British Columbia · Bankruptcy
Trustee's Preliminary Report
Court officer report · undated
What we verified from this filing14 verified
- applicantHome Hardware Stores Limited and The Bank of Nova Scotia
- appointeeDeloitte Restructuring Inc.
- commencement date23 December 2014
- court file noB-131248
- proceeding typebia_bankruptcy
- provinceBritish Columbia
- financial positionnote: Table shows book value at date of receivership (total $6,480,621) versus value realized by Receiver (total $1,041,887); no total liabilities figure stated in the report. All funds realized are fully encumbered per Trustee. · page: 2 · basis: Book value at date of receivership (per Receiver's records); comparative column shows value realized by Receiver of $1,041,887 · scope: R Home Supply Centre Ltd. (entity level) · currency: CAD · total assets: 6480621
- secured creditorsnote: Balance not stated; BNS valued its own security and asserted an unsecured claim in excess of $1,000 for petition purposes after estimated security deduction. Appointed Grant Thornton Ltd. as receiver in July 2013. · page: 3 · debtor: R Home Supply Centre Ltd. · creditor: The Bank of Nova Scotia · currency: CAD · security: General security agreement over all of R Home's assets; first mortgage over Lot A (1628 Alaska Avenue, Dawson Creek, BC)
- statutory basisBankruptcy and Insolvency Act
- appointee roleTrustee
- secured creditorsnote: Amount is the redemption figure fixed in the order nisi of foreclosure as of July 22, 2014, plus interest; mortgage ranks behind BNS's first mortgage. To the extent unrecovered through receivership/foreclosure, HH is eligible to file as unsecured creditor for the shortfall. · page: 5 · as of: 2014-07-22 · amount: 2369902.57 · debtor: R Home Supply Centre Ltd. · creditor: Home Hardware Stores Limited (HHSL) · currency: CAD · security: Second mortgage over Lot A; security over HH shares/notes held by R Home as security for amounts owing under the Dealer Agreement
- unsecured creditorsnote: Includes deemed-trust class items (source deductions/sales taxes) and WorkSafeBC/employee claims; document does not itemize by creditor. Trustee noted judgment referenced priority of Crown claims that would otherwise rank ahead of BNS/HHSL security. · page: 12 · as of: 2013-06-26 · basis: Outstanding and overdue statutory obligations as reflected in R Home's records as of June 26, 2013 · amount: 217000 · debtor: R Home Supply Centre Ltd. · creditor: Unremitted source deductions, employee claims, sales taxes, and WorkSafeBC remittances (aggregate) · currency: CAD
- unsecured creditorsnote: Document names no individual creditors within this aggregate figure. · page: 12 · as of: 2013-08-12 · basis: Books and records of R Home showing accounts payable for invoices 90 days past due (77 other creditors), as of August 12, 2013 · amount: 286871 · debtor: R Home Supply Centre Ltd. · creditor: Unsecured creditors (aggregate as reported - 77 other creditors) · currency: CAD
- unsecured creditorsnote: Reflects unpaid trade payables under Dealer Agreement; HH also holds security (second mortgage/share security) - shortfall after security realization would be pursued as unsecured claim per Trustee's report. · page: 12 · as of: 2013-08-12 · basis: Books and records of R Home showing accounts payable for invoices 90 days past due, as of August 12, 2013 · amount: 2889185 · debtor: R Home Supply Centre Ltd. · creditor: Home Hardware Stores Limited (HHSL) · currency: CAD