Ontario · Receivership (court-appointed)
First Report of Trustee with Appendices
Court officer report · 30 July 2025
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- applicantROYAL BANK OF CANADA
- courtONTARIO SUPERIOR COURT OF JUSTICE
- court file noCV-25-00000211-0000
- provinceONTARIO
- appointeeMNP Ltd.
- appointee rolereceiver and manager
- commencement date3 June 2025
- cash on handnote: Balance in the Receiver's trust/estate account. Separately, $17,672 of cash and cheques on hand were collected from the Companies when the Receiver took possession on June 6, 2025. · as at: 2025-07-24 · amount: 112110.4 · currency: CAD
- disbursementsnote: Primarily security, vehicle repairs, wages and possession clean up costs. · since: Receiver's appointment (June 3, 2025), to July 24, 2025 · amount: 57039.96 · currency: CAD
- fee scheduleengagements: form: time_summary · rows: Andre Ducasse; Matthew Cameron; Stephane Maclean; Ashley Cronk; fees: 4800 · rate: 355.56 · hours: 13.5 · quote: Total | | 13.50 | $4,800.00 | $355.56 · row kind: subtotal · rate kind: average · name as stated: Total · money: fees: quote: $4,800.00 · amount: 4800 · approximate: false · period: end: 2025-07-15 · kind: invoice · quote: for the period of June 3, 2025 ending July 15, 2025 · start: 2025-06-03 · approval: quote: I make this Affidavit in support of a motion by the Receiver for, inter olia, approval of the fees and disbursements of Receiver's counsel. · state: sought · averages: rate: 434.17 · quote: The average hourly rate is $434.17. · currency: · invoices: · firm text: Soloway Wright LLP · firm quote: for Soloway Wrfgfit LLP, Barristers and Sollcttofs · hours total: quote: 13.50 · value: 13.5 · context quote: Attached hereto as Exhibit "A" is a true copy of the invoice issued by SW for fees and disbursements incurred during the course of the within proceeding for the period of June 3, 2025 ending July 15, 2025. · comparability quote: The above rates charged by SW throughout the course of these proceedings are standard and comparable to the rates charged by SW for the provision of similar services.
- operational summaryThe dealership has no ongoing business; employees were terminated on June 6, 2025. The Receiver has secured the premises and vehicle inventory (71 sellable and 79 scrap vehicles) and proposes an auction liquidation through Impact Auto Auctions. It has not yet taken possession of the real property, where a Phase II environmental assessment has been recommended.
- process resultsnote: Receiver requested liquidation proposals from twelve liquidation companies and used car dealerships · solicited: 12
- professional feesnote: One invoice, inclusive of disbursements and before HST. Receiver's counsel Soloway Wright LLP submitted a separate invoice of $5,380.48 for the period ended July 15, 2025, inclusive of disbursements and before HST. The affidavit appendix for Soloway shows fees of $4,800.00 plus disbursements of $580.48. · party: MNP Ltd. (Receiver) · amount: 159515.94 · period: Appointment to July 15, 2025 · currency: CAD
- purchaserprice: note: Liquidation offers and terms are set out in the Confidential Supplement; unredacted version sealed. · sealed: true · scope: sale by auction of Eknors' vehicle inventory by Impact Auto Auctions · status: proposed · name note: end purchasers at auction, unnamed · structure: auction · name source: recital · relationship: unstated
- receipts cumulativenote: Total receipts per Statement of Receipts and Disbursements, including the $100,000 Receiver Certificate advance from the Bank, $17,671.76 cash on hand, $50,846.14 vehicle sales and $632.46 loan repayments. · since: Receiver's appointment (June 3, 2025), to July 24, 2025 · amount: 169150.36 · currency: CAD
- report date30 July 2025
- report noFirst Report
- sale advisorImpact Auto Auctions, Ltd. d/b/a IAA Canada
- sale outcometext: Receiver requested liquidation proposals and accepted an offer from IAA for sale by auction of the vehicle inventory, subject to Court approval · scope: liquidation · status: pending_approval