Ontario · Receivership (court-appointed)
Second Report of MNP Ltd.
Court officer report · 2 December 2025
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What we verified from this filing11 verified
- cash on handnote: Includes net cash and short term investments maturing December 18, 2025, held in trust by the Receiver, before accrued interest; excludes $157,349.54 in cash held in Debtors' frozen accounts at TD Bank being transferred to the Receiver's trust account. · as at: 2025-11-30 · amount: 36123436.48 · currency: CAD
- fee scheduleengagements: form: prose · rows: · money: approximate: false · period: end: 2025-10-31 · kind: invoice · quote: The Receiver has prepared an account in connection with its appointment as receiver detailing its services rendered for the period from September 1, 2025 to October 31, 2025. · start: 2025-09-01 · approval: state: unstated · averages: rate: 699.45 · quote: The average hourly rate in respect of the net fees on the account is $699.45. · scope: net fees on the account · currency: · invoices: · firm text: MNP Ltd. · firm quote: SECOND REPORT OF MNP LTD., AS RECEIVER OF THE ASSETS, UNDERTAKINGS AND PROPERTIES OF THE RESPONDENTS · context quote: SECOND REPORT OF MNP LTD., AS RECEIVER OF THE ASSETS, UNDERTAKINGS AND PROPERTIES OF THE RESPONDENTS; form: prose · rows: · money: total: quote: an Account dated November 26, 2025, for the period from September 2, 2025 to October 30, 2025 in the amount of $166,258.22, inclusive of HST and disbursements · amount: 166258.22 · includes tax: true · includes disbursements: true · approximate: false · period: end: 2025-10-30 · kind: invoice · quote: an Account dated November 26, 2025, for the period from September 2, 2025 to October 30, 2025 in the amount of $166,258.22, inclusive of HST and disbursements · start: 2025-09-02 · approval: state: unstated · averages: rate: 580.28 · quote: The average hourly rate is $580.28. · currency: · invoices: · firm text: Aird & Berlis LLP · firm quote: The Receiver retained Aird & Berlis LLP (' A&B ') as its independent legal counsel for this proceeding. · context quote: The Receiver retained Aird & Berlis LLP (' A&B ') as its independent legal counsel for this proceeding.
- operational summaryThe receivership has completed the sale transactions for the Layer and Broiler businesses and Quota, made interim distributions to TD Bank and the principals, and is now addressing post-closing matters while retaining reserves to cover remaining obligations.
- process resultsnote: PP List of 181 potential purchasers developed; marketing results partially omitted from excerpt · solicited: 181
- professional feesnote: Exclusive of HST. A&B's (independent legal counsel) fees for September 2 to October 31, 2025 total $147,199.64, exclusive of HST. · party: Receiver (MNP Ltd.) · amount: 107890 · period: September 1, 2025 to October 31, 2025 · currency: CAD
- purchaserprice: note: price detailed in sealed Confidential Report · sealed: true · currency: CAD · scope: the Layer Assets · status: closed · name note: referred to only as the Layer Purchaser · structure: assets · name source: recital · relationship: unstated; price: note: price detailed in sealed Confidential Report · sealed: true · currency: CAD · scope: the Broiler Assets · status: closed · name note: referred to only as the Broiler Purchaser · structure: assets · name source: recital · relationship: unstated
- recovery outcomeentries: basis: unstated · quote: authorizing the Receiver to make a second interim distribution of up to $5 million to each of Anne Marie and Corey, respectively (the ' Second Interim Distributions '). · pct of: unstated · outcome: distribution · class key: equity · stated by: receiver · amount high: 5000000 · class label: Anne Marie Stickney · creditor name: Anne Marie Stickney · interim final: interim · claims qualifier: unstated; basis: unstated · quote: authorizing the Receiver to make a second interim distribution of up to $5 million to each of Anne Marie and Corey, respectively (the ' Second Interim Distributions '). · pct of: unstated · outcome: distribution · class key: equity · stated by: receiver · amount high: 5000000 · class label: Corey Stickney · creditor name: Corey Stickney · interim final: interim · claims qualifier: unstated; basis: unstated · quote: authorizing and directing the Receiver to make an interim distribution to TD Bank, up to the amount of its secured indebtedness; · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · class label: TD Bank · creditor name: The Toronto-Dominion Bank · interim final: interim · claims qualifier: unstated · stated on: 2025-12-02 · table missing:
- report date2 December 2025
- report noSecond Report
- sale advisorCorbo Kelos Group - Re/Max Hallmark Realty Ltd.
- sale outcometext: The Court approved the Layer and Broiler transactions and the Receiver has proceeded to close them following the Election Certificate and taking possession of the Property · scope: whole_business · status: closed