British Columbia · Receivership (court-appointed)
Notice of Application Orders sought: 1. approving the Receiver's first report dated May 31, 2018 (the "First Receiver's Report") and activities described therein; 2. approving an interim distribution from the Net Proceeds
Court officer report · 1 June 2018
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: estimated · quote: the Funds Available for Distribution will be sufficient to repay HSBC in its entirety, but Hanover will realize a significant shortfall in excess of $32 million. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: receiver · class label: HSBC Bank Canada · creditor name: HSBC Bank Canada · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: the Funds Available for Distribution will be sufficient to repay HSBC in its entirety, but Hanover will realize a significant shortfall in excess of $32 million. · pct of: unstated · outcome: shortfall · class key: secured · stated by: receiver · class label: Hanover Investments Corporation Ltd. · claims amount: 46591475.84 · creditor name: Hanover Investments Corporation Ltd. · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: the Receiver does not expect that there will be any distribution from the Western Concord estates for unsecured creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: receiver · class label: unsecured creditors · claims amount: 2431348.23 · interim final: unstated · claims qualifier: asserted · stated on: 2018-05-31 · table missing: