Alberta · Receivership (court-appointed)
Fifth and Final Report of the Court Appointed Receiver
Court officer report · 23 October 2023
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What we verified from this filing13 verified
- cash on handnote: Combined estate balance for both debtor estates after receipts and disbursements as at October 13, 2023 · as at: 2023-10-13 · amount: 170173 · currency: CAD
- closing confirmedscope: the Peace River Property · outcome: completed · date basis: unstated; scope: Unit 703 · outcome: completed · effective: 2022-03-01 · date basis: stated · approval order date: 2022-02-16; scope: Unit 702 · outcome: completed · effective: 2022-06-17 · date basis: stated · approval order date: 2022-05-12; scope: the Pine Lake Property · outcome: completed · effective: 2022-08-02 · date basis: stated · approval order date: 2022-06-28
- disbursementsnote: Combined total disbursements for Eaglesmed Group Inc. and Chris Musah Professional Corporation · since: February 12, 2021 (Date of Receivership) · amount: 1110860 · currency: CAD
- fee scheduleengagements: form: invoice_listing · rows: · money: tax: label: GST · quote: 10,571 · amount: 10571 · fees: quote: 220,681 · amount: 220681 · total: quote: 221,989 · amount: 221989 · includes tax: true · includes disbursements: true · approximate: false · disbursements: quote: 1,026 · amount: 1026 · period: end: 2023-10-16 · kind: cumulative · quote: Summary of Receiver's Fees As at October 16, 2023 · approval: state: unstated · averages: · currency: · invoices: tax: 3173 · date: 2021-04-30 · fees: 68848 · quote: 8001785610 | 30 - Apr - 21 | Feb 12, 2021 to Apr 16, 2021 · total: 66641 · period end: 2021-04-16 · period start: 2021-02-12 · disbursements: 261; tax: 2130 · date: 2021-12-06 · fees: 46478 · quote: 8002250356 | 6 - Dec - 21 | Apr 17, 2021 to Nov 1, 2021 · total: 44725 · period end: 2021-11-01 · period start: 2021-04-17 · disbursements: 765; tax: 513 · date: 2022-04-04 · fees: 10258 · quote: 8002515459 | 4 - Apr - 22 | Nov 2, 2021 to Jan 31, 2022 · total: 10771 · period end: 2022-01-31 · period start: 2021-11-02; tax: 915 · date: 2022-04-28 · fees: 18300 · quote: 8002577084 | 28 - Apr - 22 | Feb 1, 2022 to Apr 25, 2022 · total: 19215 · period end: 2022-04-25 · period start: 2022-02-01; tax: 1086 · date: 2022-05-27 · fees: 21728 · quote: 8002656033 | 27 - May - 22 | Apr 26, 2022 to May 18, 2022 · total: 22814 · period end: 2022-05-18 · period start: 2022-04-26; tax: 1014 · date: 2022-09-13 · fees: 20278 · quote: 8002892168 | 13 - Sep - 22 | May 19, 2022 to July 18, 2022 · total: 21291 · period end: 2022-07-18 · period start: 2022-05-19; tax: 410 · date: 2022-12-20 · fees: 8200 · quote: 8003167801 | 20 - Dec - 22 | July 25, 2022 to Dec 6, 2022 · total: 8610 · period end: 2022-12-06 · period start: 2022-07-25; tax: 219 · date: 2023-03-29 · fees: 4370 · quote: 8003442160 | 29 - Mar - 23 | Dec 7, 2022 to Feb 9, 2023 · total: 4589 · period end: 2023-02-09 · period start: 2022-12-07; tax: 199 · date: 2023-04-14 · fees: 3978 · quote: 8003510752 | 14 - Apr - 23 | Feb 10, 2023 to Apr 14, 2023 · total: 4176 · period end: 2023-04-14 · period start: 2023-02-10; tax: 38 · date: 2023-05-08 · fees: 768 · quote: 8003592800 | 8 - May - 23 | Apr 15, 2023 to May 8, 2023 · total: 806 · period end: 2023-05-08 · period start: 2023-04-15; tax: 161 · date: 2023-08-24 · fees: 3228 · quote: 8003883159 | 24 - Aug - 23 | May 17, 2023 to August 11, 2023 · total: 3389 · period end: 2023-08-11 · period start: 2023-05-17 · firm text: Deloitte Restructuring Inc. · firm quote: Deloitte Restructuring Inc. (' Deloitte ') was appointed as receiver and manager (the ' Receiver ') · context quote: Deloitte Restructuring Inc. (' Deloitte ') was appointed as receiver and manager (the ' Receiver ')
- operational summaryThe Receiver has sold all remaining properties, is winding down the receivership, and is seeking court approval to finalize distributions to BMO, resolve the alleged trust claim, and obtain its discharge.
- professional feesnote: Excludes GST; legal counsel's (Cassels Brock & Blackwell LLP) fees for the same period total approximately $74,098 (excluding GST) · party: Receiver (Deloitte Restructuring Inc.) · amount: 55070 · period: May 19, 2022 to the Receiver's discharge · currency: CAD
- purchaserprice: sealed: false · scope: the Peace River Property · status: closed · name note: purchaser of the Peace River Property, unnamed · structure: real_property · name source: recital · relationship: unstated
- receipts cumulativenote: Combined total receipts for Eaglesmed Group Inc. and Chris Musah Professional Corporation · since: February 12, 2021 (Date of Receivership) · amount: 1281033 · currency: CAD
- recovery outcomeentries: basis: estimated · quote: | Estimated shortfall in BMO mortgage payout | (158,978) | (27,516) | (47,625) | (83,837) | · pct of: unstated · outcome: shortfall · class key: secured · stated by: receiver · amount low: 158978 · amount high: 158978 · class label: BMO · creditor name: BMO · interim final: unstated · related party: false · claims qualifier: unstated · shortfall amount: 158978; basis: estimated · quote: The Receiver estimates that a final distribution in the amount of approximately $123,000 will be available to distribute to BMO. · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · amount low: 123000 · cumulative: false · amount high: 123000 · class label: BMO · creditor name: BMO · interim final: final · related party: false · claims qualifier: unstated; basis: actual · quote: As at the date of this Fifth Report, the Receiver made an interim distribution to BMO of approximately $649,000 upon notice to CMPC and Dr. Musah and no objections were made. · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · amount low: 649000 · cumulative: false · amount high: 649000 · class label: BMO · creditor name: BMO · interim final: interim · related party: false · claims qualifier: unstated · stated on: 2023-10-23 · table missing:
- report date23 October 2023
- report noFifth and Final Report
- sale advisorRoyal LePage
- sale outcometext: sale of the last remaining Canadian Property, the Peace River Property, has closed · scope: parcel · status: closed