Ontario · NOI
Trustee's Report to the First Meeting of Creditors on Preliminary Administration
Court officer report · 19 June 2020
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What we verified from this filing4 verified
- closing confirmedscope: substantially all of the Company's assets, properties and undertakings · outcome: completed · effective: 2020-05-29 · purchaser: 2746904 Ontario Inc. · date basis: stated · approval order date: 2020-03-16
- financial positionnote: No totals stated; components only: nominal cash remained with the Company after the Transaction closed; legal counsel repaid unused retainer of $8,555 (vs. $9,350 estimated in the Statement of Affairs); intercompany receivable of $2.7M owing from parent REAL (believed largely uncollectible from other receivables); Statement of Affairs indicates no known preferred creditors as at date of bankruptcy; Statement of Affairs indicates approximately 255 unsecured creditors with claims totalling approximately $41.5 million (excluding terminated employees), of which approximately $22 million relates to the two shareholders. · basis: Statement of Affairs / Trustee's preliminary review · scope: entity (Air Georgian Limited only) · currency: CAD
- purchaser2746904 Ontario Inc.
- sale outcometext: Transaction closed May 29, 2020 · scope: whole_business · status: closed