Ontario · Receivership (court-appointed)
First Report to the Court dated
Court officer report · 22 August 2024
A plain-language read of this filing opens with a subscription.
What we verified from this filing8 verified · 1 withheld
- secured creditorsnote: Also restated in prose as 'CWB claims to be owed $1,947,830 plus interest and costs' without a stated date (page 12); Receiver is in process of obtaining independent legal opinion from Chaitons LLP on validity/enforceability of CWB's security (opinion pending). · page: 4 · as of: 2024-04-10 · amount: 1947830 · debtor: Medical Arts Dispensary of Ottawa (2003) Ltd. · creditor: CWB Maxium Financial Inc. · currency: CAD · security: Secured Creditor per CWB's Application Record
- secured creditorsnote: Receiver's counsel has not reviewed Meridian OneCap Credit Corp.'s security at this time; amount not stated. · page: 4 · debtor: Medical Arts Dispensary of Ottawa (2003) Ltd. · creditor: Meridian OneCap Credit Corp. · currency: CAD · security: Registered security interest against specific equipment used in the Business
- secured creditorsnote: Deemed trust class. Two components stated, not summed: (a) 2023 unremitted employee source deductions $28,344.11; (b) 2024 unremitted employee source deductions $14,503.49. Receiver filed outstanding HST returns resulting in a refund claim of $45,537.35, which CRA is applying against the unpaid source deductions claim; Receiver expects CRA will not ultimately hold a priority claim but is setting aside proceeds to cover potential priority claims by CRA. · page: 12 · as of: Date of Appointment (2024-04-19) · debtor: Medical Arts Dispensary of Ottawa (2003) Ltd. · creditor: Canada Revenue Agency · currency: CAD · security: Deemed trust - unremitted employee source deductions
- secured creditorsnote: Loan for working capital/wages, subject to interest at 3% over prevailing prime commercial lending rate; distinct capacity from CWB's underlying secured claim as pre-filing lender; charge ranks per priority scheme in Receivership Order. · page: 12 · as of: 2024-05-02 · amount: 52000 · debtor: Medical Arts Dispensary of Ottawa (2003) Ltd. · creditor: CWB Maxium Financial Inc. (Receiver's Borrowings) · currency: CAD · security: Receiver's Certificate / Receiver's Borrowings Charge (court-ordered charge under Receivership Order, maximum $125,000 at any time)
- secured creditorsnote: Rounded figure of $100,680 also stated in the secured creditor summary table (page 4); Receiver is in process of obtaining independent legal opinion from Chaitons LLP on validity/enforceability of McKesson's security (opinion pending). · page: 13 · amount: 100679.79 · debtor: Medical Arts Dispensary of Ottawa (2003) Ltd. · creditor: McKesson Canada · currency: CAD · security: Secured Creditor per information provided to Receiver by McKesson
- fee scheduleengagements: form: invoice_listing · rows: Harvey Chaiton; Robert Miller; Michael Pasternack; Maral Alacer · money: tax: label: HST · quote: Total Taxes (HST) · amount: 2909.3 · total: quote: TOTAL · amount: 25358.4 · includes tax: true · includes disbursements: true · approximate: false · disbursements: quote: Total Costs · amount: 146.6 · period: end: 2024-07-31 · kind: cumulative · quote: the accounts described above accurately reflect the services provided by Chaitons in this matter and the fees and disbursements claimed by it from April 22 to July 31, 2024. · start: 2024-04-22 · approval: quote: approving the fees and disbursements of the Receiver and its counsel, Chaitons LLP; · state: sought · averages: rate: 808 · quote: Average Hourly Rate · currency: · invoices: tax: 818.5 · fees: 6219.5 · quote: GRAND TOTAL $7,184.60 · total: 7184.6 · period end: 2024-06-30 · disbursements: 146.6; tax: 888.49 · date: 2024-06-30 · fees: 6834.5 · quote: GRAND TOTAL $7,722.99 · total: 7722.99 · period end: 2024-06-30; tax: 1202.31 · date: 2024-07-31 · fees: 9248.5 · quote: GRAND TOTAL 10,450.81 · total: 10450.81 · period end: 2024-07-31 · firm text: Chaitons LLP · firm quote: CHAITONS LLP · hours total: quote: Total Hours and Amounts Billed · value: 27.6 · context quote: I am a lawyer with the law firm of Chaitons LLP (' Chaitons '), lawyers for MNP Ltd., in its capacity as Court-appointed receiver of Medical Arts Dispensary of Ottawa (2003) Ltd.; form: time_summary · rows: Harvey G. Chaiton; Robert Miller; Maral Alacer · money: tax: label: HST · quote: HST at 13.00% 808.54 · amount: 818.5 · fees: quote: TOTAL PROFESSIONAL FEES $6,219.50 · amount: 6219.5 · total: quote: GRAND TOTAL $7,184.60 · amount: 7184.6 · includes tax: true · includes disbursements: true · approximate: false · disbursements: quote: TOTAL DISBURSEMENTS $146.60 · amount: 146.6 · period: end: 2024-06-30 · kind: invoice · quote: FOR PROFESSIONAL SERVICES | matter up to and including June 30, 2024: · approval: state: unstated · averages: · currency: · invoices: · firm unverified: true · context unverified: true; form: time_summary · rows: Harvey G. Chaiton; Michael Pasternack · money: tax: label: HST · quote: HST at 13.00% 888.49 · amount: 888.49 · fees: quote: TOTAL PROFESSIONAL FEES $6,834.50 · amount: 6834.5 · total: quote: GRAND TOTAL $7,722.99 · amount: 7722.99 · includes tax: true · includes disbursements: false · approximate: false · period: end: 2024-06-30 · kind: invoice · quote: PROFESSIONAL FEES · approval: state: unstated · averages: · currency: · invoices: · firm unverified: true · context unverified: true; form: time_summary · rows: Harvey G. Chaiton; Michael Pasternack · money: tax: label: HST · quote: HST at 13.00% 1,202.31 · amount: 1202.31 · fees: quote: TOTAL PROFESSIONAL FEES $9,248.50 · amount: 9248.5 · total: quote: GRAND TOTAL $10,450.81 · amount: 10450.81 · includes tax: true · includes disbursements: false · approximate: false · period: end: 2024-07-31 · kind: invoice · quote: FOR PROFESSIONAL SERVICES RENDERED on this matter up to and including July 31, 2024: · approval: state: unstated · averages: · currency: · invoices: · firm unverified: true · context unverified: true
- process resultsbids: 5 · ndas: 12 · as of: 2024-08-22 · solicited: 12
- sale outcometext: The Receiver entered into exclusive negotiations with the Purchaser leading to execution of the Purchase Agreement and recommends Court approval of the Transaction · scope: whole_business · status: pending_approval
1 extracted value is withheld: either a trap-shaped field where models produce confident wrong numbers, or an identity value whose quotation could not be found in the document. Withheld values are shown to no one.