New Brunswick · Receivership (court-appointed)
First Report of the Proposed Court Appointed Receiver Deloitte Restructuring
Pre-filing report · 15 November 2024
A plain-language read of this filing opens with a subscription.
What we verified from this filing5 verified
- secured creditorsnote: Balance owing not stated in these pages; RBC issued s.244(1) BIA / PPSA demands Nov 28, 2023 and forbearance agreement signed Jan 12, 2024; RBC separately advanced $52,000 to fund the Private Receivership (interim funding, not the underlying secured debt) · page: 6 · debtor: D&P Gooder Holding Ltd., Ifoodequipment.com Inc., iBC Food Equipment, Inc. · creditor: Royal Bank of Canada (RBC) · currency: CAD · security: Security interests over all assets, collateral and undertakings of the Ifood Group (blanket, pursuant to which private receiver appointed Sept 26, 2024); 170 Millennium Boulevard (DPG) specifically encumbered by RBC
- secured creditorsnote: Not part of the Private Receivership; BDC intends to pursue its own realization strategy outside the proposed SISP; amount not stated · page: 6 · debtor: D&P Gooder Holding Ltd. · creditor: Business Development Bank of Canada (BDC) · currency: CAD · security: Charge over 166 Millennium Boulevard property
- secured creditorsnote: Indebtedness for excise tax amounts, referred to as a 'Priority Charge'; deemed-trust/quasi-governmental class; amount not stated · page: 12 · debtor: Ifoodequipment.com Inc. and iBC Food Equipment, Inc. · creditor: Canada Revenue Agency · currency: CAD
- secured creditorsnote: Property tax arrears owing, referred to as a 'Priority Charge'; amount not stated · page: 12 · debtor: D&P Gooder Holding Ltd. · creditor: Municipality (property tax authority) · currency: CAD · security: Statutory property tax lien
- financial positionnote: Stated as 'aggregate amount exceeding $7,000,000 comprising secured, preferred and unsecured creditors' (floor, per word 'exceeding'); no total assets figure stated in these pages · page: 13 · basis: Proposed Receiver's understanding based on unaudited, draft and/or internal financial information · scope: Consolidated - Ifood Group entities (D&P Gooder Holding Ltd., Ifoodequipment.com Inc., iBC Food Equipment, Inc.) · currency: CAD · total liabilities: 7000000