British Columbia · Receivership (court-appointed)
Third Report of the Court Appointed Receiver and Manager filed June 13, 2024
Court officer report · 13 June 2024
A plain-language read of this filing opens with a subscription.
What we verified from this filing1 verified
- recovery outcomeentries: basis: estimated · quote: Since RBC and BDC are expected to suffer material shortfalls, there will be no funds available to any unsecured creditors of the Companies. · pct of: unstated · outcome: nil · class key: unsecured · stated by: receiver · class label: Unsecured Creditors · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: However, the Receiver notes that RBC will suffer a significant shortfall on the RBC indebtedness since the debt is more than $3.5 million and the RBC Distribution is expected to be less than $100,000. · pct of: unstated · outcome: shortfall · class key: secured · stated by: receiver · class label: RBC · creditor name: RBC · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: RBC has consented to a distribution of USD $20,000 (CAD $27,383) to BDC from the Transaction proceeds, without allocation of the costs incurred in the Receivership Proceedings (the "BDC Distribution"). · pct of: unstated · outcome: distribution · currency: CAD · class key: secured · stated by: receiver · amount low: 27383 · amount high: 27383 · class label: BDC · creditor name: BDC · interim final: unstated · currency quote: CAD $27,383 · claims qualifier: unstated · stated on: 2024-06-12 · table missing: