Manitoba · Receivership (court-appointed)
Receiver's Report 21
Court officer report · 8 November 2023
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What we verified from this filing8 verified
- cash on handnote: Described as Residual Trust Funds held in trust · as at: 2023-10-31 · amount: 44833 · currency: CAD · qualifier: approximately
- disbursementssince: December 31, 2021 · amount: 658383 · currency: CAD
- fee scheduleengagements: form: report_table · rows: fees: 191650 · rate: 500 · hours: 383 · quote: Partner | 225 | 500 | 112,500 | 383 | 500 | 191,650 · title: Partner · row kind: level · rate kind: standard · name as stated: Partner; fees: 93080 · rate: 400 · hours: 233 · quote: Senior Manager | 200 | 400 | 80,000 | 233 | 400 | 93,080 · title: Senior Manager · row kind: level · rate kind: standard · name as stated: Senior Manager; fees: 39011 · rate: 243 · hours: 160 · quote: Senior Associate | 350 | 225 | 78,750 | 160 | 243 | 39,011 · title: Senior Associate · row kind: level · rate kind: standard · name as stated: Senior Associate; fees: 323741 · hours: 776 · quote: Subtotal | 775 | 1,125 | 271,250 | 776 | 1,143 | 323,741 · row kind: subtotal · rate kind: standard · name as stated: Subtotal · money: tax: label: GST · quote: GST | | | 13,563 | | | 16,187 | | | (2,625) · amount: 2625 · total: quote: in the amount of $55,115 (inclusive of GST) · amount: 55115 · includes tax: true · approximate: false · period: kind: unstated · quote: the Receiver is seeking Court approval of its additional fees incurred as at the date of this Report No. 21 in the amount of $55,115 (inclusive of GST) · approval: quote: the Receiver is seeking Court approval of its additional fees incurred as at the date of this Report No. 21 in the amount of $55,115 (inclusive of GST) · state: sought · averages: · currency: · invoices: · firm text: Deloitte Restructuring Inc. · firm quote: appointing Deloitte Restructuring Inc. (formerly Deloitte & Touche Inc., hereafter referred to as ' Deloitte ' or the ' Receiver ') · hours total: quote: Subtotal | 775 | 1,125 | 271,250 | 776 | 1,143 | 323,741 | (1) | (18) | (52,491) · value: 776 · context quote: as Receiver and Manager of the Crocus Investment Fund (' Crocus ' or the ' Fund ') · comparability quote: The rates charged by the Receiver are comparable to the rates charged for the provision of services by other professional firms providing specialized financial advisory and restructuring services and the fees are fair and reasonable in the circumstances.; form: prose · rows: · money: approximate: false · period: kind: unstated · approval: quote: The January 17, 2022 Order approved the Receiver's fees, and the fees of the Receiver's legal counsel, for the period April 1, 2016 to December 31, 2021, and further approved the Receiver's Holdback. · state: approved · order date: 2022-01-17 · averages: · currency: · invoices: · context quote: the fees of the Receiver's legal counsel, for the period April 1, 2016 to December 31, 2021 · firm unverified: true
- operational summaryThe receivership is winding down: the Receiver completed the Final Distribution, remitted unclaimed shareholder entitlements to the Minister of Finance, terminated back-office service arrangements, and is seeking final fee approval and disposition of residual trust funds to conclude the proceedings.
- professional feesnote: Inclusive of GST; Receiver seeking approval of additional fees of $55,115 exceeding the estimated holdback amount · party: Receiver (Deloitte Restructuring Inc.) · amount: 339928 · currency: CAD
- receipts cumulativesince: December 31, 2021 · amount: 53217 · currency: CAD
- report date8 November 2023
- report noReceiver's Report No. 21