Ontario · Receivership (court-appointed)
Eleventh Report of Receiver (without appendices), dated March 17, 2014
Court officer report · 17 March 2014
A plain-language read of this filing opens with a subscription.
What we verified from this filing1 verified
- recovery outcomeentries: basis: actual · quote: By Court Order dated June 11, 2013, an interim distribution of $620,000.00 was made to Faithlife in partial satisfaction of the Faithlife Charge and $72,503.09 was used to repay Receiver's Borrowings provided by Faithlife. · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · amount low: 620000 · cumulative: false · amount high: 620000 · class label: Faithlife (Tudhope Manor Charge) · creditor name: Faithlife · interim final: interim · claims qualifier: unstated; basis: liquidation_alternative · quote: Set out below is a table summarizing a proposed second interim distribution to Faithlife of $180,000 taking into account the remaining reserves compared to net cash reserves held for the property at January 31, 2014 including any fees and GARE, with a final distribution to be undertaken once all such amounts are determined. · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · amount low: 180000 · cumulative: false · amount high: 180000 · class label: Faithlife (Tudhope Manor Charge) · creditor name: Faithlife · interim final: interim · conditional on: with a final distribution to be undertaken once all such amounts are determined · claims qualifier: unstated; basis: unstated · quote: With respect to the Orillia Prep School proceeds the proposed interim distribution contemplates that CRA be paid out $180,000 in partial satisfaction of its deemed trust claim. · pct of: unstated · outcome: distribution · class key: deemed_trust · stated by: receiver · amount low: 180000 · cumulative: false · amount high: 180000 · class label: CRA (deemed trust claim - Orillia Prep/1182689 Ontario Inc.) · creditor name: CRA · interim final: interim · conditional on: with a final distribution to be undertaken once all such amounts are determined · claims qualifier: unstated; basis: estimated · quote: With respect to the Hatch House Montessori School proceeds the proposed interim distribution contemplates the following: (i) that Empire Life be paid $160,000 in partial satisfaction of its charge; (ii) that the Receiver reserve $220,737 in respect of the dispute between the CRA and Empire Life with respect to priority amounts; and (iii) the Receiver reserve $25,500 for all claims and costs required to complete the administration of the global receivership, including any GARE, with a final distribution to be undertaken once all such amounts are determined. · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · amount low: 160000 · cumulative: false · amount high: 160000 · class label: Empire Life (Hatch House Montessori School Charge) · creditor name: Empire Life · interim final: interim · conditional on: with a final distribution to be undertaken once all such amounts are determined · claims qualifier: unstated; basis: actual · quote: A number of the properties owned by Dondeb have now been sold and those creditors who had specific charges registered against them have now been paid in full. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: receiver · class label: creditors with specific charges registered against Dondeb properties · interim final: unstated · claims qualifier: unstated · stated on: 2014-03-17 · table missing: