Ontario · Receivership (court-appointed)
Second Report of the Receiver dated November 17, 2023
Court officer report · 17 November 2023
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What we verified from this filing9 verified
- fee scheduleengagements: form: prose · rows: · money: approximate: false · period: kind: unstated · approval: state: unstated · averages: rate: 537.41 · quote: The average hourly rate of Aird & Berlis LLP is $537.41. · currency: · invoices: date: 2023-10-31 · quote: an account dated October 31, 2023 in the amount of $19,766.53 in respect of the period from October 1, 2023 to October 31, 2023 · total: 19766.53 · period end: 2023-10-31 · period start: 2023-10-01 · firm text: Aird & Berlis LLP · firm quote: The average hourly rate of Aird & Berlis LLP is $537.41. · context quote: The average hourly rate of Aird & Berlis LLP is $537.41.
- operational summaryThe Company's operations ceased upon its bankruptcy, all employees were terminated, and the Receiver has been conducting a sale process culminating in an auction transaction with Perfection Global LLC and a separate equipment sale to Barrie Welding & Machine, while managing customer tooling/mould disputes and occupancy of the leased premises.
- process resultsas of: 2023-09-01 · solicited: 90
- professional feesnote: Figures are before taxes; table shows KSV fees $528,421 + disbursements $2,877 = $532,298, and Aird & Berlis fees $132,525 + disbursements $582 = $133,107, combined total fees $660,946 and combined total (fees + disbursements) $664,405. · party: Receiver (KSV Restructuring Inc.) and its legal counsel, Aird & Berlis LLP · amount: 664405 · period: August 2023 - October 2023 · currency: CAD
- purchaserprice: sealed: true · scope: substantially all the Property, other than the equipment referenced in (d) below · status: proposed · name note: end purchasers at auction, unnamed · structure: auction · name source: operative · relationship: unstated · agreement date: 2023-10-30; Barrie Welding & Machine (1974) Limited
- report date17 November 2023
- report noSecond Report
- sale advisorPerfection Global LLC
- sale outcometext: the Sale Process was conducted and resulted in the Perfection Transaction and the Barrie Transaction, for which the Receiver seeks approval · scope: whole_business · status: pending_approval