Alberta · Receivership (court-appointed)

First Report of the Receiver

Court officer report · 29 July 2016

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 filing3 verified

secured creditorsnote: Per Affidavit of Mark Kupka filed July 14, 2016 in support of receivership application; secured lender expected to be undersecured and is primary economic stakeholder · page: 6 · as of: 2016-07-12 · amount: 40070587.13 · debtor: NFC Group (Northern Frontier Corp., Northern Frontier GP Corp., Northern Frontier Facilities LP, Northern Frontier Civil LP, Northern Frontier Assets LP, Aventur Mechanical GP Ltd. and Aventur Mechanical LP) · creditor: Bank of Montreal and Alberta Treasury Branches (collectively the "Secured Lender") · currency: CAD · security: Numerous credit agreements and guarantees; plus additional amounts owing under a credit card facility, up to a maximum amount of $1,000,000
unsecured creditorsnote: Document names no individual creditors · page: 6 · as of: 2016-06-30 · basis: Reported by the Receiver based on the Company's books and records · amount: 4641197.08 · debtor: NFC Group (the Company) · creditor: Unsecured creditors (aggregate as reported), including trade creditors · currency: CAD
unsecured creditorsnote: preferred claim under BIA s.81.4 (limited priority wage arrears) · page: 8 · as of: estimate as at date of Receivership · basis: Receiver's estimate/analysis of potential Section 81.4 Claims · amount: 57400 · debtor: NFC Group · creditor: Employees - Section 81.4 BIA wage arrears claims · currency: CAD