trustee · scope: MedMen Enterprises Inc. (the bankrupt entity) only · currency: CAD · total assets: 1 · total liabilities: 561543993.24
- operational summaryMedMen had no employees at the date of bankruptcy, its wholly-owned US subsidiary was placed into receivership in California, and the Trustee did not take possession of the Company's assets as they were wholly encumbered.
- recovery outcomeentries: basis: unstated · quote: Accordingly, no funds will be available for distribution to preferred or unsecured creditors. · pct of: unstated · outcome: nil · class key: preferred · stated by: trustee · class label: preferred creditors · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: Accordingly, no funds will be available for distribution to preferred or unsecured creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated · table missing:
- report date14 May 2024