Manitoba · Interim receivership
Report of Trustee on Proposal (Form 40)
Court officer report · 19 January 2018
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 filing1 verified
- financial positionnote: Statement of Affairs: assets $12,788,039.00 against total liabilities $17,607,870.80 (unsecured $1,092,202.80 + balance of secured claims $3,727,629.00 = $4,819,831.80; secured $12,788,039.00; preferred nil; contingent/trust nil), deficiency $4,819,831.80. The Trustee's Exhibit F lists estimated value as $12,788,038.00. Included in assets is a $1,000,000 contingent asset (Statement of Claim recovery provision), which the Trustee considers subject to secured creditors' claims. The Trustee's table of claims filed shows secured $11,699,806.35, preferred $80,123.91 and unsecured $3,253,917.16, and notes it excludes pension trust claims filed by certain unions. · as at: 2017-12-08 · basis: Debtor's Statement of Affairs (Form 78) as stated and estimated by the officer, sworn December 8, 2017; Trustee's Exhibit F shows estimated values of $12,788,038.00 and a total realizable value of $9,687,533.00, with cash, receivables, contingent claim and land realizable values stated as 'unknown' · scope: R. Litz & Sons Company Limited (single entity, the Debtor) · currency: CAD · total assets: 12788039 · total liabilities: 17607870.8