British Columbia · Bankruptcy
Trustee's Preliminary Report to Creditors
Court officer report · 13 September 2024
What we verified from this filing13 verified
- appointeeMNP Ltd.
- appointee roleLicensed Insolvency Trustee
- commencement date28 August 2024
- courtIN THE SUPREME COURT OF BRITISH COLUMBIA
- court file no25-3121356
- proceeding typebia_bankruptcy
- statutory basisBankruptcy and Insolvency Act
- statutory basisthe Bankruptcy and Insolvency Act
- financial positionnote: Secured and preferred creditors reported as Nil in the Statement of Affairs. Proofs of claim filed total $5,864,510.32 as of the report date, differing from the Statement of Affairs figure. Accounts receivable of $1,522,475 represents net proceeds from the RVO Transaction held in trust, subject to resolution of Post NOI Debt claims against Lotus Ventures Inc. · page: 2 · basis: Statement of Affairs filed in the bankruptcy · scope: Lotus Cannabis Alberta Incorporated (entity level; sole asset is cash held in trust from RVO Transaction) · currency: CAD · total assets: 1522475 · total liabilities: 4906839.6
- unsecured creditorsnote: Document names no individual creditors in the Statement of Affairs total; proofs of claim filed to date total $5,864,510.32 (26 proofs of claim filed as of report date), a different, higher figure noted separately by the Trustee. · page: 2 · as of: Statement of Affairs as filed · basis: Statement of Affairs as reported · amount: 4906839.6 · debtor: Lotus Cannabis Alberta Incorporated · creditor: Unsecured creditors (aggregate as reported) · currency: CAD
- unsecured creditorsnote: Unremitted GST claim; will rank as a general, unsecured claim (not deemed trust priority). CRA also holds a deemed-trust claim for unremitted payroll source deductions, but the Trustee does not expect a claim to be filed for that amount. · page: 3 · basis: Proof of claim filed in Proposal proceedings · amount: 805873.03 · debtor: Lotus Ventures Inc. (claim transferred to Lotus Cannabis Alberta Incorporated via RVO) · creditor: Canada Revenue Agency (CRA) · currency: CAD
- provinceBritish Columbia
- secured creditors