British Columbia · Proposal
Trustee's Preliminary Report
Court officer report · 15 March 2024
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing8 verified
- appointeeErnst & Young Inc.
- appointee roleLicensed Insolvency Trustee
- proceeding typebia_proposal
- provinceBritish Columbia
- statutory basissection 50.4(1) of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B.-3, as amended
- statutory basissection 50.4(1) of the Bankruptcy and Insolvency Act
- financial positionnote: Table shows assets by category and entity: Cash $33,975; Trade Fixtures $2; Equipment $2; Inventory $21,000; Other (cash held in trust) $60,000; Total $114,979. No total liabilities stated; Section G notes 'at the time of preparing this report, there are no provable creditors.' · basis: Statement of Affairs · scope: combined - Cannibal Café, Smitty's, Alphabet City, Park Drive GP, Park Drive LP · currency: CAD · total assets: 114979
- recovery outcomeentries: basis: plan · quote: The unsecured creditors with a proven claim would receive a cash distribution equal to 2% of its proven claim. · pct of: proven_claims · outcome: distribution · pct low: 2 · pct high: 2 · class key: unsecured · stated by: proposal_trustee · class label: Affected Creditors Class (unsecured creditors with a Proven Claim) · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Crown Claims that are proven claims (if any) shall be paid in full, inclusive of interest, within six months after the Court grants an order approving the Joint Proposal, in accordance with the scheme of distribution set forth in the BIA. · pct of: unstated · outcome: paid_in_full · class key: deemed_trust · stated by: proposal_trustee · class label: Crown Claims (proven claims, if any) · creditor name: CRA · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Preferred claims that are proven claims (if any) shall be paid in full on or after the date that is immediately after the Court grants an order approving the Joint Proposal, in accordance with the scheme of distribution set forth in the BIA. · pct of: unstated · outcome: paid_in_full · class key: preferred · stated by: proposal_trustee · class label: Preferred claims (proven claims, if any) · interim final: unstated · claims qualifier: unstated · stated on: 2024-03-15 · table missing: