British Columbia · Bankruptcy
Trustee's Preliminary Report to Creditors
Court officer report · 19 September 2024
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What we verified from this filing18 verified
- appointeeMNP Ltd.
- appointee roleLicensed Insolvency Trustee
- commencement date9 September 2024
- courtIN THE SUPREME COURT OF BRITISH COLUMBIA
- court file no11-3125800
- proceeding typebia_bankruptcy
- statutory basisthe provisions of the Bankruptcy and Insolvency Act
- financial positionnote: Other Property valued at $1.00, being residual funds from Receivership; Trustee does not expect any assets available for unsecured creditors after payment of priority and secured claims. Comparative table shows Statement of Affairs totals (secured $2,921,983.29, preferred nil, unsecured $7.00, total $2,921,990.29) versus Filed proofs of claim (secured $4,531,679.78, preferred nil, unsecured $80,482.09, total $185,737.54) - these are reported components, not summed by extractor. · page: 2 · basis: Statement of Affairs filed in the bankruptcy · scope: Absolute Auto Ltd. (single entity, bankrupt estate) · currency: CAD · total assets: 1
- secured creditorsnote: Trustee in process of corresponding with this party regarding claim; amount not yet confirmed · page: 2 · debtor: Absolute Auto Ltd. · creditor: Color Compass Corporation · currency: CAD · security: Registered security interest per BC PPR search
- secured creditorsnote: Trustee in process of corresponding with this party regarding claim; amount not yet confirmed · page: 2 · debtor: Absolute Auto Ltd. · creditor: 9859870 Canada Inc. · currency: CAD · security: Registered security interest per BC PPR search
- secured creditorsnote: Trustee in process of corresponding with this party regarding claim; amount not yet confirmed · page: 2 · debtor: Absolute Auto Ltd. · creditor: RCAP Leasing Inc. · currency: CAD · security: Registered security interest per BC PPR search
- secured creditorsnote: Trustee in process of corresponding with this party regarding claim; amount not yet confirmed · page: 2 · debtor: Absolute Auto Ltd. · creditor: TD Auto Finance Services Inc. · currency: CAD · security: Registered security interest per BC PPR search
- secured creditorsnote: Trustee in process of corresponding with this party regarding claim; amount not yet confirmed · page: 2 · debtor: Absolute Auto Ltd. · creditor: Fraser City Motors Ltd. · currency: CAD · security: Registered security interest per BC PPR search
- secured creditorsnote: Trustee in process of corresponding with this party regarding claim; amount not yet confirmed; RBC agreed bankruptcy administration costs paid in priority to its security · page: 2 · debtor: Absolute Auto Ltd. · creditor: Royal Bank of Canada (RBC) · currency: CAD · security: Registered security interest per BC PPR search
- secured creditorsnote: Deemed trust claim; ranks in priority to claims of all other creditors; Trustee to confirm amount with CRA; unremitted GST/HST would rank as unsecured, not this claim · page: 2 · amount: 105955.45 · debtor: Absolute Auto Ltd. · creditor: Canada Revenue Agency (CRA) · currency: CAD · security: Deemed trust claim - unremitted payroll source deductions
- secured creditorsnote: Estimated secured claim processed through Wage Earner Protection Program · page: 3 · amount: 2000 · debtor: Absolute Auto Ltd. · creditor: Wage earner (WEPP-processed claim, one employee) · currency: CAD · security: Statutory security under s.81.3(1) BIA over current assets, capped at $2,000 per employee
- unsecured creditorsnote: Document names no individual unsecured creditors; separately, only $80,482.09 in unsecured proofs of claim had been filed as of date of report (two proofs of claim filed total) · page: 3 · as of: Statement of Affairs filed · basis: Statement of Affairs as reported · amount: 2921982.29 · debtor: Absolute Auto Ltd. · creditor: Unsecured creditors (aggregate as reported in Statement of Affairs) · currency: CAD
- provinceBritish Columbia