2002 01T 0352 IN THE SUPREME COURT OF NEWFOUNDLAND AND LABRADOR

2002 01T 0352
IN THE SUPREME COURT OF NEWFOUNDLAND AND LABRADOR
IN THE MATTER OF the Receivership of
Hickman Equipment (1985) Limited
(“Hickman Equipment”) pursuant to Rule 25 of the
Rules of the Supreme Court, 1986 under the
Judicature Act, R.S.N. 1990, c. J-4, as amended
AND IN THE MATTER OF the Bankruptcy and
Insolvency Act, Chapter B-3 of the Revised
Statutes of Canada, 1985, as amended
FIFTEENTH REPORT OF THE RECEIVER
This report deals with matters as of October 31, 2003. PricewaterhouseCoopers Inc.
(“PwC”) in its capacity of Receiver of Hickman Equipment, previously filed reports to
the Court for the period from our appointment date to April 30, 2002 and for each
month thereafter to April 30, 2003. Reports subsequent to April 30, 2003 are, pursuant
to Court Order, to be filed quarterly and this is the second such quarterly report
covering the period from August 1 to October 31, 2003.
FIFTEENTH REPORT OF RECEIVER
November 7, 2003
IMPLEMENTATION OF COURT APPROVED PLANS
REALIZATION PLAN
Unrealized assets
Unrealized assets as of our last report, July 31, 2003, consisted of a small quantity of
office equipment from Showtech and Celebration Rentals divisions, two van style
transport trailers (previously described as steel cargo containers) used for offsite parts
storage and the leased trucks subject to security held by GMAC. Remaining used parts
and offsite parts are discussed later in this report.
In September the Receiver reviewed the company’s records in regard to an Ingersol
Rand Model 370 drill, serial number C9569AR. A sale, pending confirmation of
payment clearing the purchaser’s bank, has been arranged for $13,000 plus HST.
Proceeds from the sale are included in the statement of Receipts and Disbursements to
October 31, 2003.
Creditors are being requested to review their security and advise the Receiver if
there is any claim to the proceeds from the sale of this drill.
Sale of trucks
All trucks were sold prior to July 31, 2003 for total proceeds of $372,755.
Page 2
FIFTEENTH REPORT OF RECEIVER
November 7, 2003
Accounts Receivable
Collections of accounts receivable for the three months to October 31, 2003 were $399
bringing the total collected to $896,083 not including sundry accounts. The only
accounts to be collected are the remaining accounts placed with collection agents or
which are subject to Statements of Claim initiated by the Receiver.
The Receiver’s application to Court (Court sub-file number 7:55) for advice and
directions involving a claim for set-off by United Rentals of Canada Inc. in the amount
of $329,254.74 was heard on March 12, 2003 and adjourned. See “Court Proceedings
and Orders”.
Corporate Income Tax Refunds
The CCRA audit of Hickman’s tax returns initiated in September 2002 was continuing
as at October 31, 2003. The CCRA has not requested any additional information since
April 2003. In September the Receiver followed up with CCRA on the status of the
claim and was advised due to staff changes at CCRA the claim must be reassigned.
The Receiver is not aware of any further impediment to the assessment of the corporate
income tax refund with the exception of withholding payment until the HST review has
been completed and assessed.
Page 3
FIFTEENTH REPORT OF RECEIVER
November 7, 2003
The Receiver has obtained Court authorization to proceed with a potential recovery of
corporate capital tax. Previously the Receiver reported the intention to meet with
CCRA to determine the level of documentation required to satisfy the claim prior to
undertaking the review.
In September CCRA advised they will not provide any
comments prior to receipt of the Receiver’s claim for the capital tax refund. The
Receiver intends to prepare the claim in the next quarter.
HST Review
The Receiver’s review of a possible refund of HST is proceeding and covers the period
from December 2000 for recovery of tax paid in error and from March 1998 for the
recovery of HST on bad debts. As reported in the previous report to the Court, HST
refund claims filed to the end of April 2003 total $331,297.16.
At the date of bankruptcy, the Hickman Equipment accounts show an HST liability in
the amount of $471,000 which is reflected on the sworn Statement of Affairs the
Receiver is reviewing.
The Receiver’s review has identified a sale recorded in
December 2001 that was not completed with the intended purchaser and therefore the
HST liability with this sale should be reversed, reducing the liability by $291,360.
Outstanding for review is a series of adjusting journal entries that may impact the HST
liability with a substantial increase, and a review of HST adjustments for bad debts.
Page 4
FIFTEENTH REPORT OF RECEIVER
November 7, 2003
Parts Inventory
Offsite Trailer Parts
The Parts Consent Agreement provided for deferred payment from John Deere for the
inventory of parts in four construction trailers. The Receiver advises that the status of
those parts as of October 31, 2003 is as follows:
•
All parts in the three Labrador trailers and the one Granite Lake trailer
have been sold.
•
The Receiver has received payment for all parts sold to Johnson
Construction Limited, United Rentals Incorporated and John Deere
Limited.
•
Parts used by McNamara Construction Limited at Granite Lake have
been invoiced to McNamara. McNamara claims an offset for breach of
contract. Payment by McNamara remains outstanding.
•
The Receiver has distributed the proceeds collected from sale of the
offsite parts, net of the 15% holdback for the cost allocation plan, to
John Deere and CIBC as authorized by the Court.
Used Parts and Trailers
The Receiver completed a sale to Ontrac Equipment Service Inc., of used parts, except
the used crusher parts, including electric motors, diesel generators and power units.
All remaining units plus the two van-type trailers were placed with Roche’s
Auctioneering Services Limited for sale or auction in November, 2003.
Page 5
FIFTEENTH REPORT OF RECEIVER
November 7, 2003
CLAIMS PLAN AND FINAL DETERMINATIONS
As at October 31, 2003 Final Determinations have not yet been issued for the related
companies, Group Holdings Limited, Hickman Holdings Limited and Hickman
Leasing Limited.
The decision of Justice Hall dealing with the Receiver’s Final Determination for CIBC
has been appealed. The Receiver is named as a respondent but does not intend to
participate in the appeal by way of either written or oral submission.
WEB SITE
Pursuant to a decision rendered on December 30, 2002, the Court indicated that the
Receiver’s web site may be used for service of matters before the Court.
COST ALLOCATION PLAN
To date the Court has authorized a holdback of 15% from distributions to creditors for
the cost allocation plan. The Receiver reviewed the calculation during October 2003
and continues to believe that the 15% deduction from distributions is appropriate.
Page 6
FIFTEENTH REPORT OF RECEIVER
November 7, 2003
Distributions
New distributions occurred since the last report of July 31, 2003. The gross amount of
distributions at October 31, 2003 is $6,117,039, less a holdback of $917,556, for net
distributions of $5,199,483. A separate schedule of distributions and assets realized is
attached as Appendix A to this report.
NEXT STEPS AND OTHER ISSUES
Auditor Issue
In compliance with an Order of the Court dated July 25 and entered July 28 concerning
the Application of the Receiver (7:56) for an Order directing Deloitte & Touche LLP
to provide documents and for appropriate Directions, Deloitte and Touche LLP
delivered eight banker’s boxes of records to the Receiver. Five of the boxes were
identified as relating to the monitor role under the CCAA and three boxes are
identified as auditor files.
In
consultation
with
its
solicitor
the
Receiver
is
utilizing
senior
PricewaterhouseCoopers LLP audit personnel to conduct a review of the audit
documents to determine whether it has in its capacity as Receiver or Trustee a claim
against Deloitte & Touche LLP.
The Court Order (7:56) prevents the Receiver from releasing any of the documents or
information contained in the documents to anyone other than the Receiver’s solicitor,
experts and advisors retained to assist in evaluating the documents.
Page 7
FIFTEENTH REPORT OF RECEIVER
November 7, 2003
Review of Management Bonuses
See Court Proceeding and Orders, sub-file 7:52 below for comments.
COURT PROCEEDINGS AND ORDERS
The following Court proceedings were in process or took place from August to
October 2003. Relevant documents and submissions can be found on the
PricewaterhouseCoopers’ website.
1.
7:21 – The Application of GMAC for payment of the proceeds from 4
Terex Trucks was heard on October 28, 2003. The matter was enlarged to
November 12th, 2003 at 9:30 am.
2.
7:29 – On September 12, 2003 the Application of Caterpillar Financial
Services Limited (“CFSL”) was heard by Judge Hall.
This was for
payment to CFSL of the proceeds from the sale of a Timberjack, serial
number 993395.
In an Order dated September 17, 2003 Judge Hall
Ordered that $95,000.00, less a 15% holdback of $14,250.00 pursuant to
the Cost Allocation Plan, be divided as follows:
∗
50% to CFSL ($40,375.00);
∗
25% to John Deere Credit Inc. ($20,187.50); and
∗
25% to the Canadian Imperial Bank of Commerce (“CIBC”)
($20,187.50).
Page 8
FIFTEENTH REPORT OF RECEIVER
November 7, 2003
3.
7:32 – On October 15, 2003, the Application of CIT Financial Limited
(“CIT”) was heard by Judge Hall.
This was for payment to CIT of
proceeds of a number of assets now that the objection of CIBC had been
withdrawn. In an Order dated October 15, 2003 and filed October 16,
2003, Judge Hall ordered that proceeds in the amount of $486,337.70
(being the total proceeds of $572,162.00 less a 15% holdback of
$85,824.30 pursuant to the Cost Allocation Plan) be paid to CIT.
4.
7:33A – The Application of CIT Financial Limited for payment of the
proceeds from 5 Terex Trucks was adjourned sine die on October 28, 2003.
5. 7:44 - On August 1, 2003, Paul Burgess, counsel for National Leasing
Group Inc. (“NLGI”) met with Judge Hall with respect to the continuation
of NLGI’s Interlocutory Application.
Anna Locke, counsel for
PricewaterhouseCoopers Inc. (“PwC”) also attended this meeting. Judge
Hall directed a fresh application be issued and served on all interested
parties. This new application (7:44), for payment to NLGI of the proceeds
from the sale of a 310SG Backhoe Loader, serial number T0310SG894504
was heard on August 14, 2003. The Order of Judge Hall dated and filed on
August 14, 2003 ordered that PwC pay to NLGI $70,200.00 less a 15%
holdback, being $10,530, pursuant to the Cost Allocation Plan.
Page 9
FIFTEENTH REPORT OF RECEIVER
November 7, 2003
6.
7:52 – The Order of Judge Hall with respect to the Application of PwC
was filed on August 1, 2003. The Order lifts the stay of proceedings “so as
to permit CIBC, at its discretion, to enforce its security for recovery of
bonuses, commissions or other payments.” The Receiver cannot assist
CIBC in this action as it believes this would cause a conflict of interest.
The Receiver notes a deadline exists for bonuses paid in 2000 re 1999
activity as repayment of the bonuses will result in a tax refund to the
individuals only if the repayment occurs before December 31, 2003.
Similarly, for bonuses paid in 2001 the repayment must be made before
December 31, 2004 to obtain a refund of income tax.
7.
7:54 - By an Order dated June 2 and filed June 16 the Application by
PwC as Receiver/Trustee for Directions concerning interest in 29 pieces of
equipment rented by United Rentals (Canada) Limited to Hickman
Equipment was adjourned to October 1, 2003. The Application was heard
on October 1 with a decision issued by Justice Hall on October 31, 2003.
In response to PwC's application for directions as to whether it should
continue to assemble information to enable it to make a determination of
interest in the Equipment or to bring the matter back before the Court for
its determination. Justice Hall has directed PwC to take no further steps.
The decision in its entirety is posted on the Receiver's website, however a
portion of the decision specifying grounds by which the matter may be
revisited is copied below.
“Nonetheless I recognize that the powers granted to the Receiver
and the Trustee under the BIA and the Receivership Order are
superior to what might be available to individual creditors in their
Page 10
FIFTEENTH REPORT OF RECEIVER
November 7, 2003
own private action outside of the receivership.
Therefore, on
appropriate grounds, this Court may entertain an application on the
part of PwC as Receiver and certain willing creditors, to permit
those requested investigations where such creditors are willing to
fund the cost thereof from their own resources and not from the
funds of the receivership”
8. 7:55
-
The Receiver's application to Court for advice and directions
involving a claim for set off by United Rentals of Canada Inc. in the amount
of $329,254.74 was brought before the Court on March 12, 2003 and
adjourned sine die with instructions to Receiver's counsel to seek a date for
hearing if the matter was not resolved by mid-September. John Deere
Limited, John Deere Credit Inc, CIBC and United Rentals are the only
parties which have expressed an interest in the Receiver's application. They
wish to have prehearing disclosures by way of documents and discovery.
The Receiver has no objections. It is expected a consent Order setting a
date for hearing and particulars of prehearing proceeding involving
interested parties will be circulated shortly. The matter is currently expected
to be heard in March.
Page 11
FIFTEENTH REPORT OF RECEIVER
November 7, 2003
9. 7:57 - The Order of Judge Hall with respect to the Application of PwC was
filed on August 1, 2003. The Order provides the direction requested by the
Receiver for its final tasks and mandate as Court Appointed Receiver.
Exhibit 1 to the Order specifies the Receiver’s remaining duties pertaining
to:
a. Realization Plan
b. Claims Plan
c. Preference review and Related party transaction review
d. Miscellaneous duties
The Order is posted on the Receiver’s website.
Creditors and other stakeholders are advised the Order includes direction
that the Receiver can assist with information requests from stakeholders
with costs to be borne by stakeholders if appropriate.
10.
2003 01T 3135 – On August 12, 2003 the Originating Application of
April Dunne for the temporary lifting of the stay of proceedings was heard.
This was to facilitate access to the insurer of the ShowTech division of
Hickman Equipment in relation to a claim against the insurer.
Application was granted by Judge Thompson.
Page 12
The
FIFTEENTH REPORT OF RECEIVER
November 7, 2003
ACCRUED FEES OF THE RECEIVER AND LEGAL COUNSEL
Attached as Appendix “B” is a summary of the accrued fees of the Receiver and
Receiver’s Counsel to October 31, 2003.
STATEMENT OF RECEIPTS AND DISBURSEMENTS
Attached as Appendix “C” is a Statement of Receipts and Disbursements for the period
from March 13, 2002, the date of the Receiver’s appointment to October 31, 2003.
The above respectfully submitted as of the 7th day of November, 2003.
Yours very truly,
PricewaterhouseCoopers Inc.
Receiver and Manager –
Hickman Equipment (1985) Limited
Per:
________________________________
James A. Kirby, C.A., C.I.R.P.
Senior Vice-President
JAK/cmc
Encl.
ReportToCourt-#15.doc
Page 13
Hickman Equipment (1985) Limited
PricewaterhouseCoopers Inc., Receiver
31-Oct-03
Distribution Details sorted by Court File Number
Issued to October 31, 2003
Serial
Gross
Distribution
Sub-file
Creditor Name
7:29
CIBC
CATERPILLAR
FINANCIAL
SERVICES LIMITED
993395
TIMBERJACK 610 FORWARDER
Description
23,750
993395
TIMBERJACK 610 FORWARDER
47,500
John Deere Credit Inc.
993395
TIMBERJACK 610 FORWARDER
23,750
95,000
4259
152924
173406
173408
173411
173645
175544
175545
178925
178926
183168
183169
183210
184608
184609
186186
186846
186847
189165
189179
191994
192567
192810
193577
206642
206742
206842
207010
207880
209490
242648
242657
BY7073
BY7085
BY7146
I/R ECM350 Air Track
I/R XP825 COMPRESSOR
I/R XP825 COMPRESSOR
I/R XP825 COMPRESSOR
I/R XP825 COMPRESSOR
I/R XP825 COMPRESSOR
I/R XP825 COMPRESSOR
I/R XP825 COMPRESSOR
I/R XP825 COMPRESSOR
I/R XP825 COMPRESSOR
I/R XP825 COMPRESSOR
I/R XP825 COMPRESSOR
I/R XP825 COMPRESSOR
I/R XP825 COMPRESSOR
I/R XP825 COMPRESSOR
I/R XP825 COMPRESSOR
I/R XP825 COMPRESSOR
I/R XP825 COMPRESSOR
I/R XP825 COMPRESSOR
I/R XP825 COMPRESSOR
I/R XP825 COMPRESSOR
I/R XP825 COMPRESSOR
I/R XP825 COMPRESSOR
I/R XP825 COMPRESSOR
I/R XP825 COMPRESSOR
I/R XP825 COMPRESSOR
I/R XP825 COMPRESSOR
I/R XP825 COMPRESSOR
I/R XP825 COMPRESSOR
I/R XP825 COMPRESSOR
I/R ECM350 Air Track
I/R ECM350 Air Track
I/R ECM350 Air Track
I/R ECM350 Air Track
I/R ECM350 Air Track
12,070
5,500
12,070
12,070
12,070
16,500
2,500
11,000
14,000
3,000
12,500
4,500
12,070
9,656
15,500
15,000
5,500
14,500
2,500
12,070
13,000
9,656
14,000
11,500
1,500
16,500
12,070
19,000
8,000
8,000
600
2,500
12,070
10,000
12,070
7:29 Total
7:32
CIT FINANCIAL
LIMITED
11/18/2003
Hickman Distribution Detail
Hickman Equipment (1985) Limited
PricewaterhouseCoopers Inc., Receiver
31-Oct-03
Distribution Details sorted by Court File Number
Issued to October 31, 2003
Sub-file
Creditor Name
Serial
Description
CB7238
CB7240
CB7242
CB7361
CB7369
CB7371
CB7385
CB7497
R10025
R10061
R10062
R10063
R10064
S4184
S4201
S4244
S4257
S4260
T38076
V88497
7:32 Total
7:33
7:33 Total
8:29
GMAC & CIBC
CIBC
Gross
Distribution
I/R ECM350 Air Track
I/R ECM350 Air Track
I/R ECM350 Air Track
I/R ECM350 Air Track
I/R ECM350 Air Track
I/R ECM350 Air Track
I/R ECM350 Air Track
I/R ECM350 Air Track
I/R ECM350 Air Track
I/R ECM350 Air Track
I/R ECM350 Air Track
I/R EXM350 AIR TRACK
I/R EXM350 AIR TRACK
I/R ECM350 Air Track
I/R ECM350 Air Track
I/R ECM350 Air Track
I/R ECM350 Air Track
I/R ECM350 Air Track
I/R ECM350 Air Track
I/R XP825 COMPRESSOR
