Alberta · Receivership (court-appointed)
Filed Second Report of Receiver Filed March 2, 2020
Court officer report · 2 March 2020
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What we verified from this filing10 verified
- secured creditorsnote: Arising from 14 employee proofs of claim; Receiver confirmed payment of this amount to ESDC. · page: 7 · amount: 19794.92 · debtor: Machine Works Industrial Inc. · creditor: Employment and Social Development Canada (ESDC) · currency: CAD · security: Subrogated secured claim under Wage Earner Protection Program (WEPP)
- secured creditorsnote: Deemed trust claim (source deductions component of $87,696.88 total indebtedness) ranking in priority to all secured creditors, per CRA correspondence dated December 20, 2019. · page: 7 · as of: 2019-12-20 · amount: 32852.48 · debtor: Machine Works Industrial Inc. · creditor: Canada Revenue Agency · currency: CAD
- secured creditorsnote: Deemed trust claim (GST/HST component of $72,414 total outstanding indebtedness) ranking in priority to all secured creditors, per CRA correspondence dated December 20, 2019. · page: 8 · as of: 2019-12-20 · amount: 71781 · debtor: Machine Works Industrial Inc. · creditor: Canada Revenue Agency · currency: CAD
- secured creditorsnote: Stated as $1,955,290 plus interest and costs; legal counsel opined security is valid, binding, enforceable and validly perfected under PPSA. · page: 9 · amount: 1955290 · debtor: Machine Works Industrial Inc. · creditor: Royal Bank of Canada · currency: CAD · security: General Security Agreement against all present and after-acquired personal property
- secured creditorsnote: Stated as $214,589 plus G.S.T.; legal counsel opined security properly perfected with no registration issues. · page: 9 · amount: 214589 · debtor: Machine Works Industrial Inc. · creditor: Jim Peplinski Leasing Inc. · currency: CAD · security: Master Lease Agreement dated February 12, 2019 on vehicles, with 9 subsequent 'Offer to Lease' agreements
- secured creditorsnote: CWB failed to register financing statement within 15-day PPSA window after debtor took possession (registered Aug 15, 2019, 17 days after July 29, 2019 delivery); as a result RBC's GSA has priority over CWB's collateral and proceeds despite CWB's registration. · page: 10 · amount: 28159 · debtor: Machine Works Industrial Inc. · creditor: CWB National Leasing · currency: CAD · security: Lease Agreement on computer equipment
- closing confirmedscope: the Company's Property · outcome: completed · purchaser: Century Services Corp. · date basis: unstated · approval order date: 2019-10-29
- fee scheduleengagements: form: prose · rows: · money: total: quote: Attached hereto as Appendix "F" are the Receiver's time dockets for the period of August 12, 2019 to December 31, 2019 in the amount of $180,682. · amount: 180682 · approximate: false · period: end: 2019-12-31 · kind: invoice · quote: Attached hereto as Appendix "F" are the Receiver's time dockets for the period of August 12, 2019 to December 31, 2019 in the amount of $180,682. · start: 2019-08-12 · approval: state: unstated · averages: · currency: · invoices: · firm text: Deloitte Restructuring Inc. · firm quote: Deloitte Restructuring Inc. · context quote: In its capacity as Court Appointed Receiver of Machine Works Industrial Inc. and not in its personal capacity; form: invoice_listing · rows: · money: total: quote: Legal fees, inclusive of disbursements and G.S.T., were rendered by Legal Counsel and total $19,641.87 for the period of August 13, 2019 to December 18, 2019. · amount: 19641.87 · includes tax: true · includes disbursements: true · approximate: false · period: end: 2019-12-18 · kind: invoice · quote: for the period of August 13, 2019 to December 18, 2019 · start: 2019-08-13 · approval: state: unstated · averages: · currency: · invoices: tax: 161.19 · date: 2019-10-02 · fees: 3177.5 · quote: October 2, 2019 | $3,177.50 | $46.10 | $161.19 | $3,384.79 · total: 3384.79 · disbursements: 46.1; tax: 553 · date: 2019-11-01 · fees: 10902.5 · quote: November 1, 2019 | $10,902.50 | $207.49 | $553.00 | $11,662.99 · total: 11662.99 · disbursements: 207.49; tax: 146.33 · date: 2019-12-04 · fees: 2613 · quote: December 4, 2019 | $2,613.00 | $313.55 | $146.33 | $3,072.88 · total: 3072.88 · disbursements: 313.55; tax: 72.44 · date: 2019-12-23 · fees: 1275.5 · quote: December 23, 2019 $1,275.50 | $173.27 | $72.44 | $1,521.21 · total: 1521.21 · disbursements: 173.27 · context quote: Legal fees, inclusive of disbursements and G.S.T., were rendered by Legal Counsel and total $19,641.87 for the period of August 13, 2019 to December 18, 2019. · firm unverified: true
- purchaserCentury Services Corp.
- sale outcometext: The sale of the Company's Property to Century has been completed · scope: whole_business · status: closed