Alberta · Receivership (court-appointed)
Sale Approval and Vesting Order re Avtar Toor - Developer Lot (May 16, 2018)
Approval and vesting order · 16 May 2018
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing5 verified
- closing termsVesting is effective upon delivery of the Receiver's Certificate confirming payment of the Purchase Price, satisfaction or waiver of the Article 12 closing conditions, and completion of the Transaction to the Receiver's satisfaction.
- order date16 May 2018
- presiding officerJustice R. A. Graesser
- purchaserprice: note: Purchase price not stated in the order. · sealed: false · scope: the Debtors' and Westmere Communities Inc.'s respective right, title, and interest in and to the asset described in the Sale Agreement (the Purchased Assets), being the Lands legally described as Plan 1513280, Block 42, Lot 67 · status: approved · name note: The operative paragraphs of the order refer only to 'the Purchaser' and do not name it; the Schedule A form of Receiver's Certificate names Avtar Singh Toor, and the order title names the Avtar Toor Transaction. · structure: real_property · name source: schedule · relationship: unstated
- sale outcometext: Order approves the Transaction and vests the Purchased Assets (the Developer Lot) in the Purchaser upon delivery of the Receiver's Certificate. · scope: parcel · status: approved