Ontario · Receivership (court-appointed)
Motion Record returnable July 16 2021
Application / notice of application · 16 July 2021
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What we verified from this filing2 verified
- fee scheduleengagements: form: time_summary · rows: Sanj Mitra; Randy Hooke; Damian Lu; Shannon Morris · money: approximate: false · period: kind: unstated · approval: state: unstated · averages: · currency: · invoices: · firm text: Aird & Berlis LLP · firm quote: AIRD & BERLIS LLP · context quote: Aird & Berlis LLP's professional fees herein are made with respect to the following individuals
- recovery outcomeentries: basis: unstated · quote: the substantive administration of the receivership will come to an end once the proposed monetary distributions are made by the Receiver, with a significant shortfall to be experienced by RBC in respect of the secured debt owing to it; · pct of: unstated · outcome: shortfall · class key: secured · stated by: receiver · class label: Royal Bank of Canada · creditor name: Royal Bank of Canada · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: first, a distribution of $439,712.11 to Rassaun Services Inc. (' Rassaun ') in full satisfaction of Rassaun's claims against Sle-Co; and · pct of: unstated · outcome: paid_in_full · class key: unsecured · stated by: receiver · amount low: 439712.11 · amount high: 439712.11 · class label: Rassaun Services Inc. · creditor name: Rassaun Services Inc. · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: second, an interim distribution to RBC in the amount of $5,000,000; and · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · amount low: 5000000 · cumulative: false · amount high: 5000000 · class label: RBC (interim distribution) · creditor name: Royal Bank of Canada · interim final: interim · claims qualifier: unstated; basis: unstated · quote: To CRA in the amount of $560,884.80, in full satisfaction of the CRA Property Claim; · pct of: unstated · outcome: paid_in_full · class key: deemed_trust · stated by: receiver · amount low: 560884.8 · amount high: 560884.8 · class label: CRA (Property Claim) · creditor name: Canada Revenue Agency · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: To CRA in the further amount of $31,319.18, in full satisfaction of the HST arrears owing by Properties Inc. to CRA; · pct of: unstated · outcome: paid_in_full · class key: deemed_trust · stated by: receiver · amount low: 31319.18 · amount high: 31319.18 · class label: CRA (HST arrears) · creditor name: Canada Revenue Agency · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: To North Shore in the amount of $29,319, in full satisfaction of its claim against Sle-Co; · pct of: unstated · outcome: paid_in_full · class key: unsecured · stated by: receiver · amount low: 29319 · amount high: 29319 · class label: North Shore · creditor name: North Shore · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: To HP in trust the amount of $191,150, to be subsequently distributed by HP in accordance with the Proposed RBC-JOCL Resolution; and · pct of: unstated · outcome: distribution · stated by: receiver · amount low: 191150 · amount high: 191150 · class label: HP in trust · creditor name: HP · interim final: unstated · conditional on: to be subsequently distributed by HP in accordance with the Proposed RBC-JOCL Resolution · claims qualifier: unstated; basis: unstated · quote: The balance of the Remaining Funds and any residual funds that flow into the estate to RBC, but not to exceed the secured indebtedness owing to RBC. · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · class label: RBC (balance of Remaining Funds) · creditor name: Royal Bank of Canada · interim final: unstated · conditional on: not to exceed the secured indebtedness owing to RBC · claims qualifier: unstated · stated on: 2021-06-25 · table missing: