Quebec · NOI

Report of the Trustee on the Financial Situation of the Debtor and on the Proposal • August 4, 2006

Court officer report · 4 August 2006

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: Components only, no stated totals. Assets: Trust Account ~$887,000 (required for post-filing obligations); funds held in escrow amount not specified; accounts receivable book value ~$1,407,000 (incl. ~$1,200,000 litigious), Statement of Affairs estimated realization value $500,000; other assets (deposits etc.) ~$60,000; ITC receivable amount/timing unknown; surplus from Century's sale not currently determinable. Liabilities: Secured creditor (HSBC) $2,141,000; preferred creditors - Company unaware of any amounts owing to governmental authorities that would be considered preferred; proposal expenses (unpaid Trustee/Interim Receiver fees $150,000 + unpaid legal fees $50,000) = $200,000 (excludes fees for services after July 28, 2006); post filing goods and services expenses ~$1,190,000; ordinary creditors amount not yet reconciled/listed. · as at: 2006-07-28 · basis: Trustee makes no representations or warranty as to accuracy; book value/management estimates from Statement of Affairs; not all books and records up to date · scope: entity - D & F Furniture Ltd. · currency: CAD