Quebec · Receivership (court-appointed)
Trustee’s Report to the First Meeting of Creditors – dated November 4, 2024
Court officer report · 4 November 2024
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing5 verified
- financial positionnote: Figures are in $000s, stated as book values. Estimated realizable value column shows total assets of $500K against total liabilities of $7,368K (deficiency $(6,868)K); book-value deficiency is $(759)K. Liabilities: secured $1,271K, preferred $90K, unsecured $6,007K, contingent nil. Trustee states exact liabilities will only be determined once proofs of claim are filed. The narrative gives a preferred/rent amount of $98K versus $90K in the table. · as at: 2024-10-18 · basis: Statement of Affairs prepared from the Company's books and records and completed by Richter as Receiver; "which has not been validated by the Trustee". Book value column. · scope: Single entity: Maïs Soufflé Bad Monkey Inc. / Bad Monkey Popcorn Inc. (the Bankrupt) · currency: CAD · total assets: 6609000 · total liabilities: 7368000
- operational summaryOperations had ceased before the receivership, the shareholders would no longer fund the business and no employees remained. The Trustee is running a call for tenders for the assets (bids due November 5, 2024) and is collecting receivables, and it considers it unlikely that preferred or ordinary creditors will receive any dividend.
- recovery outcomeentries: basis: estimated · quote: However, as of the date hereof, based on the estimated realizable value of the assets and the amounts due to the secured creditors, the Trustee believes it is unlikely that there will be any dividends available to the preferred and ordinary creditors. · pct of: unstated · outcome: nil · class key: preferred · stated by: trustee · class label: preferred and ordinary creditors · interim final: unstated · claims qualifier: unstated · stated on: 2024-11-04 · table missing:
- report date4 November 2024
- report noTrustee's Report to the First Meeting of Creditors