Quebec · Receivership (court-appointed)
Interim Report Submitted as Receiver
Court officer report · 15 July 2014
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 filing8 verified
- cash on handnote: Amount in the possession of/controlled by the Receiver as of June 30, 2014; Appendix A shows amount available for distribution of 1,004,845.83. · as at: 2014-06-30 · amount: 1004845.83 · currency: EUR · qualifier: approximately
- disbursementsnote: Period from January 16, 2014 to June 30, 2014; includes €772K distributions to the Secured Creditors. · since: 2014-01-16 · amount: 1444709.81 · currency: EUR
- operational summaryThe Receiver controls the Wittenberg, Germany property, its rental receivables and bank accounts, continues the asset manager's mandate and monitors receipts and disbursements. A sale is aimed for on or before the secured loan's 2016 maturity, but the receivership's completion cannot yet be predicted.
- professional feesnote: Report text states €44K for the Receiver's (and its legal counsels') fees; Appendix A shows Receiver's fees and costs of 43,831.12. Secured Creditors' legal fees of €144K are separate. Tax treatment not stated. · party: Receiver (and the Receiver's legal counsels) · amount: 43831.12 · period: 2014-01-16 to 2014-06-30 · currency: EUR
- receipts cumulativenote: Period from January 16, 2014 to June 30, 2014; mainly realization of cash balances (€1,459K) and rental receivables collected (€991K). · since: 2014-01-16 · amount: 2449555.64 · currency: EUR
- recovery outcomeentries: basis: unstated · quote: (a) Distributions to the Secured Creditors in the amount of €772K. · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · amount low: 772000 · cumulative: false · amount high: 772000 · class label: Secured Creditors · creditor name: Titan Europe 2006-5 P.L.C. and Credit Suisse International · interim final: unstated · claims qualifier: unstated · table missing:
- report date15 July 2014
- report noFirst Report