British Columbia · Receivership (court-appointed)
Third Report of the Receiver (Jan 18, 2024)
Court officer report · 18 January 2024
What we verified from this filing2 verified
- fee scheduleengagements: form: report_table · rows: Jervis Rodrigues; Chris Bowra; Martin Chan; Troy Ches ley; Jessie Hue; rate: 180 · hours: 42.2 · quote: Administration | | 180 · row kind: bucket · rate kind: average · name as stated: Administration; rate: 389 · hours: 765.05 · quote: 389 | 370.80 | 171.20 | 223.05 | 765.05 · row kind: subtotal · rate kind: average · name as stated: Total · money: tax: label: GST · quote: GST | 7,823 | 3,474 | 4,341 | 15,638 · amount: 15638 · fees: quote: Fees | 141,826 | 69,079 | 86,513 | 297,418 · amount: 297418 · total: quote: Total | 166,354 | 72,950 | 91,163 | 330,466 · amount: 330466 · includes tax: true · includes disbursements: true · approximate: false · disbursements: quote: Disbursements | 16,704 | 398 | 309 | 17,411 · amount: 17411 · period: end: 2023-11-17 · kind: interim · quote: For the period of January 3, 2023, to November 17, 2023, a summary of the Receiver's fees and disbursements were: · start: 2023-01-03 · approval: quote: The Receiver requests that the Court approve the Receiver's fees and costs incurred to date of $330,000 and additional fees and costs to a maximum of $15,000 to complete the administration of the Receivership. · state: sought · averages: rate: 389 · quote: 389 · currency: · invoices: · firm text: BDO Canada Limited · firm quote: BDO Canada Limited · hours total: quote: 765.05 · value: 765.05 · context quote: On December 2, 2022, the BDO Canada Limited was appointed as receiver · comparability quote: comparable to receivership proceedings of similar scale and complexity
- recovery outcomeentries: basis: estimated · quote: If not for Hampton fully satisfying the secured claim of Mitsubishi, Mitsubishi would have experienced a significant shortfall on its secured claim exceeding $700,000 as set out in the chart below. · pct of: unstated · outcome: shortfall · class key: secured · stated by: receiver · class label: Mitsubishi HC Capital Canada Inc. (senior secured creditor) · creditor name: Mitsubishi HC Capital Canada Inc. · interim final: unstated · conditional on: if not for Hampton fully satisfying the secured claim of Mitsubishi · claims qualifier: unstated · shortfall amount: 700000; basis: actual · quote: No payment will be made in respect of Wl for the employee priority claims, as the claims rank behind payroll source deductions, of which there were insufficient proceeds realized from the sale of Wl's assets to satisfy CRA's priority claim. · pct of: unstated · outcome: nil · class key: weppa · stated by: receiver · class label: Wl employee priority claims (WEPPA) · claims amount: 26000 · interim final: unstated · claims qualifier: estimated; basis: actual · quote: The Receiver has paid out the priority claim of $7,983 for Vic Van and $22,822 for Lortap. · pct of: unstated · outcome: distribution · class key: weppa · stated by: receiver · amount low: 7983 · amount high: 7983 · class label: Vic Van employee priority claims (WEPPA) · interim final: unstated · claims qualifier: unstated; basis: actual · quote: The Receiver has paid out the priority claim of $7,983 for Vic Van and $22,822 for Lortap. · pct of: unstated · outcome: distribution · class key: weppa · stated by: receiver · amount low: 22822 · amount high: 22822 · class label: Lortap employee priority claims (WEPPA) · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: There will be no recovery for unsecured creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: receiver · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated · stated on: 2024-01-18 · table missing: