Alberta · Receivership (court-appointed)
5. Fifth Report of the Receiver
Court officer report · 18 August 2011
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 filing10 verified
- cash on handnote: Also holds $343,277 of Phase 2 deposits separately, and $500,000 outstanding in Receiver's Certificates. · as at: 2011-07-31 · amount: 1044198 · currency: CAD · qualifier: approximately
- closing confirmedscope: Suite 220 · outcome: not_completed · date basis: unstated; scope: Suite 403 · outcome: not_completed · date basis: unstated; scope: Suite 406 · outcome: not_completed · date basis: unstated
- disbursementssince: December 15, 2010 · amount: 1178343 · currency: CAD
- operational summaryThe Receiver is completing construction and sale of the remaining Phase 1 condominium inventory, managing property/condo corporation matters and various site issues (waterproofing, garbage disposal, deficiencies), while deferring a sale of the broader Riverside Quays Project pending resolution of the Matco application seeking to replace the general partner and discharge the Receiver.
- professional feesnote: Receiver's Counsel fees of $189,764 and Other Legal Fees of $39,342 also stated in the same period. · party: Receiver (Ernst & Young Inc.) · amount: 192818 · period: December 15, 2010 to July 31, 2011 · currency: CAD
- receipts cumulativesince: December 15, 2010 · amount: 2222541 · currency: CAD
- recovery outcomeentries: basis: unstated · quote: 59. The validity of the liens has not been determined given the current cash shortfall to the secured claims. · pct of: unstated · outcome: shortfall · class key: landlord · stated by: receiver · class label: Unfunded Liens · interim final: unstated · claims qualifier: unstated · stated on: 2011-08-18 · table missing:
- report date18 August 2011
- report noFifth Report
- sale outcometext: Receiver completed sale of four residential suites in Phase 1 and is in process of closing two additional approved sales · scope: liquidation · status: liquidation_in_progress