British Columbia · Receivership (court-appointed)
15) First Report of the Receiver and Manager dated April 16, 2020
Court officer report · 16 April 2020
A plain-language read of this filing opens with a subscription.
What we verified from this filing1 verified
- recovery outcomeentries: basis: estimated · quote: Total secured and unsecured creditor claims are $21,286,870 before interest and legal costs, resulting in an overall shortfall of potentially and significantly more than $6,661,385. · pct of: unstated · outcome: shortfall · class key: secured · stated by: receiver · class label: subsequent mortgage holders · claims amount: 21286870 · interim final: unstated · conditional on: Scenario 3 realization; qualified by Fifth Avenue's April 14, 2020 letter · claims qualifier: estimated · shortfall amount: 6661385; basis: estimated · quote: This would be enough to pay off the first mortgages with Peoples and a distribution to Bancorp. · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · class label: Bancorp · creditor name: Bancorp · interim final: unstated · conditional on: Scenario 4 realization · claims qualifier: unstated; basis: estimated · quote: Total secured and unsecured creditor claims are $21,286,870 before interest and legal costs, resulting in an overall shortfall of $5,735,207. · pct of: unstated · outcome: shortfall · class key: unsecured · stated by: receiver · class label: secured and unsecured creditors (overall) · claims amount: 21286870 · interim final: unstated · conditional on: Scenario 4 realization · claims qualifier: estimated · shortfall amount: 5735207; basis: estimated · quote: This would be enough to pay off the first mortgage with Peoples and a distribution to Bancorp. · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · class label: Bancorp · creditor name: Bancorp · interim final: unstated · conditional on: Scenario 5 realization · claims qualifier: unstated; basis: estimated · quote: Total secured and unsecured creditor claims are $21,286,870 before interest and legal costs, resulting in an overall shortfall of $5,484,398. · pct of: unstated · outcome: shortfall · class key: unsecured · stated by: receiver · class label: secured and unsecured creditors (overall) · claims amount: 21286870 · interim final: unstated · conditional on: Scenario 5 realization · claims qualifier: estimated · shortfall amount: 5484398 · stated on: 2020-04-16 · table missing: