British Columbia · Bankruptcy
Trustee's Preliminary Report to Creditors
Court officer report · 27 August 2024
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What we verified from this filing14 verified
- appointeeMNP Ltd.
- appointee roleLicensed Insolvency Trustee
- commencement date7 August 2024
- courtIN THE SUPREME COURT OF BRITISH COLUMBIA
- proceeding typebia_bankruptcy
- statutory basisBankruptcy and Insolvency Act
- statutory basisthe Bankruptcy and Insolvency Act
- financial positionnote: Table shows Statement of Affairs vs. Filed columns: Secured $124,656.15/Nil; Preferred Nil/Nil; Unsecured $115,677.57/$1,115; Total $240,333.72/$1,115. Estimated realizable asset values: accounts receivable $25,000, inventory $50,000, vehicle $24,650 (total assets not stated as a summed figure in document). · page: 2 · basis: Statement of Affairs filed in the bankruptcy · scope: Coast Textiles Sales Inc. (single entity, bankrupt estate) · currency: CAD · total liabilities: 240333.72
- secured creditorsnote: Estimated claim per PPSA registration; Trustee working to return leased vehicle · page: 2 · as of: PPR search July 24, 2024 · amount: 24650 · debtor: Coast Textiles Sales Inc. · creditor: Hyundai Capital Canada · currency: CAD · security: Motor vehicle (leased)
- secured creditorsnote: Estimated claim per PPSA registration · page: 2 · as of: PPR search July 24, 2024 · amount: 95000 · debtor: Coast Textiles Sales Inc. · creditor: Scotiabank · currency: CAD · security: Accounts receivable and inventory
- secured creditorsnote: Deemed trust claim, ranks in priority to all other creditors; no proof of claim yet received from CRA; asset secured listed as 'Inventory' in PPR table · page: 2 · as of: bankruptcy date (August 7, 2024) · amount: 5006.15 · debtor: Coast Textiles Sales Inc. · creditor: Canada Revenue Agency · currency: CAD · security: Deemed trust claim - unremitted payroll source deductions
- unsecured creditorsnote: Document names no individual unsecured creditors; only $1,115 in proofs of claim had been filed as of report date · page: 2 · as of: Statement of Affairs · basis: Statement of Affairs as reported · amount: 115677.57 · debtor: Coast Textiles Sales Inc. · creditor: Unsecured creditors (aggregate as reported) · currency: CAD
- secured creditorsnote: One employee reported not to have received full wages/vacation pay; amount not yet quantified · page: 3 · as of: bankruptcy date · debtor: Coast Textiles Sales Inc. · creditor: Employees (wage earners) · currency: CAD · security: Statutory security over current assets pursuant to BIA s.81.3(1), limited to $2,000 per employee
- provinceBritish Columbia