Saskatchewan · Bankruptcy
FireSong - Trustee's Fifth Report to Court
Court officer report · 30 June 2022
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing4 verified
- operational summaryThe FireSong Group's proposals remain stalled: first meetings of creditors were adjourned without a date, Management has not supplied adequate financial records, commingles assets, and relies on projected fractional cabin share sales with no evidence they are imminent. The Trustee cannot presently recommend acceptance of the Proposals.
- professional feesnote: Trustee fees $7,270.20 and Trustee's Counsel fees and disbursements $18,677.30, both inclusive of GST (the $25,947.50 total is the sum of the two stated figures, as the Trustee seeks to be paid it from the Pioneer Financing). Excludes preparation of the Fifth Report, the court application and the Trust Declaration review; further invoices to follow in a supplemental report. Also seeks increase of the Administrative Charge from $100,000 to $275,000. · party: Trustee (MNP Ltd.) and Trustee's Counsel (W Law LLP), Hoeller Mortgage opinion review only · amount: 25947.5 · currency: CAD
- report date30 June 2022
- report noFifth Report