Ontario · Receivership (court-appointed)
Court Report – September 09, 2008
Court officer report · 9 September 2008
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What we verified from this filing5 verified
- operational summaryICL's inventory and fixed assets have all been sold via private sale and public auction, the Receiver has vacated the ICL premises, and remaining work involves collecting residual receivables, resolving the GMB lien claim, and winding down the receivership.
- professional feesnote: Counsel (Torkin Manes Cohen Arbus LLP) fees for the period from the date of the First Report to August 31, 2008 amount to CAD $19,695.39, reported separately. · party: Zeifman Partners Inc. (Receiver) · amount: 54418.23 · period: June 1, 2008 to August 31, 2008 · currency: CAD
- recovery outcomeentries: basis: estimated · quote: The realization of the assets has now been completed and the first Secured Creditor CIT Financial Ltd. will incur a significant shortfall in excess of $2million. · pct of: unstated · outcome: shortfall · class key: secured · stated by: receiver · class label: CIT Financial Ltd. (first secured creditor) · creditor name: CIT Financial Ltd. · interim final: unstated · claims qualifier: unstated · shortfall amount: 2000000 · stated on: 2008-09-09 · table missing:
- report date9 September 2008
- report noSecond Report