Alberta · Receivership (court-appointed)
Receiver's Second Report
Court officer report · 10 February 2017
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What we verified from this filing7 verified
- operational summaryTCC did not continue to operate after the Receiver's appointment; the Receiver did not take possession of TCC's US assets but negotiated a sale of TCC assets to Eastar and pursued Chapter 15 recognition proceedings in the US.
- professional feesnote: No specific amount stated; noted that fees will impact estate recoveries due to protracted negotiations and cross-border nature. · party: Receiver, its Canadian counsel and its United States counsel · currency: CAD
- purchaserEastar Premium Pipe Inc.
- recovery outcomeentries: basis: estimated · quote: As it is expected there will be a shortfall to TD, TD is the only creditor that will be affected by the sale. · pct of: unstated · outcome: shortfall · class key: secured · stated by: receiver · class label: TD · creditor name: TD · interim final: unstated · claims qualifier: unstated · stated on: 2017-02-10 · table missing:
- report date10 February 2017
- report noSecond Report
- sale outcometext: Receiver seeks approval of the sale of TCC assets to Eastar and a vesting order, sale not yet closed pending court approval and US recognition proceedings · scope: parcel · status: pending_approval