Ontario · Receivership (court-appointed)
Motion Record of the Substitute Receiver dated June 22, 2021
Application / notice of application · 22 June 2021
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What we verified from this filing2 verified
- fee scheduleengagements: form: prose · rows: · money: fees: quote: fees of $142,253.00 (at an average hourly rate of $389.41) · amount: 142253 · approximate: false · disbursements: quote: disbursements of $586.77 (before H.S.T.) · amount: 586.77 · period: end: 2021-05-31 · kind: invoice · quote: professional fees of the Receiver incurred from January 13, 2021 to May 31, 2021 · start: 2021-01-13 · approval: state: unstated · averages: rate: 389.41 · quote: at an average hourly rate of $389.41 · currency: · invoices: · firm text: BDO Canada Ltd. · firm quote: BDO Canada Limited., in its capacity as the substitute receiver (the ' Receiver ') · hours total: quote: amount to 365.3 total hours · value: 365.3 · context quote: BDO Canada Limited., in its capacity as the substitute receiver (the ' Receiver '), without security, of all the assets, undertakings and properties of 1635536 Ontario Inc.; form: prose · rows: · money: fees: quote: fees of $43,217.50 (at an average hourly rate of $473.88) · amount: 43217.5 · approximate: false · disbursements: quote: disbursements of $708.22 (before H.S.T.) · amount: 708.22 · period: end: 2021-05-31 · kind: invoice · label: Billing Period · quote: services rendered to the Receiver for the period from January 15, 2021 through May 31, 2021 (the ' Billing Period ') · start: 2021-01-15 · approval: state: unstated · averages: rate: 473.88 · quote: at an average hourly rate of $473.88 · currency: · invoices: · firm text: Loopstra Nixon LLP · firm quote: I am a lawyer at the law firm Loopstra Nixon LLP (' Loopstra Nixon '), counsel to BDO Canada Ltd. · hours total: quote: amount to 91.2 total hours · value: 91.2 · context quote: professional fees of the Receiver's counsel incurred from January 15, 2021 to May 31, 2021; form: prose · rows: · money: approximate: false · period: kind: unstated · approval: state: unstated · averages: rate: 398.55 · quote: a total of 69.0 hours at an average hourly rate of $398.55 · currency: · invoices: · hours total: quote: a total of 69.0 hours at an average hourly rate of $398.55 · value: 69 · context quote: The particulars of the Prior Receiver Fees & Disbursements are as set out in the Affidavit of John Morgan sworn June 16, 2021 · firm unverified: true; form: prose · rows: · money: total: quote: fees and disbursements of $13,000.00 (before H.S.T., and at an average hourly rate of $402.48) · amount: 13000 · includes tax: false · includes disbursements: true · approximate: false · period: end: 2020-08-31 · kind: invoice · quote: professional fees of the Prior Receiver's counsel incurred from March 12, 2020 to August 31, 2020 · start: 2020-03-12 · approval: state: unstated · averages: rate: 402.48 · quote: at an average hourly rate of $402.48 · currency: · invoices: · context quote: professional fees of the Prior Receiver's counsel incurred from March 12, 2020 to August 31, 2020 · firm unverified: true
- recovery outcomeentries: basis: estimated · quote: after providing for the CRA Deemed Trust Amount, the s81.4 Amount, remittance of HST owing and unpaid professional fees to May 31, 2021 plus a holdback of $40,000 to provide for further costs until discharge, the Receiver estimates $180,000 (the ' Interim Distribution ') is available to distribute to LCX at this time; · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · amount low: 180000 · cumulative: false · amount high: 180000 · class label: LCX · creditor name: Liquid Capital Exchange Corp. · interim final: interim · conditional on: the Receiver also requests the Court authorize and direct it to make further distributions to LCX, should there be further recoveries from the collection of accounts receivable, provided that the sum of all amounts distributed to LCX shall not exceed the amount owed by Versitec to LCX · claims qualifier: unstated · table missing: