British Columbia · Bankruptcy
Fifth Report of the Receiver dated October 31, 2022
Court officer report · 31 October 2022
A plain-language read of this filing opens with a subscription.
What we verified from this filing9 verified
- cash on handnote: Receipts in excess of disbursements per Final SRD · as at: 2022-10-25 · amount: 66179.5 · currency: CAD
- disbursementsnote: excludes payments to CWB of $10,585,000.00 which are shown separately as payments to creditors · since: inception of receivership (per Final Statement of Receipts and Disbursements) · amount: 5557896.95 · currency: CAD
- fee scheduleengagements: form: invoice_listing · rows: · money: tax: label: GST · quote: 3,770.30 · amount: 3770.3 · fees: quote: 75,405.75 · amount: 75405.75 · total: quote: 79,176.05 · amount: 79176.05 · includes tax: true · includes disbursements: true · approximate: false · period: end: 2022-09-30 · kind: invoice · quote: The following is a summary of the invoices issued by the Receiver for the period June 1, 2022 to September 30, 2022: · start: 2022-06-01 · approval: state: unstated · averages: · currency: · invoices: tax: 1624.14 · date: 2022-06-30 · fees: 32482.8 · quote: LSBC-4993 | Jun 30, 2022 | 32,482.80 | - | 1,624.14 | 34,106.94 · total: 34106.94 · period end: 2022-06-30 · period start: 2022-06-01; tax: 1006.38 · date: 2022-07-31 · fees: 20127.45 · quote: LSBC-5044 | Jul 31, 2022 | 20,127.45 | - | 1,006.38 | 21,133.83 · total: 21133.83 · period end: 2022-07-31 · period start: 2022-07-01; tax: 755.14 · date: 2022-08-31 · fees: 15102.67 · quote: LSBC-5089 | Aug 31, 2022 | 15,102.67 | - | 755.14 | 15,857.81 · total: 15857.81 · period end: 2022-08-31 · period start: 2022-08-01; tax: 384.64 · date: 2022-09-30 · fees: 7692.83 · quote: LSBC-5133 | Sep 30, 2022 | 7,692.83 | - | 384.64 | 8,077.47 · total: 8077.47 · period end: 2022-09-30 · period start: 2022-09-01 · firm text: Grant Thornton Limited · firm quote: FIFTH REPORT TO THE COURT SUBMITTED BY GRANT THORNTON LIMITED in its capacity as receiver and manager of Konnect Brookside Villas Limited Partnership and Konnect Brookside Holdings Ltd. · hours total: quote: 132.10 · value: 132.1 · context quote: in its capacity as receiver and manager of Konnect Brookside Villas Limited Partnership and Konnect Brookside Holdings Ltd.; form: time_summary · rows: Mark Wentzell; Andrew Basi; Jason Knight; Mark Arzadon; Jacqueline Dowdell · money: approximate: false · period: end: 2022-06-30 · kind: invoice · quote: For professional services for the period from June 1 to 30, 2022 · start: 2022-06-01 · approval: state: unstated · averages: · currency: code: CAD · quote: Rate/Hr (Cdn $) · invoices: · firm text: Grant Thornton Limited · firm quote: FIFTH REPORT TO THE COURT SUBMITTED BY GRANT THORNTON LIMITED in its capacity as receiver and manager of Konnect Brookside Villas Limited Partnership and Konnect Brookside Holdings Ltd. · hours total: quote: 56.60 Hrs. · value: 56.6 · context quote: Konnect Brookside Villas Limited Partnership - Receivership; form: time_summary · rows: Mark Wentzell; Andrew Basi; Jason Knight; Mark Arzadon; Jacqueline Dowdell · money: approximate: false · period: end: 2022-07-31 · kind: invoice · quote: For professional services for the period from July 1 to 31, 2022 · start: 2022-07-01 · approval: state: unstated · averages: · currency: code: CAD · quote: Rate/Hr (Cdn $) · invoices: · firm text: Grant Thornton Limited · firm quote: FIFTH REPORT TO THE COURT SUBMITTED BY GRANT THORNTON LIMITED in its capacity as receiver and manager of Konnect Brookside Villas Limited Partnership and Konnect Brookside Holdings Ltd. · hours total: quote: 34.10 · value: 34.1 · context quote: Konnect Brookside Villas Limited Partnership - Receivership; form: time_summary · rows: Mark Wentzell; Andrew Basi; Jason Knight; Philip McCourt; Mark Arzadon; Jacqueline Dowdell · money: approximate: false · period: end: 2022-08-31 · kind: invoice · quote: For professional services for the period from August 1 to 31, 2022 · start: 2022-08-01 · approval: state: unstated · averages: · currency: code: CAD · quote: Rate/Hr (Cdn $) · invoices: · firm text: Grant Thornton Limited · firm quote: FIFTH REPORT TO THE COURT SUBMITTED BY GRANT THORNTON LIMITED in its capacity as receiver and manager of Konnect Brookside Villas Limited Partnership and Konnect Brookside Holdings Ltd. · hours total: quote: 26.40 Hrs. · value: 26.4 · context quote: Konnect Brookside Villas Limited Partnership - Receivership; form: time_summary · rows: Mark Wentzell; Andrew Basi; Jason Knight; Alex Cameron; Mark Arzadon; Jacqueline Dowdell · money: approximate: false · period: end: 2022-09-30 · kind: invoice · quote: For professional services for the period from September 1 to 30, 2022 · start: 2022-09-01 · approval: state: unstated · averages: · currency: code: CAD · quote: Rate/Hr (Cdn $) · invoices: · firm text: Grant Thornton Limited · firm quote: FIFTH REPORT TO THE COURT SUBMITTED BY GRANT THORNTON LIMITED in its capacity as receiver and manager of Konnect Brookside Villas Limited Partnership and Konnect Brookside Holdings Ltd. · hours total: quote: 15.00 Hrs. · value: 15 · context quote: Konnect Brookside Villas Limited Partnership - Receivership; form: invoice_listing · rows: · money: tax: label: GST & PST · quote: 7,097.78 · amount: 7097.78 · fees: quote: 58,532.00 · amount: 58532 · total: quote: 67,403.69 · amount: 67403.69 · includes tax: true · includes disbursements: true · approximate: false · disbursements: quote: 1,773.91 · amount: 1773.91 · period: end: 2022-09-30 · kind: invoice · quote: The invoices of Fasken for the period from June 1, 2022 to September 30, 2022 are summarized in the table below · start: 2022-06-01 · approval: quote: As a result of the Adjournments, Fasken's incurred fees and disbursements in these proceedings have not yet been approved by this Court. · state: unstated · averages: · currency: · invoices: tax: 1706.37 · date: 2022-07-15 · fees: 14161 · quote: 1739570 | Jul 15, 2022 | 14,161.00 | 147.98 | 1,706.37 | 16,015.35 · total: 16015.35 · disbursements: 147.98; tax: 2906.51 · date: 2022-08-23 · fees: 23933 · quote: 1750099C | Aug 23, 2022 | 23,933.00 | 967.04 | 2,906.51 | 27,806.55 · total: 27806.55 · disbursements: 967.04; tax: 1845.08 · date: 2022-09-12 · fees: 15198 · quote: 1758700 | Sep 12, 2022 | 15,198.00 | 426.40 | 1,845.08 | 17,469.48 · total: 17469.48 · disbursements: 426.4; tax: 639.82 · date: 2022-10-12 · fees: 5240 · quote: 1769100 | Oct 12, 2022 | 5,240.00 | 232.49 | 639.82 | 6,112.31 · total: 6112.31 · disbursements: 232.49 · firm text: Fasken · firm quote: The Receiver's counsel is Fasken. · context quote: The Receiver's counsel is Fasken. The invoices of Fasken for the period from June 1, 2022 to September 30, 2022 are summarized in the table below
- operational summaryThe receivership sale of the Project completed on September 1, 2022 for $11,000,000; the Receiver has substantially completed its duties, leaving only record destruction, final GST filings, cost settlement, and a final distribution to CWB, and seeks its discharge.
- professional feesnote: Fasken's Fees for period September 15, 2020 to September 30, 2022 total $363,960.37, sought separately · party: Receiver (Grant Thornton Limited) · amount: 544740.82 · period: April 1, 2021 to September 30, 2022 · currency: CAD
- receipts cumulativesince: inception of receivership (per Final Statement of Receipts and Disbursements) · amount: 16209076.45 · currency: CAD
- recovery outcomeentries: basis: unstated · quote: Given the Shortfall, none of the foregoing creditors will receive any disbursements in respect of the indebtedness respectively owed to them. · pct of: unstated · outcome: nil · class key: unsecured · stated by: receiver · class label: Axus · claims amount: 2540876 · creditor name: Axus · interim final: unstated · claims qualifier: estimated; basis: unstated · quote: Given the Shortfall, none of the foregoing creditors will receive any disbursements in respect of the indebtedness respectively owed to them. · pct of: unstated · outcome: nil · class key: unsecured · stated by: receiver · class label: 1133823 B.C. Ltd. · claims amount: 974648.41 · creditor name: 1133823 B.C. Ltd. · interim final: unstated · claims qualifier: estimated; basis: unstated · quote: Given the Shortfall, none of the foregoing creditors will receive any disbursements in respect of the indebtedness respectively owed to them. · pct of: unstated · outcome: nil · class key: unsecured · stated by: receiver · class label: Deborah Claire Lucas & Frederic Joseph Pascal Gagne · claims amount: 516580.82 · creditor name: Deborah Claire Lucas & Frederic Joseph Pascal Gagne · interim final: unstated · claims qualifier: estimated; basis: unstated · quote: Given the Shortfall, none of the foregoing creditors will receive any disbursements in respect of the indebtedness respectively owed to them. · pct of: unstated · outcome: nil · class key: unsecured · stated by: receiver · class label: Mahmood Mangalji · claims amount: 264173.56 · creditor name: Mahmood Mangalji · interim final: unstated · claims qualifier: estimated; basis: unstated · quote: Given the Shortfall, none of the foregoing creditors will receive any disbursements in respect of the indebtedness respectively owed to them. · pct of: unstated · outcome: nil · class key: unsecured · stated by: receiver · class label: Scott Contracting et al. · claims amount: 108620.67 · creditor name: Scott Contracting et al. · interim final: unstated · claims qualifier: estimated; basis: unstated · quote: Given the Shortfall, none of the foregoing creditors will receive any disbursements in respect of the indebtedness respectively owed to them. · pct of: unstated · outcome: nil · class key: unsecured · stated by: receiver · class label: Robert Louie · creditor name: Robert Louie · interim final: unstated · claims qualifier: unstated · stated on: 2022-10-31 · table missing:
- report date31 October 2022
- report noFifth Report