Manitoba · Receivership (court-appointed)
1. First Report of the Receiver
Court officer report · 25 April 2011
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 filing11 verified
- applicantRoyal Bank of Canada
- appointeeErnst & Young Inc.
- appointee roleReceiver of the Respondents
- courtTHE QUEEN'S BENCH
- court file noCI 11-01-71369
- statutory basissection 243 of the Bankruptcy and Insolvency Act R.S.C. 1985 c.B-3 as amended
- commencement date6 April 2011
- operational summaryThe Receiver determined a going-concern en bloc sale was not possible and began winding down operations on April 13, 2011, completing certain in-process orders; 42 employees remained as of April 22, with the final shipment of finished goods scheduled for April 26. The Receiver seeks approval of a sale of certain assets of 237 and 581 for $34,000.
- recovery outcomeentries: basis: estimated · quote: At this time the Receiver does not anticipate that there will be any funds available for distribution to unsecured creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: receiver · class label: unsecured creditors · interim final: unstated · table missing: · conditional on: at this time · claims qualifier: unstated · stated on: 2011-04-15 · table missing:
- report date25 April 2011
- report noFirst Report of the Receiver