Ontario · Receivership (court-appointed)
Tenth Report of the Construction Receiver dated August 6, 2020
Court officer report · 6 August 2020
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 filing1 verified
- recovery outcomeentries: basis: actual · quote: the Construction Receiver made an interim distribution to Terra Firma in the amount of $1,400,000 on June 19, 2020, representing the balance of the proceeds being held by the Construction Receiver net of necessary reserves. · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · amount low: 1400000 · cumulative: false · amount high: 1400000 · class label: Terra Firma · creditor name: Terra Firma · interim final: interim · claims qualifier: unstated; basis: actual · quote: Travelers' claim of approximately $1.1 million was paid in full pursuant to the Settlement Approval Order · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: receiver · class label: Travelers · claims amount: 1100000 · creditor name: Travelers · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: The high-end of the March 2019 Projections highlighted the theoretical possibility of a distribution under Stage 12 of the distribution waterfall in the Settlement Approval Order to Terra Firma, construction lien claimants and Leslieville Unit purchasers in the aggregate amount of $1.1 million. · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · amount high: 1100000 · class label: Terra Firma, construction lien claimants and Leslieville Unit purchasers (Stage 12 distribution) · interim final: unstated · conditional on: high-end of the March 2019 Projections; theoretical possibility under Stage 12 of the distribution waterfall · claims qualifier: unstated; basis: estimated · quote: The low-end of the March 2019 Projections illustrated that that there would only be sufficient funds to make Stage 11 distributions to Terra Firma, and that no funds would be available under Stage 12. · pct of: unstated · outcome: nil · stated by: receiver · class label: Stage 12 distribution (low-end of March 2019 Projections) · interim final: unstated · conditional on: low-end of the March 2019 Projections · claims qualifier: unstated · stated on: 2020-08-06 · table missing: