Manitoba · Receivership (court-appointed)

This Court approves the accounts of the Receiver and its legal counsel as are appended to the First Report, provided that any interested party may challenge the reasonableness of any such accounts by filing a Notice of Motion in the Court and serving it on the Receiver and all parties on the Service List no later than 45 days following the date of this Order. This Court orders and declares that the Receiver’s Confidential Report shall be treated as confidential and sealed and shall neither form part of the public record nor be disclosed to any party to this proceeding or otherwise, except: (a) by further Order of the Court, following notice to the Receiver of such motion; (b) on January 2, 2016; or (c) upon the date on which the Receiver files with the Court written notices that the transactions contemplated in both the Lockport Offer and the Sale Agreement concerning 83 Higgins have closed to the satisfaction of the Receiver; whichever shall first occur, whereupon the Receiver’s Confidential Report shall form part of the public record and no longer be regarded as sealed. This Court approves and authorizes the interim distribution by the Receiver to the Royal Bank of Canada (“RBC”) of the net proceeds from the sale of 83 Higgins, after the closing of the sale of 83 Higgins as described in the First Report. This Court approves and authorizes the distribution by the Receiver of $35,000 to Roynat Inc. in full satisfaction of all claims by Roynat Inc. against the Lockport Yard and the Quonset hut located thereupon, following closing of the Lockport Offer, as described in the First Report. This Court approves and authorizes the Trust Claims Process set forth in Schedule “A” to this Order and as discussed in the First Report, and directs the Receiver to proceed with the Trust Claims Process

Court officer report · 18 March 2015