Alberta · Receivership (court-appointed)
Notice and Statement of the Receiver (VNFG)
Notice to creditors · 2 November 2023
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What we verified from this filing18 verified
- financial positionnote: Total liabilities figure ($44,325,762) is the sum stated in the Receiver's own table of secured, possible statutory/preferred, and unsecured creditors (page 2); no separate as-at date given for liabilities beyond the general basis of unaudited books and records concurrent with the receivership. · page: 1 · as at: 2023-11-02 · basis: Asset figures are net book value based on unaudited books and records of the Company as at November 2, 2023, and 'may not represent fair market value of the Property'; liability figures are 'Reported Amounts' based on unaudited books and records, not reviewed or audited and not a final determination of creditor claims · scope: Consolidated - Ventures North Financial Group Limited Partnership (by its general partner Ventures North Financial Group Inc.) and Ventures North Financial Group Inc. · currency: CAD · total assets: 39891597 · total liabilities: 44325762
- secured creditorsnote: From Receiver's amounts-owed table; unaudited books and records · page: 2 · amount: 3419276 · debtor: Ventures North Financial Group Limited Partnership / Ventures North Financial Group Inc. · creditor: Cornerstone Credit Union · currency: CAD
- secured creditorsnote: From Receiver's amounts-owed table; unaudited books and records · page: 2 · amount: 3067584 · debtor: Ventures North Financial Group Limited Partnership / Ventures North Financial Group Inc. · creditor: Prairie Centre Credit Union · currency: CAD
- secured creditorsnote: Individual creditor listed as secured; possible related party (also holds a much larger unsecured claim); unaudited books and records · page: 2 · amount: 542603 · debtor: Ventures North Financial Group Limited Partnership / Ventures North Financial Group Inc. · creditor: Frederick North · currency: CAD
- secured creditorsnote: From Receiver's amounts-owed table (para 3(d)); unaudited books and records · page: 2 · amount: 5599610 · debtor: Ventures North Financial Group Limited Partnership / Ventures North Financial Group Inc. · creditor: Servus Credit Union · currency: CAD
- unsecured creditorsnote: Preferred/statutory deemed-trust class claim (CRA) · page: 2 · basis: Receiver's amounts-owed table, listed under 'Possible statutory / preferred creditors' · amount: 10000 · debtor: Ventures North Financial Group Limited Partnership / Ventures North Financial Group Inc. · creditor: Canada Revenue Agency · currency: CAD
- unsecured creditorsnote: Individual creditor; possible related party; also holds a secured claim of $542,603; unaudited books and records · page: 2 · basis: Receiver's amounts-owed table, listed under 'Unsecured creditors' · amount: 26113879 · debtor: Ventures North Financial Group Limited Partnership / Ventures North Financial Group Inc. · creditor: Frederick North · currency: CAD
- unsecured creditorsnote: Unaudited books and records · page: 2 · basis: Receiver's amounts-owed table, listed under 'Unsecured creditors' · amount: 2257281 · debtor: Ventures North Financial Group Limited Partnership / Ventures North Financial Group Inc. · creditor: Osoyoos Mountain Estates Inc. · currency: CAD
- unsecured creditorsnote: Preferred/statutory claim; unaudited books and records · page: 2 · basis: Receiver's amounts-owed table, listed under 'Possible statutory / preferred creditors' · amount: 62710 · debtor: Ventures North Financial Group Limited Partnership / Ventures North Financial Group Inc. · creditor: Commercial, residential security and customer deposits · currency: CAD
- unsecured creditorsnote: Individual creditor; unaudited, illustrative, not a final determination of claims · page: 4 · basis: Appendix A - itemized 'Other unsecured debt' · amount: 1000000 · debtor: Ventures North Financial Group Limited Partnership / Ventures North Financial Group Inc. · creditor: Lilly Goodwin · currency: CAD
- unsecured creditorsnote: Unaudited, illustrative, not a final determination of claims · page: 4 · basis: Appendix A - itemized 'Other unsecured debt' · amount: 465429 · debtor: Ventures North Financial Group Limited Partnership / Ventures North Financial Group Inc. · creditor: Silent Bear Holdings Ltd. · currency: CAD
- unsecured creditorsnote: Unaudited, illustrative, not a final determination of claims · page: 4 · basis: Appendix A - itemized 'Other unsecured debt' · amount: 401956 · debtor: Ventures North Financial Group Limited Partnership / Ventures North Financial Group Inc. · creditor: Moonlight Systems Inc. · currency: CAD
- unsecured creditorsnote: Unaudited, illustrative, not a final determination of claims · page: 4 · basis: Appendix A - itemized 'Other unsecured debt' · amount: 262886 · debtor: Ventures North Financial Group Limited Partnership / Ventures North Financial Group Inc. · creditor: 1417691 Alberta Ltd. · currency: CAD
- unsecured creditorsnote: Same creditor also holds a secured claim of $5,599,610; this is a separate unsecured amount; unaudited, illustrative · page: 4 · basis: Appendix A - itemized 'Other unsecured debt' · amount: 73934 · debtor: Ventures North Financial Group Limited Partnership / Ventures North Financial Group Inc. · creditor: Servus Credit Union · currency: CAD
- unsecured creditorsnote: Individual creditor; unaudited, illustrative, not a final determination of claims · page: 4 · basis: Appendix A - itemized 'Other unsecured debt' · amount: 48000 · debtor: Ventures North Financial Group Limited Partnership / Ventures North Financial Group Inc. · creditor: Dennis Snider · currency: CAD
- unsecured creditorsnote: Unaudited, illustrative, not a final determination of claims · page: 4 · basis: Appendix A - itemized 'Other unsecured debt' · amount: 536 · debtor: Ventures North Financial Group Limited Partnership / Ventures North Financial Group Inc. · creditor: Majeau Gardens Inc. · currency: CAD
- unsecured creditorsnote: Unaudited, illustrative, not a final determination of claims · page: 4 · basis: Appendix A - itemized 'Other unsecured debt' · amount: 78 · debtor: Ventures North Financial Group Limited Partnership / Ventures North Financial Group Inc. · creditor: Fort Saskatchewan Utilities · currency: CAD
- unsecured creditorsnote: Individual creditor; unaudited, illustrative, not a final determination of claims · page: 4 · basis: Appendix A - itemized 'Other unsecured debt' · amount: 1000000 · debtor: Ventures North Financial Group Limited Partnership / Ventures North Financial Group Inc. · creditor: May Allen · currency: CAD