Manitoba · Receivership (court-appointed)
First Report of the Receiver
Court officer report · 21 January 2021
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 filing2 verified
- fee scheduleengagements: form: invoice_listing · rows: · money: tax: label: GST · quote: 5,445 $ · amount: 5445 · fees: quote: 107,708 $ · amount: 107708 · total: quote: 114,353 $ · amount: 114353 · includes tax: true · includes disbursements: true · approximate: false · disbursements: quote: 1,200 $ · amount: 1200 · period: kind: cumulative · approval: state: unstated · averages: · currency: · invoices: tax: 2844 · date: 2020-11-11 · fees: 56390 · quote: 11-Nov-20 | 8001451593 | 56,390 $ | 488 $ | 2,844 $ | 59,721 $ | 135.9 · total: 59721 · disbursements: 488; tax: 2602 · date: 2021-01-15 · fees: 51318 · quote: 15-Jan-21 | 8001557782 | 51,318 | 713 | 2,602 | 54,632 | 115.7 · total: 54632 · disbursements: 713 · firm text: Deloitte Restructuring Inc. · firm quote: FIRST REPORT OF DELOITTE RESTRUCTURING INC., IN ITS CAPACITY AS COURT APPOINTED RECEIVER OF KINGS CARGO EXPRESS LTD. AND CANADA CARGO LINES LTD. · hours total: quote: 251.6 · value: 251.6 · context quote: In its capacity as Receiver of Kings Cargo Express Ltd. and Canada Cargo Lines Ltd. and not in its personal capacity.; form: invoice_listing · rows: · money: tax: label: GST · quote: 1,649 $ · amount: 1649 · fees: quote: 31,943 $ · amount: 31943 · total: quote: 36,910 $ · amount: 36910 · includes tax: true · includes disbursements: true · approximate: false · disbursements: quote: 1,082 $ · amount: 1082 · period: kind: cumulative · approval: state: unstated · averages: · currency: · invoices: tax: 811 · date: 2020-11-03 · fees: 15792 · quote: 3-Nov-20 | 627317 | 15,792 $ | 471 $ | 811 $ | 1,105 $ | 18,180 $ | 38.7 · total: 18180 · disbursements: 471; tax: 568 · date: 2020-12-10 · fees: 10741 · quote: 10-Dec-20 | 629887 | 10,741 | 610 | 568 | 752 | 12,671 | 25.9 · total: 12671 · disbursements: 610; tax: 271 · date: 2021-01-12 · fees: 5410 · quote: 12-Jan-21 | 631664 | 5,410 | 1 | 271 | 379 | 6,059 | 11.0 · total: 6059 · disbursements: 1 · firm text: Taylor McCaffrey LLP · firm quote: TAYLOR MCCAFFREY LLP SUMMARY OF LEGAL FEES AND DISBURSEMENTS · hours total: quote: 75.6 · value: 75.6 · context quote: Appendix D - Fees and Disbursements of the Receiver's Legal Counsel
- recovery outcomeentries: basis: estimated · quote: Approval of the Lavish APA (and vesting Order (the ' Vesting Order ')) is supported by TD (but only until January 29, 2021, or such further date as agreed to solely by TD), which is not only the largest stakeholder in the receivership proceedings, but is also likely to sustain a significant shortfall in recovery of the Companies' indebtedness. · pct of: unstated · outcome: shortfall · class key: secured · stated by: receiver · class label: TD · creditor name: The Toronto-Dominion Bank · interim final: unstated · claims qualifier: unstated · stated on: 2021-01-21 · table missing: