Ontario · Proposal
Second Report of Proposal Trustee - BDO Canada Ltd. - September 24,2024
Court officer report · 24 September 2024
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What we verified from this filing8 verified
- fee scheduleengagements: form: prose · rows: · money: fees: quote: for a total of $69,015 prior to applicable taxes · amount: 69015 · approximate: true · period: end: 2024-09-20 · kind: cumulative · quote: The Proposal Trustee's fees for the period through to September 20, 2024 encompass 137.50 hours at an average hourly rate of approximately $501.93 for a total of $69,015 prior to applicable taxes. · approval: state: unstated · averages: rate: 501.93 · quote: an average hourly rate of approximately $501.93 · currency: · invoices: tax: 4812.67 · date: 2024-09-05 · fees: 37020.5 · quote: for the period commencing July 9, 2024 to August 16, 2024 inclusive per the attached detail · total: 41833.17 · period end: 2024-08-16 · period start: 2024-07-09; tax: 1489.35 · date: 2024-09-10 · fees: 11456.5 · quote: for the period commencing August 17, 2024 to August 31, 2024 inclusive per the attached detail · total: 12945.85 · period end: 2024-08-31 · period start: 2024-08-17; tax: 2669.94 · date: 2024-09-23 · fees: 20538 · quote: for the period commencing September 1, 2024 to September 20, 2024 inclusive per the attached detail · total: 23207.94 · period end: 2024-09-20 · period start: 2024-09-01 · firm text: BDO Canada Limited · firm quote: BDO CANADA LIMITED solely in its capacity as Trustee in the Proposal of TKC Metal Recycling Inc. and not in its personal capacity · hours total: quote: The Proposal Trustee's fees for the period through to September 20, 2024 encompass 137.50 hours · value: 137.5 · context quote: BDO Canada Limited consented to act as the Proposal Trustee (' BDO ' or the ' Proposal Trustee ').; form: time_summary · rows: C. Mazur; A. Consoli; G. Harper; D. Green; S. Rickards; C. Casco · money: tax: label: HST on BDO fees · quote: HST on BDO fees | | 4,812.67 · amount: 4812.67 · fees: quote: 37,020.50 $ · amount: 37020.5 · total: quote: Total | | 41,833.17 $ · amount: 41833.17 · includes tax: true · approximate: false · period: end: 2024-08-16 · kind: invoice · quote: for the period commencing July 9, 2024 to August 16, 2024 inclusive per the attached detail: · start: 2024-07-09 · approval: state: unstated · averages: · currency: · invoices: · firm text: BDO Canada Limited · firm quote: TO OUR FEE FOR PROFESSIONAL SERVICES rendered in connection with our Engagement as Trustee in the Proposal of TKC Metal Recycling Inc. for the period commencing July 9, 2024 to August 16, 2024 inclusive per the attached detail: · hours total: quote: 74.70 | | 37,020.50 $ · value: 74.7 · context quote: for the period commencing July 9, 2024 to August 16, 2024 inclusive per the attached detail:; form: time_summary · rows: C. Mazur; A. Consoli; G. Harper; S. Murphy · money: tax: label: HST on BDO fees · quote: HST on BDO fees | | 1,489.35 · amount: 1489.35 · fees: quote: 11,456.50 $ · amount: 11456.5 · total: quote: Total | | 12,945.85 $ · amount: 12945.85 · includes tax: true · approximate: false · period: end: 2024-08-31 · kind: invoice · quote: for the period commencing August 17, 2024 to August 31, 2024 inclusive per the attached detail: · start: 2024-08-17 · approval: state: unstated · averages: · currency: · invoices: · firm text: BDO Canada Limited · firm quote: TO OUR FEE FOR PROFESSIONAL SERVICES rendered in connection with our Engagement as Trustee in the Proposal of TKC Metal Recycling Inc. for the period commencing August 17, 2024 to August 31, 2024 inclusive per the attached detail: · hours total: quote: 22.20 | | 11,456.50 $ · value: 22.2 · context quote: for the period commencing August 17, 2024 to August 31, 2024 inclusive per the attached detail:; form: time_summary · rows: C. Mazur; A. Consoli; G. Harper; Daniel Pulsone; Carla Casco; S. Murphy · money: tax: label: HST on BDO fees · quote: HST on BDO fees | | 2,669.94 · amount: 2669.94 · fees: quote: 20,538.00 $ · amount: 20538 · total: quote: Total | | 23,207.94 $ · amount: 23207.94 · includes tax: true · approximate: false · period: end: 2024-09-20 · kind: invoice · quote: for the period commencing September 1, 2024 to September 20, 2024 inclusive per the attached detail: · start: 2024-09-01 · approval: state: unstated · averages: · currency: · invoices: · firm text: BDO Canada Limited · firm quote: TO OUR FEE FOR PROFESSIONAL SERVICES rendered in connection with our Engagement as Trustee in the Proposal of TKC Metal Recycling Inc. for the period commencing September 1, 2024 to September 20, 2024 inclusive per the attached detail: · hours total: quote: 40.60 | | 20,538.00 $ · value: 40.6 · context quote: for the period commencing September 1, 2024 to September 20, 2024 inclusive per the attached detail:; form: prose · rows: · money: fees: quote: for a total of $33,602.50 prior to disbursements and applicable taxes · amount: 33602.5 · approximate: true · period: end: 2024-09-20 · kind: cumulative · quote: Trustee's Counsel's fees for the period through to September 20, 2024 encompass 47.8 hours at an average hourly rate of approximately $702.98 for a total of $33,602.50 prior to disbursements and applicable taxes. · approval: state: unstated · averages: rate: 702.98 · quote: an average hourly rate of approximately $702.98 · currency: · invoices: · firm quote: Trustee's Counsel's fees for the period through to September 20, 2024 encompass 47.8 hours at an average hourly rate of approximately $702.98 for a total of $33,602.50 prior to disbursements and applicable taxes. · hours total: quote: Trustee's Counsel's fees for the period through to September 20, 2024 encompass 47.8 hours · value: 47.8 · context quote: Trustee's Counsel's fees for the period through to September 20, 2024 encompass 47.8 hours at an average hourly rate of approximately $702.98 for a total of $33,602.50 prior to disbursements and applicable taxes. · firm unverified: true; form: time_summary · rows: Weisz, S. J; Zhivko, A. S; Carson, S.; fees: 22495 · hours: 31 · quote: Totals: | | 31.00 | C$ | 22,495.00 · row kind: subtotal · rate kind: standard · name as stated: Totals: · money: fees: quote: Fees for Professional Services: | $ 22,495.00 | CAD · amount: 22495 · approximate: false · disbursements: quote: Total Disbursements: | C$ | 25.81 · amount: 25.81 · period: kind: invoice · quote: Invoice No. 2507354 · approval: state: unstated · averages: · currency: code: CAD · quote: Fees for Professional Services: | $ 22,495.00 | CAD · invoices: · firm text: Cozen O'Connor LLP · firm quote: Cozen O'Connor LLP · hours total: quote: Total Hours Billed: | 31.00 · value: 31 · context quote: BDO Canada Limited re TKC Metal Recycling Inc.; form: time_summary · rows: Weisz, S. J; Lallani, D.; Zhivko, A. S; fees: 11107.5 · hours: 16.8 · quote: Totals: | | 16.80 | C$ | 11,107.50 · row kind: subtotal · rate kind: standard · name as stated: Totals: · money: tax: label: HST 13.00% · quote: HST 13.00% | $ 1,443.98 CAD · amount: 1443.98 · total: quote: Total amount of Invoice No.: 2507355 | $ | 12,551.48 | CAD · amount: 12551.48 · includes tax: true · approximate: false · period: kind: invoice · quote: Invoice No. 2507355 · approval: state: unstated · averages: · currency: quote: Fees for Professional Services: | $ 11,107.50 CAD · invoices: · firm text: Cozen O'Connor LLP · firm quote: Cozen O'Connor LLP · hours total: quote: Total Hours Billed: | 16.80 · value: 16.8 · context quote: BDO Canada Limited re TKC Metal Recycling Inc.
- operational summaryTKC continues operating its scrap metal recycling business while completing a Court-approved sale process, having negotiated an Asset Purchase Agreement with Triple M Metal LP for substantially all of its assets, subject to court approval and closing.
- process resultsndas: 13 · note: 8 parties conducted site visits during the Sale Process period · solicited: 26
- professional feesnote: Fees of $69,015 before applicable taxes; Trustee's Counsel (Cozen O'Connor LLP) separately requested $38,000.00 inclusive of taxes and disbursements for the same period. · party: Proposal Trustee (BDO Canada Limited) · amount: 77986.95 · period: through to September 20, 2024 · currency: CAD
- purchaserTriple M Metal LP
- report date24 September 2024
- report noSecond Report
- sale outcometext: Company negotiated and finalized an Asset Purchase Agreement with Triple M Metal LP, subject to Court approval · scope: whole_business · status: pending_approval