Ontario · Receivership (court-appointed)
Motion Record of the Receiver returnable January 18, 2022
Application / notice of application · 12 January 2022
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 filing1 verified
- recovery outcomeentries: basis: actual · quote: In accordance with the Statement of Receipts and Disbursements, the Receiver proposes making an interim distribution to the Bank in the amount of $12,175,000 as a permanent reduction of the NBC Secured Indebtedness. · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · amount low: 12175000 · amount high: 12175000 · class label: NBC · claims amount: 12301801 · creditor name: National Bank of Canada · interim final: interim · claims qualifier: unstated; basis: estimated · quote: The Receiver anticipates there will be sufficient funds in the estate to fully satisfy the NBC Secured Indebtedness once additional proceeds are collected from HST refunds. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: receiver · class label: NBC · creditor name: National Bank of Canada · interim final: unstated · conditional on: once additional proceeds are collected from HST refunds · claims qualifier: unstated · stated on: 2022-01-12 · table missing: The chart below illustrates the funds that will be remaining in the estate once the proposed distributions are made: