Alberta · Bankruptcy
Trustee's Report on Preliminary Administration
Court officer report · undated
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What we verified from this filing14 verified
- appointeeHudson & Company Insolvency Trustees Inc.
- appointee roleLicensed Insolvency Trustee
- commencement date16 August 2023
- court file noBKY 25-2976059
- proceeding typebia_bankruptcy
- statutory basisSection 49(1) of the Bankruptcy and Insolvency Act
- statutory basisSection 49(1) of the Bankruptcy and Insolvency Act
- secured creditorsnote: No individual balance stated; Trustee's review of PPR only confirms ranking, not amount. · page: 2 · debtor: 2173381 Alberta Ltd o/a Fatburger · creditor: RBC Royal Bank of Canada · currency: CAD · security: General security agreement over all present and after-acquired property of the Company; PPR shows RBC as first-ranking secured creditor
- secured creditorsnote: Deemed trust property claim for unremitted source deductions; described as 'approximately $75,000' and expected, not confirmed. If accurate, ranks in priority to all other claimants (deemed trust class). CRA has not responded to Trustee's request for an administrative fee agreement. · page: 2 · amount: 75000 · debtor: 2173381 Alberta Ltd o/a Fatburger · creditor: Canada Revenue Agency · currency: CAD
- secured creditorsnote: Claim currently being reviewed by Trustee. The director has advised the vehicle was purchased personally and is registered in his name, not the Company's, raising a dispute as to whether the claim is properly against the Company (possibly a related-party/personal matter rather than a Company debt). · page: 2 · debtor: 2173381 Alberta Ltd o/a Fatburger · creditor: BMW Canada Inc. · currency: CAD · security: Secured claim related to financing of a 2020 BMW 330i, registered on the Company's PPR
- unsecured creditorsnote: Preferred class (ranks ahead of ordinary unsecured claims); being administered through the WEPPA program. · page: 2 · basis: Preferred claims received by the Trustee from former employees for unpaid wages, vacation and termination pay · amount: 11425 · debtor: 2173381 Alberta Ltd o/a Fatburger · creditor: Former employees (preferred claims) · currency: CAD
- financial positionnote: Apparent deficit per Debtor's Statement: $362,160.32; apparent deficit per Trustee's estimate: $342,163.32. Liabilities split: Unsecured $120,805.94; Secured $298,357.38 (same in both columns). · page: 4 · basis: Schedule 'A' Estimated Realization: two columns presented - 'As Per Debtors Statement' (pledged assets $57,003.00; total liabilities $419,163.32) and 'Estimated Realization As Per Trustee' (pledged assets $77,000.00; total liabilities $419,163.32, same as debtor's figure). Total assets used here is the Trustee's estimate. · scope: 2173381 Alberta Ltd o/a Fatburger (entity level) · currency: CAD · total assets: 77000 · total liabilities: 419163.32
- secured creditorsnote: Aggregate secured liabilities as shown in Schedule 'A' Estimated Realization (same figure per Debtor's Statement of Affairs and per Trustee); document does not allocate this total among the named secured creditors (RBC, BMW Canada). · page: 4 · amount: 298357.38 · debtor: 2173381 Alberta Ltd o/a Fatburger · creditor: Secured creditors (aggregate as per Statement of Affairs) · currency: CAD
- unsecured creditorsnote: Document names no individual unsecured creditors. Trustee separately reports having received unsecured proofs of claim totalling only $23,367.79 to date (a different, lower figure than the reported Statement of Affairs amount). · page: 4 · basis: As per Debtor's Statement of Affairs (Schedule 'A' Estimated Realization) · amount: 120805.94 · debtor: 2173381 Alberta Ltd o/a Fatburger · creditor: Unsecured creditors (aggregate as reported) · currency: CAD