Ontario · Receivership (court-appointed)
2552741 Ontario - Trustees Report to Creditors on Preliminary Administration dated September 13, 2024
Court officer report · 13 September 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
- closing confirmedscope: the Purchased Assets (as defined and set out in the APS) · outcome: completed · effective: 2024-08-23 · purchaser: Dunsire Homes Inc. · date basis: stated · approval order date: 2024-08-16
- operational summaryAs a result of the sale transaction, substantially all of the Debtors' assets were sold and the Debtors no longer carry on any business or hold assets of significant value; the trustee does not expect any funds will be available for distribution to creditors in the bankruptcy.
- purchaserDunsire Homes Inc.
- recovery outcomeentries: basis: actual · quote: Pursuant to the Distribution Order, KingSett's mortgages were repaid in full from the Purchase Proceeds. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: trustee · class label: KingSett · creditor name: KingSett Mortgage Corporation · interim final: unstated · claims qualifier: unstated · stated on: 2024-09-13 · table missing:
- report date13 September 2024
- sale outcometext: Substantially all of the Debtors' Property was sold through the Transaction. · scope: whole_business · status: closed
- stalking horseDunsire Homes Inc.