Ontario · Receivership (court-appointed)
Third Report of Receiver, dated February 6, 2013
Court officer report · 6 February 2013
A plain-language read of this filing opens with a subscription.
What we verified from this filing1 verified
- recovery outcomeentries: basis: estimated · quote: The proposed interim distribution contemplates the following: (i) that the first secured mortgagee, Sun Life be paid out in full, subject to a holdback reserve created by the Receiver for the Sun Life Yield Maintenance Amount; · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: receiver · cumulative: false · class label: Sun Life (first secured mortgagee, Tim Hortons Property) · creditor name: Sun Life · interim final: interim · conditional on: subject to a holdback reserve created by the Receiver for the Sun Life Yield Maintenance Amount · claims qualifier: unstated; basis: unstated · quote: (ii) that the second secured mortgagee, Owemanco, be paid out in full; · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: receiver · cumulative: false · class label: Owemanco (second secured mortgagee, Tim Hortons Property) · creditor name: Owemanco · interim final: interim · claims qualifier: unstated; basis: estimated · quote: The proposed interim distribution contemplates the following: (i) that the first secured mortgagee, Empire Life, be paid out in full, subject to a holdback reserve created by the Receiver for the Empire Life Prepayment Obligations; · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: receiver · cumulative: false · class label: Empire Life (first secured mortgagee, Dorset Place Property) · creditor name: Empire Life · interim final: interim · conditional on: subject to a holdback reserve created by the Receiver for the Empire Life Prepayment Obligations · claims qualifier: unstated; basis: estimated · quote: (ii) that the second secured mortgagee, Virgin Ventures be paid out in full; · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: receiver · cumulative: false · class label: Virgin Ventures (second secured mortgagee, Dorset Place Property) · creditor name: Virgin Ventures · interim final: interim · claims qualifier: unstated; basis: estimated · quote: The proposed interim distribution contemplates the following: (i) that the first mortgagee, First Source Mortgage Corporation, be paid $376,296.20 in full satisfaction of its mortgage; · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: receiver · amount low: 376296.2 · cumulative: false · amount high: 376296.2 · class label: First Source Mortgage Corporation (first mortgagee, Preston Springs Property) · creditor name: First Source Mortgage Corporation · interim final: interim · claims qualifier: unstated; basis: estimated · quote: (i) that the collateral mortgagee Owemanco be paid $500,000 (to be · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · amount low: 500000 · cumulative: false · amount high: 500000 · class label: Owemanco (collateral mortgagee, Preston Springs Property) · creditor name: Owemanco · interim final: unstated · conditional on: to be allocated to the Vodden Mortgage as described above · claims qualifier: unstated; basis: unstated · quote: (iii) that the Receiver pay $108,565.68 to CRA being one-half of the total outstanding amount of the deemed trust claim owing by Dondeb (described more fully in section 8 below); · pct of: unstated · outcome: distribution · class key: deemed_trust · stated by: receiver · amount low: 108565.68 · cumulative: false · amount high: 108565.68 · class label: CRA - Dondeb Inc - Payroll Trust Claim (Tim Hortons Property) · creditor name: CRA · interim final: unstated · conditional on: being one-half of the total outstanding amount of the deemed trust claim owing by Dondeb · claims qualifier: unstated; basis: unstated · quote: (iii) that the Receiver pay $108,565.68 to CRA being one-half of the total outstanding amount of the deemed trust claim owing by Dondeb (described more fully in section 8 below); and · pct of: unstated · outcome: distribution · class key: deemed_trust · stated by: receiver · amount low: 108565.68 · cumulative: false · amount high: 108565.68 · class label: CRA - Dondeb Inc - Payroll Trust Claim (Dorset Place Property) · creditor name: CRA · interim final: unstated · conditional on: being one-half of the total outstanding amount of the deemed trust claim owing by Dondeb · claims qualifier: unstated · stated on: 2013-02-06 · table missing: