Ontario · Receivership (court-appointed)
Fourth Report of the Receiver dated February 4, 2025
Court officer report · 4 February 2025
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What we verified from this filing2 verified
- fee scheduleengagements: form: prose · rows: · money: tax: label: HST · quote: plus HST of $7,209.36 · amount: 7209.36 · fees: quote: $55,456.50 in fees · amount: 55456.5 · total: quote: for a total amount of $62,665.85 · amount: 62665.85 · includes tax: true · approximate: false · period: end: 2024-08-31 · kind: invoice · quote: for the period from June 16, 2024 to August 31, 2024 · start: 2024-06-16 · approval: state: unstated · averages: · currency: · invoices: · firm text: TDB Restructuring Limited · firm quote: the TDB Restructuring Limited in place of RCL as Receiver · context quote: THIS COURT ORDERS that the fees and disbursements of the Receiver for the period from June 16, 2024 to August 31, 2024 in the amount of $55,456.50 in fees, plus HST of $7,209.36, for a total amount of $62,665.85, as further set out in the Third Report and the affidavit attached as Appendix 'I' to th; form: prose · rows: · money: tax: label: HST · quote: HST of $2,281.89 · amount: 2281.89 · fees: quote: fees of $17,553.00 · amount: 17553 · total: quote: the total amount being claimed for the work performed by RECON during the Billing Period is $21,065.04 (fees of $17,553.00; disbursements of $1,230.15; and HST of $2,281.89) · amount: 21065.04 · includes tax: true · includes disbursements: true · approximate: false · disbursements: quote: disbursements of $1,230.15 · amount: 1230.15 · period: end: 2025-01-31 · kind: invoice · label: Billing Period · quote: for the period from September 11, 2024 to January 31, 2025 (the ' Billing Period ') · start: 2024-09-11 · approval: state: unstated · averages: rate: 484.94 · quote: at an average hourly rate of $484.94 (exclusive of HST) · currency: · invoices: · firm text: RECON · firm quote: detailing its fees and disbursements incurred for the period from September 11, 2024 to January 31, 2025 (the ' Billing Period ') · hours total: quote: RECON incurred a total of 49.6 hours, at an average hourly rate of $484.94 (exclusive of HST). · value: 49.6 · context quote: has prepared statements of account (the ' Accounts ') in connection with its mandate as counsel to the Receiver, detailing its fees and disbursements incurred for the period from September 11, 2024 to January 31, 2025 (the ' Billing Period ').
- recovery outcomeentries: basis: estimated · quote: Therefore, it is not anticipated that the Applicants will be paid in full, nor any creditors ranking below the Applicants will receive any repayments. · pct of: unstated · outcome: shortfall · class key: secured · stated by: receiver · class label: Applicants (secured mortgagees) · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: Therefore, it is not anticipated that the Applicants will be paid in full, nor any creditors ranking below the Applicants will receive any repayments. · pct of: unstated · outcome: nil · stated by: receiver · class label: creditors ranking below the Applicants · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: third , $90,643 to 111' Ltd pursuant to the Proposed Allocation, in partial payment of the mortgage owing to 111' Ltd . · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · amount low: 90643 · amount high: 90643 · class label: 111' Ltd. · creditor name: 111' Ltd. · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: fourth, $49,919 to the Stanart Group pursuant to the Proposed Allocation, in partial payment of Receiver's Borrowings owing to the Stanart Group; and · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · amount low: 49919 · amount high: 49919 · class label: The Stanart Group · creditor name: The Stanart Group · interim final: unstated · claims qualifier: unstated · stated on: 2025-02-04 · table missing: