Alberta · Bankruptcy
Second Report of the Trustee
Court officer report · 29 April 2014
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 filing7 verified
- cash on handnote: Statement of Receipts and Disbursements shows excess of receipts over disbursements represented by cash in bank of $1,536,815. Includes approximately $1.28 million of BMO Funds held in trust with the Trustee's legal counsel, which Lockerbie claims were paid erroneously and intends to pursue for return. · as at: 2014-04-28 · amount: 1500000 · currency: CAD · qualifier: approximately
- disbursementsnote: Described in the report as approximately $791,000. · since: date of bankruptcy to April 28, 2014 · amount: 790758 · currency: CAD
- operational summaryThe PLG Group made assignments in bankruptcy in October 2013; the Trustee auctioned the assets (gross proceeds about $1.66 million), disclaimed the leased premises on December 23, 2013, is collecting accounts receivable and resolving builders' lien claims, with 23 Lien Claims outstanding.
- professional feesnote: Net of GST; paid. Trustee's legal counsel's fees and disbursements of approximately $118,000 (net of GST) also paid for the period ended December 18, 2013. CRA agreed to permit Trustee's reasonable fees and expenses up to $1.2 million to be paid ahead of its property claims. · party: Trustee (Deloitte Restructuring Inc.) · amount: 369000 · period: period ended January 7, 2014 · currency: CAD
- receipts cumulativenote: Described in the report as approximately $2.3 million; includes net auction proceeds of $1,585,929 and accounts receivable collections of $668,019. · since: date of bankruptcy to April 28, 2014 · amount: 2327574 · currency: CAD
- report date29 April 2014
- report noSecond Report