Alberta · Receivership (court-appointed)
Supplemental Report to the First Report of the Trustee
Court officer report · 17 April 2025
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 filing4 verified
- operational summaryThe bankrupt estate is before the court on the Trustee's application for a Preferential Transactions Order; the report responds to the Reed Affidavit on post-appointment rent paid by the Receiver, recoveries to creditors, alleged shareholder loans and the Business Division Agreement. The Receiver vacated and disclaimed the Wembley and Gibbons premises in August 2022.
- recovery outcomeentries: basis: actual · quote: During the Receivership Proceedings, CWB was repaid in full and a distribution of $2.0 million was made to Crown LP (payment was made on August 25, 2022) in respect of its senior secured second lien debt, leaving Crown LP with a significant shortfall of approximately $20.7 million of senior secured debt owing to it and nil recovery to the unsecured creditors. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: trustee · class label: CWB · creditor name: CWB · interim final: unstated · related party: false · claims qualifier: unstated; basis: actual · quote: During the Receivership Proceedings, CWB was repaid in full and a distribution of $2.0 million was made to Crown LP (payment was made on August 25, 2022) in respect of its senior secured second lien debt, leaving Crown LP with a significant shortfall of approximately $20.7 million of senior secured debt owing to it and nil recovery to the unsecured creditors. · pct of: unstated · outcome: shortfall · class key: secured · stated by: trustee · class label: Crown LP · creditor name: Crown LP · interim final: unstated · claims qualifier: unstated · shortfall amount: 20700000; basis: actual · quote: During the Receivership Proceedings, CWB was repaid in full and a distribution of $2.0 million was made to Crown LP (payment was made on August 25, 2022) in respect of its senior secured second lien debt, leaving Crown LP with a significant shortfall of approximately $20.7 million of senior secured debt owing to it and nil recovery 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 · stated on: 2025-04-17 · table missing:
- report date17 April 2025
- report noSupplemental Report to the First Report