Ontario · Receivership (court-appointed)
Motion Record of Richter Advisory Group Inc. (Re: Sale and Auction Approval and Vesting, Interim Distribution) (returnable October 6, 2016) – dated September 29, 2016
Application / notice of application · 29 September 2016
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 filing1 verified
- recovery outcomeentries: basis: unstated · quote: THIS COURT ORDERS that the Receiver be and is hereby authorized and directed to make interim distributions of the net proceeds of realization to the Applicant in the aggregate amount of C$7,100,000, in partial satisfaction of the indebtedness owing by the Debtor to the Applicant, as follows: · pct of: unstated · outcome: distribution · currency: CAD · class key: secured · stated by: receiver · amount low: 7100000 · cumulative: false · amount high: 7100000 · class label: the Applicant (Salus) · creditor name: Salus Capital Partners, LLC · interim final: interim · related party: false · currency quote: C$7,100,000 · claims qualifier: unstated; basis: liquidation_alternative · quote: Saius is expected to experience a significant shortfall on its security in a liquidation scenario. · pct of: unstated · outcome: shortfall · class key: secured · stated by: receiver · class label: Salus (the Lender) · creditor name: Salus · interim final: unstated · related party: false · claims qualifier: unstated · stated on: 2016-09-29 · table missing: