British Columbia · Receivership (court-appointed)
First report of the receiver dated june 1 2017
Court officer report · 1 June 2017
A plain-language read of this filing opens with a subscription.
What we verified from this filing19 verified
- applicantROYAL BANK OF CANADA
- courtIN THE SUPREME COURT OF BRITISH COLUMBIA
- court file noS172571
- appointeeMNP Ltd.
- appointee roleReceiver
- commencement date22 March 2017
- secured creditorsnote: Approximate amount owing; appraised liquidation value of trailer only ~$12,500; Receiver requested copy of security/financing agreement for review · page: 5 · as of: date of receivership · amount: 62000 · debtor: 0774660 BC Ltd. · creditor: The Toronto-Dominion Bank · currency: CAD · security: PPR registration against an Alpine Trailer
- secured creditorsnote: Payout balance provided to Receiver but not stated in document; RBC described as senior secured creditor in these proceedings; also provided post-filing Receiver's Certificate financing of $50,000 (not a pre-filing balance) · page: 5 · debtor: 0774660 BC Ltd. · creditor: Royal Bank of Canada · currency: CAD · security: Lease/financing agreement (RBC Lease) over vehicles; Receiver's Certificate borrowing up to $50,000 principal
- secured creditorsnote: Payout balance provided to Receiver but not stated in document; assets released to BMO as no equity · page: 5 · debtor: 0774660 BC Ltd. · creditor: Bank of Montreal · currency: CAD · security: Lease/financing agreement over vehicles
- secured creditorsnote: Payout balance provided to Receiver but not stated in document; assets released as no equity; also named respondent in style of cause · page: 5 · debtor: 0774660 BC Ltd. · creditor: Mercado Capital Corporation, Div. of Westminster Savings Credit Union · currency: CAD · security: Lease/financing agreement over vehicles
- secured creditorsnote: Payout balance provided to Receiver but not stated in document; assets released as no equity · page: 5 · debtor: 0774660 BC Ltd. · creditor: Daimler Truck Financial · currency: CAD · security: Lease/financing agreement over vehicles
- secured creditorsnote: Payout balance provided to Receiver but not stated in document; assets released as no equity · page: 5 · debtor: 0774660 BC Ltd. · creditor: CIT Financial Ltd. · currency: CAD · security: Lease/financing agreement over vehicles
- secured creditorsnote: Payout balance provided to Receiver but not stated in document; assets released as no equity · page: 5 · debtor: 0774660 BC Ltd. · creditor: National Leasing Group Inc. · currency: CAD · security: Lease/financing agreement over vehicles
- secured creditorsnote: Related party (appears controlled by Mr. Patterson's mother); Receiver not in possession of loan/security documentation and has not obtained legal opinion on validity/enforceability · page: 6 · debtor: 0774660 BC Ltd. · creditor: Patterson Cattle Company Ltd. · currency: CAD · security: PPSA financing statement (2007) registered against 2007 Tremcar Quad Tank Trailer
- unsecured creditorsnote: Lien was paid out by Receiver during administration; effectively secured by possession prior to payment · page: 6 · basis: Possessory repairer's lien for unpaid repairs, paid by Receiver to take possession of vehicle · amount: 2180.12 · debtor: 0774660 BC Ltd. · creditor: Nortech Welding & Fabricating Inc. · currency: CAD
- unsecured creditorsnote: Deemed trust class; amount unknown/being investigated by Receiver · page: 9 · basis: Claims pertaining to unremitted payroll source deductions and GST/HST, still being investigated · debtor: 0774660 BC Ltd. / S. Patterson Trucking Ltd. · creditor: Canada Revenue Agency · currency: CAD
- unsecured creditorsnote: Additional unremitted assessments for Patterson Trucking (2016 to date of receivership) still being determined · page: 9 · as of: date of receivership · basis: Unremitted assessments for 2015, as reported by Receiver · amount: 5066 · debtor: 0774660 BC Ltd. · creditor: WorkSafeBC · currency: CAD
- unsecured creditorsnote: Preferred - statutory priority claim ranking ahead of all registered security interests in relation to Patterson Trucking's current assets; wage arrears owing to six employees · page: 9 · basis: Maximum amount payable under Section 81.4 of the Bankruptcy and Insolvency Act, as reported by Receiver · amount: 10230 · debtor: S. Patterson Trucking Ltd. · creditor: Service Canada (Wage Earner Protection Program Act) · currency: CAD
- proceeding typereceivership_court