British Columbia · Bankruptcy
ACP - Trustee's Preliminary Report
Court officer report · 21 September 2023
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What we verified from this filing5 verified
- cash on handnote: Also US$185 on hand at date of bankruptcy · as at: 2023-08-31 · amount: 13756 · currency: CAD
- financial positionnote: Cash on hand at date of bankruptcy: C$13,756 and US$185; estimated realizable value of other assets (office furniture/equipment, prepaid insurance, outstanding management fees, equity interests) is nil; claims per statement of affairs: Secured claim approximately $50.0 million (Grofondi Debt, estimated at approx. $51.6 million at date of bankruptcy); Unsecured claims approximately $10.0 million, excluding secured creditor's deficiency claim estimated at approximately $50.0 million. · as at: 2023-08-31 · basis: Statement of affairs disclosures and Trustee's preliminary estimate of realizable value · scope: Adventus Capital Partners Ltd. (the bankrupt estate) only, not consolidated with other Adventus/Canadian Affiliate entities · currency: CAD
- operational summaryACP, the Vancouver-based management affiliate of the Adventus real estate group, ceased active management operations upon bankruptcy; its remaining assets have an estimated realizable value of nil and no distribution to unsecured creditors is anticipated.
- recovery outcomeentries: basis: estimated · quote: Accordingly, it is anticipated that there will be no distribution to unsecured creditors of ACP. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: unsecured creditors · interim final: unstated · claims qualifier: estimated · stated on: 2023-09-21 · table missing:
- report date21 September 2023