1GDL7H1C7XJ502066 1999 GMC Medium Truck
770
3913
7125
7181
7534
7535
10469
10473
10476
10561
10566
30665
118982
127504
175546
557007
9120173
9141194
9724703
ROCKRAM HYD HAMMER
NYE 330L BUCKET
NYE 330LC FROST RIPPER
NYE 330LC MECHANICAL THUMB
NYE 5 1/2 750 Bucket
NYE 4 1/4 450LC Bucket
I/R DXL750 COMPRESSOR
I/R DXL750 COMPRESSOR
I/R DXL750 COMPRESSOR
I/R DXL750 COMPRESSOR
I/R DXL750 COMPRESSOR
GORMAN RUMP 6" PUMP
TRAMAC V55 BREAKER
TRAMAC V55 HAMMER
I/R XP825 COMPRESSOR
MASSEY 240 SWEEPER
CASE W18 LOADER
CASE W11 LOADER
I/R ECM490 DRIFTER
11/18/2003
12,070
13,500
15,000
8,500
12,070
12,070
600
12,070
4,000
14,000
16,000
12,070
12,070
600
14,000
2,500
10,000
18,000
14,000
14,000
572,162
54,150
54,150
12,000
500
2,250
3,000
3,563
5,938
600
600
600
600
600
3,600
40,000
30,000
14,000
4,250
12,000
7,000
20,000
Hickman Distribution Detail
Hickman Equipment (1985) Limited
PricewaterhouseCoopers Inc., Receiver
31-Oct-03
Distribution Details sorted by Court File Number
Issued to October 31, 2003
Sub-file
Creditor Name
Serial
Gross
Distribution
Description
TIMBERJACK 1210B FORWARDER
NPK 16X HAMMER
DYNAPAC CA251A ROLLER
CRAIG TC62H QUICK COUPLER
GARIER 450LC ROOT RAKE
WARATAH H450 HARVESTING
HEAD
00FY0467
JRB TC62H QUICK COUPLER
0100-55430-5/3
JRB 444H QUICK COUPLER
0198-32881
WARATAH H260 HARVESTING
HEAD
01FA1222
JRB 310D QUICK COUPLER
0498-35345-1
JRB 450LC QUICK COUPLER
0601-76467
JRB TC54H QUICK COUPLER
0697-27716-4/1
JRB 450LC QUICK COUPLER
0701-78017
JRB 160LC QUICK COUPLER
0801-79094
JRB 270 LC Q/C
1101-81931
JRB 200 LC Q/C
1201-82953
JRB 330LC QUICK COUPLER
1201-82990
BLAW-KNOX 5510 TRUCK HITCH
14423-10
TD20 REAR RIPPER
20R3U51
2N5STVN34VA045034 Mobile stage
2R1B3W3E4E1000541 ROUSSEY TRAILER
JOHN DEERE 892E EXCAVATOR
ARM
3030022AHA
JOHN DEERE 892E EXCAVATOR
ARM
3030027AHA
JOHN DEERE 992E EXCAVATOR
ARM
4030456AMA
FABTEK 546C FORWARDER
546C-96-10011
BLAW-KNOX 5510 PAVER
551030-33
CAT D4D DOZER
83J01647
TELEDYNE TB1625 HAMMER
8FK00652
JOHN DEERE 450LC EXCAVATOR
ARM
9AKJ146
JOHN DEERE 450LC EXCAVATOR
ARM
9DKJ206
JOHN DEERE BACKHOE ARM
A002
700/50-26.5 Tire and Rim
A143a
700/50-26.5 Tire and Rim
A143b
66X43.00-26 Tire and Rim
A143c
NYE 790E TRACK GUIDES
A276
12100639
50010417
58311028
99110315
006100
11/18/2003
62,500
25,000
42,000
600
6,500
29,000
500
600
39,000
600
7,500
700
8,250
5,000
5,350
4,700
3,750
500
2,100
101,000
1,888
3,600
2,000
3,000
200,000
262,500
9,000
19,000
3,000
3,000
100
3,500
3,500
1,000
500
Hickman Distribution Detail
Hickman Equipment (1985) Limited
PricewaterhouseCoopers Inc., Receiver
31-Oct-03
Distribution Details sorted by Court File Number
Issued to October 31, 2003
Sub-file
Creditor Name
Serial
Gross
Distribution
Description
A282
A283
A288
NYE 992E TRACK GUIDES
NYE 790E TRACK GUIDES
NYE 690E TRACK GUIDES
500
500
500
A472
100
A474
A497
A515
A521
A573
JOHN DEERE 310D BACKHOE ARM
JOHN DEERE 310E BACKHOE
BUCKET
JOHN DEERE 790E 42" BUCKET
TRAMAC V55 HAMMER
TRAMAC V43 HAMMER
CAT 980C SNOW PLOW
1,000
1,000
10,000
5,000
300
BR2250497RABMU
C000185
C000832
CK0490S011961
RISELY R21R HARVESTING HEAD
TRAMAC V52 HAMMER
Excavator Long
JOHN DEERE 490 EXCAVATOR
17,000
10,000
6,000
25,000
E631-005
TREEFARMER C6D FORWARDER
21,000
F631-007
F923546
FF0200X501179
FF892EX012313
FF992EX006280
H01221
H01315
KT11503006307
PWC AR
PWC CR 15(a)
PWC CR 15(b)
PWC CR 16
PWC CR 17(a)
PWC CR 17(b)
TREEFARMER C6D FORWARDER
DAVID BROWN SWEEPER
JOHN DEERE 200LC EXCAVATOR
JOHN DEERE 892E EXCAVATOR
JOHN DEERE 992E EXCAVATOR
VAIL 850C REAR RIPPER
VAIL 850C REAR RIPPER
TRAILER/GENSET
Accounts receivable
Trade show supply package
Trade show supply package
Tenting and accessories package
Food service - tables and chairs
Food service - bar equipment
Food service and preparation
equipment
Food service - Bianca china
Food service - Regency china
Food service - decorative props and
linens
Food service - decorative props and
linens
Food service - Old Country S/S
flatware
18,000
3,000
114,000
85,000
95,000
5,750
5,500
16,500
870,213
1,000
21,000
41,200
15,500
1,500
PWC CR 17(c)
PWC CR 17(d)
PWC CR 17(e)
PWC CR 17(f)(I)
PWC CR 17(f)(ii)
PWC CR 17(g)
11/18/2003
3,905
4,200
8,900
150
4,000
1,400
Hickman Distribution Detail
Hickman Equipment (1985) Limited
PricewaterhouseCoopers Inc., Receiver
31-Oct-03
Distribution Details sorted by Court File Number
Issued to October 31, 2003
Sub-file
Creditor Name
Serial
Gross
Distribution
Description
PWC ST 3
PWC ST 4(a)
PWC ST 4(b)
Food service - Ultra Brite S/S flatware
Food service - glassware
Dishwasher package
Warehouse and related equipment
Forklift
Office furniture and equipment
Retail inventory
Customer list
Remaining Attachments
Traveller for mobile stage
Sony large TV package
Complete club PA package
Complete club PA package
Warehouse equipment
Office furniture and equipment
Retail inventory
Concert and performance staging folding
Conference staging - portable and
folding
Concert lighting - intelligent
Concert lighting - intelligent
5,000
42,000
200
PWC ST 5(a)
Atmosphere lighting and accessories
90,000
PWC ST 5(b)
PWC ST 6(a)
PWC ST 6(b)(I)
PWC ST 6(b)(ii)
PWC ST 7(a)
PWC ST 7(b)
PWC ST 8(a)
PWC ST 8(b)
PWC ST 9(a)
PWC ST 9(b)
R14180LD
R14185AE
SJ480609-43
T0062221
T0750CX879743
T10118001
T38175
Atmosphere lighting and accessories
Conventional light rig
Conventional light rig
Conventional light rig
Turbo sound touring package
Turbo sound touring package
Audio visual package
Audio visual package
DJ and audio lighting
DJ and audio lighting
I/R ECM490 HYDRAULIC DRILL
I/R ECM490 HYDRAULIC DRILL
SUMMERS SMB100 GENSET
CRAIG 4 1/2 YD 744H BUCKET
JOHN DEERE 750C DOZER
CRAIG TC62H PALLET FORKS
I/R ECM350 Air Track
20,000
34,000
24,000
750
102,000
35,000
78,000
80,000
10,000
2,500
90,000
105,000
9,000
5,500
115,000
3,600
12,000
PWC CR 17(h)
PWC CR 17(i)
PWC CR 18
PWC CR 19
PWC CR 20
PWC CR 21
PWC CR 22
PWC CR 23(b)
PWC Misc
PWC ST 1(b)
PWC ST 10
PWC ST 11(a)
PWC ST 11(b)
PWC ST 12
PWC ST 13
PWC ST 14
PWC ST 2
11/18/2003
1,050
5,500
1,000
2,800
2,000
800
2,000
10
12,233
1,000
10,000
7,000
3,000
3,000
800
2,500
2,500
Hickman Distribution Detail
Hickman Equipment (1985) Limited
PricewaterhouseCoopers Inc., Receiver
31-Oct-03
Distribution Details sorted by Court File Number
Issued to October 31, 2003
Sub-file
Creditor Name
Serial
Description
PWC AR 2
PWC COH
PWC Frgt
PWC MISC2
PWC Parts3a
8:29 Total
7:44
7:44 Total
7:48
NATIONAL LEASING
GROUP INC.
CIBC
John Deere Limited
7:48 Total
7:20
GMAC
T0310SG894504
Sundry receivables
Cash on Hand
Recovery of freight
Deduct for $3 million cap CIBC
NonDeere Parts-sold by Ontrac
10,214
4,087
20,000
(72,187)
193,200
3,511,514
Backhoe Loader
70,200
70,200
215,000
178,000
63,454
750,806
55,852
1,263,113
155,000
131,100
240,000
526,100
PWC Parts2
PWC Parts3b
PWC Parts3c
PWC Parts1a
PWC Parts1b
Timberjack Parts
NonDeere Parts-sold to John Deere
NonDeere Parts-offsite
John Deere parts-sold to JohnDeere
John Deere parts-offsite
DWTC62H579785
FF0200X501969
FF0450X090627
JOHN DEERE TC62H LOADER
JOHN DEERE 200LC EXCAVATOR
JOHN DEERE 450LC EXCAVATOR
7:20 Total
7:35
GMAC Leaseco &
CIBC
Gross
Distribution
1GCEC14W0XE150527 Chevy Silverado
1GCEC14WXXE141298 Chevy Silverado
1GCEK14W7XE154285 Chevy Silverado
7:35 Total
Grand Total
11/18/2003
8,300
7,150
9,350
24,800
6,117,039
Hickman Distribution Detail
Hickman Equipment (1985) Limited
PricewaterhouseCoopers Inc., Receiver
31-Oct-03
Gross Proceeds Remaining for Distribution before Cost Allocation
Net of Distributions to October 31, 2003
Listed by Serial Number
Serial Number
Stock#
Model
804
6349
40842
49395
50104
50310
50340
51059
129379
160180
163713
167316
172821
973115
990097
8450602
8608220
06CR04706
06CR05244
06CR05245
10DH1027
145-35027
158-5928
17DD0305
1G1JC5242Y7302829
1GCEK14V2YE379061
1GCEK14W5YZ245386
1GCEK14W71Z209690
1GCEK14WXYZ188084
1GCEK19T01E277450
1GCEK19T21E323537
1GCFG15M1Y1169229
1GNDT13W7Y2285480
3G1JC52481S103145
3GNFK16TXYG107437
4S2DM58W0Y4700167
544B-03-28858-99
546B-40-28894-99
546C-56-29308-00
546C-66-29396-00
551028-64
5TJ02858
72V13959
74TDC7364
911C4019
9SJ000289
A475
A7761186
C001290
C001614
C001552
C001525
C001526
C001582
C001527
C001542
X-C001351
C001034
presold2
C001269
C001229
C000900
C001406
C001102
C001401
C001339
C001340
C001341
C001118
C000959
C001567
C001111
equip2
equip5
equip6
equip7
equip9
equip10
equip11
equip12
equip13
equip14
equip15
equip1
C001493
C001230
C001494
C001231
C001062
C001226
C001553
C001227
C001045
C001532
A475
C001114
POULIN PLANT(#804)Conveyor(#105) C'90 & C'91
INTERNATIONAL TD15C DOZER
CEDARAPIDS 2236 JAW CRUSHER
CEDARAPIDS SCREENER/WASH PLANT
CEDARAPIDS C380 CONE PLANT
CEDARAPIDS 3042 JAW PLANT
CEDARAPIDS 6X20 SCREEN PLANT
CEDARAPIDS 461 PAVER
TRAMAC CPA225 DRILL
I/R DD110D ROLLER
I/R SD100DA Compactor
I/R SD110D ROLLER
I/R XP825 COMPRESSOR
TIMBERJACK 610 FORWARDER
TIMBERJACK 990 FORWARDER
TIGERCAT 845B FELLER BUNCHER
VALMET 860 FORWARDER
CAT 320B EXCAVATOR
CAT 320B EXCAVATOR
CAT 320B EXCAVATOR
TIMBERJACK 1110B FORWARDER
HITACHI EX200 EXCAVATOR/HARVESTER
HITACHI EX270 EXCAVATOR
TIMBERJACK 1410 FORWARDER
2000 Chevrolet Cavalier
2001 Chevrolet Silverado
2000 Chevrolet Silverado
2001 Chevrolet Silverado
2000 Chevrolet Silverado
2001 Chevrolet Silverado
2001 Chevrolet Silverado
2000 Chevrolet Express Van
2001 Chevrolet Blazer
2001 Chevrolet Cavalier
2000 Chevrolet K1500
2000 Isuzu Rodeo
FABTEK 544B FORWARDER
FABTEK 546B FORWARDER
FABTEK 546C FORWARDER
FABTEK 546C FORWARDER
BLAW-KNOX 5510 PAVER
CAT D8N DOZER
CAT 140G MOTOR GRADER
TEREX ARTICULATED TRUCK
VALMET 911C HARVESTER
CAT 320B EXCAVATOR/HARVESTER
TAPIO HARVESTING HEAD
TEREX TA35 ARTICULATED ROCK TRUCK
11/18/2003
Remaining
41,000.00
11,000.00
152,500.00
225,000.00
360,000.00
325,000.00
260,000.00
255,000.00
62,000.00
95,000.00
95,000.00
110,000.00
9,655.80
40,000.00
5,000.00
118,750.00
30,000.00
135,000.00
140,000.00
135,000.00
190,000.00
55,000.00
30,000.00
306,000.00
6,555.00
10,800.00
12,300.00
21,831.00
11,600.00
29,945.00
28,642.50
12,939.00
16,625.00
8,550.97
41,500.00
10,450.00
65,000.00
75,000.00
80,000.00
145,000.00
213,750.00
165,148.95
95,000.00
800.00
50,000.00
67,500.00
3,500.00
190,000.00
Gross Proceeds Remaining at Ooct 31, 2003
Hickman Equipment (1985) Limited
PricewaterhouseCoopers Inc., Receiver
31-Oct-03
Gross Proceeds Remaining for Distribution before Cost Allocation
Net of Distributions to October 31, 2003
Listed by Serial Number
Serial Number
Stock#
Model
A7761187
A7761188
A7761195
A7761196
AT4C761111995
BE350CT200325
BE350CT200326
C10514
CB7835
CT7296
CT7297
DW624HX579048
DW644HX574161
DW644HX580105
DW644HX581726
DW690EL538314
DW690EL562859
DW690EL565134
DW744HX572461
DW744HX572946
DW744HX576952
DW772CH567061
DWTC62H579824
FF0200X050548
FF0200X050655
FF0200X051120
FF0200X051172
FF0200X500457
FF0200X500536
FF0200X500917
FF0200X500923
FF0200X500924
FF0200X501362
FF0200X501500
FF0200X501803
FF0200X502017
FF0230X060319
FF0330X080077
FF0330X080078
FF0330X080456
FF0330X080518
FF0330X080747
FF0330X080964
FF0370X080344
FF0450X090021
FF0450X090408
FF0450X090600
FF050ZX240042
C001115
C001116
C001112
C001113
C001400
C001365
C001366
C001364
C000601
C001654
C000899
C001105
C000172
C001336
X-C001534
C001042
C001398
C001399
C001373
C001485
C000893
C001159
C001274
C000852
C001547
C001521
C001586
C001032
C001495
C000257
C001496
C001497
C001054
C000892
C001329
N-C001379
C001491
C001546
C000356
N1854
N1858
C001057
C001381
C000257
C001545
C001023
C001220
C001474
TEREX TA35 ARTICULATED ROCK TRUCK
TEREX TA35 ARTICULATED ROCK TRUCK
TEREX TA35 ARTICULATED ROCK TRUCK
TEREX TA35 ARTICULATED ROCK TRUCK
TIMBCO T425B HARVESTER
JOHN DEERE 350C ARTICULATED DUMP TRUCK
JOHN DEERE 350C ARTICULATED DUMP TRUCK
KOMATSU PC200-6 EXCAVATOR/HARVESTER
TIMBERJACK 230A FORWARDER
TIMBERJACK 230A FORWARDER
TIMBERJACK 230A FORWARDER
JOHN DEERE 624H LOADER
JOHN DEERE 644H LOADER
JOHN DEERE 644H LOADER
JOHN DEERE 644H LOADER
JOHN DEERE 690E EXCAVATOR
JOHN DEERE 690E EXCAVATOR/HARVESTER
JOHN DEERE 690E EXCAVATOR/HARVESTER
JOHN DEERE 744H LOADER
JOHN DEERE 744H LOADER
JOHN DEERE 744H LOADER
JOHN DEERE 772CH MOTOR GRADER
JOHN DEERE TC62H LOADER
JOHN DEERE 200LC EXCAVATOR
JOHN DEERE 200LC EXCAVATOR
JOHN DEERE 200LC EXCAVATOR
JOHN DEERE 200LC EXCAVATOR
JOHN DEERE 200LC EXCAVATOR
JOHN DEERE 200LC EXCAVATOR/HARVESTER
JOHN DEERE 200LC EXCAVATOR
JOHN DEERE 200LC EXCAVATOR/HARVESTER
JOHN DEERE 200LC EXCAVATOR/HARVESTER
JOHN DEERE 200LC EXCAVATOR
JOHN DEERE 200LC EXCAVATOR
JOHN DEERE 200LC EXCAVATOR
JOHN DEERE 200LC EXCAVATOR
JOHN DEERE 230LC EXCAVATOR
JOHN DEERE 330LC EXCAVATOR
JOHN DEERE 330LC EXCAVATOR
JOHN DEERE 330LC EXCAVATOR
JOHN DEERE 330LC EXCAVATOR
JOHN DEERE 330LC EXCAVATOR
JOHN DEERE 330LC EXCAVATOR
John Deere 370 Excavator
JOHN DEERE 450LC EXCAVATOR
JOHN DEERE 450LC EXCAVATOR
JOHN DEERE 450LC EXCAVATOR
JOHN DEERE 50ZTS COMPACT EXCAVATOR
11/18/2003
Remaining
190,000.00
190,000.00
190,000.00
190,000.00
24,000.00
225,000.00
230,000.00
65,000.00
31,000.00
25,000.00
21,000.00
152,500.00
114,791.35
160,000.00
182,500.00
38,000.00
