British Columbia · Bankruptcy
Statement of Affairs
Statement of affairs · 31 May 2024
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing21 verified
- commencement date30 May 2024
- financial positionnote: Deficiency of $2,183,547.79 stated on the form; total unsecured creditors (including balance of secured claims) $2,183,547.79; preferred creditors NIL · page: 1 · as at: 2024-05-30 · basis: Statement of Affairs (Business Bankruptcy), as stated and estimated by the officer · scope: Euro-Rite Cabinets Ltd. (single entity) · currency: CAD · total assets: 6246102.37 · total liabilities: 8429650.16
- provinceBritish Columbia
- statutory basisSubsection 49(2) and Paragraph 158(d) of the Act / Subsections 50(2) and 62(1) of the Act
- unsecured creditorspage: 2 · as of: 2024-05-30 · basis: Statement of Affairs, List A - Unsecured Creditors · amount: 517.13 · debtor: Euro-Rite Cabinets Ltd. · creditor: Integrity Countertops · currency: CAD
- unsecured creditorspage: 2 · as of: 2024-05-30 · basis: Statement of Affairs, List A - Unsecured Creditors · amount: 212.05 · debtor: Euro-Rite Cabinets Ltd. · creditor: Johnston Equipment · currency: CAD
- unsecured creditorspage: 2 · as of: 2024-05-30 · basis: Statement of Affairs, List A - Unsecured Creditors · amount: 31438.94 · debtor: Euro-Rite Cabinets Ltd. · creditor: Luminate Homes & Developments Ltd · currency: CAD
- unsecured creditorspage: 2 · as of: 2024-05-30 · basis: Statement of Affairs, List A - Unsecured Creditors · amount: 7457.93 · debtor: Euro-Rite Cabinets Ltd. · creditor: Marathon Fasteners Hware · currency: CAD
- unsecured creditorspage: 2 · as of: 2024-05-30 · basis: Statement of Affairs, List A - Unsecured Creditors · amount: 0 · debtor: Euro-Rite Cabinets Ltd. · creditor: Ministry of Finance · currency: CAD
- unsecured creditorspage: 2 · as of: 2024-05-30 · basis: Statement of Affairs, List A - Unsecured Creditors · amount: 24482.09 · debtor: Euro-Rite Cabinets Ltd. · creditor: Placer Construction Delivery Corp · currency: CAD
- unsecured creditorspage: 2 · as of: 2024-05-30 · basis: Statement of Affairs, List A - Unsecured Creditors · amount: 1135.89 · debtor: Euro-Rite Cabinets Ltd. · creditor: Plasti-Fab Ltd · currency: CAD
- unsecured creditorspage: 2 · as of: 2024-05-30 · basis: Statement of Affairs, List A - Unsecured Creditors · amount: 3100 · debtor: Euro-Rite Cabinets Ltd. · creditor: Trans Global Logistics · currency: CAD
- unsecured creditorspage: 2 · as of: 2024-05-30 · basis: Statement of Affairs, List A - Unsecured Creditors · amount: 1723.85 · debtor: Euro-Rite Cabinets Ltd. · creditor: Uline Shipping Supplies · currency: CAD
- unsecured creditorspage: 2 · as of: 2024-05-30 · basis: Statement of Affairs, List A - Unsecured Creditors · amount: 1713.91 · debtor: Euro-Rite Cabinets Ltd. · creditor: Van Kam Freightways Ltd · currency: CAD
- unsecured creditorsnote: Same creditor also listed as secured (List B) with balance of claim of $2,100,399.98 representing unsecured shortfall beyond estimated security value · page: 2 · as of: 2024-05-30 · basis: Statement of Affairs, List A - Unsecured Creditors (Balance of claim) · amount: 2100399.98 · debtor: Euro-Rite Cabinets Ltd. · creditor: Woodlore International Inc. · currency: CAD
- unsecured creditorspage: 2 · as of: 2024-05-30 · basis: Statement of Affairs, List A - Unsecured Creditors · amount: 8384.02 · debtor: Euro-Rite Cabinets Ltd. · creditor: Newworld Cabinet Ltd · currency: CAD
- unsecured creditorspage: 2 · as of: 2024-05-30 · basis: Statement of Affairs, List A - Unsecured Creditors · amount: 0 · debtor: Euro-Rite Cabinets Ltd. · creditor: Canada Revenue Agency · currency: CAD
- unsecured creditorspage: 2 · as of: 2024-05-30 · basis: Statement of Affairs, List A - Unsecured Creditors · amount: 593.25 · debtor: Euro-Rite Cabinets Ltd. · creditor: Edge Carbide Tools · currency: CAD
- unsecured creditorspage: 2 · as of: 2024-05-30 · basis: Statement of Affairs, List A - Unsecured Creditors · amount: 2388.75 · debtor: Euro-Rite Cabinets Ltd. · creditor: Green Clover Inc. · currency: CAD
- secured creditorsnote: Balance of claim shown as 0.00 (fully secured within estimated security value); priority and validity subject to independent legal review · page: 3 · as of: 2024-05-30 · amount: 5472619.72 · debtor: Euro-Rite Cabinets Ltd. · creditor: Tayco Office Furnishings Inc. · currency: CAD · security: Cash on Hand - Chequing $32,955.55; Other - Prepaid expenses $143,120.46; Debts Due - Business - Accounts receivable $1,507,574.23; Business Assets - Stock In Trade - Inventory $1,891,345.14; Business Assets - Machinery - Fixed assets $1,897,624.34 (estimated value of security)
- secured creditorsnote: Balance of claim $2,100,399.98 (unsecured shortfall beyond estimated security value); also listed as an unsecured creditor for balance of claim of $2,100,399.98 in List A; priority and validity subject to independent legal review · page: 3 · as of: 2024-05-30 · amount: 2873882.63 · debtor: Euro-Rite Cabinets Ltd. · creditor: Woodlore International Inc. · currency: CAD · security: Cash on Hand - Chequing $0.00; Other - Prepaid expenses $0.00; Debts Due - Business - Accounts receivable $0.00; Business Assets - Stock In Trade - Inventory $0.00; Business Assets - Machinery - Fixed assets $773,482.65 (estimated value of security)