Ontario · Receivership (court-appointed)
Motion Record Part 1 Returnable
Application / notice of application · 30 April 2019
A plain-language read of this filing opens with a subscription.
What we verified from this filing1 verified
- recovery outcomeentries: basis: actual · quote: In accordance with the Ancillary Order, the indebtedness owing to DUCA was paid in full by the Receiver on October 10, 2018. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: receiver · class label: DUCA · creditor name: DUCA · interim final: unstated · related party: false · claims qualifier: unstated; basis: estimated · quote: 10. The Receiver proposes to make a final or interim distribution to GCNA on account of its security. · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · class label: Guarantee Company of North America · creditor name: Guarantee Company of North America · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: o Mrs. Santaguida agrees that there be an interim distribution in the amount of $500,000 with respect to her Amended First Santaguida Mortgage Claim, leaving an estimated balance of $1.2 million in the receivership in order to ensure that there are enough funds available to fully pay all non-related party unsecured creditors of 220; · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · amount low: 500000 · amount high: 500000 · class label: Marylou Santaguida (First Santaguida Mortgage) · claims amount: 1592001 · creditor name: Marylou Santaguida · interim final: interim · related party: true · conditional on: Mrs. Santaguida agrees that there be an interim distribution of $500,000 with respect to her Amended First Santaguida Mortgage Claim, leaving an estimated balance of $1.2 million to ensure enough funds to fully pay all non-related party unsecured creditors · claims qualifier: asserted; basis: estimated · quote: 59. As outlined below, there do not appear to be more than 10 to 15 unsecured creditors (including Tarion) to whom, in total, the Receiver estimates are owed between $173,000 and $500,000, depending on the quantum of any unsecured claim advanced by Tarion. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: receiver · amount low: 173000 · amount high: 500000 · class label: unsecured creditors of 220 · interim final: unstated · related party: false · claims qualifier: estimated · table missing: