Quebec · Bankruptcy
Trustee's Report on Preliminary Administration
Court officer report · 22 May 2025
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What we verified from this filing5 verified
- financial positionnote: Total liabilities comprise secured creditors of $574,229 and unsecured creditors of $27,343,962 per Statement of Affairs; no proofs of claim received to date. Asset value is the Montreal Property's estimated value ($612,000), against a municipal evaluation of $612,200. · page: 2 · basis: Estimated value per Trustee (assets); Statement of Affairs (liabilities) · scope: Entity-level - SG Canada LP only · currency: CAD · total assets: 612000 · total liabilities: 27918191
- secured creditorsnote: Loan originally CAN$385,000 advanced Sept 28, 2022; secured by first-ranking hypothec granted Sept 29, 2022; declared due and payable following freezing of Grusd's assets in Jan 2023. Investment management firm, not a related party per document. · page: 3 · as of: Statement of Affairs · amount: 574227 · debtor: SG Canada LP · creditor: Stormfield SPV I, LLC · currency: CAD · security: Conventional hypothec of superior rank over Montreal Property
- secured creditorsnote: Statement of Affairs (p.2) lists a nominal $1 placeholder for this creditor; Section D estimated claim is $4,684, and Section F states the City's Demand Letter/Notice of Sale for Taxes total due amount is $4,683.60 (the more precise figure). · page: 3 · as of: Statement of Affairs · amount: 4684 · debtor: SG Canada LP · creditor: City of Montreal · currency: CAD · security: City taxes (municipal tax claim)
- secured creditorsnote: Nominal $1 amount stated in both Statement of Affairs and Section D secured claims table; likely placeholder for an unquantified school tax claim. · page: 3 · as of: Statement of Affairs · amount: 1 · debtor: SG Canada LP · creditor: Montreal School Board · currency: CAD · security: School taxes
- recovery outcomeentries: basis: estimated · quote: The anticipated realization is insufficient to pay all of the secured creditors in full, therefore there is no anticipated dividend for the unsecured creditors. · pct of: unstated · outcome: shortfall · class key: secured · stated by: trustee · class label: secured creditors · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: The anticipated realization is insufficient to pay all of the secured creditors in full, therefore there is no anticipated dividend for the unsecured creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated · stated on: 2025-05-22 · table missing: