Alberta · Receivership (court-appointed)
First Report of the Receiver
Court officer report · 28 September 2007
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 filing11 verified
- courtIN THE COURT OF QUEEN'S BENCH OF ALBERTA JUDICIAL CENTRE OF CALGARY
- court file no4801-123478
- appointeeErnst & Young Inc.
- appointee roleReceiver – Manager
- commencement date24 August 2007
- proceeding typereceivership_court
- unsecured creditorsnote: Owed significant amounts of professional fees from CML; stopped work until paid; amount not quantified in document · page: 8 · basis: Narrative disclosure, amount not stated · debtor: CML Resources Ltd · creditor: Dowwest Management Accounting Ltd · currency: CAD
- financial positionnote: Figures explicitly caution as preliminary and subject to revision; estimated net assets of $301,363 reported by Receiver. Separate personal asset schedule for Grant Milton Maglis shows total known/potential assets of $1,727,684 as at report date (no corresponding personal liabilities stated). · page: 10 · as at: 2007-09-14 · basis: Receiver's preliminary financial analysis based on incomplete and unreconciled books and records; oil & gas properties and other assets and other liabilities listed as 'Unknown' and excluded from totals shown · scope: CML Resources Ltd only (entity-level); does not include TOJOKO, Blackshell or Silgam for which little/no financial information was located · currency: CAD · total assets: 930817 · total liabilities: 629454
- unsecured creditorsnote: Comprised of Utilities $26,750, Consulting & professional fees $108,921, and Estimated outstanding trade payables $250,457; document names no individual creditors within this aggregate · page: 10 · as of: 2007-09-14 · basis: Receiver's preliminary financial analysis - known & estimated liabilities table · amount: 386128 · debtor: CML Resources Ltd · creditor: Other payables (utilities, consulting & professional fees, estimated outstanding trade payables, aggregate as reported) · currency: CAD
- unsecured creditorsnote: Outstanding crown royalties; Receiver issued cheque for full amount on Sept 13, 2007 to bring account up to date · page: 12 · as of: 2007-09-13 · basis: Receiver's preliminary financial analysis of known & estimated liabilities · amount: 10649.1 · debtor: CML Resources Ltd · creditor: Alberta Energy · currency: CAD
- unsecured creditorsnote: Unpaid royalties; SIR advised additional amounts owing in other departments may exist and would be provided shortly · page: 13 · as of: 2007-09-14 · basis: Receiver's preliminary financial analysis of known & estimated liabilities · amount: 232000 · debtor: CML Resources Ltd · creditor: Saskatchewan Industry Resources (SIR) · currency: CAD