Ontario · NOI
First report of the proposal trustee october 21 2015
Court officer report · 21 October 2015
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What we verified from this filing11 verified
- appointeeMNP Ltd.
- appointee roleproposal trustee
- courtSUPERIOR COURT OF JUSTICE COMMERCIAL LIST
- court file no31-2047972
- provinceONTARIO
- commencement date19 October 2015
- statutory basisSection 50.4(1) of the Bankruptcy and Insolvency Act (Canada)
- financial positionnote: Figure represents total claims of BGI's known creditors (secured, unsecured noteholders and other unsecured) per the Creditors List; not an audited or verified total. Also noted: intercompany debt of USD$116,860,308 owed by Subsidiaries to BGI as at June 30, 2015 (an asset component, not a total). · as at: 2015-09-30 · basis: Creditors List compiled from BGI's known creditors as at September 30, 2015; approximate figure · scope: entity - Besra Gold Inc. (BGI) only, excluding its Subsidiaries · currency: CAD · total liabilities: 59000000
- operational summaryBGI is a holding company facing an immediate liquidity crisis with no ability to fund its own operations or those of its operating subsidiaries absent DIP financing, while its Vietnamese and Malaysian mining subsidiaries continue to operate in the normal course outside these proceedings.
- report date21 October 2015
- report noFirst Report