Ontario · Receivership (court-appointed)

This Ninth Report is provided to this Court in support of a motion by the Receiver for an Order: a) approving the Ninth Report and the activities and the conduct of the Receiver described therein; b) approving the transaction (the “Third Transaction”), including the Break Fee (as such term is defined below) contemplated by the Third Purchase Agreement between the Receiver and the Third Potential Purchaser; c) vesting in the Third Potential Purchaser, or as it may direct, the Atlas RH Debtors’ right, title and interest in and to the Purchased Assets described in the Third Purchase Agreement, free and clear of any claims and encumbrances except for those permitted encumbrances, easements and restrictive covenants listed on Schedule “D” to the proposed Sale Approval and Vesting Order in respect of the Third Purchase Agreement; d) sealing the unredacted copy of the Third Purchase Agreement, which will be filed separately as Confidential Appendix “1”, and the Summary of Proposals/Offers (as such term is defined below), which will be filed separately as Confidential Appendix “2”, pending the closing of the Third Transaction or further Order of the Court. The Receiver is requesting an Order sealing these appendices because these documents contain financial and other information that could taint the market in the event the Third Transaction does not close, and the RH Real Property is re-marketed; e) authorizing and directing the Receiver to distribute a portion of the net proceeds from the sale of the RH Real Property to Meridian in full and final satisfaction of its secured claim against the Atlas RH Debtors, to Kone Inc. (“Kone”), Weston Consulting Group Inc. (“Weston”), and Capital Drywall Systems Ltd. (“Capital Drywall”) in respect of their priority lien claims, and to Chubb Insurance Company of Canada (“Chubb”) as assignee of nine of the thirteen accepted lien claims (as noted above, Super Save has withdrawn its proof of lien claim), in respect of the priority lien claims, and following these distributions, advice and directions with respect to any additional funds remaining; and, f) approving the Receiver’s interim Statement of Receipts and Disbursements for the period from December 3, 2018 to August 17, 2021,

Court officer report · 17 August 2021