Ontario · Receivership (court-appointed)
Motion Record of the Receiver (for motion returnable November 23, 2022) (1 of 2)
Application / notice of application · 23 November 2022
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What we verified from this filing2 verified
- fee scheduleengagements: form: prose · rows: · money: fees: quote: for a total of $146,017.50 and applicable taxes · amount: 146017.5 · approximate: false · period: kind: unstated · approval: quote: which fees and expenses require the approval of this Court pursuant to the Receivership Order · state: sought · averages: rate: 389.28 · quote: an average hourly rate of approximately $389.28 · currency: · invoices: · hours total: quote: The Receiver's fees encompass 375.1 hours at an average hourly rate of approximately $389.28 · value: 375.1 · context quote: the Receiver and A&B have accrued fees and expenses in their capacity as the Receiver and legal counsel thereto, respectively, which fees and expenses require the approval of this Court pursuant to the Receivership Order · firm unverified: true; form: prose · rows: · money: fees: quote: for a total of $61,953.00 prior to disbursements of $693.25 and applicable taxes · amount: 61953 · approximate: false · disbursements: quote: prior to disbursements of $693.25 and applicable taxes · amount: 693.25 · period: kind: unstated · approval: quote: which fees and expenses require the approval of this Court pursuant to the Receivership Order · state: sought · averages: rate: 443.79 · quote: an average hourly rate of approximately $443.79 · currency: · invoices: · firm text: Aird & Berlis LLP · firm quote: AIRD & BERLIS LLP · hours total: quote: A&B's fees encompass 139.6 hours at an average hourly rate of approximately $443.79 · value: 139.6 · context quote: A&B have accrued fees and expenses in their capacity as the Receiver and legal counsel thereto, respectively
- recovery outcomeentries: basis: estimated · quote: BDC in an amount up to $1,327,104.61 on account of the CEPS BDC Debt and $1,747,570.75 on account of the SGM BDC Debt and $48,151.97 on account of legal fees, plus accruing interest, and which amounts may be adjusted at the Receiver's discretion on receiving updated loan amounts from BDC; · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · class label: BDC · creditor name: Business Development Bank of Canada · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: TD Bank in an amount up to $3,841,406.42 and US$248,056.72 respectively, plus accruing interest, and which amounts may be adjusted at the Receiver's discretion on receiving updated loan amounts from TD Bank; and · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · class label: TD Bank · creditor name: Toronto-Dominion Bank · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: CWB in the amount of US$182,994.82 plus accruing interest, and which amount may be adjusted at the Receiver's discretion on receiving updated loan amounts from CWB. · pct of: unstated · outcome: distribution · currency: USD · class key: secured · stated by: receiver · class label: CWB · creditor name: CWB National Leasing Inc. · interim final: unstated · currency quote: US$182,994.82 · claims qualifier: unstated; basis: estimated · quote: The sale proceeds generated from the Transaction will likely result in a full payout of the secured claims of BDC, since its security ranks in priority to TD Bank over the Real Property. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: receiver · class label: BDC · creditor name: Business Development Bank of Canada · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: It is not possible at this time to determine if TD Bank is likely to be paid in full, largely due to the uncertainty as to the final operating costs and other matters to be determined following closing of the Transaction. · pct of: unstated · outcome: undetermined · class key: secured · stated by: receiver · class label: TD Bank · creditor name: Toronto-Dominion Bank · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: SGM: HST deemed trust in the sum of $54,558.57 as of November 3, 2022. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: receiver · amount low: 54558.57 · amount high: 54558.57 · class label: SGM: HST deemed trust · creditor name: CRA · interim final: unstated · claims qualifier: unstated · stated on: 2022-11-14 · table missing: