Ontario · Receivership (court-appointed)
Motion Record of the Receiver with Second Report, returnable July 15, 2014
Application / notice of application · 15 July 2014
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What we verified from this filing2 verified
- fee scheduleengagements: form: prose · rows: · money: approximate: false · period: end: 2014-06-13 · kind: invoice · quote: detailing its services rendered and disbursements incurred for the period from May 5, 2014 to June 13, 2014 · start: 2014-05-05 · approval: state: unstated · averages: rate: 382.22 · quote: The average hourly rate in respect of the accounts is $382.22. · currency: · invoices: · firm text: A. Farber & Partners Inc. · firm quote: A. Farber & Partners Inc., in its capacity as the Court-appointed receiver · context quote: A. Farber & Partners Inc., in its capacity as the Court-appointed receiver (the "Receiver ") of all of the undertaking, property and assets of Quality Meat Packers Limited; form: prose · rows: · money: approximate: false · period: end: 2014-06-26 · kind: invoice · quote: an account dated June 27, 2014 in respect of the period from May 5, 2014 to June 26, 2014 · start: 2014-05-05 · approval: state: unstated · averages: rate: 573.33 · quote: The average hourly rate of Aird & Berlis LLP is $573.33. · currency: · invoices: · firm text: Aird & Berlis LLP · firm quote: Aird & Berlis LLP has prepared a Statement of Account in connection with its mandate as counsel to the Receiver · context quote: Aird & Berlis LLP has prepared a Statement of Account in connection with its mandate as counsel to the Receiver, namely, an account dated June 27, 2014 in respect of the period from May 5, 2014 to June 26, 2014.
- recovery outcomeentries: basis: estimated · quote: As a result, no significant recoveries are expected on the IP but the Receiver will undertake a more targeted approach to realizing on the IP to try to recover a positive recovery for the estates. · pct of: unstated · outcome: nil · stated by: receiver · class label: IP (trademarks/designs) · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: The Receiver does not expect any recovery for the benefit of the estate on these bonds. · pct of: unstated · outcome: nil · stated by: receiver · class label: State of Israel Bonds (securities) · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: Accordingly, the Receiver expects the total deemed trust claim to be $7,409, which will be paid by the Receiver. · pct of: unstated · outcome: paid_in_full · class key: deemed_trust · stated by: receiver · amount low: 7409 · amount high: 7409 · class label: CRA deemed trust (source deductions) · claims amount: 7409 · creditor name: CRA · interim final: unstated · claims qualifier: asserted; basis: actual · quote: As noted in the Priority Claims section above, TD has been paid in full (subject to the small distribution to be made as discussed above). · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: receiver · class label: TD (secured creditor) · creditor name: TD · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: At this time, the Receiver is recommending an interim distribution of $7,500,000 to Holdings from the QMP estate. · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · amount low: 7500000 · cumulative: false · amount high: 7500000 · class label: Holdings (secured creditor, QMP estate) · creditor name: Holdings · interim final: interim · claims qualifier: unstated; basis: unstated · quote: No interim distribution from the TAL estate is being recommended at this time. · pct of: unstated · outcome: nil · stated by: receiver · class label: TAL estate creditors · interim final: interim · conditional on: at this time · claims qualifier: unstated; basis: estimated · quote: It is anticipated that the secured creditors will suffer a shortfall. · pct of: unstated · outcome: shortfall · class key: secured · stated by: unstated · class label: secured creditors · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: Accordingly, no surplus funds are expected to be available for distribution to preferred or unsecured creditors. · pct of: unstated · outcome: nil · class key: preferred · stated by: unstated · class label: preferred or unsecured creditors · interim final: unstated · claims qualifier: unstated · table missing: