Ontario · Receivership (court-appointed)
Trustee's Preliminary Report dated November 17, 2025
Court officer report · 17 November 2025
Also filed as: Trustee's Preliminary Report dated November 17, 2025
A plain-language read of this filing opens with a subscription.
What we verified from this filing1 verified
- recovery outcomeentries: basis: actual · quote: Peoples Trust Company (' Peoples '), the first mortgagee over the Real Property, received a distribution of certain amounts owing to it as of the Closing Date under its loan to the Company secured by its first mortgage over the Real Property, with the remaining loan amount (and related first mortgage) assumed by the Purchaser; · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · class label: Peoples Trust Company (first mortgagee) · creditor name: Peoples Trust Company · interim final: unstated · claims qualifier: unstated; basis: actual · quote: the loan of ACM Advisors Ltd. (' ACM ') to the Company, secured by its second mortgage over the Real Property, was partially assumed by the Purchaser, resulting in ACM incurring a shortfall under its loan exceeding $1 million, subject to any further recoveries; and · pct of: unstated · outcome: shortfall · class key: secured · stated by: receiver · class label: ACM Advisors Ltd. (second mortgagee) · creditor name: ACM Advisors Ltd. · interim final: unstated · conditional on: subject to any further recoveries · claims qualifier: unstated · shortfall amount: 1000000; basis: estimated · quote: Based on the lack of assets in the estate, and the Trustee's lack of funding, the Trustee does not anticipate making a distribution to creditors. · pct of: unstated · outcome: nil · stated by: trustee · class label: creditors · interim final: unstated · claims qualifier: unstated · stated on: 2025-11-17 · table missing: