Ontario · CCAA
Thirty Eight Report of the Monitor
Court officer report · 29 November 2021
Also filed as: Thirty Eight Report of the Monitor; Thirty Eight Report of the Monitor; Thirty Eight Report of the Monitor; Thirty Eight Report of the Monitor
What we verified from this filing5 verified
- operational summaryThe Monitor is finalizing the sale of the Edge Space to a purchaser under an APS, transferring the Cultural Space to the City of Toronto, resolving disputed creditor claims (including Tarion and TSCC 2448) before making further unsecured distributions, and continuing to sell remaining Westside parking spots; the corporate entities themselves have no ongoing operations or employees.
- professional feesnote: Comprising fees of $49,660.20, disbursements of $37.90 plus HST of $6,460.75; separately, Monitor's legal counsel GSNH fees and disbursements for August 1, 2021 to October 31, 2021 totalled $57,653.65 (fees $50,277.50, disbursements $766.43, HST $6,609.72). · party: Monitor (Fuller Landau Group Inc.) · amount: 56158.85 · period: May 2021 for Urbancorp Cumberland 2 G.P. and August 1, 2021 to October 31, 2021 for all other entities · currency: CAD
- recovery outcomeentries: basis: unstated · quote: In light of this new secured claim and the potential impact to Tarion and accordingly Aviva' secured claim, the Monitor is unable to determine the amount required to reserve for secured claims in order to issue a distribution to the unsecured creditors. · pct of: unstated · outcome: undetermined · class key: unsecured · stated by: monitor · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: Prior to the receipt of TSCC 2448's new claim, the Monitor anticipated being able to issue a $3.5 to $4 million distribution to the unsecured creditors. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: monitor · amount low: 3500000 · amount high: 4000000 · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated · stated on: 2021-11-29 · table missing:
- report date29 November 2021
- report noThirty Eighth Report