Ontario · Receivership (court-appointed)
Motion Record of the Receiver (for motion returnable July 9, 2026)
Application / notice of application · 3 July 2026
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
- fee scheduleengagements: form: prose · rows: · money: fees: quote: for a total of $89,779.50 and applicable taxes · amount: 89779.5 · approximate: false · period: kind: unstated · approval: state: unstated · averages: rate: 487.14 · quote: an average hourly rate of approximately $487.14 · currency: · invoices: · firm text: Albert Gelman Inc. · firm quote: Lawyers for Albert Gelman Inc. in its capacity as Court-Appointed Receiver · hours total: quote: 184.3 hours at an average hourly rate of approximately $487.14 · value: 184.3 · context quote: The Receiver's fees encompass 184.3 hours at an average hourly rate of approximately $487.14 for a total of $89,779.50 and applicable taxes.; form: prose · rows: · money: fees: quote: for total fees of $55,635.00 · amount: 55635 · total: quote: accounts totalling $63,908.25 inclusive of disbursements and applicable taxes · amount: 63908.25 · includes tax: true · includes disbursements: true · approximate: false · period: kind: unstated · approval: state: unstated · averages: rate: 538.58 · quote: an average hourly rate of approximately $538.58 · currency: · invoices: · firm text: Chaitons LLP · firm quote: CHAITONS LLP · hours total: quote: 103.30 hours at an average hourly rate of approximately $538.58 · value: 103.3 · context quote: Chaitons' fees encompass 103.30 hours at an average hourly rate of approximately $538.58 for total fees of $55,635.00 and accounts totalling $63,908.25 inclusive of disbursements and applicable taxes.
- recovery outcomeentries: basis: estimated · quote: The sale proceeds generated from the Transaction are expected to result in a partial payout of the TD Bank Mortgage resulting in TD Bank suffering a shortfall. · pct of: unstated · outcome: shortfall · class key: secured · stated by: receiver · class label: TD Bank Mortgage · creditor name: TD Bank · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: Given that TD Bank will suffer a shortfall in respect of the TD Bank Mortgage, there will be no distribution to any other secured or unsecured creditors of the Company. · pct of: unstated · outcome: nil · class key: secured · stated by: receiver · class label: any other secured or unsecured creditors of the Company · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: Any potential CRA claim for corporate income tax would be an unsecured claim and, based on the anticipated net realizations and the amount owing to TD Bank, would not result in any distribution to CRA. · pct of: unstated · outcome: nil · class key: deemed_trust · stated by: receiver · class label: CRA · creditor name: CRA · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: The Receiver does not expect that any funds will be available for distribution 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: 2026-07-03 · table missing: