Alberta · Bankruptcy
First Report of the Trustee
Court officer report · 10 December 2013
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 filing7 verified
- cash on handnote: Funds held by the Trustee in its trust account. Separately, BMO Funds of $724,319 were paid into trust with the Trustee's legal counsel pending a determination of priority, and are not included in this figure. · as at: 2013-12-09 · amount: 519507 · currency: CAD
- disbursementsnote: Includes trustee fees $114,177, occupation rent $69,289, contract services $37,061, insurance $32,436, legal counsel $26,200 and security $25,549. · since: date of bankruptcy (October 2013), through December 9, 2013 · amount: 332255 · currency: CAD
- operational summaryThe PL Group ceased operations on October 1, 2013, before the bankruptcies. The Trustee is realizing assets through an auction run by Century Services, collecting receivables (approximately $11.8 million at bankruptcy), and administering builders' lien claims.
- professional feesnote: Net of GST. Trustee's legal counsel fees and disbursements are $26,200 (net of GST), paid for the period ended November 5, 2013. Invoices of both were approved by the Inspectors. · party: Trustee (Deloitte Restructuring Inc.) · amount: 114177 · period: period ended November 6, 2013 · currency: CAD
- receipts cumulativenote: Includes a $500,000 advance from Century Services Inc. and $324,138 of accounts receivable collected (net of GST). · since: date of bankruptcy (October 2013), through December 9, 2013 · amount: 851762 · currency: CAD
- report date10 December 2013
- report noFirst Report