24,000.00
30,000.00
120,000.00
120,000.00
192,500.00
95,000.00
142,500.00
72,200.00
110,000.00
86,450.00
199,500.00
115,000.00
150,000.00
103,500.00
120,000.00
60,000.00
135,000.00
91,833.65
140,000.00
131,100.00
104,500.00
150,000.00
133,000.00
170,000.00
170,000.00
199,500.00
199,500.00
147,250.00
150,000.00
150,000.00
240,000.00
30,875.00
Gross Proceeds Remaining at Ooct 31, 2003
Hickman Equipment (1985) Limited
PricewaterhouseCoopers Inc., Receiver
31-Oct-03
Gross Proceeds Remaining for Distribution before Cost Allocation
Net of Distributions to October 31, 2003
Listed by Serial Number
Serial Number
Stock#
Model
FF790EL010023
FF792DX010221
FF892EX007221
FF892EX007239
FF892EX011283
FF892EX011686
FF892EX011705
FF892EX012095
FF892EX012643
FF992EX007040
J8DE5B14617900087
J8DE5B14717900082
KV0250A253464
KV0250A253465
LU1050C005288
P00120X031958
P00160X041361
P00160X041555
P00160X041653
P00160X041654
P00160X041741
P00160X041792
P00160X041793
PWC AR
PWC AR 2
PWC CB
PWC IT
PWC Misc 1
PWC Office
PWC Parts4
PWC Parts5
PWC USX
R10031
R10162
R11115EF
R14245FF
R14246FF
T0310SG896594
T0310SG896618
T0310SG897094
T0450GX809815
T0450HX874682
T0450HX889199
T0653GX880032
T0750CX825699
T0750CX882592
T0850CX834577
T0850CX848745
C000226
C000898
C000278
N1603
C000285
C001396
C001652
N1696
C000345
C001295
equip16
equip17
C001029
C001028
N-C001486
C000931
N-C001512
C001035
C001327
C001328
N-C001377
N-C001453
N-C001454
PWC AR
PWC AR 2
PWC CB
PWC IT
PWC Misc 1
PWC Office
PWC Parts4
PWC Parts5
PWC USX
C001228
C001507
C001321
N1762
N1763
C001237
C001236
C001241
C001158
C000401
C001058
C001653
C001022
C000261
C001655
N1361
JOHN DEERE 790E EXCAVATOR
JOHN DEERE 792D EXCAVATOR
JOHN DEERE 892E EXCAVATOR
JOHN DEERE 892E EXCAVATOR
JOHN DEERE 892E EXCAVATOR
JOHN DEERE 892E EXCAVATOR
JOHN DEERE 892E EXCAVATOR
JOHN DEERE 892E EXCAVATOR
JOHN DEERE 892E EXCAVATOR
JOHN DEERE 992E EXCAVATOR
2001 GMC 5500
2001 GMC 5500
JOHN DEERE 250 SKIDSTEER LOADER
JOHN DEERE 250 SKIDSTEER LOADER
JOHN DEERE 1050C DOZER
JOHN DEERE 120 EXCAVATOR
JOHN DEERE 160LC EXCAVATOR
JOHN DEERE 160LC EXCAVATOR
JOHN DEERE 160LC EXCAVATOR
JOHN DEERE 160LC EXCAVATOR
JOHN DEERE 160LC EXCAVATOR
JOHN DEERE 160LC EXCAVATOR
JOHN DEERE 160LC EXCAVATOR
Accounts receivable
Sundry receivables
Redemption of Share - Credit Bureau
Income tax refunds (estimate only)
Steel Cargo Containers (estimate only)
Office equipment (estimate only)
Used Parts- sold to Ontrac
Used Parts - electric motors & power units(estimate)
US Exchange
I/R EXM350 AIR TRACK
CEDARAPIDS MVP450 CRUSHER
I/R ECM590 HYDRAULIC DRILL
I/R ECM490 HYDRAULIC DRILL
I/R ECM490 HYDRAULIC DRILL
JOHN DEERE 310SG BACKHOE
JOHN DEERE 310SG BACKHOE
JOHN DEERE 310SG BACKHOE
JOHN DEERE 450G DOZER+D36
JOHN DEERE 450H DOZER
JOHN DEERE 450H DOZER
JOHN DEERE 653G FELLER BUNCHER
JOHN DEERE 750C DOZER
JOHN DEERE 750C DOZER
JOHN DEERE 850C DOZER
JOHN DEERE 850C DOZER
11/18/2003
Remaining
39,000.00
58,900.00
45,000.00
40,000.00
40,000.00
40,000.00
40,000.00
80,750.00
145,000.00
100,000.00
33,725.00
35,055.00
23,000.00
24,000.00
330,000.00
107,000.00
110,000.00
110,000.00
115,000.00
110,000.00
120,000.00
132,500.00
132,500.00
25,870.00
575.00
3,833.00
900,000.00
2,700.00
5,000.00
20,000.00
1.00
6,193.00
12,069.75
290,000.00
117,963.40
79,800.00
68,400.00
75,000.00
76,000.00
76,000.00
57,500.00
60,000.00
127,500.00
180,000.00
80,000.00
125,000.00
82,500.00
100,000.00
Gross Proceeds Remaining at Ooct 31, 2003
Hickman Equipment (1985) Limited
PricewaterhouseCoopers Inc., Receiver
31-Oct-03
Gross Proceeds Remaining for Distribution before Cost Allocation
Net of Distributions to October 31, 2003
Listed by Serial Number
Serial Number
Stock#
Model
Remaining
T0850CX850222
C001392
JOHN DEERE 850C DOZER
T0850CX888907
C001059
JOHN DEERE 850C DOZER
T0850CX900908
N-C001479
JOHN DEERE 850C DOZER
W0W6X4D002027
C001518
JOHN DEERE 6X4 GATOR
W0W6X4D002028
C001517
JOHN DEERE 6X4 GATOR
W0W6X4D002069
C001519
JOHN DEERE 6X4 GATOR
WC608BX005005
C001531
TIMBERJACK 608B HARVESTER
Deducted from CIBC claim for $3 million cap (note 1)
120,000.00
160,000.00
222,500.00
12,000.00
12,000.00
12,000.00
300,000.00
72,186.00
16,154,364
NOTE 1: Court order, sub-file 8:29 provided general reduction in proceeds awarded
to adjust the total under the GABD to $3 million. Not applied to any
particular assets.
