Ontario · Receivership (court-appointed)
Second Report of the Receiver (for motion returnable July 29, 2024)
Court officer report · 29 July 2024
A plain-language read of this filing opens with a subscription.
What we verified from this filing10 verified
- cash on handnote: Funds held in Receiver's trust account, considered property of SGM · as at: 2024-07-17 · amount: 52649 · currency: CAD
- closing confirmedscope: the Real Property · outcome: completed · effective: 2022-11-25 · purchaser: 3305 Deziel Inc. · date basis: stated · approval order date: 2022-11-23; scope: the Purchased Assets · outcome: completed · effective: 2022-11-25 · purchaser: Arlen Tool Co. Ltd · date basis: stated · approval order date: 2022-11-23
- fee scheduleengagements: form: prose · rows: · money: fees: quote: for a total of $134,031.50 and applicable taxes · amount: 134031.5 · approximate: false · period: kind: cumulative · quote: The Receiver's fees encompass 333.7 hours at an average hourly rate of approximately $401.65 for a total of $134,031.50 and applicable taxes. · approval: state: unstated · averages: rate: 401.65 · quote: an average hourly rate of approximately $401.65 · currency: · invoices: · firm text: Albert Gelman Inc. · firm quote: This second report (' Second Report ') is filed by Albert Gelman Inc. (' AGI ') , in its capacity as receiver · hours total: quote: The Receiver's fees encompass 333.7 hours · value: 333.7 · context quote: in its capacity as receiver (in such capacity, the ' Receiver '); form: prose · rows: · money: fees: quote: for a total of $62,900.00 prior to disbursements and applicable taxes · amount: 62900 · approximate: false · period: kind: cumulative · quote: A&B's fees encompass 138.2 hours at an average hourly rate of approximately $455.14 for a total of $62,900.00 prior to disbursements and applicable taxes. · approval: state: unstated · averages: rate: 455.14 · quote: an average hourly rate of approximately $455.14 · currency: · invoices: · firm text: A&B · firm quote: A&B's fees encompass 138.2 hours at an average hourly rate of approximately $455.14 for a total of $62,900.00 prior to disbursements and applicable taxes. · hours total: quote: A&B's fees encompass 138.2 hours · value: 138.2 · context quote: A&B's fees encompass 138.2 hours at an average hourly rate of approximately $455.14 for a total of $62,900.00 prior to disbursements and applicable taxes.; form: prose · rows: · money: fees: quote: for a total of $146,017.50 and applicable taxes · amount: 146017.5 · approximate: false · period: kind: cumulative · quote: The Receiver's fees encompass 375.1 hours at an average hourly rate of approximately $389.28 for a total of $146,017.50 and applicable taxes. · approval: state: unstated · averages: rate: 389.28 · quote: an average hourly rate of approximately $389.28 · currency: · invoices: · firm text: Albert Gelman Inc. · firm quote: This second report (' Second Report ') is filed by Albert Gelman Inc. (' AGI ') , in its capacity as receiver · hours total: quote: The Receiver's fees encompass 375.1 hours · value: 375.1 · context quote: in its capacity as receiver (in such capacity, the ' Receiver '); form: prose · rows: · money: fees: quote: for a total of $61,953.00 prior to disbursements of $693.25 and applicable taxes · amount: 61953 · approximate: false · disbursements: quote: prior to disbursements of $693.25 and applicable taxes · amount: 693.25 · period: kind: cumulative · quote: A&B's fees encompass 139.6 hours at an average hourly rate of approximately $443.79 for a total of $61,953.00 prior to disbursements of $693.25 and applicable taxes. · approval: state: unstated · averages: rate: 443.79 · quote: an average hourly rate of approximately $443.79 · currency: · invoices: · firm text: A&B · firm quote: A&B's fees encompass 139.6 hours at an average hourly rate of approximately $443.79 for a total of $61,953.00 prior to disbursements of $693.25 and applicable taxes. · hours total: quote: A&B's fees encompass 139.6 hours · value: 139.6 · context quote: A&B's fees encompass 139.6 hours at an average hourly rate of approximately $443.79 for a total of $61,953.00 prior to disbursements of $693.25 and applicable taxes.
- operational summaryThe Companies' operations have ceased; substantially all assets of CEPS and SGM, including the Real Property, have been sold, secured creditors repaid, and the Receiver is winding down remaining administrative matters including tax filings, a CRA reassessment, and final distributions before seeking discharge.
- process resultslois: 1 · ndas: 7 · note: figures from pre-appointment Proper Sales Process described in reproduced First Report · solicited: 7
- professional feesnote: A&B's fees separately requested at $71,537.50 inclusive of tax and disbursements · party: Albert Gelman Inc. (Receiver) · amount: 151455.6 · period: November 9, 2022 to July 12, 2024 · currency: CAD
- purchaser3305 Deziel Inc.; Arlen Tool Co. Ltd
- report date17 July 2024
- report noSecond Report
- sale outcometext: Sale transactions completed and closed · scope: whole_business · status: closed