Quebec · NOI
Trustee's Report on its preliminary administration (available in French only)
Court officer report · 17 December 2020
A plain-language read of this filing opens with a subscription.
What we verified from this filing11 verified
- appointeePricewaterhouseCoopers Inc.
- appointee rolesyndic
- commencement date1 December 2020
- courtCOUR SUPÉRIEURE
- court file no500-11-059155-206
- provinceQUÉBEC
- cash on handnote: Composed of $18,138 deposit held by PwC under the NOI and estimated $50,000 Scotia Bank balance; Scotia balance unconfirmed as of report date. · amount: 68138 · currency: CAD · qualifier: solde estimé, non confirmé par la banque
- financial positionnote: Total liabilities per statutory statement of affairs (113 claims, $1,034,521) vs only 3 claims/$72,224 actually received by trustee as of Dec 17, 2020; asset total not given, only components: bank balance $68,138 (deposit with PwC $18,138 + estimated Scotia balance $50,000, unconfirmed), term deposit at RBC $60,000 (to be offset against RBC line of credit), and office/computer equipment whose net realizable value was assessed as negative and abandoned to landlords. · as at: 2020-11-30 · basis: Créances déclarées au bilan statutaire (Statement of Affairs) · scope: entity - Académie Linguistique Internationale Inc. · currency: CAD · total liabilities: 1034521
- operational summaryALI, a language school for international students, ceased operations in spring 2020 after a drastic revenue drop caused by COVID-19 border closures, becoming insolvent while still bearing heavy fixed costs (mainly rent), leading to its assignment in bankruptcy; the trustee expects no distribution for ordinary creditors given asset values.
- report date17 December 2020
- report noRapport au sujet de l'administration préliminaire du Syndic