British Columbia · Bankruptcy
Trustee's Preliminary Report to Creditors
Court officer report · 2 October 2024
What we verified from this filing17 verified
- appointeeMNP Ltd.
- appointee roleLicensed Insolvency Trustee
- commencement date9 September 2024
- courtIN THE SUPREME COURT OF BRITISH COLUMBIA
- court file no11-3125845
- statutory basisthe Bankruptcy and Insolvency Act
- financial positionnote: Total liabilities per Statement of Affairs comprised of secured $1,250,426.28 (per SoA, but see Statement of Affairs column showing $1.00), preferred nil, unsecured $6,532,444.15, total $6,532,445.15 as reported in Statement of Affairs; Assets consist of Other Property valued at $1.00 (residual funds from Receivership); no assets expected available for unsecured creditors after priority and secured claims · page: 2 · basis: Statement of Affairs as filed · scope: Newgrind Inc. (single entity, bankrupt estate) · currency: CAD · total assets: 1 · total liabilities: 6532445.15
- secured creditorsnote: PPR search January 2, 2024; claim under review by Trustee, amount not yet confirmed · page: 2 · as of: 2024-01-02 · debtor: Newgrind Inc. · creditor: Canacap · currency: CAD · security: Registered security interest (BC PPR)
- secured creditorsnote: PPR search January 2, 2024; claim under review by Trustee, amount not yet confirmed · page: 2 · as of: 2024-01-02 · debtor: Newgrind Inc. · creditor: CWB National Leasing · currency: CAD · security: Registered security interest (BC PPR)
- secured creditorsnote: PPR search January 2, 2024; claim under review by Trustee, amount not yet confirmed · page: 2 · as of: 2024-01-02 · debtor: Newgrind Inc. · creditor: Driven Technologies Corporation · currency: CAD · security: Registered security interest (BC PPR)
- secured creditorsnote: PPR search January 2, 2024; claim under review by Trustee, amount not yet confirmed; possible regulatory/statutory lien · page: 2 · as of: 2024-01-02 · debtor: Newgrind Inc. · creditor: British Columbia Ministry of Finance · currency: CAD · security: Registered security interest (BC PPR)
- secured creditorsnote: PPR search January 2, 2024; claim under review by Trustee, amount not yet confirmed · page: 2 · as of: 2024-01-02 · debtor: Newgrind Inc. · creditor: Vault Credit Corporation · currency: CAD · security: Registered security interest (BC PPR)
- secured creditorsnote: PPR search January 2, 2024; claim under review by Trustee, amount not yet confirmed; RBC agreed bankruptcy administration costs paid in priority to its security · page: 2 · as of: 2024-01-02 · debtor: Newgrind Inc. · creditor: Royal Bank of Canada (RBC) · currency: CAD · security: Registered security interest (BC PPR)
- secured creditorsnote: Deemed trust class, ranks ahead of all other creditors; proof of claim not yet received; approx. $36,000 remitted to CRA in 2024 but unclear if full amount owing; amount unknown/unconfirmed · page: 2 · debtor: Newgrind Inc. · creditor: Canada Revenue Agency (CRA) · currency: CAD · security: Deemed trust claim over unremitted payroll source deductions
- unsecured creditorsnote: Document names no individual unsecured creditors; proofs of claim filed to date total $395,932.35 (9 proofs of claim filed as of report date), a much lower figure than the Statement of Affairs amount · page: 2 · as of: Statement of Affairs filed · basis: Statement of Affairs as reported · amount: 6532444.15 · debtor: Newgrind Inc. · creditor: Unsecured creditors (aggregate as reported) · currency: CAD
- secured creditorsnote: Five wage earners processed through WEPP; secured to extent of $2,000 each per BIA · page: 3 · amount: 7804.88 · debtor: Newgrind Inc. · creditor: Wage earners (Wage Earner Protection Program claims) · currency: CAD · security: Statutory security under BIA s.81.3(1) over current assets, to extent of $2,000 per employee
- provinceBritish Columbia