Quebec · NOI
Trustee's Preliminary Report to Creditors dated may 17, 2023
Court officer report · 17 May 2023
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What we verified from this filing12 verified
- courtS U P E R I O R C O U R T
- court file no500-11-062174-236
- provinceQUEBEC
- appointeeDeloitte Restructuring Inc.
- appointee roleTrustee
- commencement date27 April 2023
- cash on handnote: Based on the cash balance received by the Trustee at the time of the bankruptcy. · as at: 2023-04-27 · amount: 5815118 · currency: CAD · qualifier: estimated realization value
- financial positionnote: Deficit following distribution to secured creditors estimated at (43,530,250); figures are Management's estimated net realization values, not book values, and remain subject to Trustee review. · as at: 2023-04-27 · basis: Estimated realization value is before any costs related to the liquidation of the assets and to the administration of the bankrupt estate; based on Statement of Affairs values determined by RenoRun's Management. · scope: RenoRun Inc. (the Bankrupt entity, estate level) · currency: CAD · total assets: 8106789 · total liabilities: 51637039
- operational summaryRenoRun ceased operations after a failed sale and investment solicitation process, was deemed to have made an assignment into bankruptcy, and the Trustee has since secured its assets and is conducting a liquidation sale process on an as-is, where-is basis.
- recovery outcomeentries: basis: estimated · quote: As illustrated in the Statement of Affairs (summarized above), based on the information received from Management, the Trustee estimates that the proceeds that will be realized from the liquidation of all of RenoRun's assets could be sufficient to substantially or even fully reimburse the secured creditors. · pct of: unstated · outcome: distribution · class key: secured · stated by: trustee · class label: Secured creditors · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: Therefore, based on the information currently on hand, it is estimated that residual funds could be available for the distribution of a dividend to the unsecured creditors of RenoRun following the realization of all of the Bankrupt's assets and payment of professional fees and the conservative and protective measures related costs. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: trustee · class label: Unsecured creditors · interim final: unstated · claims qualifier: unstated · table missing:
- report date17 May 2023
- report noTrustee's Preliminary Report to Creditors