Manitoba · NOI
Report of the Trustee on Preliminary Administration
Court officer report · 18 June 2020
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What we verified from this filing6 verified
- cash on handnote: Represents balance of prior proposal trustee retainer to fund basic costs of estate administration. · amount: 16264.87 · currency: CAD · qualifier: plus accrued interest earned on the retainer funds
- financial positionnote: Asset components listed at Net Book Value only (Accounts receivable $346,000; Softwood lumber duty deposits $10,179,000; Other receivables $417,000; Property plant and equipment $39,300,000); Realizable Value and Total Assets withheld pursuant to court sealing order. Liabilities: Secured Creditors (approximate) $17,450,000; Preferred Creditors nil; Unsecured Creditors $10,741,127. · as at: 2020-06-04 · basis: Statement of Affairs sworn June 4, 2020; asset values withheld by court order and do not reflect valuation estimates · scope: Prendiville Industries Ltd. (single entity) · currency: CAD · total liabilities: 28191127
- operational summaryPIL's assets and books and records are under the control of the court-appointed Receiver, which is pursuing a sale of the assets; the Trustee has not taken possession of any assets or records and does not expect to realize on them.
- professional feesnote: Also issued payment of $3,848.69 to Taylor McCaffrey LLP as legal counsel to the proposal trustee. · party: Ernst & Young Inc. (Proposal Trustee) · amount: 4886.44 · period: services rendered as proposal trustee prior to receivership · currency: CAD
- recovery outcomeentries: basis: unstated · quote: The Trustee is of the view that the prospect of a distribution cannot be assessed · pct of: unstated · outcome: undetermined · class key: unsecured · stated by: trustee · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: There are no unencumbered assets available for distribution to the unsecured creditors of PIL. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated · stated on: 2020-06-17 · table missing:
- report date17 June 2020