British Columbia · Bankruptcy
Trustee's Report to Creditors dated August 15 2023.pdf
Court officer report · 15 August 2023
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What we verified from this filing14 verified
- appointeeGrant Thornton Limited
- appointee roletrustee
- commencement date31 July 2023
- courtDistrict of British Columbia
- court file noEstate No. 11-2971290
- proceeding typebia_bankruptcy
- provinceBritish Columbia
- statutory basisSection 49 of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, as amended
- statutory basisSection 49 of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3
- cash on handnote: Cash seized by the Trustee and deposited; listed as 'Petty Cash' in Appendix B. · as at: 2023-07-31 · amount: 915 · currency: CAD · qualifier: at bankruptcy date
- financial positionnote: SOA totals differ by basis: Book Value per Management $47,451,894 vs Estimated to Produce per SOA $47,453,470. Liabilities not aggregated as a single total; unsecured claims totaling approximately $51,253,897.66 (including $41,923,819 Unearned Revenue), secured claims (ISCU ~$24,580, Steelcase ~$23,585), and priority claims (CRA $31,369.65, WEPP estimated $55,000-$60,000) stated separately. · as at: 2023-07-31 · basis: Statement of Affairs - Book Value per Management and Estimated to Produce per SOA · scope: DB Services of Victoria Inc. (in bankruptcy) - single entity · currency: CAD · total assets: 47453470
- operational summaryDBS ceased operations upon its bankruptcy filing; the Trustee secured the Company's assets and premises, disclaimed the lease with an affiliate, and the ongoing Rockford Place and Harmony construction projects will not be completed by DBS.
- professional feesnote: Estimated range $150,000-$250,000, assuming no further issues arise; figures are a projection, not fees actually incurred. · party: Trustee (Grant Thornton Limited), including legal counsel · period: estimated over course of administration · currency: CAD
- report date15 August 2023