British Columbia · Receivership (court-appointed)
Supplemental Report to the Second Report of the Receiver
Court officer report · 12 June 2025
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What we verified from this filing8 verified
- cash on handnote: Closing cash per interim statement of cash receipts and disbursements; also referenced as 'approximately $11.4 million' in creditor correspondence. · as at: 2025-04-30 · amount: 11401417 · currency: CAD · qualifier: approximately
- disbursementsnote: Total disbursements for the period July 8, 2024 to April 30, 2025. · since: July 8, 2024 (Receivership Date) · amount: 438499 · currency: CAD
- financial positionnote: Total assets figure is estimated value of Property and land ($87,760,000) per Form 87; total liabilities is the sum of Secured creditors ($49,780,310) and Unsecured creditors ($9,334,003) as stated in Form 87's own total line. · as at: 2024-07-08 · basis: Receiver's assessed/estimated value, unaudited; "Realizable values may be materially different from the above. The Receiver has not audited, reviewed or otherwise attempted to verify the accuracy of the foregoing." · scope: entity - SCREO I Metrotown Inc. and SCREO I Metrotown L.P. (combined, as at Receivership Date) · currency: CAD · total assets: 87760000 · total liabilities: 59114313
- operational summaryThe Debtors' two office towers have already been sold; the Receiver continues to hold remaining sale proceeds of approximately $11.4 million pending resolution of competing claims by Timbercreek and the Greater Vancouver Water District, with no formal unsecured claims process yet established.
- professional feesnote: Statement also lists Legal fees and disbursements of $74,624 and other Professional fees of $17,504 for the same period; not stated whether GST/PST are included or excluded from these figures. · party: Receiver (Alvarez & Marsal Canada Inc.) · amount: 126660 · period: July 8, 2024 to April 30, 2025 · currency: CAD
- receipts cumulativenote: Total receipts for the period July 8, 2024 to April 30, 2025, comprised primarily of sale of assets proceeds and receiver's borrowings. · since: July 8, 2024 (Receivership Date) · amount: 11839916 · currency: CAD
- report date12 June 2025
- report noSupplemental Report to the Second Report of the Receiver