Alberta · Receivership (court-appointed)
Receiver's Second Report Confidential Appendices
Court officer report · 3 January 2020
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 filing10 verified
- cash on handnote: Schendel Mechanical Contracting Ltd. receipt line 'Cash on hand'; separate line for Schendel Management Ltd. is $4,126.69. Statements cover July 19, 2019 to January 3, 2020. · amount: 314567.08 · currency: CAD
- disbursementsnote: Total disbursements for Schendel Mechanical Contracting Ltd. - In Receivership. Schendel Management Ltd. total disbursements are $464,452.42. · since: July 19, 2019 (through January 3, 2020) · amount: 4833659.88 · currency: CAD
- operational summaryThe receivership is in its asset-realization and distribution phase: the receiver proposes second interim distributions to ATB, awaits the balance of the McDougall auction guarantee, and expects the Storage Yard sale to close by January 31, 2020 and the 76 Ave property sale to close around the same date.
- professional feesnote: Receiver's fees and disbursements for Mechanical; legal fees and disbursements are a further $279,793.19. For Schendel Management Ltd.: receiver's fees and disbursements $5,626.53; legal fees and expenses $5,383.00. Tax treatment not stated. · party: Receiver (Schendel Mechanical Contracting Ltd.) · amount: 138928.23 · period: July 19, 2019 to January 3, 2020 · currency: CAD
- purchaserprice: note: Price not legibly stated; net proceeds of approximately $290K estimated in the receipts and disbursements note · sealed: false · scope: the 76 Ave property (10636 76 Avenue, Grande Prairie) · status: proposed · name note: buyer not named in the legible text; the residential purchase contract for the 76 Ave Property is presented as a confidential appendix · structure: real_property · name source: recital · relationship: unstated
- receipts cumulativenote: Total receipts for Schendel Mechanical Contracting Ltd. - In Receivership. Schendel Management Ltd. total receipts are $879,176.89. · since: July 19, 2019 (through January 3, 2020) · amount: 5667936.34 · currency: CAD
- recovery outcomeentries: basis: unstated · quote: | Less: proposed maximum 2nd interim distribution to ATB | (1,000,000.00) | · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · cumulative: false · amount high: 1000000 · class label: ATB · creditor name: ATB · interim final: interim · claims qualifier: unstated; basis: unstated · quote: | Less: proposed maximum 2nd interim distribution to ATB | (2,750,000.00) | · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · cumulative: false · amount high: 2750000 · class label: ATB · creditor name: ATB · interim final: interim · claims qualifier: unstated · table missing:
- report noSecond Report
- sale advisorCentury 21 Grande Prairie Realty Inc.
- sale outcometext: Sale of the 76 Ave property is awaiting court approval, with closing anticipated around January 31, 2020. · scope: parcel · status: pending_approval