Manitoba · Receivership (court-appointed)
Second Report of the Receiver – Dated July 24, 2024
Court officer report · 24 July 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 filing10 verified
- cash on handnote: Stated as the amount held in trust by the Receiver at the end of the period June 11 to July 22, 2024; excludes the Reworked Transaction deposit, which had not yet been received. · as at: 2024-07-22 · amount: 786277 · currency: CAD
- closing confirmedscope: specific assets of Genesus and Can-Am (Prior APA) · outcome: not_completed · purchaser: GGTI · date basis: unstated · approval order date: 2024-07-04
- disbursementsnote: Report text states total disbursements as $786,277 for the period to July 22, 2024. The same figure is also given as the amount held in trust; the figures appear inconsistent with receipts of $1,882,263. · since: June 11, 2024 (Date of Receivership) · amount: 786277 · currency: CAD
- operational summaryThe Receiver continued operating two livestock facilities to maintain value while negotiating a reworked sale of specific assets to GGTI after the prior agreement failed to close. It plans to collect receivables, list the remaining properties for sale and auction surplus equipment.
- purchaserGenesus Genetics Technology Inc.; GGTI
- receipts cumulativenote: Excludes the Reworked Transaction deposit which has not yet been received. · since: June 11, 2024 (Date of Receivership) · amount: 1882263 · currency: CAD
- report date24 July 2024
- report noSecond Report
- sale advisorRitchie Bros Auctioneers, Inc.
- sale outcometext: Reworked APA and Reworked Transaction proposed for Court approval after Prior APA failed to close · scope: parcel · status: pending_approval