Alberta · Receivership (court-appointed)
Receiver's Fifth Report dated April 18, 2024
Court officer report · 18 April 2024
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What we verified from this filing9 verified
- cash on handnote: Aggregate receipts in excess of disbursements across the Companies (Concept $1,515,338; 101 Sask $175,187). · as at: 2024-04-17 · amount: 1690525 · currency: CAD
- disbursementsnote: Total disbursements (excluding payments to creditors, which totaled $1,829,822 separately). · since: July 16, 2018 · amount: 1779996 · currency: CAD
- fee scheduleengagements: form: invoice_listing · rows: · money: approximate: false · period: end: 2024-03-31 · kind: interim · quote: INTERIM SUMMARY OF PROFESSIONAL FEES FOR THE PERIOD OF MARCH 1, 2020 TO MARCH 31, 2024 · start: 2020-03-01 · approval: state: unstated · averages: · currency: · invoices: tax: 1000.85 · fees: 20017.02 · quote: to March 31, 2020 | LABS-2651 | 20,017.02 $ · total: 21017.87 · period end: 2020-03-31; tax: 389.08 · fees: 7781.58 · quote: to April 30, 2020 | LABS-2677 | 7,781.58 · total: 8170.66 · period end: 2020-04-30; tax: 438.97 · fees: 8779.35 · quote: to May 31, 2020 | LABS-2712 | 8,779.35 · total: 9218.32 · period end: 2020-05-31; tax: 201.16 · fees: 4023.2 · quote: to June 30, 2020 | LABS-2736 | 4,023.20 · total: 4224.36 · period end: 2020-06-30; tax: 327.29 · fees: 6545.73 · quote: to July 31, 2020 | LABS-2759 | 6,545.73 | 7.16 · total: 6880.18 · period end: 2020-07-31 · disbursements: 7.16; tax: 54.84 · fees: 1096.75 · quote: to July 31, 2020 | LABS-2758 | 1,096.75 · total: 1151.59 · period end: 2020-07-31; tax: 314.31 · fees: 6286.25 · quote: to August 31, 2020 | LABS-2791 | 6,286.25 | 7.16 · total: 6607.72 · period end: 2020-08-31 · disbursements: 7.16; tax: 167.72 · fees: 3354.45 · quote: to September 30, 2020 | LABS-2825 | 3,354.45 | 3.56 · total: 3525.73 · period end: 2020-09-30 · disbursements: 3.56; tax: 181.63 · fees: 3632.65 · quote: to October 31, 2020 | LABS-2831 | 3,632.65 · total: 3814.28 · period end: 2020-10-31; tax: 270.98 · fees: 5419.55 · quote: to November 30, 2020 | LABS-2859 | 5,419.55 · total: 5690.53 · period end: 2020-11-30; tax: 125.19 · fees: 2503.8 · quote: to December 31, 2020 | LABS-2880 | 2,503.80 | 7.21 · total: 2636.2 · period end: 2020-12-31 · disbursements: 7.21; tax: 389.96 · fees: 7799.23 · quote: to January 31, 2021 | LABS-2918 | 7,799.23 · total: 8189.19 · period end: 2021-01-31; tax: 98.09 · fees: 1961.85 · quote: to February 28, 2021 | LABS-2930 | 1,961.85 · total: 2059.94 · period end: 2021-02-28; tax: 84.48 · fees: 1689.53 · quote: to April 30, 2021 | LABS-2986 | 1,689.53 · total: 1774.01 · period end: 2021-04-30; tax: 84.77 · fees: 1695.42 · quote: to May 31, 2021 | LABS-3013 | 1,695.42 · total: 1780.19 · period end: 2021-05-31; tax: 240.62 · fees: 4812.33 · quote: to June 30, 2021 | LABS-3038 | 4,812.33 · total: 5052.95 · period end: 2021-06-30; tax: 153.81 · fees: 3076.25 · quote: to July 31, 2021 | LABS-3061 | 3,076.25 · total: 3230.06 · period end: 2021-07-31; tax: 192.65 · fees: 3853.07 · quote: to August 31, 2021 | LABS-3098 | 3,853.07 · total: 4045.72 · period end: 2021-08-31; tax: 258.14 · fees: 5162.75 · quote: to September 30, 2021 | LABS-3112 | 5,162.75 · total: 5420.89 · period end: 2021-09-30; tax: 124.74 · fees: 2494.71 · quote: to October 31, 2021 | LABS-3137 | 2,494.71 · total: 2619.45 · period end: 2021-10-31; tax: 109.57 · fees: 2191.36 · quote: to November 30, 2021 | LABS-3162 | 2,191.36 · total: 2300.93 · period end: 2021-11-30; tax: 171.04 · fees: 3420.79 · quote: to January 31, 2022 to February 28, 2022 | LABS-3204 - | 3,420.79 · total: 3591.83 · period end: 2022-01-31; tax: 167.46 · fees: 3349.1 · quote: to May 31, 2022 | LABS-3299 | 3,349.10 · total: 3516.56 · period end: 2022-05-31; tax: 120.11 · fees: 2402.15 · quote: to July 31, 2022 | LABS-3344 | 2,402.15 | - | 2,402.15 | 120.11 | - · total: 2522.26 · period end: 2022-07-31 · firm text: Grant Thornton Limited · firm quote: Grant Thornton Limited · context quote: Grant Thornton Limited 1100, 322 - 6 th Street SW Calgary, Alberta