Alberta · Receivership (court-appointed)
Sixth Report of the Receiver (May 9, 2018)
Court officer report · 9 May 2018
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 filing8 verified
- operational summaryThe Receiver is realizing on the Reid Group's real property through a court-approved sales process. It seeks approval of nine residential sales, three commercial/development sales, a KV Capital credit bid for the Deerfoot Professional Building, and release of lien hold-backs on Reid-owned properties.
- process resultsbids: 21 · note: 21 separate competing offers received for the nine Accepted Residential Offers
- purchaserAmazon Hauling Ltd.; Green Cedar Homes Inc.; La Vita Land Inc.; Footprint Development Group Inc.; Voiture; Elite; KV Capital Inc.
- recovery outcomeentries: basis: unstated · quote: As a result, there will be no recovery for your lien as against the properties registered in the name of a Reid Built entity that has been sold pursuant to the Sale Approval and Vesting Orders granted on April 11, 2018. · pct of: unstated · outcome: nil · class key: landlord · stated by: receiver · class label: builders' lien claimants against Reid Built entity properties · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: We note that in many instances even the prior-registered security claimants will not be paid in full and will suffer a shortfall. · pct of: unstated · outcome: shortfall · class key: secured · stated by: receiver · class label: prior-registered security claimants · interim final: unstated · claims qualifier: unstated · stated on: 2018-05-09 · table missing:
- report date9 May 2018
- report noSixth Report
- sale advisorCBRE Limited; Colliers International; JLL Real Estate Services, Inc.; Colliers
- sale outcometext: Nine residential offers, three commercial offers, and the KV credit bid for Deerfoot accepted, subject to court approval · scope: parcel · status: pending_approval