11/18/2003
Gross Proceeds Remaining at Ooct 31, 2003
Appendix "B"
Hickman Equipment (1985) Limited
Receiver's fees
PricewaterhouseCoopers
Paid to April 30, 2003
# 18
Subtotal: Court Approved
#19
#20
#21
#22
#23
#24
#25
#26
#27
#28
#29
Total Paid to October 31, 2003
Outstanding
Total PwC
Total
Receivership
General
1,287,336.31
30,996.00
1,318,332.31
731,951.31
14,667.00
746,618.31
2,430.00
20,489.00
16,986.00
8,924.00
13,632.00
2,430.00
20,489.00
Receivership
Realization
262,871.00
15,774.00
278,645.00
Receivership
Claims
Bankruptcy
Investigation Disbursements
68,139.00
0.00
175,000.00
68,139.00
0.00
175,000.00
49,375.00
555.00
49,930.00
16,986.00
8,924.00
13,632.00
6,076.00
6,159.00
3,499.00
7,725.00
10,468.00
11,889.00
12,039.00
11,717.00
11,880.00
1,432,572.31
805,509.31
333,241.00
43,841.00
15,254.00
27,690.00
1,476,413.31
820,763.31
360,931.00
68,139.00
274,636.95
-4,220.49
9,728.35
10,574.00
129,659.50
83.00
48.00
179.00
112.00
172.00
159.00
3,451.00
7,546.00
10,356.00
68,139.00
0.00
175,000.00
50,683.00
897.00
0.00
175,000.00
51,580.00
Legal fees
Patterson Palmer
Paid to April 30, 2003
# 14
Subtotal: Court Approved
Note: fees approved exceed billing by:
#16
#17
#18
#19
#20
Total Paid to October 31, 2003
411,021.16
3,586.80
414,607.96
9,728.35
4,810.54
2,242.96
2,460.70
6,303.42
4,810.54
1,977.50
1,987.00
5,742.00
3,958.00
265.46
45.70
561.42
428.00
440,153.93
294,661.85
16,799.50
16,207.50
Total Patterson Palmer
456,953.43
310,869.35
11,002.00
129,659.50
Merrick Holm
Paid to April 30, 2003
# 13
Subtotal: Court Approved
404,730.71
2,695.73
407,426.44
255,409.50
28,412.50
97,857.50
#14
#15
#16
15,836.29
1,607.99
6,386.94
15,836.29
1,590.00
1,980.00
4,350.00
Total Paid to October 31, 2003
431,257.66
274,815.79
32,762.50
7,932.22
5,640.00
120.00
439,189.88
280,455.79
32,882.50
97,857.50
0.00
3,982.50
24,011.59
White Ottenheimer & Baker
#1
Paid to May 31, 2002
16,470.60
16,470.60
16,470.60
16,470.60
Total WOB
16,470.60
16,470.60
912,613.91
607,795.74
43,884.50
227,517.00
0.00
7,940.50
25,476.17
Outstanding
Outstanding
Total Merrick Holm
TOTAL LEGAL FEES
11,002.00
129,659.50
0.00
3,958.00
872.58
592.00
0.00
3,958.00
1,464.58
3,982.50
21,764.44
17.99
56.94
97,857.50
0.00
3,982.50
21,839.37
2,172.22
Appendix "C"
IN THE MATTER OF THE RECEIVERSHIP OF
HICKMAN EQUIPMENT (1985) LTD.
STATEMENT OF RECEIPTS AND DISBURSEMENTS AND SUMMARY OF ACCRUALS
FOR THE PERIOD ENDING October 31, 2003
March 13/02 July 31/03
RECEIPTS
$
Accounts receivable
Accounts receivable - sundry
Auction commission
Auction of equipment and attachment inventory
Cash on hand
Cost allocation
HST collected
HST Refund
Interest
Recovery of freight
Rental Income - Sublet to RCMP
Redemption of Share - Credit Bureau
Sale of assets by tender - Show Tech and Celebration
Sale of equipment inventory
Sale of parts inventory
Sale of Vehicles
Third party auction proceeds
Trust Funds from Monitor
US Exchange
TOTAL RECEIPTS
DISBURSEMENTS
Advances to Trustee
Appraisal fee
Auction commission and expenses
Commission on sale of vehicles
Computer file maintenance and training
Court costs
Equipment storage costs
HST consultant's fee
HST paid and remitted
Insurance
Legal fees
Miscellaneous expenses
Monitor's fees
Monitor's legal fees
Office expenses
Receiver's fee
Reimbursement of third party auction proceeds
Rent and occupancy costs
Repairs & maintenance
Salaries and benefits
Security
Tender advertising
Travel expenses
TOTAL DISBURSEMENTS
EXCESS OF RECEIPTS OVER DISBURSEMENTS
Aug 1- Oct 31
$
March 13/02 Oct 31, 2003
$
895,684
10,789
1,182,973
14,534,892
4,087
181,165
2,959,122
20,000
365,926
20,000
11,100
3,833
772,165
3,264,700
1,374,387
372,755
466,968
165,200
6,193
26,611,939
399
10,500
16,668
23,721
2,500
99,615
645
154,048
896,083
10,789
1,193,473
14,534,892
4,087
181,165
2,975,790
20,000
389,647
20,000
11,100
3,833
772,165
3,267,200
1,474,002
373,400
466,968
165,200
6,193
26,765,987
6,446
35,701
1,140,712
13,180
7,985
25,268
8,922
914
3,060
1,500
7,314
20,368
(917)
19,002
6,847
51,779
1,297
825
146,179
31,714
35,701
1,149,634
13,180
8,899
3,060
115,798
28,222
3,027,640
37,228
887,882
23,364
123,204
35,188
14,902
1,432,572
466,968
46,997
9,471
24,978
12,587
8,117
2,652
7,539,958
114,298
20,908
3,007,272
38,145
868,880
16,517
123,204
35,188
14,902
1,380,793
466,968
45,700
9,471
24,153
12,587
8,117
2,652
7,393,779
19,218,160
7,869
19,226,029
4,404,207
795,276
5,199,483
FUNDS ON HAND COMPRISED OF THE FOLLOWING
Funds on Hand - General
Funds Invested in Treasury bills
Funds on hand - In Trust re Equipment Sale & Wells Fargo
Funds on hand - In trust from Monitor's Equip. sales
Funds on hand - In trust re Sale of leased vehicles
14,813,953
3,377,591
10,738,200
250,750
165,764
281,648
(787,407)
(716,944)
(70,200)
(263)
14,026,546
2,660,647
10,738,200
250,750
95,564
281,385
TOTAL FUNDS ON HAND
14,813,953
(787,407)
14,026,546
DISTRIBUTIONS - see Appendix A
Receiver's Accruals
HST Payable
Legal Fees
General
Receiver's fee
Receivership - General
Receivership - Realization
Receivership - Claims
Bankruptcy
TOTAL RECEIVER'S ACCRUALS
EXCESS OF RECEIPTS NET OF ACCRUALS
(28,149)
3,851
3,582
6,076
24,012
9,372
14,804,581
(3,701)
20,881
11,672
21,614
(24,012)
26,454
(813,861)
(31,850)
24,732
15,254
27,690
0
35,826
13,990,720