Ontario · Receivership (court-appointed)
Second Report of the Receiver (for motion returnable July 19, 2019)
Court officer report · 19 July 2019
A plain-language read of this filing opens with a subscription.
What we verified from this filing7 verified
- operational summaryOpCo's convenience store and gas bar had already ceased operating before the receivership, leaving negligible-value inventory and equipment; the Receiver has since focused on marketing and selling the Real Property and Chattels, having accepted a third offer for sale.
- purchaserprice: note: price contained in sealed Confidential Second Report and Purchase Agreement · sealed: true · scope: the Real Property and Chattels · status: approved · name note: purchaser under the accepted Third Offer for the Real Property and Chattels; named only in sealed Confidential Second Report · structure: real_property · name source: recital · relationship: unstated · agreement date: 2019-05-24; price: sealed: false · scope: the Real Property and Chattels · status: not_completed · name note: prospective purchaser under the First Offer · structure: real_property · name source: recital · relationship: unstated; price: sealed: false · scope: the Real Property and Chattels · status: not_completed · name note: second prospective buyer under the Second Offer · structure: real_property · name source: recital · relationship: unstated
- recovery outcomeentries: basis: estimated · quote: BMO will be suffering a shortfall on its loans to LandCo and OpCo. · pct of: unstated · outcome: shortfall · class key: secured · stated by: receiver · class label: BMO · creditor name: BMO · interim final: unstated · claims qualifier: unstated · stated on: 2019-07-16 · table missing:
- report date16 July 2019
- report noSecond Report
- sale advisorBall Real Estate Inc. Brokerage and World Class Realty Point Brokerage
- sale outcometext: Receiver seeks approval of the Transaction under the accepted Third Offer as the best and highest realization · scope: parcel · status: pending_approval