Ontario · Receivership (court-appointed)
First Report of the Receiver dated August 9, 2024
Court officer report · 9 August 2024
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 filing5 verified
- process resultsbids: 1 · ndas: 26 · note: Purchaser was the only party to submit a formal offer, on June 27, 2024, after the June 3, 2024 bid-after date · solicited: 6217
- purchaserTHMR Development Inc.
- recovery outcomeentries: basis: estimated · quote: Based on the Proceeds from Transaction, Fiera is expected to incur a shortfall on its loans to the Debtor. · pct of: unstated · outcome: shortfall · class key: secured · stated by: receiver · class label: Fiera · creditor name: Fiera · interim final: unstated · conditional on: if the proposed Transaction is approved by the Court · claims qualifier: unstated · stated on: 2024-08-09 · table missing:
- sale advisorColliers
- sale outcometext: Receiver selected the Purchaser as successful bidder and executed the APA on July 14, 2024; APA became firm July 29, 2024 after the due diligence condition was waived; Receiver seeks approval and vesting order · scope: whole_business · status: pending_approval