Manitoba · Receivership (court-appointed)
Third report of the receiver
Court officer report · 6 November 2020
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 filing15 verified
- applicantCWB MAXIUM FINANCIAL INC.
- courtTHE QUEEN'S BENCH
- court file noCI 18-01-18373
- appointeeMNP Ltd.
- appointee rolereceiver and manager
- commencement date20 December 2018
- statutory basissection 243 of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, as amended, and section 55 of The Court of Queen's Bench Act, C.C.S.M. c. C280
- unsecured creditorsnote: Non-deemed trust portion of CRA's claim for unremitted source deductions against 693; subordinated to unsecured claims under BIA scheme of distribution except for deemed trust portion · page: 6 · basis: CRA claim for unremitted source deductions (non-deemed trust portion) · amount: 250349.43 · debtor: 693 (6934235 Manitoba Ltd.) · creditor: Canada Revenue Agency · currency: CAD
- unsecured creditorsnote: Deemed trust portion of CRA's claim for unremitted source deductions; ranks in priority to secured creditors as against 693; original filed amount was $25,202.17, later amended to $33,114.99 · page: 6 · as of: 2020-03-09 · basis: CRA proof of claim against the bankruptcy estate (amended) · amount: 33114.99 · debtor: 693 (6934235 Manitoba Ltd.) · creditor: Canada Revenue Agency · currency: CAD
- unsecured creditorsnote: Deemed trust portion of $6,434.18 within this total (no change from Second Report); a related later paragraph refers to a $7,163.55 / $7,133.65 figure for the same claim against 745 (apparent minor discrepancies in the document) · page: 7 · basis: CRA claim - source deduction arrears (total arrears liability) · amount: 7091.55 · debtor: 745 (7451190 Manitoba Ltd.) · creditor: Canada Revenue Agency · currency: CAD
- unsecured creditorsnote: Deemed trust portion of CRA's claim against 745; ranks in priority to secured creditors as against 745 (also stated elsewhere as $7,163.55 for the total claim) · page: 7 · basis: CRA deemed trust portion of source deduction claim · amount: 6434.18 · debtor: 745 (7451190 Manitoba Ltd.) · creditor: Canada Revenue Agency · currency: CAD
- secured creditorsnote: Amount is a floor: 'secured claim of CWB Maxium, which exceeds $2,150,000'; shortfall on secured claim described elsewhere as 'in the range of $2,000,000' · page: 12 · as of: as reported in Third Report · amount: 2150000 · debtor: 693 (6934235 Manitoba Ltd.) and 745 (7451190 Manitoba Ltd.) · creditor: CWB Maxium Financial Inc. · currency: CAD · security: 1st priority security position against all Property of the Companies, except 2nd to McKesson on inventory of 745 and 693 (subordination and postponement agreements)
- secured creditorsnote: No realizations produced by assets of 708 to date; amount not stated · page: 12 · debtor: 708 (7085797 Manitoba Inc.) · creditor: Hanley Holdings Inc. · currency: CAD · security: 2nd security position to CWB Maxium against the shares of Clearview Addiction Rehabilitation Institute Inc. owned by 708
- secured creditorsnote: Confirmation received from Kohl that no amount is owing by 693; not applicable · page: 12 · amount: 0 · debtor: 693 (6934235 Manitoba Ltd.) · creditor: Kohl & Frisch Limited · currency: CAD
- secured creditorsnote: Amount is a floor: 'secured claim of McKesson which exceeds $330,000'; separate post-receivership account dispute resolved for $80,000 (unrelated to this secured claim) · page: 13 · as of: as reported in Third Report · amount: 330000 · debtor: 745 (7451190 Manitoba Ltd.) and 693 (6934235 Manitoba Ltd.) · creditor: McKesson Canada Corporation · currency: CAD · security: 1st priority security position against inventory of 745 and 693; 2nd priority to CWB Maxium against all other Property of 745 and 693