Quebec · Receivership (court-appointed)
Fifth Report of the Receiver
Court officer report · 31 August 2024
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 filing7 verified
- cash on handnote: Amount held in trust by the Receiver (stated as 1,27 M$ in the text; 1,273,898 $ per the statement of receipts and disbursements). · as at: 2024-08-31 · amount: 1273898 · currency: CAD
- disbursementsnote: Total disbursements from 9 May 2019 to 31 Aug 2024; of this, 1,253,176 was disbursed in the period 1 Feb 2021 to 31 Aug 2024 (text: 1,25 M$). Distributions to secured creditors (HSBC) are shown separately: 5,996,889 cumulative, of which 2,200,000 in the latest period. · since: 2019-05-09 · amount: 3637854 · currency: CAD
- operational summaryThe Receiver continues to pursue the collection of disputed accounts receivable from the debtor's customers (over $3.1M outstanding) and expects this to take more than six months; recent activity has also involved settlements, dealings with creditor representatives, and administration of the trust account.
- professional feesnote: Receiver's fees paid in the period (cumulative since 2019-05-09: 762,490). Fees paid to legal counsel in the period: 630,722 (cumulative 1,082,598); to consultants: 382,913 (cumulative 929,564). Non-recoverable GST of 122,926 in the period is shown separately. Fees are described as paid 'ainsi qu'aux taxes s'y rapportant'. · party: Séquestre (Restructuration Deloitte inc.) · amount: 119462 · period: 2021-02-01 to 2024-08-31 · currency: CAD
- receipts cumulativenote: Total receipts from 9 May 2019 to 31 Aug 2024; of this, 3,386,388 was received in the period 1 Feb 2021 to 31 Aug 2024 (text: 3,39 M$). · since: 2019-05-09 · amount: 10908641 · currency: CAD
- report date24 September 2024
- report noCinquième rapport provisoire du Séquestre