Ontario · Receivership (court-appointed)
First and Final Report of the Receiver
Court officer report · 29 March 2023
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What we verified from this filing2 verified
- secured creditorsnote: Amount stated in Purchase Agreement recital as indebtedness as of July 23, 2021, in respect of principal, interest and fees; a related, less precise figure of $16,949,265.47 as of the July 29, 2021 Application Record is also referenced in the First Report (para 22) as the amount then owed. Indebtedness subsequently assigned by the Lenders to the Purchaser (1000479776 Ontario Limited Partnership) pursuant to a Subscription and Assignment of Debt and Security Agreement dated March 27, 2023, in exchange for limited partnership interests, then credit bid to acquire the Purchased Assets. · page: 20 · as of: 2021-07-23 · amount: 16949265.47 · debtor: Mohawk Trail Properties Inc. (borrower), 2317159 Ontario Inc. and Mohawk Inn & Suites Management Inc. (guarantors) · creditor: Cortland Credit Lending Corporation, as Agent for Cortland Credit Strategies L.P. and Cortland Credit Institutional L.P. (the Lenders) · currency: CAD · security: Security under Mortgage Loan Facility Agreement dated June 28, 2018, as amended, over Milton Property and all present and after-acquired personal property of the Debtors (validity/enforceability confirmed by independent legal opinion of Blakes, with certain limited exceptions and priority amounts owing for property taxes)
- fee scheduleengagements: form: prose · rows: · money: approximate: false · period: kind: unstated · label: the Period · quote: The average hourly rate billed by the Receiver during the Period is $496.68. · approval: state: unstated · averages: rate: 496.68 · quote: The average hourly rate billed by the Receiver during the Period is $496.68. · currency: · invoices: · firm text: PricewaterhouseCoopers Inc. · firm quote: SUBMITTED BY PRICEWATERHOUSECOOPERS INC., LIT IN ITS CAPACITY AS RECEIVER OF MOHAWK TRAIL PROPERTIES INC., 2317159 ONTARIO INC., AND MOHAWK INN & SUITES MANAGEMENT INC. · context quote: IN ITS CAPACITY AS RECEIVER OF MOHAWK TRAIL PROPERTIES INC., 2317159 ONTARIO INC., AND MOHAWK INN & SUITES MANAGEMENT INC.; form: prose · rows: · money: approximate: false · period: kind: unstated · quote: Dentons fees and disbursements for the period from March 1, 2023 to completion of all work related to this matter will be calculated and billed at the standard rates currently in · start: 2023-03-01 · approval: state: unstated · averages: · currency: · invoices: · firm text: Dentons · firm quote: Dentons fees and disbursements for the period from March 1, 2023 to completion of all work related to this matter will be calculated and billed at the standard rates currently in · context quote: Dentons fees and disbursements for the period from March 1, 2023 to completion of all work related to this matter will be calculated and billed at the standard rates currently in; form: invoice_listing · rows: · money: tax: label: HST · quote: $1,544.83 for HST · amount: 1544.83 · fees: quote: including $11,878.50 for fees · amount: 11878.5 · total: quote: The total amount being claimed for the work performed by Blakes for the Period is $13,428.08, including $11,878.50 for fees, $4.75 for disbursements, and $1,544.83 for HST. · amount: 13428.08 · includes tax: true · includes disbursements: true · approximate: false · disbursements: quote: $4.75 for disbursements · amount: 4.75 · period: end: 2023-03-16 · kind: invoice · label: Period · quote: Blakes' fees and disbursements for the period ended March 16, 2023 (the "Period-) are summarized in the invoice rendered to the Receiver (the "Invoice"). · approval: state: unstated · averages: rate: 707.05 · quote: Slakes expended a total of 16.8 hours during the Period at an average hourly rate is $707.05. · currency: · invoices: · firm text: Blakes · firm quote: Blakes' fees and disbursements for the period ended March 16, 2023 (the "Period-) are summarized in the invoice rendered to the Receiver (the "Invoice"). · hours total: quote: Slakes expended a total of 16.8 hours during the Period at an average hourly rate is $707.05. · value: 16.8 · context quote: Blakes' fees and disbursements for the period ended March 16, 2023 (the "Period-) are summarized in the invoice rendered to the Receiver (the "Invoice").