Saskatchewan · Receivership (court-appointed)
Second Report of the Receiver
Court officer report · 4 January 2018
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What we verified from this filing11 verified
- cash on handnote: Funds held in trust by the Receiver as at period end. · as at: 2017-12-31 · amount: 65000 · currency: CAD · qualifier: approximately
- closing confirmedscope: the McDougall artwork auction · outcome: completed · effective: 2017-07-31 · date basis: stated; scope: the Maynards artwork auction · outcome: completed · effective: 2017-10-18 · date basis: stated; scope: one (1) en-bloc offer for all of the Properties · outcome: not_completed · date basis: unstated
- disbursementsnote: Total Disbursements from the Statement of Actual Receipts and Disbursements for the period March 29, 2017 to December 31, 2017. · since: March 29, 2017 · amount: 405963 · currency: CAD
- operational summaryThe Receiver has been marketing and selling JMV's eight properties (now under an accepted en-bloc offer pending court approval) and has completed auction sales of the company's artworks, while managing rentals, receivables, and a life insurance claim, with proceeds applied against the CIBC indebtedness.
- professional feesnote: Legal fees of $28,741 also incurred separately during the period, per the statement of receipts and disbursements. · party: Receiver (Deloitte Restructuring Inc.) · amount: 127591 · period: March 29, 2017 to December 31, 2017 · currency: CAD
- purchaserprice: note: Terms of the Second En-Bloc Offer, including price, are described in the sealed Second Confidential Report. · sealed: true · scope: the Properties described in, and to be sold and transferred under, the purchase and sale agreement dated November 28, 2017 · status: proposed · name note: purchaser of the Properties (en-bloc) under the Second En-Bloc Offer, unnamed · structure: real_property · name source: recital · relationship: unstated · agreement date: 2017-11-28; price: sealed: false · scope: one (1) en-bloc offer for all of the Properties · status: not_completed · name note: purchaser under the Initial En-Bloc Offer, unnamed · structure: real_property · name source: recital · relationship: unstated
- receipts cumulativenote: Total Receipts from the Statement of Actual Receipts and Disbursements for the period March 29, 2017 to December 31, 2017. · since: March 29, 2017 · amount: 471247 · currency: CAD
- report date4 January 2018
- report noSecond Report
- sale advisorColliers International; Maynards Antique and Fine Art Ltd.; McDougall Auctioneers Ltd.
- sale outcometext: Recommendation to approve sale and transfer of Properties under Second En-Bloc Offer · scope: whole_business · status: pending_approval