British Columbia · Receivership (court-appointed)
Form 78 - Statement of Affairs (includes list of creditors)
List of creditors · 23 April 2020
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 filing15 verified
- financial positionnote: Statement of Affairs reports total liabilities of $272,283,522.59 comprising unsecured creditors $23,625,937.70, secured creditors balance $248,587,680.89, preferred creditors $0.00, and contingent/trust claims $0.00; total assets $69,904.00; deficiency of $272,213,618.59. · page: 1 · as at: 2020-04-14 · basis: as stated and estimated by the officer (trustee) · scope: entity - Neucel Specialty Cellulose Ltd. · currency: CAD · total assets: 69904 · total liabilities: 272283522.59
- unsecured creditorspage: 2 · as of: 2020-04-14 · basis: Statement of Affairs (List A) as reported by trustee · amount: 1 · debtor: Neucel Specialty Cellulose Ltd. · creditor: CBSC Capital Inc. (3450 Superior Court) · currency: CAD
- unsecured creditorsnote: Listed as unsecured balance of claim; also appears as secured creditor in List B with matching amount - security value estimated at $0.00, so bifurcated secured/unsecured by security valuation. · page: 2 · as of: 2020-04-14 · basis: Statement of Affairs (List A) as reported by trustee · amount: 235225500 · debtor: Neucel Specialty Cellulose Ltd. · creditor: Fulida (Canada) Holdings Ltd. · currency: CAD
- unsecured creditorsnote: Bifurcated secured/unsecured by security valuation - secured amount $13,432,081.89 per List B less estimated security value $69,904.00 yields unsecured balance shown here. · page: 2 · as of: 2020-04-14 · basis: Statement of Affairs (List A) as reported by trustee · amount: 13362177.89 · debtor: Neucel Specialty Cellulose Ltd. · creditor: Her Majesty the Queen in the Right of the Province of British Columbia · currency: CAD
- unsecured creditorspage: 2 · as of: 2020-04-14 · basis: Statement of Affairs (List A) as reported by trustee · amount: 1 · debtor: Neucel Specialty Cellulose Ltd. · creditor: HSBC Bank of Canada (300-885 W Georgia Street) · currency: CAD
- unsecured creditorspage: 2 · as of: 2020-04-14 · basis: Statement of Affairs (List A) as reported by trustee · amount: 21368000 · debtor: Neucel Specialty Cellulose Ltd. · creditor: Unifor Local 514 · currency: CAD
- unsecured creditorsnote: Municipal creditor - potentially municipal tax claim. · page: 2 · as of: 2020-04-14 · basis: Statement of Affairs (List A) as reported by trustee · amount: 1819283.29 · debtor: Neucel Specialty Cellulose Ltd. · creditor: Village of Port Alice · currency: CAD
- unsecured creditorsnote: Total claim $0.00, unsecured balance $1.00. · page: 2 · as of: 2020-04-14 · basis: Statement of Affairs (List A) as reported by trustee · amount: 1 · debtor: Neucel Specialty Cellulose Ltd. · creditor: Bank of China (Canada) (1025 Dunsmuir Street) · currency: CAD
- unsecured creditorspage: 2 · as of: 2020-04-14 · basis: Statement of Affairs (List A) as reported by trustee · amount: 388277.04 · debtor: Neucel Specialty Cellulose Ltd. · creditor: BC Hydro (22 00000 96104) · currency: CAD
- unsecured creditorsnote: Wage claim; may be entitled to preferred status but listed in List A (unsecured) per document. · page: 2 · as of: 2020-04-14 · basis: Statement of Affairs (List A) as reported by trustee · amount: 50377.37 · debtor: Neucel Specialty Cellulose Ltd. · creditor: Employment Standards Branch (Wages) · currency: CAD
- secured creditorsnote: Estimated value of security stated as $0.00 for each parcel per List B; estimated surplus from security $235,225,500.00 recorded in totals column - likely a balance figure carried to total; unsecured List A also shows balance of claim $235,225,500.00 for same creditor. · page: 3 · as of: 2020-04-14 · amount: 235225500 · debtor: Neucel Specialty Cellulose Ltd. · creditor: Fulida (Canada) Holdings Ltd. · currency: CAD · security: Real property/immovable mortgages over multiple Port Alice parcels (#306, 791 Marine Drive; 200 Totem Way; 300 Totem Way; 930 Marine Drive x3; Industrial Way), registered 14-Sep-2007
- secured creditorsnote: Claimed as secured per List B; nominal $1.00 balance; corresponding unsecured entries also show $0-1 amounts. · page: 3 · as of: 2020-04-14 · amount: 1 · debtor: Neucel Specialty Cellulose Ltd. · creditor: Bank of China (Canada) · currency: CAD
- secured creditorsnote: Claimed as secured per List B; nominal $1.00 balance. · page: 3 · as of: 2020-04-14 · amount: 1 · debtor: Neucel Specialty Cellulose Ltd. · creditor: CBSC Capital Inc. · currency: CAD
- secured creditorsnote: Estimated value of security per parcel: $45,900; $13,200; $10,800; $1; $1; $1; $1 (total estimated value stated as $69,904.00 in List B total row; balance of claim shown as $13,362,177.89 in totals). · page: 4 · as of: 2020-04-14 · amount: 13432081.89 · debtor: Neucel Specialty Cellulose Ltd. · creditor: Her Majesty the Queen in the Right of the Province of British Columbia · currency: CAD · security: Real property/immovable security over multiple Port Alice parcels (#306, 791 Marine Drive; 300 Totem Way; 200 Totem Way; 930 Marine Drive x3; Industrial Way), registered 14-Apr-2020
- secured creditorsnote: Claimed as secured per List B; nominal $1.00 balance. · page: 4 · as of: 2020-04-14 · amount: 1 · debtor: Neucel Specialty Cellulose Ltd. · creditor: HSBC Bank of Canada · currency: CAD