Alberta · Receivership (court-appointed)
Third Report of the Receiver
Court officer report · 10 June 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: Cash on hand per the Receiver's Statement of Receipts and Disbursements for Osoyoos Mountain Estates Inc. (A + B + C). A further $60,000 of non-cash consideration (the Lot 14 credit bid) was also received. · as at: 2024-06-06 · amount: 3377748 · currency: CAD
- closing confirmedscope: the Lot 14 Claim · outcome: completed · purchaser: Fred North, Temor Holdings Limited Partnership by its general partner Temor Holdings Ltd. and Temor Holdings Ltd. · date basis: unstated · approval order date: 2024-04-16; scope: 118 Peregrine · outcome: completed · date basis: unstated · approval order date: 2024-05-14
- disbursementsnote: Repayment of borrowed funds $6,620, payroll $7,450, bank fee $176, utilities $78, Superintendent of Bankruptcy filing fee $75. · since: August 31, 2023 (Receivership Date) to June 6, 2024 · amount: 14399 · currency: CAD
- operational summaryThe Receiver has sold the Lot 14 Claim and the 118 Peregrine land parcel, and is marketing the remaining vacant lots and the 665 and 90 acre parcels through listing agents. It is seeking approval of a claims procedure and an interim distribution of the sale proceeds to the secured lender.
- professional feesnote: Excludes GST. Fees of the Receiver's legal counsel, MLT Aikins LLP, are a further $32,547 (excluding GST). · party: Receiver (Ernst & Young Inc.) · amount: 61159 · period: since the Receivership Date (August 31, 2023) · currency: CAD
- purchaserFredrick North, Temor Holdings Limited Partnership by its general partner Temor Holdings Ltd. and Temor Holdings Ltd.; price: sealed: false · scope: a 2,532 acre land parcel owned by OMEI municipally located at 118 Peregrine Rd, Osoyoos, BC, V0H 1V6 · status: closed · name note: purchaser of 118 Peregrine, unnamed · structure: real_property · name source: recital · relationship: unstated
- receipts cumulativenote: Property sale $3,372,966 (net proceeds from the sale of 118 Peregrine) plus miscellaneous receipts $10,202. Excludes $60,000 non-cash consideration. · since: August 31, 2023 (Receivership Date) to June 6, 2024 · amount: 3383167 · currency: CAD
- report date10 June 2024
- report noThird Report
- sale advisorHM/Green