Ontario · Receivership (court-appointed)
Motion Record
Application / notice of application · 14 July 2017
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 filing1 verified
- recovery outcomeentries: basis: actual · quote: The Receiver has paid the Romspen Debt and HarbourEdge Debt from the net sale proceeds from the sale of the Purchased Assets or Hotel, extinguishing the first and second mortgages or the Romspen Debt and the HarbourEdge Debt; · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: receiver · class label: Romspen Investment Corporation (first mortgagee) · creditor name: Romspen Investment Corporation · interim final: unstated · claims qualifier: unstated; basis: actual · quote: The Receiver has paid the Romspen Debt and HarbourEdge Debt from the net sale proceeds from the sale of the Purchased Assets or Hotel, extinguishing the first and second mortgages or the Romspen Debt and the HarbourEdge Debt; · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: receiver · class label: HarbourEdge Mortgage Investment Corporation (second mortgagee) · creditor name: HarbourEdge Mortgage Investment Corporation · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: subject to the payment of certain remaining items and potential priority claims, and appropriate reserves being maintained by the Receiver, authorizing and directing the Receiver to make an interim distribution to the third mortgagee, Elie Khouri; and · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · class label: third mortgagee, Elie Khouri · creditor name: Elie Khouri · interim final: interim · conditional on: subject to the payment of certain remaining items and potential priority claims, and appropriate reserves being maintained by the Receiver · claims qualifier: unstated · stated on: 2017-07-14 · table missing: