Alberta · Receivership (court-appointed)
Receiver's Second Report dated April 25, 2022
Court officer report · 25 April 2022
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What we verified from this filing9 verified
- cash on handnote: Net Funds Available, cash in trust available for distribution to creditors · amount: 88488 · currency: CAD · qualifier: estimated to be approximately
- disbursementsnote: Non-BMO disbursements per Final R&D totals; BMO distributions of $3,870,512 reported separately · since: start of receivership proceedings · amount: 945098 · currency: CAD
- fee scheduleengagements: form: invoice_listing · rows: · money: tax: label: GST · quote: Total Receiver Fees to be Approved | ... | 4,113.30 · amount: 4113.3 · fees: quote: Total Receiver Fees to be Approved | 82,265.87 · amount: 82265.87 · total: quote: Total Receiver Fees to be Approved | 82,265.87 | 170.55 | 82,436.42 | 4,113.30 | 86,549.72 · amount: 86549.72 · includes tax: true · includes disbursements: true · approximate: false · disbursements: quote: Total Receiver Fees to be Approved | 82,265.87 | 170.55 · amount: 170.55 · period: kind: cumulative · label: since the Receiver's First Report and to completion · quote: SUMMARY OF PROFESSIONAL FEES SINCE THE RECEIVER'S FIRST REPORT AND TO COMPLETION · approval: quote: Total Receiver Fees to be Approved · state: sought · averages: · currency: · invoices: tax: 1133.08 · fees: 22661.53 · quote: to September 30, 2021 | LABS-3123 | 22,661.53 | - | 22,661.53 | 1,133.08 | 23,794.61 · total: 23794.61 · period end: 2021-09-30; tax: 1391.64 · fees: 27832.84 · quote: to October 31, 2021 | LABS-3167 | 27,832.84 | 170.55 | 28,003.39 | 1,391.64 | 29,395.03 · total: 29395.03 · period end: 2021-10-31 · disbursements: 170.55; tax: 139.31 · fees: 2786.28 · quote: to November 30, 2021 | LABS-3183 | 2,786.28 | - | 2,786.28 | 139.31 | 2,925.59 · total: 2925.59 · period end: 2021-11-30; tax: 68.19 · fees: 1363.72 · quote: to February 28, 2022 | LABS-3229 | 1,363.72 | - | 1,363.72 | 68.19 | 1,431.91 · total: 1431.91 · period end: 2022-02-28; tax: 131.08 · fees: 2621.5 · quote: to March 31, 2022 | LABS-3238 | 2,621.50 | - | 2,621.50 | 131.08 | 2,752.58 · total: 2752.58 · period end: 2022-03-31 · firm text: Grant Thornton Limited · firm quote: Grant Thornton Limited · context quote: granted an order (the " Receivership Order ") appointing Grant Thornton Limited (" GTL ") as receiver (the " Receiver "); form: invoice_listing · rows: · money: tax: label: GST · quote: Sub-total | 20,922.70 | 465.84 | 21,388.54 | 1,063.98 | 22,452.52 · amount: 1063.98 · fees: quote: Sub-total | 20,922.70 | 465.84 | 21,388.54 | 1,063.98 | 22,452.52 · amount: 20922.7 · total: quote: Sub-total | 20,922.70 | 465.84 | 21,388.54 | 1,063.98 | 22,452.52 · amount: 22452.52 · includes tax: true · includes disbursements: true · approximate: false · disbursements: quote: Sub-total | 20,922.70 | 465.84 | 21,388.54 | 1,063.98 | 22,452.52 · amount: 465.84 · period: kind: cumulative · label: since the Receiver's First Report and to completion · quote: SUMMARY OF PROFESSIONAL FEES SINCE THE RECEIVER'S FIRST REPORT AND TO COMPLETION · approval: quote: Total Legal Fees to be Approved · state: sought · averages: · currency: · invoices: tax: 239.28 · fees: 4785.55 · quote: to September 30, 2021 | 203463763 | 4,785.55 | - | 4,785.55 | 239.28 | 5,024.83 · total: 5024.83 · period end: 2021-09-30; tax: 824.7 · fees: 16137.15 · quote: to November 30, 2021 | 203465361 | 16,137.15 | 465.84 | 16,602.99 | 824.70 | 17,427.69 · total: 17427.69 · period end: 2021-11-30 · disbursements: 465.84 · context quote: Professional Fees - Receiver's legal counsel · firm unverified: true
- operational summaryThe receivership is substantially complete: the Companies' assets were sold in a turnkey transaction, the Companies were assigned into bankruptcy, and the Receiver seeks approval of a final distribution and its own discharge.
- professional feesnote: plus applicable taxes; BD&P fees for Sept 1 2021 to Nov 30 2021 were $21,389 plus applicable taxes; also estimated Final Fees of $25,000 (Receiver) and $10,000 (counsel) plus taxes to finalize administration · party: Receiver (Grant Thornton Limited) · amount: 57436 · period: September 1, 2021 to March 31, 2022 · currency: CAD
- receipts cumulativenote: Final R&D totals, over course of receivership proceedings · since: start of receivership proceedings · amount: 4815610 · currency: CAD
- recovery outcomeentries: basis: unstated · quote: a) an amount equal to the Canning Line Balance of approximately $17,914 to NRC; and · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · amount low: 17914 · amount high: 17914 · class label: NRC (Canning Line claim) · creditor name: NRC · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: b) the balance of the Net Funds Available, after payment of the professional fees and any other administrative costs, to BMO. · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · class label: BMO · creditor name: BMO · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: Amounts paid in respect of the Canning Line or Fork Lift prior to the Receiver's Appointment are unsecured claims and, at this time, the Receiver does not anticipate any proceeds being available for distribution to unsecured creditors of the Debtors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: receiver · class label: unsecured creditors of the Debtors · interim final: unstated · conditional on: at this time · claims qualifier: unstated · stated on: 2022-04-25 · table missing:
- report date25 April 2022
- report noSecond Report