Ontario · Receivership (court-appointed)
Second Report of the Receiver
Court officer report · 28 July 2025
What we verified from this filing11 verified
- cash on handnote: Receiver also holds an additional $1,000,000 advanced by Star America pending motion approval. · as at: 2025-06-30 · amount: 94332 · currency: CAD
- closing confirmedscope: the Fluke power meter · outcome: completed · effective: 2024-06-07 · date basis: stated; scope: license agreement for the use of SCADA · outcome: completed · effective: 2024-08-01 · purchaser: Edgecom · date basis: stated
- fee scheduleengagements: form: report_table · rows: · money: fees: quote: giving rise to fees totalling $680,778 · amount: 680778 · total: quote: together with disbursements and HST in the amount of $100,746.12 totaling $781,524.12 · amount: 781524.12 · includes tax: true · includes disbursements: true · approximate: false · period: end: 2025-07-15 · kind: invoice · label: Period · quote: rendered by Goodmans to the Receiver for the period from July 8, 2024 to July 15, 2025 (the ' Period ') · start: 2024-07-08 · approval: state: unstated · averages: rate: 878.76 · quote: at an average hourly rate of $878.76 · currency: · invoices: · firm text: Goodmans · firm quote: rendered by Goodmans to the Receiver for the period from July 8, 2024 to July 15, 2025 (the ' Period ') · hours total: quote: Goodmans expended a total of 774.7 hours · value: 774.7 · context quote: Attached hereto and marked as Exhibit 'A' are true copies of the accounts (the ' Goodmans Accounts ') rendered by Goodmans to the Receiver for the period from July 8, 2024 to July 15, 2025 (the ' Period ')
- financial positionnote: Figures from First Report background section, not from this Second Report's own financial statements; liabilities stated as all owed to unsecured creditors, no secured creditors. · as at: 2023-11-22 · basis: book value · scope: entity (Demand Power Group Inc.) · currency: CAD · total assets: 90935 · total liabilities: 238121
- operational summaryThe Receiver is progressing toward closing the Narrows Green sale transaction and continues to advance ongoing litigation (the Deltro Lien Actions) with counsel, while seeking increased borrowing powers to fund the receivership.
- process resultsbids: 5 · ndas: 5 · note: eight parties contacted, five executed NDAs and all five submitted Bids by the Bid Deadline
- professional feesnote: Excludes disbursements of $15,787.05 and HST of $17,651.99 (totaling $153,436.54). Goodmans (counsel) fees separately totaled $680,778.00 plus disbursements/HST of $100,746.12 totaling $781,524.12 for July 8, 2024 to July 15, 2025. · party: Deloitte Restructuring Inc. (the Receiver) · amount: 119997.5 · period: November 1, 2024 to June 30, 2025 · currency: CAD
- purchaserNarrows Green LP; Edgecom
- report date21 July 2025
- report noSecond Report
- sale outcometext: Narrows Green Transaction taken substantially all steps toward closing, with closing anticipated imminently, as of the Second Report · scope: parcel · status: pending_approval