Ontario · Receivership (court-appointed)
March 17, 2025 Motion Record Returnable April 1, 2025
Application / notice of application · 17 March 2025
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: an Order (the ' Distribution Order ') authorizing and approving a distribution to Ms. Carol Beamish (' Beamish ') from the sales proceeds generated from the closing of the Bellevue Transaction with the Purchaser (the ' Sales Proceeds '), to repay amounts owing by the Respondent · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · class label: Beamish · creditor name: Carol Beamish · interim final: unstated · related party: false · claims qualifier: unstated; basis: estimated · quote: As a result, the Receiver will be in a position to distribute the remaining funds to Madeero (the ' Final Distribution '), subject to a Holdback, of approximately $50,000. · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · class label: Madeero · creditor name: Madeero Lending Management Inc. and Wellington Hathshire Mortgage Investment Corporation · interim final: final · related party: false · conditional on: subject to a Holdback of approximately $50,000 · claims qualifier: unstated; basis: estimated · quote: The Proposed Interim Distribution will be the remainder of the proceeds, less a holdback of $50,000 to be retained by the Receiver to cover any costs of administering the estate, from the Transaction after paying Commissions and Municipal Taxes. · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · class label: Madeero (Geoffrey Property proceeds) · claims amount: 1380000 · creditor name: Madeero · interim final: interim · related party: false · conditional on: less a holdback of $50,000 to be retained by the Receiver, from the Transaction after paying Commissions and Municipal Taxes · claims qualifier: estimated · stated on: 2025-03-17 · table missing: