Ontario · Bankruptcy
Trustee’s Preliminary Report
Court officer report · 3 October 2008
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What we verified from this filing10 verified
- appointeeA. Farber & Partners Inc.
- appointee roleTrustee in Bankruptcy
- commencement date15 September 2008
- court file no31-1108810
- financial positionnote: Assets figure includes 'Unknown' value for 50% interest in Groupe Popcorn Inc., so total assets may be understated. Liabilities total combines Secured ($3.00), Preferred ($21,185.30), Unsecured ($4,120,211.82), and Contingent ($250,000.00) per Statement of Affairs, as stated in the document (not independently computed). · page: 1 · basis: Estimated to Realize (assets, per Statement of Affairs); claims per Statement of Affairs (liabilities) · scope: Ad Express Canada Inc./Publicité Ad Express Canada Inc. (single entity, bankruptcy estate) · currency: CAD · total assets: 3786000 · total liabilities: 4391400.12
- proceeding typebia_bankruptcy
- secured creditorsnote: Assets securing these claims are leased, not owned by the Company, so not included in Estate assets; values are nominal/arbitrary, not real balances · page: 2 · as of: Statement of Affairs · amount: 3 · debtor: Ad Express Canada Inc./Publicité Ad Express Canada Inc. · creditor: Three creditors holding security over specific leased assets (unnamed) · currency: CAD · security: Security over specific assets leased by the Company (not owned by Ad Express); arbitrary value of $1.00 attributed to each of the three claims to classify them as secured
- unsecured creditorsnote: Preferred claim class per BIA (ranks ahead of ordinary unsecured); no filed amount reported for this class as of October 2, 2008 ($0.00 filed with Trustee); document names no individual creditors · page: 2 · as of: Statement of Affairs · basis: Per Statement of Affairs · amount: 21185.3 · debtor: Ad Express Canada Inc./Publicité Ad Express Canada Inc. · creditor: Preferred creditors (aggregate as reported) · currency: CAD
- unsecured creditorsnote: Contingent claim class; no amount filed with Trustee as of October 2, 2008; document names no individual creditors · page: 2 · as of: Statement of Affairs · basis: Per Statement of Affairs · amount: 250000 · debtor: Ad Express Canada Inc./Publicité Ad Express Canada Inc. · creditor: Contingent creditors (aggregate as reported) · currency: CAD
- unsecured creditorsnote: Document names no individual unsecured creditors. Includes an unsecured claim of $900,000 for 'Unallocated Payables' representing management's estimate of liabilities not yet allocated. Proofs of claim filed with Trustee as of October 2, 2008 totaled $3,988,584.00 for unsecured claims (different, lower figure). · page: 2 · as of: Statement of Affairs · basis: Per Statement of Affairs · amount: 4120211.82 · debtor: Ad Express Canada Inc./Publicité Ad Express Canada Inc. · creditor: Unsecured creditors (aggregate as reported) · currency: CAD