British Columbia · Receivership (court-appointed)
First Receiver's Report
Court officer report · 17 January 2024
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What we verified from this filing1 verified
- secured creditorsnote: Related party: Aquilini Development Limited Partnership is also the Petitioner and separately provides the post-filing Receiver's Borrowings (DIP) facility; interest also accruing at a per diem rate of $51,222 (approx. $5.93 million) from the Receivership Date to the Outside Closing Date, and this indebtedness forms the credit bid consideration in the Stalking Horse Bid (approx. $80.41 million total purchase price including Receiver Borrowings) · page: 23 · as of: Receivership Date (December 4, 2023) · amount: 73450000 · debtor: Garibaldi at Squamish Inc. and Garibaldi at Squamish Limited Partnership (GAS) · creditor: Debenture Holders (Aquilini Development Limited Partnership, Garibaldi Resort Management Company Ltd., and 1413994 B.C. Ltd.) · currency: CAD · security: Debentures; validity and enforceability confirmed by independent legal opinion obtained by the Receiver, including enforceability against a subsequently appointed Licensed Insolvency Trustee in bankruptcy