British Columbia · Receivership (court-appointed)
Proposed Receiver's Report
Pre-filing report · 27 March 2025
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What we verified from this filing7 verified
- financial positionnote: Assets ($9,202,528 book value; $3,553,771 realizable value) are stated as at the date of the Proposed Receiver's Report (March 18, 2025); liabilities ($15,023,974 per Statement of Affairs; $14,654,848 per proofs of claim filed as of Feb 20, 2025) are stated as at the FMOC (Feb 21, 2025) — the two sides use different as-at dates. Appendix A separately notes that 'the secured creditor amount listed on the Statement of Affairs was presented as the value of the Company's asset value due to form limitations,' i.e., the SoA secured-liabilities figure may reflect asset values rather than true debt balances. · page: 9 · basis: Assets at unaudited book value per Company's books and records, with realizable value largely 'Unknown' (only $3,553,771 of realizable value identified); liabilities per Statement of Affairs as tabulated by the Trustee. · scope: Victorian Epicure Inc. (single entity, non-consolidated) · currency: CAD · total assets: 9202528 · total liabilities: 15023974
- unsecured creditorsnote: Filed proofs of claim (unsecured) as at Feb 20, 2025, 6:00pm Pacific, totalled $3,727,495 (a different, lower figure than the SoA estimate). The pages provided do not contain a complete itemized creditor list; a single fragment page of Form 78 (List of Liabilities, items 86-89) names four example unsecured creditors: Workplace Safety and Insurance Board ($1,275.22), Worlee Natural Products Canada Inc. ($14,641.73), Yamasa Corporation USA ($21,427.35), and Zayer Automations Inc. ($3,255.00), but the full schedule (hundreds of Ambassador and trade claims) is not included in these pages. · page: 11 · as of: FMOC date (2025-02-21) · basis: Statement of Affairs as reported by the Trustee · amount: 5771903 · debtor: Victorian Epicure Inc. · creditor: Unsecured creditors (aggregate as reported) · currency: CAD
- unsecured creditorsnote: Preferred class (BIA s.81.3(1) wage-earner claims), ranking ahead of ordinary unsecured creditors. Statement of Affairs originally reported this class as Nil. · page: 11 · as of: Filed proofs of claim as of 2025-02-20 · basis: Filed proofs of claim tabulated by the Trustee · amount: 118029 · debtor: Victorian Epicure Inc. · creditor: Preferred creditors (aggregate as reported) · currency: CAD
- secured creditorsnote: Debt comprised of demand/fixed-rate loans $1,970,977, operating line of credit $8,412,971, and secured credit cards $49,997 (sum shown in document is internally inconsistent by ~$10,000). BMO's security validity confirmed by independent Security Opinion obtained Feb 11, 2025 under BIA s.13.4(1). BMO is one of three secured creditors whose filed secured proofs of claim aggregated $10,809,324 as at the FMOC (Feb 21, 2025) (with Toyota Credit Canada Inc. and Meridian Onecap Credit Corp); individual filed-proof amount for BMO not separately stated. BMO's debt is also reported to be secured against 644303 BC Ltd. (the Landlord/related party), which owns the Premises. · page: 12 · as of: 2025-01-27 (Bankruptcy Date) · amount: 10443945 · debtor: Victorian Epicure Inc. · creditor: Bank of Montreal (BMO) · currency: CAD · security: General Security Agreement (blanket); also PMSI-style registrations against 2 Scissor lifts, 1 Forklift Truck, 1 Forklift, 2 Caterpillars, 1 Nissan
- secured creditorsnote: PPSA registrant per BC search performed Jan 6, 2025; not among the three creditors reported to have filed secured proofs of claim (BMO, Toyota Credit Canada, Meridian Onecap); amount not stated. · page: 12 · debtor: Victorian Epicure Inc. · creditor: CWB National Leasing Inc. · currency: CAD · security: PPSA registrations against 1 Forklift and Forklift batteries
- secured creditorsnote: One of three creditors (with BMO and Meridian Onecap Credit Corp) whose combined filed secured proofs of claim totalled $10,809,324; individual amount not stated in the document. · page: 12 · as of: FMOC date (2025-02-21) · debtor: Victorian Epicure Inc. · creditor: Toyota Credit Canada Inc. · currency: CAD · security: PPSA registration against 1 Vehicle (PMSI)
- secured creditorsnote: One of three creditors (with BMO and Toyota Credit Canada Inc.) whose combined filed secured proofs of claim totalled $10,809,324; individual amount not stated in the document. · page: 12 · as of: FMOC date (2025-02-21) · debtor: Victorian Epicure Inc. · creditor: Meridian Onecap Credit Corp · currency: CAD · security: PPSA registrations against forklifts (1 Forklift under one registration; 4 Forklifts under a second registration)