British Columbia · Bankruptcy
Trustee's Second Report to Court dated February 22, 2021.pdf
Court officer report · 22 February 2021
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What we verified from this filing9 verified · 1 withheld
- cash on handnote: Funds on hand before payment of outstanding professional fees or WEPP Super-Priority · as at: 2021-01-31 · amount: 618000 · currency: CAD · qualifier: approximately
- disbursementssince: Bankruptcy Date (August 27, 2020) · amount: 66409.22 · currency: CAD
- operational summaryThe Bankrupt's hotel had already ceased operating prior to bankruptcy and only the restaurant remained in operation; the Trustee is now focused on realizing remaining assets (furniture, liquor licences, inventory) amid disputed landlord property claims and limited cooperation from management.
- purchaserTA Properties (Canada) Ltd.
- receipts cumulativenote: Interim Statement of Receipts and Disbursements for the period from the Bankruptcy Date to January 31, 2021 · since: Bankruptcy Date (August 27, 2020) · amount: 683972.22 · currency: CAD
- recovery outcomeentries: basis: estimated · quote: The failure of Mr. Medd and Mr. Yip to act impartially must be viewed in the context of the anticipation from the outset of the bankruptcy that there will be no recovery for unsecured creditors after satisfying the Landlords' preferred claims. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: unsecured creditors · interim final: unstated · conditional on: after satisfying the Landlords' preferred claims · claims qualifier: unstated · stated on: 2021-02-22 · table missing:
- report date22 February 2021
- report noSecond Report
- sale outcometext: Credit Bids from the Landlords were found unacceptable and revised bids were not received; the Trustee requires court directions to sell or dispose of the Bankrupt's Property · scope: whole_business · status: not_completed
1 extracted value is withheld: either a trap-shaped field where models produce confident wrong numbers, or an identity value whose quotation could not be found in the document. Withheld values are shown to no one.