British Columbia · Bankruptcy
Trustee's Preliminary Report
Court officer report · 3 May 2023
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What we verified from this filing14 verified
- appointeeMNP Ltd.
- appointee roleLicensed Insolvency Trustee
- commencement date17 April 2023
- courtIN THE SUPREME COURT OF BRITISH COLUMBIA IN BANKRUPTCY AND INSOLVENCY
- court file no11-293777
- statutory basisBankruptcy and Insolvency Act
- financial positionnote: Assets comprise Accounts Receivable $10,000.00, Cash $10,000.00, Machinery & Equipment $20,000.00, Vehicles $10,001.00; total liabilities per Statement of Affairs is secured $50,002.00 + preferred nil + unsecured $8,219,284.49 = $8,269,286.49; total filed proofs of claim to date are $1,281,919.90; machinery/equipment and vehicles values include assets (office trailer, two trucks, sea cans) the Trustee believes may actually be owned by related company Integrated Construction Concepts Ltd., not ICC · page: 2 · basis: Statement of Affairs filed in the bankruptcy · scope: ICC (Western) Construction Ltd. (entity level, bankrupt estate) · currency: CAD · total assets: 50001 · total liabilities: 8269286.49
- secured creditorsnote: Has not submitted a proof of claim as of date of report · page: 3 · as of: 2023-04-11 · debtor: ICC (Western) Construction Ltd. · creditor: Britco Boxx Limited Partnership · currency: CAD · security: Registered security interest in a 2018 trailer (BC PPR search)
- secured creditorsnote: Deemed trust claim, ranks in priority to all other creditors; proof of claim not yet received; unremitted GST would rank as general unsecured claim · page: 3 · as of: 2023-03-21 · amount: 582324.68 · debtor: ICC (Western) Construction Ltd. · creditor: Canada Revenue Agency (CRA) · currency: CAD · security: Deemed trust claim over unremitted payroll source deductions
- secured creditorsnote: Secured to the extent of $2,000 per employee for wages/vacation pay owed in six months preceding bankruptcy · page: 3 · as of: date of bankruptcy · amount: 2000 · debtor: ICC (Western) Construction Ltd. · creditor: Employees (wage earners) · currency: CAD · security: Statutory security under BIA s.81.3(1) over current assets (cash, accounts receivable, inventory) to extent of $2,000 per employee
- secured creditorsnote: Filed proofs of claim for secured creditors total $31,108.00 as of date of report · page: 3 · as of: Statement of Affairs · amount: 50002 · debtor: ICC (Western) Construction Ltd. · creditor: Secured creditors (aggregate per Statement of Affairs) · currency: CAD
- unsecured creditorsnote: Document names no individual creditors; proofs of claim filed for unsecured creditors total $1,250,811.90 as of date of report · page: 3 · as of: Statement of Affairs · basis: Statement of Affairs as reported · amount: 8219284.49 · debtor: ICC (Western) Construction Ltd. · creditor: Unsecured creditors (aggregate as reported) · currency: CAD
- unsecured creditorsnote: Preferred/priority claim for wages and compensation under BIA s.81; administered through Wage Earner Protection Program (WEPP) · page: 4 · as of: date of bankruptcy · basis: Trustee estimate based on information provided by Directors · amount: 46752.32 · debtor: ICC (Western) Construction Ltd. · creditor: Employees (WEPP priority claim) · currency: CAD
- provinceBritish Columbia