British Columbia · Receivership (court-appointed)
First Report of the Receiver (Oct 20, 2023)
Court officer report · 20 October 2023
A plain-language read of this filing opens with a subscription.
What we verified from this filing1 verified
- recovery outcomeentries: basis: estimated · quote: The secured creditors, BDC and RBC will suffer a shortfall on their loans. · pct of: unstated · outcome: shortfall · currency: CAD · class key: secured · stated by: receiver · class label: Business Development Bank of Canada · claims amount: 752000 · creditor name: Business Development Bank of Canada · interim final: unstated · currency quote: All references to dollars are in Canadian currency unless otherwise noted. · claims qualifier: estimated; basis: estimated · quote: The secured creditors, BDC and RBC will suffer a shortfall on their loans. · pct of: unstated · outcome: shortfall · currency: CAD · class key: secured · stated by: receiver · class label: Royal Bank of Canada · claims amount: 408000 · creditor name: Royal Bank of Canada · interim final: unstated · currency quote: All references to dollars are in Canadian currency unless otherwise noted. · claims qualifier: estimated; basis: estimated · quote: After paying out priority claims and professional fees, there is no anticipated recovery for unsecured creditors. · pct of: unstated · outcome: nil · currency: CAD · class key: unsecured · stated by: receiver · class label: unsecured creditors · claims amount: 3388000 · interim final: unstated · currency quote: All references to dollars are in Canadian currency unless otherwise noted. · claims qualifier: estimated; basis: estimated · quote: The Receiver anticipates that there will be a shortfall to the secured creditors, BDC and RBC, in which case there will not be a recovery to any other creditors who rank behind BDC and RBC. · pct of: unstated · outcome: nil · stated by: receiver · class label: other creditors who rank behind BDC and RBC · interim final: unstated · conditional on: shortfall to BDC and RBC · claims qualifier: unstated · stated on: 2023-10-20 · table missing: