Alberta · Bankruptcy
Trustee's Preliminary Report to Creditors October 14, 2016
Court officer report · 14 October 2016
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What we verified from this filing10 verified
- appointeeDeloitte Restructuring Inc.
- appointee roleLicensed Insolvency Trustee
- commencement date26 September 2016
- court file no24-2169632
- proceeding typebia_bankruptcy
- secured creditorsnote: Approximate amount, plus costs; Trustee has obtained legal opinion confirming this is a proper secured claim · page: 2 · amount: 170000 · debtor: Capital Steel Inc. · creditor: Canadian Western Bank · currency: CAD · security: General Security Agreement
- secured creditorsnote: BDC filed claim for approximately $4.9 million total; values security at $200,000 and claims remainder ($4.7M) as unsecured; Trustee has not yet received legal opinion on validity of security · page: 2 · amount: 200000 · debtor: Capital Steel Inc. · creditor: Business Development Bank of Canada (BDC) · currency: CAD · security: General Security Agreement
- secured creditorsnote: Approximate amount; employees being notified of WEPP · page: 2 · as of: bankruptcy date (September 26, 2016) · amount: 70000 · debtor: Capital Steel Inc. · creditor: Employees (Wage Earner Protection Program / s.81.3 BIA super-priority) · currency: CAD · security: Super-priority charge over current assets under s. 81.3 BIA
- secured creditorsnote: Deemed trust claim for unpaid payroll source deductions, in priority to all creditors; approximate amount; agreement with Trustee to allow fees/expenses up to $50,000 ahead of this claim · page: 2 · as of: bankruptcy date (September 26, 2016) · amount: 220000 · debtor: Capital Steel Inc. · creditor: Canada Revenue Agency · currency: CAD
- recovery outcomeentries: basis: unstated · quote: For the reasons stated above, the Trustee is unable to provide estimated realization and recovery to unsecured creditors at this time. · pct of: unstated · outcome: undetermined · class key: unsecured · stated by: trustee · class label: Unsecured Creditors · interim final: unstated · claims qualifier: unstated · stated on: 2016-10-14 · table missing: