A number of former employees and local businesses are among those who have been left in the lurch by the closure of Do All Industries.
As was reported in the Mercury last week, the local company was placed into receivership Feb. 6 by an Alberta Court of Queen's Bench judge. The application to appoint a receiver was filed by the National Bank of Canada, which, according to court documents, is owed just over $30 million by Do All.
The court appointed Alvarez and Marsal as receiver and according to a preliminary list of creditors on the company's website, Do All owes an additional $8.1 million to other creditors.
Among those owed money are Do All's former employees. Listed on the document as preferred creditors, the roughly 155 people who worked at both the Estevan and Nisku, Alta. operations are owed a combined $288,347. The range of money owed stretches from a high of $14,600 to as low as $222.
The information on the website also contains a list of secured and unsecured creditors.
Do All owes $30.87 million to its secured creditors, including $30.69 million to the National Bank of Canada.
The list of unsecured creditors is an extensive one and reads like an Estevan business directory as dozens of local operations are owed money - $8.19 million in all.
Again, the range of money owed is wide with some businesses owed as little as $9 while others are owed over $1 million.
Topping the preliminary list is $1.44 million owed to Southern Industrial and Truck Ltd. of Weyburn.
Other figures of note is $704,793 owed to the Receiver General, $128,949 to the Tax and Revenue Administration, Alberta Treasury Board and Finance and roughly $74,000 to the City of Estevan. Overall, there are 13 businesses or governmental entities owed six-figure sums. (Editor's note: in the interest of full disclosure, the Estevan Mercury is among the businesses on the list of unsecured creditors.)
The Alvarez and Marsal website also includes a notice to creditors. In the notice they estimate that the assets of Do All Industries amount to a book value of $50.41 million. That figure includes cash in trust, inventory and property, plant and equipment. It adds that as of Feb. 6 Do All owed a combined $39.35 million to it's secured, preferred and unsecured creditors.
The receivership order may be found here: http://www.amcanadadocs.com/doall/documents/Receivership%20Order%20(February%206,%202014).pdf
A preliminary list of Do All creditors may be found here: http://www.amcanadadocs.com/doall/documents/Appendix%20A%20%E2%80%93%20Listing%20of%20known%20creditors.pdf
