Ontario · Receivership (court-appointed)
Motion Record of the Receiver returnable April 27, 2022
Application / notice of application · 27 April 2022
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What we verified from this filing2 verified
- fee scheduleengagements: form: time_summary · rows: · money: fees: quote: fees of $16,547.50 · amount: 16547.5 · approximate: false · period: end: 2022-04-07 · kind: invoice · quote: professional fees of the Receiver incurred from January 14, 2022 to April 7, 2022 · start: 2022-01-14 · approval: state: unstated · averages: rate: 402.62 · quote: at an average hourly rate of $402.62 · currency: · invoices: · firm text: BDO Canada Limited · firm quote: BDO CANADA LIMITED , in its capacity as court-appointed receiver · context quote: BDO CANADA LIMITED , in its capacity as court-appointed receiver (the ' Receiver ') of the lands and premises known as 518 King St., Port Colborne, Ontario; form: time_summary · rows: · money: approximate: false · disbursements: quote: disbursements of $180.55 · amount: 180.55 · period: end: 2022-03-31 · kind: invoice · label: Billing Period · quote: the period from January 7, 2022, through March 31, 2022 (the ' Billing Period ') · start: 2022-01-07 · approval: state: unstated · averages: rate: 579.01 · quote: resulting in an average hourly rate of $579.01 (exclusive of applicable taxes) · currency: · invoices: · firm text: Loopstra Nixon LLP · firm quote: Statement of Account issued by Loopstra Nixon in respect of services rendered to the Receiver · hours total: quote: 19.20 hours were billed by Loopstra Nixon during the Billing Period · value: 19.2 · context quote: a true copy of the Statement of Account issued by Loopstra Nixon in respect of services rendered to the Receiver for the period from January 7, 2022, through March 31, 2022 (the ' Billing Period ').
- recovery outcomeentries: basis: actual · quote: Moreover, given the shortfall suffered by LCX, LCX appears to be the only party with an economic interest in potentially pursuing claims in respect of the transfer of funds out of the BOA Account and BB&T Account. · pct of: unstated · outcome: shortfall · class key: secured · stated by: receiver · class label: LCX · creditor name: LCX · interim final: unstated · claims qualifier: unstated; basis: actual · quote: After providing for the unpaid professional fees of the Receiver and its legal counsel to discharge, subject to Court approval, and causing Versitec Canada to make an assignment in bankruptcy (assuming the Receiver is so authorized), the Receiver will distribute remaining proceeds in its trust accounts to LCX as the June 22 nd Order authorized the Receiver to make such further distributions to LCX. · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · class label: LCX · creditor name: LCX · interim final: unstated · conditional on: After providing for the unpaid professional fees of the Receiver and its legal counsel to discharge, subject to Court approval, and causing Versitec Canada to make an assignment in bankruptcy · claims qualifier: unstated · table missing: