British Columbia · Receivership (court-appointed)
First Report of Receiver to Court
Court officer report · 23 October 2023
What we verified from this filing8 verified
- cash on handnote: Labelled 'Funds in Receiver's account' at end of interim Statement of Receipts and Disbursements for the period August 1 to October 18, 2023. · as at: 2023-10-18 · amount: 35616 · currency: CAD
- disbursementsnote: Includes Receiver's fees and disbursements $53,974, legal fees and disbursements $9,143, GST, PST, advertisement, bailiffs, utilities and other miscellaneous items. · since: August 1, 2023 · amount: 71450 · currency: CAD
- fee scheduleengagements: form: report_table · rows: Douglas Chivers; Kevin Koo; Neil Jayamaha; Sofie Parker; rate: 225 · hours: 3.2 · quote: Office Administration | Senior Administrative Assistant | 3.20 | 225 · title: Senior Administrative Assistant · row kind: bucket · rate kind: standard · name as stated: Office Administration; rate: 175 · hours: 2.15 · quote: Office Administration | Administrative Assistant | 2.15 | 175 · title: Administrative Assistant · row kind: bucket · rate kind: standard · name as stated: Office Administration · money: tax: label: GST · quote: GST | 1,361 | 1,361 | 2,722 · amount: 2722 · fees: quote: Fees | 25,580 | 25,580 | 51,160 · amount: 51160 · total: quote: Total | 28,358 | 28,338 | 56,696 · amount: 56696 · includes tax: true · includes disbursements: true · approximate: false · disbursements: quote: Disbursements | 1,417 | 1,397 | 2,814 · amount: 2814 · period: end: 2023-09-15 · kind: invoice · quote: for the period July 4, 2023 to September 15, 2023 is summarized below: · start: 2023-07-04 · approval: quote: The Receiver requests that the Court approve the Receiver's fees and costs incurred to date of $56,696 · state: sought · averages: rate: 444 · quote: 444 * · currency: · invoices: tax: 1360.87 · fees: 25579.75 · quote: July 4, 2023 to September 15, 2023 | 9655 (2) | 25,579.75 | 1,417.33 | 1,360.87 | 28,357.95 · total: 28357.95 · period end: 2023-09-15 · period start: 2023-07-04 · disbursements: 1417.33; tax: 1360.87 · fees: 25579.75 · quote: July 4, 2023 to September 15, 2023 | 9655 (1) | 25,579.75 | 1,397.33 | 1,360.87 | 28,337.95 · total: 28337.95 · period end: 2023-09-15 · period start: 2023-07-04 · disbursements: 1397.33 · firm text: MNP Ltd. · firm quote: MNP Ltd. was appointed as Receiver of the assets, undertakings and properties of 442746 B.C. Ltd. · hours total: quote: 57.65 · value: 57.65 · context quote: MNP Ltd. was appointed as Receiver of the assets, undertakings and properties of 442746 B.C. Ltd. · comparability quote: comparable to Receivership assignments of similar scale and complexity.; form: invoice_listing · rows: · money: · period: end: 2023-09-30 · kind: invoice · quote: SUMMARY OF LAWSON LUNDELL LLP ' S FEES AND INVOICES FOR THE PERIOD AUGUST 1 TO SEPTEMBER 30, 2023 · start: 2023-08-01 · approval: state: unstated · averages: · currency: · invoices: tax: 145.06 · fees: 2871 · quote: 1243993 | 2,871.00 | 30.32 | 145.06 | 200.97 | 3,247.35 · total: 3247.35 · disbursements: 30.32; tax: 83.52 · fees: 1669 · quote: 1246873 | 1,669.00 | 1.40 | 83.52 | 116.83 | 1,870.75 · total: 1870.75 · disbursements: 1.4 · firm text: Lawson Lundell LLP · firm quote: The Receiver engaged Lawson Lundell LLP (' Lawson ') as its independent legal counsel. · context quote: The Receiver engaged Lawson Lundell LLP (' Lawson ') as its independent legal counsel.
- operational summaryThe Receiver managed two residential rental properties (Dundas and Triumph), collecting rent and attending to maintenance, but following redemption of First National's mortgages on September 15, 2023, the Receiver relinquished control of the properties and is seeking its discharge.
- professional feesnote: Legal counsel Lawson Lundell LLP fees incurred to date were $10,236 (fees $9,080 plus GST $458, PST $636, disbursements $62), separately requested for approval. · party: Receiver (MNP Ltd.) · amount: 56696 · period: July 4, 2023 to September 15, 2023 · currency: CAD
- receipts cumulativenote: Comprised of Payment from Debtors $92,640 and Rental Income $14,426. · since: August 1, 2023 · amount: 107066 · currency: CAD
- report date23 October 2023
- report noReceiver's First Report to Court