Quebec · Bankruptcy
Trustee's Report on her preliminary administration
Court officer report · 26 July 2022
What we verified from this filing8 verified
- proceeding typebia_bankruptcy
- statutory basisBankruptcy and Insolvency Act
- secured creditorsnote: Nominal amount ($1.00) as per Statement of Affairs; 'Received to date' column shows nil (Ø). · page: 2 · as of: Statement of affairs · amount: 1 · debtor: 9058-0150 Quebec Inc · creditor: FWCU Capital Corp. · currency: CAD
- secured creditorsnote: Only the capital portion of the debts has been included in the Statement of Affairs. 'Received to date' column shows nil (Ø). · page: 2 · as of: Statement of affairs · amount: 1300000 · debtor: 9058-0150 Quebec Inc · creditor: Consolidated Capital G.P. · currency: CAD
- secured creditorsnote: Only the capital portion of the debts has been included in the Statement of Affairs. Amount as per Statement of Affairs; 'Received to date' column shows nil (Ø). · page: 2 · as of: Statement of affairs · amount: 4300000 · debtor: 9058-0150 Quebec Inc · creditor: 9286-2929 Québec inc. · currency: CAD
- unsecured creditorsnote: Aggregate 'Other' unsecured creditors as reported in Statement of Affairs; no individual creditors named. 'Received to date' column shows nil (Ø). · page: 2 · as of: Statement of affairs · basis: Statement of Affairs as reported · amount: 85536.71 · debtor: 9058-0150 Quebec Inc · creditor: Other · currency: CAD
- unsecured creditorsnote: Estimated shortfall of approximately $2,500,000 arising from BMO's loans to affiliate Kanwal Inc., guaranteed by SEC; Trustee unable to determine whether 9058 also guaranteed the Kanwal Inc. obligations to BMO. 'Received to date' column shows nil (Ø). · page: 2 · as of: Statement of affairs · basis: Statement of Affairs as reported · amount: 2500000 · debtor: 9058-0150 Quebec Inc · creditor: BMO – Banque de Montréal · currency: CAD
- recovery outcomeentries: basis: estimated · quote: The realization is insufficient to pay all of the secured creditors in full, therefore there is no anticipated dividend to the unsecured creditors. · pct of: unstated · outcome: shortfall · class key: secured · stated by: trustee · class label: secured creditors · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: The realization is insufficient to pay all of the secured creditors in full, therefore there is no anticipated dividend to the unsecured creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: Further to the receivership proceedings of Kanwal Inc., it is estimated that the Bank of Montreal will have a shortfall in the amount of approximately $2,500,000 with respect to its loans to Kanwal, which were guaranteed by SEC. · pct of: unstated · outcome: shortfall · class key: unsecured · stated by: trustee · class label: BMO - Banque de Montréal · claims amount: 2500000 · creditor name: BMO - Banque de Montréal · interim final: unstated · claims qualifier: listed · shortfall amount: 2500000 · stated on: 2022-07-26 · table missing: