Ontario · Receivership (court-appointed)
First Progress Report of the Joint Administrators - 1/21/2016
Court officer report · 7 December 2015
What we verified from this filing2 verified
- fee scheduleengagements: form: time_summary · rows: fees: 630.5 · rate: 485 · role: Fund management · hours: 1.3 · quote: Fund management | | 1.30 | | | 1.30 | 630.50 | 485.00 · row kind: bucket · rate kind: average · name as stated: Fund management; fees: 32019 · rate: 279.15 · role: General (Cashiering) · hours: 114.7 · quote: General (Cashiering) | | 1.10 | 113.60 | | 114.70 | 32,019.00 | 279.15 · row kind: bucket · rate kind: average · name as stated: General (Cashiering); fees: 5166.5 · rate: 285.44 · role: Reconciliations (& IPS accounting reviews) · hours: 18.1 · quote: Reconciliations (& IPS accounting reviews) | | 3.70 | 14.40 | | 18.10 | 5,166.50 | 285.44 · row kind: bucket · rate kind: average · name as stated: Reconciliations (& IPS accounting reviews); fees: 14872 · rate: 314.42 · role: Books and records · hours: 47.3 · quote: Books and records | | 18.40 | 28.90 | | 47.30 | 14,872.00 | 314.42 · row kind: bucket · rate kind: average · name as stated: Books and records; fees: 1370.5 · rate: 489.46 · role: Fees and WIP · hours: 2.8 · quote: Fees and WIP | 2.30 | | 0.50 | | 2.80 | 1,370.50 | 489.46 · row kind: bucket · rate kind: average · name as stated: Fees and WIP; fees: 57300.5 · rate: 350.89 · role: Appointment and related formalities · hours: 163.3 · quote: Appointment and related formalities | 44.30 | 36.90 | 50.80 | 31.30 | 163.30 | 57,300.50 | 350.89 · row kind: bucket · rate kind: average · name as stated: Appointment and related formalities; fees: 6487.25 · rate: 378.27 · role: Checklist & reviews · hours: 17.15 · quote: Checklist & reviews | 2.70 | 4.45 | 9.50 | 0.50 | 17.15 | 6,487.25 | 378.27 · row kind: bucket · rate kind: average · name as stated: Checklist & reviews; fees: 205 · rate: 205 · role: Pre-administration checks · hours: 1 · quote: Pre-administration checks | | | 1.00 | | 1.00 | 205.00 | 205.00 · row kind: bucket · rate kind: average · name as stated: Pre-administration checks; fees: 336 · rate: 280 · role: Statutory advertising · hours: 1.2 · quote: Statutory advertising | | | 1.20 | | 1.20 | 336.00 | 280.00 · row kind: bucket · rate kind: average · name as stated: Statutory advertising; fees: 1960 · rate: 280 · role: Statutory receipts and payments accounts · hours: 7 · quote: Statutory receipts and payments accounts | | | 7.00 | | 7.00 | 1,960.00 | 280.00 · row kind: bucket · rate kind: average · name as stated: Statutory receipts and payments accounts; fees: 59717 · rate: 522.92 · role: Strategy documents · hours: 114.2 · quote: Strategy documents | 64.10 | 47.10 | 3.00 | | 114.20 | 59,717.00 | 522.92 · row kind: bucket · rate kind: average · name as stated: Strategy documents; fees: 5611 · rate: 300.05 · role: Initial reviews - CT and VAT · hours: 18.7 · quote: Initial reviews - CT and VAT | | 3.00 | 15.70 | | 18.70 | 5,611.00 | 300.05 · row kind: bucket · rate kind: average · name as stated: Initial reviews - CT and VAT; fees: 3480 · rate: 316.36 · role: Post appointment corporation tax · hours: 11 · quote: Post appointment corporation tax | | 5.00 | 6.00 | | 11.00 | 3,480.00 | 316.36 · row kind: bucket · rate kind: average · name as stated: Post appointment corporation tax; fees: 6428.25 · rate: 354.17 · role: Post appointment overseas tax · hours: 18.15 · quote: Post appointment overseas tax | | 7.35 | 10.80 | | 18.15 | 6,428.25 | 354.17 · row kind: bucket · rate kind: average · name as stated: Post appointment overseas tax; fees: 108911.5 · rate: 370.07 · role: Post appointment VAT · hours: 294.3 · quote: Post appointment VAT | 5.30 | 197.10 | 87.90 | 4.00 | 294.30 | 108,911.50 | 370.07 · row kind: bucket · rate kind: average · name as stated: Post appointment VAT; fees: 123 · rate: 205 · role: Formation · hours: 0.6 · quote: Formation | | | 0.60 | | 0.60 | 123.00 | 205.00 · row kind: bucket · rate kind: average · name as stated: Formation; fees: 5358 · rate: 546.73 · role: Meetings · hours: 9.8 · quote: Meetings | 5.50 | 4.30 | | | 9.80 | 5,358.00 | 546.73 · row kind: bucket · rate kind: average · name as stated: Meetings; fees: 82 · rate: 205 · role: Agreement of claims · hours: 0.4 · quote: Agreement of claims | | | 0.40 | | 0.40 | 82.00 | 205.00 · row kind: bucket · rate kind: average · name as stated: Agreement of claims; fees: 8681.5 · rate: 485 · role: Agreement of preferential claims · hours: 17.9 · quote: Agreement of preferential claims | | 17.90 | | | 17.90 | 8,681.50 | 485.00 · row kind: bucket · rate kind: average · name as stated: Agreement of preferential claims; fees: 14715.5 · rate: 245.67 · role: Agreement of unsecured claims · hours: 59.9 · quote: Agreement of unsecured claims | | 8.70 | 51.20 | | 59.90 | 14,715.50 | 245.67 · row kind: bucket · rate kind: average · name as stated: Agreement of unsecured claims; fees: 91699.75 · rate: 303.29 · role: General correspondence · hours: 302.35 · quote: General correspondence | 30.20 | 43.25 | 214.10 | 14.80 | 302.35 | 91,699.75 | 303.29 · row kind: bucket · rate kind: average · name as stated: General correspondence · money: approximate: false · period: end: 2015-10-26 · kind: interim · label: SIP 9 - Time costs analysis (27/04/2015 to 26/10/2015) · quote: SIP 9 - Time costs analysis (27/04/2015 to 26/10/2015) · start: 2015-04-27 · approval: state: unstated · averages: · currency: code: GBP · quote: Time Cost (£) · invoices: · firm text: KPMG · firm quote: the expenses paid directly by KPMG for the period from our appointment to 26 October 2015 · context quote: We have attached (Appendix 3) an analysis of the time spent, the charge-out rates for each grade of staff and the expenses paid directly by KPMG for the period from our appointment to 26 October 2015.
- recovery outcomeentries: basis: estimated · quote: It is highly unlikely that realisations from the sale of the two areas of land will exceed the £13.5 million the Pension Scheme is entitled to, therefore there will be no surplus funds available to TRP's other creditors. · pct of: unstated · outcome: nil · stated by: unstated · class label: TRP's other creditors · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: LBCF had no outstanding debt at the date of our appointment. · pct of: unstated · outcome: nil · class key: secured · stated by: unstated · class label: LBCF · creditor name: LBCF · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: TRP granted a floating charge over certain of its assets to BoS. BoS had no outstanding debt due by TRP, hence its floating charge has not crystallised and no amounts are due to BoS. · pct of: unstated · outcome: nil · class key: secured · stated by: unstated · class label: BoS · creditor name: BoS · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: Based on current estimates, we anticipate that preferential creditors will be paid in full. · pct of: unstated · outcome: paid_in_full · class key: preferred · stated by: unstated · class label: Preferential creditors · claims amount: 800000 · interim final: unstated · claims qualifier: estimated; basis: estimated · quote: Based on current estimates, we anticipate that unsecured creditors will receive a dividend. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: unstated · class label: Unsecured creditors · interim final: unstated · conditional on: quantum and timing dependent upon final level of agreed creditors' claims and final asset realisations · claims qualifier: unstated · stated on: 2015-12-07 · table missing: