British Columbia · Bankruptcy
Trustee's Preliminary Report to Creditors
Court officer report · 19 June 2025
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What we verified from this filing13 verified
- appointeeMNP Ltd.
- appointee roleLicensed Insolvency Trustee
- commencement date6 June 2025
- courtIN THE SUPREME COURT OF BRITISH COLUMBIA
- court file no11-3233082
- statutory basisthe Bankruptcy and Insolvency Act
- financial positionnote: Statement of Affairs totals: secured creditors $3,111, preferred creditors nil, unsecured creditors $248,113, total $251,224. No proofs of claim filed as of report date. Assets itemized (not totaled in document): vehicles/marine equipment estimated $55,000 and account receivable from related party $27,297 (fully collected by Trustee); barge, crane and tugboat pending sale, value not stated. · page: 2 · as at: date of bankruptcy (June 6, 2025) · basis: Statement of Affairs (as filed in the bankruptcy) · scope: Adam's Lake Towing Ltd. (single entity) · currency: CAD · total liabilities: 251224
- secured creditorsnote: Statement of Affairs reports total secured creditors of $3,111; no proofs of claim filed as of report date · page: 2 · as of: date of bankruptcy (June 6, 2025) · amount: 3111 · debtor: Adam's Lake Towing Ltd. · creditor: Secured creditors (per Statement of Affairs, unitemized) · currency: CAD · security: Aggregate secured claims as listed in the Statement of Affairs; not broken down by creditor
- secured creditorsnote: Director reported debt had been repaid and security interest would be discharged in due course; status pending discharge; no proof of claim received from Tekamar · page: 2 · debtor: Adam's Lake Towing Ltd. · creditor: Tekamar Mortgages Ltd. · currency: CAD · security: Security interest registered against specific pieces of equipment (British Columbia Personal Property Registry)
- secured creditorsnote: Deemed trust claim ranks in priority to all other creditors; Company reported it was not indebted to CRA for payroll source deductions; approximately $240,000 owing relates to GST and corporate taxes, which will rank as unsecured; no proof of claim received; amounts to be confirmed by Trustee · page: 2 · debtor: Adam's Lake Towing Ltd. · creditor: Canada Revenue Agency (CRA) · currency: CAD · security: Deemed trust claim/property claim over unremitted payroll source deductions
- secured creditorsnote: Relates to unpaid provincial sales taxes; no proof of claim received from the Crown · page: 2 · debtor: Adam's Lake Towing Ltd. · creditor: His Majesty the King in Right of the Province of British Columbia · currency: CAD · security: General security registration in the British Columbia Personal Property Registry
- secured creditorsnote: Company reported all employees received full wages and vacation pay and proper termination notice; Trustee does not expect any claims from wage earners · page: 3 · as of: date of bankruptcy (June 6, 2025) · amount: 2000 · debtor: Adam's Lake Towing Ltd. · creditor: Employees (wage earners) · currency: CAD · security: Statutory security over the Company's current assets pursuant to BIA s.81.3(1), to the extent of $2,000 per employee for wages/vacation pay/compensation in the 6 months preceding bankruptcy
- provinceBritish Columbia