Nova Scotia · Receivership (court-appointed)
Third Report to Court - March 15, 2013
Court officer report · 15 March 2013
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What we verified from this filing7 verified
- financial positionnote: Equity was negative at 981,225 Krone; there was a gain on sale of land/building of 4,100,000 Krone; KSN owes Karlsen approximately 2,927,000 Krone; figures are from KSN's internally produced December 31, 2012 statements, the most recent available. · as at: 2012-12-31 · basis: internally produced financial statements (unaudited, provided by KSN's sole director) · scope: Karlsen Shipping Norway AS (KSN), a wholly-owned subsidiary of the debtor Karlsen Shipping Company Limited — not the debtor's own consolidated financial position · currency: NOK · total assets: 1834833 · total liabilities: 2816059
- operational summaryThe receivership is winding down non-operating remnants of the debtor's business, focused on disposing of the shares in its Norwegian subsidiary KSN (which the Receiver views as having no value) and on determining and distributing a $200,000 maritime lien fund among claimants.
- purchaser3264741 Nova Scotia Limited
- recovery outcomeentries: basis: estimated · quote: Thus, in order to pay all claimants on a pari passu basis each claimant would receive 46.05% of their claim. · pct of: unstated · outcome: distribution · pct low: 46.05 · currency: CAD · pct high: 46.05 · class key: secured · stated by: receiver · class label: Maritime Lien claimants · claims amount: 434298.16 · interim final: unstated · currency quote: The dollar amounts identified in this report are expressed in Canadian dollars unless otherwise specified. · claims qualifier: asserted · stated on: 2013-03-08 · table missing:
- report date8 March 2013
- report noThird Report
- sale outcometext: the Receiver respectfully seeks this Honourable Court's approval of the Asset Sale Agreement · scope: parcel · status: pending_approval