Ontario · Receivership (court-appointed)
Motion Record of the Applicant dated June 24, 2025
Application / notice of application · 24 June 2025
What we verified from this filing1 verified
- recovery outcomeentries: basis: actual · quote: following the closing of the Transaction, after the net proceeds of the Transaction of the sale of the Highview Property were paid to DCC, the shortfall under the DCC First Mortgage was approximately $1,240,336.39 (including over $320,000 in principal outstanding, and accrued interest to October 31, 2023, in the amount of $784,189.43), plus accrued interest after October 31, 2023, and additional legal costs following closing (the ' DCC First Mortgage Shortfall '); · pct of: unstated · outcome: shortfall · class key: secured · stated by: unstated · class label: DCC First Mortgage · creditor name: Dorr Capital Corporation · interim final: unstated · claims qualifier: unstated · shortfall amount: 1240336.39; basis: actual · quote: The shortfall for principal under the DCC First Mortgage after closing was approximately $322,000 (out of a total shortfall of $2,240,336.39). A year of additional interest on that $322,000 at 12.5% is approximately $40,250, bringing the DCC shortfall as of October 31, 2024 to $1,280,586.39, excluding DCC's legal costs since closing. · pct of: unstated · outcome: shortfall · class key: secured · stated by: unstated · class label: DCC First Mortgage · creditor name: Dorr Capital Corporation · interim final: unstated · claims qualifier: unstated · shortfall amount: 1280586.39 · table missing: