Alberta · Receivership (court-appointed)
First Report of Receiver – filed Feb 18, 2020
Court officer report · 18 February 2020
What we verified from this filing7 verified
- secured creditorsnote: Approximate amount owed ('approximately $4.2 Million'); partial interim distribution of $3,996,865.22 proposed on account of this debt. · page: 9 · as of: February 14, 2020 · amount: 4200000 · debtor: AAA Holdings Ltd. · creditor: Canadian Western Bank · currency: CAD · security: Security interests over Holdings' assets (confirmed valid and enforceable by independent legal opinion)
- secured creditorsnote: Proposed to be paid in full via interim distribution · page: 9 · amount: 166436.6 · debtor: AAA Holdings Ltd. · creditor: The City of Calgary · currency: CAD · security: Priority charge for property tax arrears against the Property
- unsecured creditorsnote: Deemed trust claim (quasi-governmental); amount described as 'estimated to be at least $235,000' - stated as a floor · page: 10 · basis: Receiver's estimate of pending deemed trust claim relating to unremitted source deductions · amount: 235000 · debtor: AAA Windows Ltd. · creditor: Canada Revenue Agency · currency: CAD
- closing confirmedscope: the Property · outcome: completed · effective: 2020-01-27 · purchaser: 2214308 Alberta Inc. · date basis: stated · approval order date: 2020-01-27; scope: Windows' assets · outcome: completed · effective: 2020-01-27 · purchaser: A-Apollo Windows and Doors Ltd. · date basis: stated · approval order date: 2020-01-27
- purchaser2214308 Alberta Inc.; A-Apollo Windows and Doors Ltd.
- recovery outcomeentries: basis: estimated · quote: The City of Calgary - $166,436.60 representing payment in full on account of property tax arrears forming a priority charge against the Property; and · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: receiver · amount low: 166436.6 · cumulative: false · amount high: 166436.6 · class label: The City of Calgary · creditor name: The City of Calgary · interim final: unstated · related party: false · claims qualifier: unstated; basis: estimated · quote: CWB - $3,996,865.22 representing a partial payment on account of the n t s security interests. · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · amount low: 3996865.22 · cumulative: false · amount high: 3996865.22 · class label: CWB · creditor name: CWB · interim final: interim · related party: false · claims qualifier: unstated; basis: estimated · quote: The Receiver anticipates that in light of CRA's pending deemed trust claim relating to Windows' unremitted source deductions, estimated to be at least $235,000, any residual proceeds available after satisfaction of the Receiver's Charge provided for by paragraph 18 of the Receivership Order will be distributed to CRA. · pct of: unstated · outcome: distribution · class key: deemed_trust · stated by: receiver · class label: CRA (deemed trust claim - Windows unremitted source deductions) · claims amount: 235000 · creditor name: CRA · interim final: unstated · conditional on: any residual proceeds available after satisfaction of the Receiver's Charge · claims qualifier: estimated; basis: unstated · quote: The Receiver does not propose to make a distribution in respect of Windows at this time pending the completion of an anticipated audit by CRA. · pct of: unstated · outcome: nil · stated by: receiver · class label: AAA Windows Ltd. creditors · interim final: unstated · conditional on: pending the completion of an anticipated audit by CRA · claims qualifier: unstated · stated on: 2020-02-14 · table missing:
- sale outcometext: The sales to 221 Alberta and A-Apollo have closed, with post-closing matters outstanding · scope: whole_business · status: closed