British Columbia · Receivership (court-appointed)
Trustee's Report to Creditors on Preliminary Administration dated December 16, 2025
Court officer report · 16 December 2025
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What we verified from this filing12 verified
- appointeeGrant Thornton Limited
- appointee roletrustee
- commencement date2 December 2025
- court file no11-3305804
- provinceBRITISH COLUMBIA
- statutory basisSection 49 of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, as amended
- cash on handnote: Cash on hand at the time of bankruptcy per sworn SOA. · as at: 2025-12-01 · amount: 4299466.28 · currency: CAD
- disbursementsnote: Distributed to secured creditors RBC ($3.6 million) and Sonoma Capital ($31,000) since the assignment. · since: the assignment (bankruptcy date, December 1, 2025) · amount: 3631000 · currency: CAD
- financial positionnote: Liabilities not totalled in report; components stated: WEPP superpriority estimated $40,000-$55,000; potential CRA source deduction claim estimated at $150,000 (unconfirmed); arrears GST of approximately $325,488.22 (loses priority in bankruptcy); unsecured claims per SOA totaling approximately $145,308.89 (Trustee expects real amount to be higher, includes several $1.00 placeholder claims). · as at: 2025-12-01 · basis: Company's sworn Statement of Affairs (SOA) · scope: Kingsley Trucking Ltd. (KTL) only, entity-level · currency: CAD · total assets: 4392590.08
- operational summaryThe Trustee has taken over administration of KTL's estate following its assignment into bankruptcy, focusing on preparing the Statement of Affairs, organizing the first meeting of creditors, and continuing efforts to collect outstanding accounts receivable.
- recovery outcomeentries: basis: estimated · quote: The Trustee does not expect any distribution to unsecured creditors as RBC will be experiencing a shortfall. · pct of: unstated · outcome: shortfall · class key: secured · stated by: trustee · class label: RBC · creditor name: Royal Bank of Canada · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: The Trustee does not expect any distribution to unsecured creditors as RBC will be experiencing a shortfall. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated · stated on: 2025-12-16 · table missing:
- report date16 December 2025