Alberta · Receivership (court-appointed)
Application re Discharge of Receiver, returnable October 31, 2023
Application / notice of application · 31 October 2023
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What we verified from this filing1 verified
- recovery outcomeentries: basis: actual · quote: The Receiver previously issued an interim distribution to the Debtor's primary secured lender, BMO, in the approximate amount of $976,968. · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · amount low: 976968 · cumulative: false · amount high: 976968 · class label: Bank of Montreal · creditor name: Bank of Montreal · interim final: interim · claims qualifier: unstated; basis: estimated · quote: After payment of the remaining costs of administration including the professional fees, the Receiver is seeking to make a final distribution to BMO in the estimated amount of $123,000. · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · amount low: 123000 · cumulative: false · amount high: 123000 · class label: Bank of Montreal · creditor name: Bank of Montreal · interim final: final · claims qualifier: unstated; basis: estimated · quote: There will be no equity in the Alleged Trust Properties once the costs of administration of these proceedings are paid and it is anticipated that BMO will face a shortfall in recovery of the indebtedness owing to it. · pct of: unstated · outcome: shortfall · class key: secured · stated by: receiver · class label: BMO · creditor name: Bank of Montreal · interim final: unstated · claims qualifier: unstated · table missing: