Ontario · Bankruptcy
Trustee's Preliminary Report
Court officer report · 29 March 2010
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What we verified from this filing12 verified
- appointeeMeyers Norris Penny Limited
- appointee roleTrustee
- commencement date17 March 2010
- court file no31-1334353
- provinceOntario
- statutory basisBankruptcy and Insolvency Act (Canada)
- cash on handnote: Deposited from cash on hand at the stores and the Company's bank account into the estate bank account. · amount: 23000 · currency: CAD · qualifier: approximately
- financial positionnote: Total liabilities figure is from the Statement of Affairs claims summary (Secured $734,908.00, Preferred $47,636.69, Unsecured $377,067.78); claims filed to date total only $314,059.14. Asset components stated but not totaled: inventory at ticked retail approximately $595,000, cash deposited to estate account approximately $23,000. · basis: Statement of Affairs (unaudited, prepared from Company's books and records not reviewed or audited by the Trustee) · scope: entity - 1186222 Ontario Inc. o/a Holly's and Ann Stuart · currency: CAD · total liabilities: 1159612.47
- operational summaryFollowing the bankruptcy, the Trustee took possession of all five retail locations, consolidated inventory into two stores, retained a liquidator to conduct a going-out-of-business sale, and advertised the Company's retail leases for sale.
- receipts cumulativenote: Sales generated from the liquidation sale of inventory, figure given as of March 25, 2010. · amount: 58000 · currency: CAD
- recovery outcomeentries: basis: estimated · quote: It is unlikely that there will be any funds available for the unsecured creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated · stated on: 2010-03-29 · table missing:
- report date29 March 2010