Alberta · Bankruptcy
Fifth Report of the Trustee
Court officer report · 2 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 filing8 verified
- cash on handnote: Consolidated across the PLG Group estates, held in trust by the Trustee. Separately, Field LLP holds the BMO Funds in trust and approximately $26,800 in Settlement Funds (Concure and Volker Stevin settlements), not included in this figure. · as at: 2016-02-02 · amount: 267145 · currency: CAD · qualifier: approximately $267,100 per narrative
- disbursementsnote: Narrative states approximately $3.6 million; Schedule 2 total disbursements are $3,564,720. Includes about $1.8 million paid on the CRA Claims and $255,500 on the WEPP Claims. · since: date of bankruptcy (October 2013), to February 2, 2016 · amount: 3564720 · currency: CAD
- operational summaryThe PLG Group, a construction contractor, is bankrupt (assignments made October 2013). The Trustee has liquidated assets and collected receivables, and is seeking court approval of the Chandos and Lockerbie-Intact settlements and of further distributions to pension and health fund priority claimants and to PNC.
- professional feesnote: Fees and disbursements net of GST. Trustee's legal counsel Field LLP paid approximately $427,600 (net of GST) for the period ended November 30, 2015; conflict counsel Wilson Laycraft LLP paid $26,700 (net of GST) for the period ended December 30, 2015. All invoices approved by the estate inspectors. · party: Deloitte Restructuring Inc. (the Trustee) · amount: 664000 · period: period ended January 4, 2016 · currency: CAD
- receipts cumulativenote: Narrative states approximately $3.8 million; Schedule 2 total receipts are $3,831,865. Includes auction proceeds of approximately $1.6 million, accounts receivable of approximately $1.9 million, about $197,300 swept by PNC from the BMO Accounts, and miscellaneous receipts of about $126,900. · since: date of bankruptcy (October 2013), to February 2, 2016 · amount: 3831865 · currency: CAD
- recovery outcomeentries: basis: actual · quote: The CRA Claims due to Con-forte, Asty and PLG Residential were paid in full. · pct of: unstated · outcome: paid_in_full · class key: deemed_trust · stated by: trustee · class label: CRA Claims due to Con-forte, Asty and PLG Residential · creditor name: CRA · interim final: unstated · claims qualifier: unstated; basis: actual · quote: The WEPP Claims due in respect of Con-Forte, Asty and PLG Residential were paid in full. · pct of: unstated · outcome: paid_in_full · class key: weppa · stated by: trustee · class label: WEPP Claims due in respect of Con-Forte, Asty and PLG Residential · creditor name: HRDC · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: The WEPP Claims due in respect of SMRI and PLG Corporate remain outstanding as there are insufficient funds held in trust for those entities to pay the corresponding WEPP Claims at this time. · pct of: unstated · outcome: nil · class key: weppa · stated by: trustee · class label: WEPP Claims due in respect of SMRI and PLG Corporate · creditor name: HRDC · interim final: unstated · conditional on: insufficient funds held in trust for those entities to pay the corresponding WEPP Claims at this time · claims qualifier: unstated · stated on: 2016-02-02 · table missing:
- report date2 February 2016
- report noFifth Report