T2P 0B2; form: prose · rows: · money: tax: label: GST · quote: plus GST of $12,979.04 · amount: 12979.04 · fees: quote: The total fees of GFS, as litigation counsel to the Receiver, for the period of March 1, 2020 to March 31, 2024, were $258,457.71 · amount: 258457.71 · total: quote: for a total of $273,113.15 · amount: 273113.15 · includes tax: true · includes disbursements: true · approximate: false · disbursements: quote: plus disbursements of $1,676.40 · amount: 1676.4 · period: end: 2024-03-31 · kind: interim · quote: for the period of March 1, 2020 to March 31, 2024 · start: 2020-03-01 · approval: state: unstated · averages: · currency: · invoices: · firm text: GFS · firm quote: The total fees of GFS, as litigation counsel to the Receiver · context quote: The total fees of GFS, as litigation counsel to the Receiver, for the period of March 1, 2020 to March 31, 2024, were $258,457.71, plus disbursements of $1,676.40, plus GST of $12,979.04, for a total of $273,113.15.
- operational summaryThe Companies are no longer operating; the Receiver continues to pursue collection of outstanding receivables (including the disputed Fabricom Receivable) and is winding down remaining receivership matters ahead of final distributions.
- professional feesnote: Includes GST of $8,220.80; counsel fees also reported separately - Bennett Jones LLP total $87,498.09 and Goodfellow & Schuett Law total $273,113.15 for the same period. · party: Receiver (Grant Thornton Limited) · amount: 172661.6 · period: March 1, 2020 to March 31, 2024 · currency: CAD
- receipts cumulativenote: Total receipts across Concept, 101 Sask and 1645943 Alberta Inc. per Receiver's Interim Statement of Receipts and Disbursements. · since: July 16, 2018 · amount: 5300342 · currency: CAD
- recovery outcomeentries: basis: unstated · quote: (a) HSBC - $835,986.03; · pct of: unstated · outcome: distribution · currency: CAD · class key: secured · stated by: receiver · amount low: 835986.03 · amount high: 835986.03 · class label: HSBC · creditor name: HSBC Bank Canada · interim final: unstated · conditional on: after retaining sufficient funds to satisfy the Remaining Holdbacks · currency quote: All references to dollars are in Canadian currency unless otherwise noted. · claims qualifier: unstated; basis: unstated · quote: (b) the CRA - $660,949.95. · pct of: unstated · outcome: distribution · currency: CAD · class key: deemed_trust · stated by: receiver · amount low: 660949.95 · amount high: 660949.95 · class label: the CRA · creditor name: Canada Revenue Agency · interim final: unstated · conditional on: after retaining sufficient funds to satisfy the Remaining Holdbacks · currency quote: All references to dollars are in Canadian currency unless otherwise noted. · claims qualifier: unstated; basis: unstated · quote: | Distribution to Secured Creditor | 1,200,000 | - | - | 1,200,000 | · pct of: unstated · outcome: distribution · currency: CAD · class key: secured · stated by: receiver · amount low: 1200000 · amount high: 1200000 · class label: Distribution to Secured Creditor · interim final: unstated · currency quote: All references to dollars are in Canadian currency unless otherwise noted. · claims qualifier: unstated; basis: unstated · quote: | WEPPA Priority Claim (s. 81.4) | 619,822 | - | - | 619,822 | · pct of: unstated · outcome: distribution · currency: CAD · class key: weppa · stated by: receiver · amount low: 619822 · amount high: 619822 · class label: WEPPA Priority Claim (s. 81.4) · interim final: unstated · currency quote: All references to dollars are in Canadian currency unless otherwise noted. · claims qualifier: unstated; basis: unstated · quote: | Union Claims | 10,000 | - | - | 10,000 | · pct of: unstated · outcome: distribution · currency: CAD · stated by: receiver · amount low: 10000 · amount high: 10000 · class label: Union Claims · interim final: unstated · currency quote: All references to dollars are in Canadian currency unless otherwise noted. · claims qualifier: unstated · stated on: 2024-04-18 · table missing:
- report date18 April 2024
- report noFifth Report