Alberta · Receivership (court-appointed)
Third Report of the Receiver
Court officer report · 3 October 2008
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing7 verified
- cash on handnote: Cash balance in the Receiver's account; the statement of receipts and disbursements shows $228,065.47. The estimated realization table rounds it to $228,000. · as at: 2008-09-30 · amount: 228065 · currency: CAD
- disbursementsnote: Statement table shows total disbursements of $888,107.10. · since: August 2007 (the statement is headed August 16, 2007 to September 30, 2008; the report text says August 30, 2007) · amount: 888107 · currency: CAD
- operational summaryKlytie's is in receivership and no longer operates. The Receiver is realizing remaining assets (surplus mortgage proceeds, a settlement for the Sorochuk property, condo deposits and Texas land), running a claims process and preparing for a distribution to investors and creditors. Its former principal Hidai Friedman failed to appear at his criminal trial and a warrant has been issued.
- professional feesnote: Receiver's fees and disbursements per the statement of receipts and disbursements. Legal fees and disbursements for Canadian counsel were $359,867.58, other counsel $211,751.88. GST paid was $36,136.55. Estimated professional fees to completion are $80,000 to $100,000. · party: Receiver (Ernst & Young Inc.) · amount: 277801.25 · period: August 16, 2007 to September 30, 2008 · currency: CAD
- receipts cumulativenote: Statement table shows total receipts of $1,116,172.57. · since: August 2007 (the statement is headed August 16, 2007 to September 30, 2008; the report text says August 30, 2007) · amount: 1116172 · currency: CAD
- report date3 October 2008
- report noThird Report of the Receiver