British Columbia · Receivership (court-appointed)
First Report of Receiver to Court
Court officer report · 27 September 2023
A plain-language read of this filing opens with a subscription.
What we verified from this filing11 verified
- cash on handnote: Closing cash balance for the actual period March 9 to September 15, 2023 per the cash flow forecast table. · as at: 2023-09-15 · amount: 548365 · currency: CAD
- disbursementssince: March 1, 2023 · amount: 1127196 · currency: CAD
- operational summaryThe Receiver has continued operating the three Penticton motels since taking possession in March 2023, retaining staff and managing day-to-day operations, while running a sales process that culminated in an accepted offer to sell the properties via a reverse vesting order.
- process resultsbids: 5 · note: Five offers received during marketing process
- professional feesnote: Legal fees of $26,306 for the same period are stated separately; forecast Receiver's fees to discharge are noted separately in the cash flow forecast. · party: Receiver (MNP Ltd.) · amount: 58009 · period: March 1, 2023 to September 15, 2023 · currency: CAD
- purchaser1351486 B.C. Ltd.
- receipts cumulativesince: March 1, 2023 · amount: 1675561 · currency: CAD
- report date29 September 2023
- report noReceiver's First Report to Court
- sale advisorColliers
- sale outcometext: Receiver accepted highest offer from 486 BC Ltd. for the Properties, subject to Court approval · scope: whole_business · status: pending_approval