Alberta · Bankruptcy
Trustee Preliminary Report
Court officer report · 16 May 2024
A plain-language read of this filing opens with a subscription.
What we verified from this filing6 verified
- proceeding typebia_bankruptcy
- secured creditorsnote: Amount is CIBC's filed proof of claim (secured portion) as of the date of this report. At the Filing Date (May 1, 2024) the Company had listed the CIBC secured claim as approximately $530,000 in its Statement of Affairs. Caron & Partners LLP independently reviewed the CIBC Security prior to the Filing Date and confirmed it is, subject to usual qualifications, valid and enforceable. · page: 2 · as of: 2024-05-16 · amount: 420000 · debtor: 793085 Alberta Ltd. · creditor: Canadian Imperial Bank of Commerce (CIBC) · currency: CAD · security: CIBC Mortgage over the Property (4901 49th Street, Athabasca, Alberta); registered security interest over all present and after-acquired personal property of the Company
- unsecured creditorsnote: Approximate amount for source deductions, penalties and interest; CRA completed a trust exam in April 2024 confirming the amounts owing. CRA holds a priority claim on its deemed trust portion with respect to the Equipment only (not the Property, which is subject to the CIBC Mortgage) — deemed trust class. · page: 2 · as of: 2024-05-01 · basis: Statement of Affairs as reported (Filing Date) · amount: 271000 · debtor: 793085 Alberta Ltd. · creditor: Canada Revenue Agency (CRA) · currency: CAD
- unsecured creditorsnote: Additional ordinary unsecured creditors totaling approximately $72,000; document names no individual creditors. · page: 2 · as of: 2024-05-01 · basis: Statement of Affairs as reported (Filing Date) · amount: 72000 · debtor: 793085 Alberta Ltd. · creditor: Unsecured creditors (aggregate as reported) · currency: CAD
- unsecured creditorsnote: Represents the unsecured/deficiency portion of CIBC's filed proof of claim, distinct from its secured claim; not yet determined for admissibility for dividend purposes. · page: 2 · as of: 2024-05-16 · basis: Proof of claim filed by CIBC as of the date of this report · amount: 75680.02 · debtor: 793085 Alberta Ltd. · creditor: Canadian Imperial Bank of Commerce (CIBC) — unsecured deficiency claim · currency: CAD
- recovery outcomeentries: basis: estimated · quote: Based on estimated realizations of the above assets, it is anticipated that there will be shortfall in satisfying the secured and priority claims, therefore, no funds are anticipated to be available for distribution to the Company's ordinary unsecured creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: the Company's ordinary unsecured creditors · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: Based on estimated realizations from the Property and the Equipment, it is not anticipated that any funds will be available for distribution to the Company's unsecured creditors; and · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: the Company's unsecured creditors · interim final: unstated · claims qualifier: unstated · stated on: 2024-05-16 · table missing: