New Brunswick · Receivership (court-appointed)
Third Report of the Receiver dated September 19, 2024.pdf
Court officer report · 19 September 2024
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 filing2 verified
- recovery outcomeentries: basis: estimated · quote: As the accepted value of the Proposed Transactions is greater than the balance owing to the Caisse, the Receiver also contacted counsel for the Second Mortgage Holders to advise that the Successful Bids in the Sales Process, if approved by the Court, would result in a shortfall to the Second Mortgage Holders. · pct of: unstated · outcome: shortfall · class key: secured · stated by: receiver · class label: Second Mortgage Holders · claims amount: 5758241 · creditor name: Second Mortgage Holders · interim final: unstated · claims qualifier: estimated; basis: estimated · quote: the Receiver does not anticipate there will be sufficient funds available for distributions to unsecured creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: receiver · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated · stated on: 2024-09-19 · table missing:
- sale outcometext: The Receiver's motion will be seeking Orders of this Court approving the Proposed Transactions derived from the Sales Process and vesting title to the 720 Properties in the Successful Bidders · scope: whole_business · status: pending_approval