British Columbia · Winding-up (provincial)
Preliminary Report of the Proposed Liquidator
Pre-filing report · 17 February 2016
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 filing5 verified
- financial positionnote: Total assets figure is 'Total Cash on Hand' only (cash and cash equivalents, short-term investments, escrow deposits), not a full balance sheet; excludes Potential Additional Recovery items (Due from Directors $481,368 as of June 30, 2015, and Holdback Difference $58,906) which are disclosed separately and not included in distributable amount on a conservative basis · page: 30 · as at: 2016-01-31 · basis: draft unaudited - sourced from trial balances and bank statements of FCC GIC as at January 31, 2016; figures subject to change as Consolidated Financial Statements not yet closed · scope: entity-level, FCC Group Investment Corporation (Cash on Hand and Existing Liabilities as presented in Net Proceeds calculation) · currency: CAD · total assets: 26120584 · total liabilities: 4726306
- unsecured creditorsnote: Represents return of capital of $50,000 undistributed to 73 shareholders as at January 31, 2016; draft figures subject to change as consolidated financial statements not yet closed · page: 30 · as of: 2016-01-31 · basis: Existing liabilities per trial balances and bank statements as of January 31, 2016 · amount: 3650000 · debtor: FCC Group Investment Corporation · creditor: 2014 Distribution outstanding (undistributed return of capital to shareholders) · currency: CAD
- unsecured creditorsnote: Draft figures subject to change · page: 30 · as of: 2016-01-31 · basis: Existing liabilities per trial balances and bank statements as of January 31, 2016 · amount: 33406 · debtor: FCC Group Investment Corporation · creditor: Accounts payable and accrued liabilities (including Government of Saskatchewan PST assessment $33,097 and other misc. payables ~$309) · currency: CAD
- unsecured creditorsnote: Party(ies) to whom liability is owed not yet identified; draft figure · page: 32 · as of: 2016-01-31 · basis: Existing liabilities per trial balances and bank statements as of January 31, 2016 · amount: 46000 · debtor: FCC Group Investment Corporation · creditor: Deposits on shares · currency: CAD
- unsecured creditorsnote: Table shows evolution from $421,500 (2006) to $996,900 (2015); figure used in Jan 31, 2016 distribution calculation as $996,900 · page: 32 · as of: 2015-06-30 · basis: Existing liabilities per FCC GIC Consolidated Financial Statements · amount: 996900 · debtor: FCC Group Investment Corporation · creditor: Due to shareholders (uncashed capital distribution cheques, 2002-2015) · currency: CAD