Ontario · Receivership (court-appointed)
Secord Report to the Court dated
Court officer report · 21 February 2025
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What we verified from this filing8 verified
- closing confirmedscope: the Purchased Assets · outcome: completed · effective: 2024-10-01 · purchaser: Joseph Saad and Maged Daoud (in trust for a corporation to be incorporated) · date basis: stated_partial · approval order date: 2024-08-29
- fee scheduleengagements: form: time_summary · rows: Harvey Chaiton; Harvey Chaiton; Michael Pasternack; Logan Gong; Laura Culleton; Liam Scanlon; fees: 57408.5 · hours: 99.8 · quote: Total Hours and Amounts Billed | | 99.80 | | $57,408.50 · row kind: subtotal · rate kind: standard · name as stated: Total Hours and Amounts Billed · money: tax: label: HST · quote: Total Taxes (HST) | | | | $7,522.83 · amount: 7522.83 · fees: quote: Total Hours and Amounts Billed | | 99.80 | | $57,408.50 · amount: 57408.5 · total: quote: totalling $66,448.89 (comprised of fees of $57,408.50, disbursements of $1,517.56 and HST of $7,522.83) · amount: 66448.89 · includes tax: true · includes disbursements: true · approximate: false · disbursements: quote: Total Costs | | | | $1,517.56 · amount: 1517.56 · period: end: 2025-01-31 · kind: cumulative · quote: for the period commencing August 6, 2024 and ending January 31, 2025 · start: 2024-08-06 · approval: quote: approving the fees and disbursements of the Receiver and its counsel, Chaitons LLP (' Chaitons '). · state: sought · averages: rate: 574.97 · quote: The average hourly rate is $574.97(excluding taxes). · scope: excluding taxes · currency: · invoices: date: 2024-09-30 · fees: 23730 · quote: GRAND TOTAL $26,840.98 · total: 26840.98 · period end: 2024-09-30 · disbursements: 24; date: 2024-10-31 · fees: 6686 · quote: GRAND TOTAL $7,890.55 · total: 7890.55 · period end: 2024-10-31 · disbursements: 314.71; fees: 3114.5 · quote: GRAND TOTAL $3,613.05 · total: 3613.05 · period end: 2024-11-30 · disbursements: 85.65; date: 2025-01-31 · fees: 7314.5 · quote: GRAND TOTAL $8,798.24 · total: 8798.24 · period end: 2025-01-31 · disbursements: 519.8 · firm text: Chaitons LLP · firm quote: Chaitons LLP (' Chaitons ') · hours total: quote: Total Hours and Amounts Billed | | 99.80 | | $57,408.50 · value: 99.8 · context quote: Attached hereto and collectively marked as Exhibit 'A' are copies of the accounts issued by Chaitons to the Receiver for the period commencing August 6, 2024 and ending January 31, 2025, totalling $66,448.89 (comprised of fees of $57,408.50, disbursements of $1,517.56 and HST of $7,522.83) with respect to this proceeding.; form: time_summary · rows: Harvey G. Chaiton; Michael Pasternack; Laura Culleton; Logan Gong · money: fees: quote: TOTAL PROFESSIONAL FEES $23,730.00 · amount: 23730 · total: quote: GRAND TOTAL $26,840.98 · amount: 26840.98 · includes tax: true · includes disbursements: true · approximate: false · disbursements: quote: TOTAL DISBURSEMENTS $24.00 · amount: 24 · period: end: 2024-09-30 · kind: invoice · quote: FOR PROFESSIONAL SERVICES RENDERED on this matter up to and including September 30, 2024: · approval: state: unstated · averages: · currency: · invoices: · firm text: Chaitons LLP · firm quote: CHAITONS LLP · hours total: quote: Total: | | 38.70 | $23,730.00 · value: 38.7 · context quote: FOR PROFESSIONAL SERVICES RENDERED on this matter up to and including September 30, 2024:; form: time_summary · rows: Harvey G. Chaiton; Michael Pasternack; Laura Culleton; Logan Gong · money: fees: quote: TOTAL PROFESSIONAL FEES $6,686.00 · amount: 6686 · total: quote: GRAND TOTAL $7,890.55 · amount: 7890.55 · includes tax: true · includes disbursements: true · approximate: false · disbursements: quote: TOTAL DISBURSEMENTS $314.71 · amount: 314.71 · period: end: 2024-10-31 · kind: invoice · quote: FOR PROFESSIONAL SERVICES | on this matter up to and | October 31, 2024: · approval: state: unstated · averages: · currency: · invoices: · firm text: Chaitons LLP · firm quote: CHAITONS LLP · hours total: quote: Total: | | 13.70 | $6,686.00 · value: 13.7 · context quote: FOR PROFESSIONAL SERVICES on this matter up to and October 31, 2024:; form: time_summary · rows: Harvey G. Chaiton; Laura Culleton · money: total: quote: GRAND TOTAL $3,613.05 · amount: 3613.05 · includes tax: true · includes disbursements: true · approximate: false · disbursements: quote: TOTAL DISBURSEMENTS HST at 13.00% | | $85.65 8.01 · amount: 85.65 · period: kind: invoice · quote: FOR PROFESSIONAL SERVICES RENDERED | on this matter up to and | November 30, · approval: state: unstated · averages: · currency: · invoices: · firm text: Chaitons LLP · firm quote: CHAITONS LLP · hours total: quote: Total: | | 4.70 | $3,114.50 · value: 4.7 · context quote: FOR PROFESSIONAL SERVICES RENDERED on this matter up to and November 30, 2024: · context unverified: true; form: time_summary · rows: Harvey G. Chaiton; Harvey G. Chaiton; Liam Scanlon; Laura Culleton · money: fees: quote: TOTAL PROFESSIONAL FEES $7,314.50 · amount: 7314.5 · total: quote: GRAND TOTAL $8,798.24 · amount: 8798.24 · includes tax: true · includes disbursements: true · approximate: false · disbursements: quote: TOTAL DISBURSEMENTS $519.80 · amount: 519.8 · period: end: 2025-01-31 · kind: invoice · quote: FOR PROFESSIONAL SERVICES | matter up to and including January | 31, 2025: · approval: state: unstated · averages: · currency: · invoices: · firm text: Chaitons LLP · firm quote: CHAITONS LLP · hours total: quote: Total: | | 9.60 | $7,314.50 · value: 9.6 · context quote: FOR PROFESSIONAL SERVICES matter up to and including January 31, 2025:
- operational summaryThe Receiver operated the pharmacy business to stabilize it, then completed a sale of substantially all assets to a purchaser, resolving a Ministry overpayment issue to close the transaction; remaining duties include investigating an intercompany receivable, tax matters, and completing distribution of funds.
- professional feesnote: Excludes disbursements and HST; average hourly rate $574.97 excluding taxes. Chaitons (Receiver's counsel) fees separately total $66,448.89 inclusive of disbursements and HST for August 6, 2024 to January 31, 2025. · party: Receiver (MNP Ltd.) · amount: 91707.3 · period: August 19, 2024 to February 20, 2025 · currency: CAD
- purchaserJoseph Saad and Maged Daoud (in trust for a corporation to be incorporated)
- report date21 February 2025
- report noSecond Report
- sale outcometext: The sale transaction closed after resolving the Overpayment issue with ODB. · scope: whole_business · status: closed