Quebec · Receivership (court-appointed)
Fourth Interim Report of the Receiver
Court officer report · 28 March 2024
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 filing7 verified
- cash on handnote: Amount held in trust by the Receiver per the interim statement of receipts and disbursements for the period ending February 29, 2024. · as at: 2024-02-29 · amount: 276636.24 · currency: CAD
- disbursementsnote: Total disbursements including receiver fees, legal fees and taxes; sub-total of disbursements before fees and taxes is 3,526,477.33. · since: March 30, 2022 (Receiver's appointment), through February 29, 2024 · amount: 4624151.34 · currency: CAD
- operational summaryThe Receiver is preserving and protecting the partially built Flora condo project (Tower A near final height, Tower B partly built, Tower C unbuilt). A new 3-year construction permit was obtained in December 2023, with construction intended to resume; liens are being settled and realization of assets is expected within 3 to 6 months.
- professional feesnote: Receiver fees shown before GST/QST (GST 23,396.89 and QST 46,676.68 are listed separately). Legal fees/disbursements of 240,662.36 are also reported (GST 12,007.83 and QST 23,955.59 separate). A further 'Professional Fees' line of 18,524.50 appears under miscellaneous disbursements. · party: Receiver (MNP Ltd.) · amount: 467312.41 · period: March 30, 2022 to February 29, 2024 · currency: CAD
- receipts cumulativenote: Includes advances from creditor 2,279,618.77 and from secured creditor (DIP) 1,584,646.29, plus tax refunds and other items. · since: March 30, 2022 (Receiver's appointment), through February 29, 2024 · amount: 4900787.58 · currency: CAD
- report date28 March 2024
- report noFourth Interim Report of the Receiver