Alberta · Receivership (court-appointed)

Trustee's Report to Creditors - 2399499 Alberta Ltd.

Court officer report · 13 March 2023

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 filing1 verified

financial positionnote: No total assets or total liabilities are stated. Components only: secured claims — MPRE GP Dev Inc. mortgage approx. $10,749,000 as at the date of Receivership (principal $10,106,096 plus interest and costs); City of Edmonton property taxes approx. $157,735; CRA deemed trust and WCB priority claim amounts unknown (no proofs of claim filed); 12 unsecured creditors owed approx. $11,458. The Company is registered owner of three properties (Harvest, Sask Drive, Scona Garage), being realized by the Receiver with NAI engaged to market them; no valuation is given. The report states there are no assets available for realization by the Trustee, and that it is unknown whether the Receivership recoveries will repay secured claims in full or whether unsecured creditors will recover. · basis: The Company had no externally compiled or internally prepared financial statements; only bank statements were obtained and reviewed by the Receiver. Secured and unsecured claim figures are per the Company's books and records and the Personal Property Registry. · scope: Single entity: 2399449 Alberta Ltd. (449 Alberta), bankrupt estate · currency: CAD