Ontario · CCAA
Trustees Report on Preliminary Administration
Court officer report · 7 May 2024
What we verified from this filing10 verified
- closing confirmedscope: substantially all of the business and assets of Fresh City · outcome: completed · effective: 2024-04-16 · purchaser: 1000691958 Ontario Inc. and Bennett Church Hill Capital Inc. · date basis: stated · approval order date: 2024-04-03
- financial positionnote: No amounts owing to preferred creditors per Statement of Affairs; Trustee unaware of any secured creditors; liabilities figure comprises 216 unsecured creditors (~$15,325,127.00) plus Terminated Employee claims of $98,296.92. · as at: 2024-04-25 · basis: Statement of Affairs · scope: entity-only (1000843823 Ontario Inc., the bankrupt Company) · currency: CAD · total assets: 0 · total liabilities: 15423423.92
- operational summaryThe Company is a shell entity created solely to hold Fresh City's excluded contracts and liabilities following a sale transaction; it has no assets, no premises, and no ongoing operations, and was assigned into bankruptcy shortly after incorporation.
- process resultsbids: 1 · note: No bid was identified by the Bid Deadline; a credit bid was later submitted by the DIP Lender. · as of: 2024-02-29
- professional feesnote: Represents a third-party deposit from Fresh City Inc. held for payment of the Trustee's fees and disbursements, not funds of the estate; not yet an incurred fee amount. · party: PricewaterhouseCoopers Inc., LIT (Trustee) · amount: 50000 · currency: CAD
- purchaser1000691958 Ontario Inc. and Bennett Church Hill Capital Inc.
- recovery outcomeentries: basis: estimated · quote: As at the date of this report, it is anticipated that there will be no funds available for a distribution amongst the creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: creditors · interim final: unstated · claims qualifier: unstated · stated on: 2024-05-07 · table missing:
- report date7 May 2024
- report noTrustee's Report to the First Meeting of Creditors on Preliminary Administration
- sale outcometext: The Sale Transaction closed and allowed for the continuation of the operations of Fresh City and Mama Earth. · scope: whole_business · status: closed