Ontario · Receivership (court-appointed)
Motion Record of the Receiver – Returnable 22 July 2022
Application / notice of application · 13 July 2022
A plain-language read of this filing opens with a subscription.
What we verified from this filing1 verified
- recovery outcomeentries: basis: estimated · quote: to the Municipality of Mississippi Mills in the approximate amount of $9,100.00, in satisfaction of outstanding property taxes levied against the Second Almonte Condo, subject to receipt by the Receiver of the applicable tax certificate verifying the indebtedness and closing of the sale of the Second Almonte Condo; · pct of: unstated · outcome: distribution · class key: landlord · stated by: receiver · amount low: 9100 · amount high: 9100 · class label: Municipality of Mississippi Mills · creditor name: Municipality of Mississippi Mills · interim final: interim · conditional on: subject to receipt by the Receiver of the applicable tax certificate verifying the indebtedness and closing of the sale of the Second Almonte Condo · claims qualifier: unstated; basis: estimated · quote: to LSCC in the approximate amount of $5,333.00 in satisfaction of outstanding condominium fees levied against the Second Almonte Condo, subject to receipt · pct of: unstated · outcome: distribution · class key: landlord · stated by: receiver · amount low: 5333 · amount high: 5333 · class label: LSCC (Lanark Standard Condominium Corporation No. 18) · creditor name: Lanark Standard Condominium Corporation No. 18 · interim final: interim · conditional on: subject to receipt by the Receiver of confirmation from LSCC of the amount outstanding and closing of the Second Almonte Condo · claims qualifier: unstated; basis: estimated · quote: to BMO in the approximate amount of $250,000.00 in respect of its mortgage registered against the Second Almonte Condo, subject to receipt of confirmation from the Bank of Montreal of the balance outstanding on its mortgage registered as against the Second Almonte Condo as at the date of closing and subject to the closing of the sale of the Second Almonte Condo; and · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · amount low: 250000 · amount high: 250000 · class label: Bank of Montreal (BMO) · creditor name: Bank of Montreal · interim final: interim · conditional on: subject to receipt of confirmation from the Bank of Montreal of the balance outstanding on its mortgage registered as against the Second Almonte Condo as at the date of closing and subject to the closing of the sale of the Second Almonte Condo · claims qualifier: unstated; basis: unstated · quote: The Receiver proposes to distribute a total of approximately $2,320,185.00 among the Priority Claimants and the Secured Creditors . · pct of: unstated · outcome: distribution · stated by: receiver · amount low: 2320185 · amount high: 2320185 · class label: Priority Claimants · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: The proposed interim distribution pays the claims of all known Priority Claimants in full, save and except for the Municipality of Smiths Falls, whose claim is against the Smiths Falls Property that is not yet sold, and LSCC, only for the portion of its claim relating to its lien and related indebtedness on the Second Almonte Condo that is also not yet sold. · pct of: unstated · outcome: paid_in_full · stated by: receiver · class label: known Priority Claimants (excluding Municipality of Smiths Falls and part of LSCC claim) · interim final: interim · conditional on: save and except for the Municipality of Smiths Falls, whose claim is against the Smiths Falls Property that is not yet sold, and LSCC, only for the portion of its claim relating to its lien and related indebtedness on the Second Almonte Condo that is also not yet sold · claims qualifier: unstated; basis: estimated · quote: $100,000.00 to BMO, as a partial payout in respect of the BMO Mortgage registered against the Almonte Condos, derived from the Receiver's anticipated net realizations of the First Almonte Condo, subject to the closing of the First Almonte Transaction. · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · amount low: 100000 · amount high: 100000 · class label: First Almonte Transaction distribution to BMO · creditor name: Bank of Montreal · interim final: interim · conditional on: derived from the Receiver's anticipated net realizations of the First Almonte Condo, subject to the closing of the First Almonte Transaction · claims qualifier: unstated · stated on: 2022-07-13 · table missing: