Ontario · Receivership (court-appointed)
Motion Record of the Receiver returnable September 14, 2023
Application / notice of application · 14 September 2023
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What we verified from this filing2 verified
- fee scheduleengagements: form: prose · rows: · money: approximate: false · period: kind: unstated · approval: state: unstated · averages: rate: 445.02 · quote: The average hourly rate for the Receiver and A&B for the referenced billing period was $445.02 and $590.16, respectively. · scope: the Receiver · currency: · invoices: · firm text: KSV Restructuring Inc. · firm quote: THIS MOTION , made by KSV Restructuring Inc. (' KSV '), in its capacity as the Courtappointed receiver and manager (in such capacity, the ' Receiver ') · context quote: in its capacity as the Courtappointed receiver and manager (in such capacity, the ' Receiver '); form: prose · rows: · money: approximate: false · period: kind: unstated · approval: state: unstated · averages: rate: 590.16 · quote: The average hourly rate for the Receiver and A&B for the referenced billing period was $445.02 and $590.16, respectively. · scope: A&B · currency: · invoices: · firm text: Aird & Berlis LLP · firm quote: AIRD & BERLIS LLP · context quote: AIRD & BERLIS LLP
- recovery outcomeentries: basis: actual · quote: All creditors of Go-To Glendale have been paid in full, except for two disputed claims (the 'Glendale Disputed Claims'), as discussed further below. · pct of: unstated · outcome: paid_in_full · class key: unsecured · stated by: receiver · class label: creditors of Go-To Glendale · interim final: unstated · conditional on: except for two disputed claims · claims qualifier: unstated; basis: actual · quote: The proceeds from the sale of the Glendale Real Property were also sufficient to repay, in full, the original capital invested by the limited partners of Go-To Glendale. · pct of: unstated · outcome: paid_in_full · pct low: 100 · pct high: 100 · class key: equity · stated by: receiver · class label: limited partners of Go-To Glendale · interim final: unstated · claims qualifier: unstated; basis: actual · quote: All other valid creditor claims for these three Projects were paid in full pursuant to the November 23 rd Order. · pct of: unstated · outcome: paid_in_full · class key: unsecured · stated by: receiver · class label: creditor claims for Go-To Glendale, Go-To Chippawa, Go-To Stoney Creek · interim final: unstated · claims qualifier: unstated; basis: actual · quote: The Receiver has made an interim distribution of 30% of the original capital owing to Go-To Chippawa's limited partners and 20% of the original capital owing to Go-To Stoney Creek's limited partners. · pct of: unstated · outcome: distribution · pct low: 30 · pct high: 30 · class key: equity · stated by: receiver · class label: limited partners of Go-To Chippawa · interim final: interim · claims qualifier: unstated; basis: actual · quote: The Receiver has made an interim distribution of 30% of the original capital owing to Go-To Chippawa's limited partners and 20% of the original capital owing to Go-To Stoney Creek's limited partners. · pct of: unstated · outcome: distribution · pct low: 20 · pct high: 20 · class key: equity · stated by: receiver · class label: limited partners of Go-To Stoney Creek · interim final: interim · claims qualifier: unstated; basis: actual · quote: HK United: $43,194; · pct of: unstated · outcome: distribution · class key: pmsi_lessor · stated by: receiver · amount low: 43194 · amount high: 43194 · class label: HK United · creditor name: HK United · interim final: unstated · claims qualifier: unstated; basis: actual · quote: HC Matcon: $25,902; · pct of: unstated · outcome: distribution · class key: pmsi_lessor · stated by: receiver · amount low: 25902 · amount high: 25902 · class label: HC Matcon · creditor name: HC Matcon · interim final: unstated · claims qualifier: unstated; basis: actual · quote: Soil-Mat: $30,244; and · pct of: unstated · outcome: distribution · class key: pmsi_lessor · stated by: receiver · amount low: 30244 · amount high: 30244 · class label: Soil-Mat · creditor name: Soil-Mat · interim final: unstated · claims qualifier: unstated; basis: actual · quote: To date, Imperio has recovered approximately $2.956 million. This is less than the indebtedness owing to Imperio, being approximately $3.4 million plus interest and costs, which continue to accrue. · pct of: unstated · outcome: shortfall · class key: secured · stated by: receiver · cumulative: true · class label: Imperio · claims amount: 3400000 · creditor name: Imperio · interim final: unstated · claims qualifier: estimated; basis: estimated · quote: Accordingly, no distributions are expected to be made to Go-To Eagle Valley's other creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: receiver · class label: Go-To Eagle Valley's other creditors · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: As discussed in the Prior Reports, the realizations from the sale of the Real Property owned by Go-To Beard, Go-To Major Mackenzie, Go-To Aurora, and, as set out in Section 6.0 below, Go-To Vaughan, are not projected to be sufficient to make any distributions to unsecured creditors and investors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: receiver · class label: unsecured creditors and investors of Go-To Beard, Go-To Major Mackenzie, Go-To Aurora, Go-To Vaughan · interim final: unstated · claims qualifier: unstated; basis: actual · quote: As noted in the Sixth Report, immediately following closing of the Adelaide Transaction (as defined in the Sixth Report), distributions were made to Cameron Stephens Mortgage Capital Ltd. ('Cameron Stephens') and Northridge Maroak Developments Inc. to fully repay their mortgages on the Adelaide Real Property (being approximately $55.6 million and $18.0 million, respectively), as authorized and directed by the Court. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: receiver · amount low: 55600000 · amount high: 55600000 · class label: Cameron Stephens Mortgage Capital Ltd. · creditor name: Cameron Stephens Mortgage Capital Ltd. · interim final: unstated · claims qualifier: unstated; basis: actual · quote: As noted in the Sixth Report, immediately following closing of the Adelaide Transaction (as defined in the Sixth Report), distributions were made to Cameron Stephens Mortgage Capital Ltd. ('Cameron Stephens') and Northridge Maroak Developments Inc. to fully repay their mortgages on the Adelaide Real Property (being approximately $55.6 million and $18.0 million, respectively), as authorized and directed by the Court. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: receiver · amount low: 18000000 · amount high: 18000000 · class label: Northridge Maroak Developments Inc. · creditor name: Northridge Maroak Developments Inc. · interim final: unstated · claims qualifier: unstated · stated on: 2023-09-01 · table missing: