British Columbia · Bankruptcy
Trustee's Preliminary Report to Creditors
Court officer report · 8 October 2021
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What we verified from this filing8 verified
- proceeding typebia_bankruptcy
- statutory basisBankruptcy and Insolvency Act
- financial positionnote: Trustee notes reasonable expectation of no net realizations from well sites; net realizations from equipment may not be material after costs; condition of equipment unknown · page: 2 · basis: Statement of Affairs filed in the bankruptcy; equipment value based on management's best estimate for recoverable value · scope: Alcan Fluid Disposal Ltd. (single entity) · currency: CAD · total assets: 466462
- secured creditorsnote: Estimated ARO costs, actual amount unknown at this time; regulatory quasi-debt; priority over Oil & Gas Commission Well Deposit ($416,462) and possibly over equipment · page: 4 · as of: date of this report · amount: 550000 · debtor: Alcan Fluid Disposal Ltd. · creditor: BC Oil and Gas Commission (BCOGC) · currency: CAD · security: Priority claim over well site deposit/assets for abandonment and reclamation obligations (ARO)
- secured creditorsnote: Related party - shareholders/directors of Alcan; shareholder loan · page: 4 · as of: date of this report · amount: 710381 · debtor: Alcan Fluid Disposal Ltd. · creditor: Ron Baker and Karen Baker · currency: CAD · security: Secured charge over all Company's assets and property, registered in the Personal Property Registry of British Columbia on December 23, 2016
- secured creditorsnote: Related party - related to Alcan by way of common control · page: 4 · as of: date of this report · amount: 1174240 · debtor: Alcan Fluid Disposal Ltd. · creditor: Altec Inspection Holdings Ltd. · currency: CAD · security: Secured charge over all Company's assets and property, registered in the Personal Property Registry of British Columbia on December 23, 2016
- unsecured creditorsnote: Includes the estimated deficiency claims of secured creditors; document names no individual unsecured creditors; four proofs of claim filed totaling approximately $1,899,000 in total creditor claims as of date of report, with no significant differences noted between Statement of Affairs claims and claims filed to date · page: 4 · as of: Statement of Affairs filed in the bankruptcy · basis: Statement of Affairs as reported · amount: 2128058 · debtor: Alcan Fluid Disposal Ltd. · creditor: Unsecured creditors (aggregate as reported) · currency: CAD
- recovery outcomeentries: basis: unstated · quote: The Company's internal financial information indicates that the amount owing to the Altec Inspection Holdings Ltd. is $1,174,240. · pct of: unstated · outcome: undetermined · class key: secured · stated by: trustee · class label: Altec Inspection Holdings Ltd. · claims amount: 1174240 · creditor name: Altec Inspection Holdings Ltd. · interim final: unstated · claims qualifier: unstated · table missing: