Ontario · Receivership (court-appointed)
Trustee's Report to Creditors on preliminary administration dated November 29, 2022
Court officer report · 29 November 2022
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What we verified from this filing5 verified
- closing confirmedscope: the Equipment and Leased Assets · outcome: completed · date basis: unstated · approval order date: 2022-10-28
- purchaserprice: note: proceeds from sale of Equipment and Leased Assets · basis: cash · amount: 9600000 · sealed: false · currency: CAD · scope: substantially all of the Company's owned equipment, machinery, vehicles and tools (the 'Equipment') and certain of the Company's leased assets (the 'Leased Assets') · status: closed · name note: purchasers via Auctioneer's auction process for Equipment and Leased Assets · structure: auction · name source: recital · relationship: unstated
- recovery outcomeentries: basis: unstated · quote: Accordingly, no distributions are expected to be available for creditors in the bankruptcy proceeding. · pct of: unstated · outcome: nil · stated by: trustee · class label: creditors in the bankruptcy proceeding · interim final: unstated · claims qualifier: unstated · stated on: 2022-11-29 · table missing:
- sale advisorCorporate Assets Inc.
- sale outcometext: The Auctioneer has sold substantially all of the Equipment and Leased Assets, with proceeds significantly less than Bridging's secured loan. · scope: liquidation · status: closed