British Columbia · Bankruptcy
Trustee's Preliminary Report to Creditors
Court officer report · 20 February 2024
A plain-language read of this filing opens with a subscription.
What we verified from this filing14 verified
- appointeeMNP Ltd.
- commencement date31 January 2024
- courtIN THE SUPREME COURT OF BRITISH COLUMBIA
- court file no11-3037812
- proceeding typebia_bankruptcy
- statutory basisBankruptcy and Insolvency Act
- statutory basisBankruptcy and Insolvency Act
- appointee roleLicensed Insolvency Trustee
- unsecured creditorsnote: Document names no individual creditors; proofs of claim filed for unsecured claims total $438,725.06 as of date of report (48 total proofs of claim filed representing $971,682.88 across all classes) · page: 2 · as of: Statement of Affairs · basis: Statement of Affairs as reported · amount: 3572212.99 · debtor: Local Leader Inc. · creditor: Unsecured creditors (aggregate as reported - Statement of Affairs) · currency: CAD
- secured creditorsnote: Timia also filed an unsecured claim of $150,000 (bifurcated secured/unsecured); Statement of Affairs vs. claims filed totals for secured creditors differ ($101,000.00 SOA vs $532,957.82 claims filed) - see financial_position note · page: 3 · as of: proof of claim filed · amount: 520000 · debtor: Local Leader Inc. · creditor: Timia Capital Holdings Limited Partnership · currency: CAD · security: General security agreement over all present personal property
- secured creditorsnote: Deemed trust claim; no proof of claim received to date; Trustee does not expect a material balance owing; ranks in priority to all other creditors · page: 3 · debtor: Local Leader Inc. · creditor: Canada Revenue Agency (CRA) · currency: CAD · security: Deemed trust claim for unremitted payroll source deductions
- secured creditorsnote: Ten employees qualified under WEPP for unpaid wages, vacation pay and termination pay; estimated priority claim · page: 3 · amount: 12956 · debtor: Local Leader Inc. · creditor: Employees (Wage Earners - WEPP claimants) · currency: CAD · security: Statutory security under s.81.3(1) BIA over Company's assets (Other Property), limited to $2,000 per employee
- unsecured creditorsnote: Unsecured portion of bifurcated claim; secured portion of $520,000 also filed · page: 3 · as of: proof of claim filed · basis: Proof of claim filed · amount: 150000 · debtor: Local Leader Inc. · creditor: Timia Capital Holdings Limited Partnership · currency: CAD
- provinceBritish Columbia