New Brunswick · Receivership (court-appointed)
Supplement to the Ninth Report of the Receiver, dated July 10, 2026
Court officer report · 10 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 filing11 verified
- cash on handnote: Cash on Hand of $19,144,931 plus Segregated Funds, Clear Claim of $157,539 equals Total Cash on Hand of $19,302,470, per the Statement of Receipts and Disbursements to July 7, 2026 · as at: 2026-07-07 · amount: 19302470 · currency: CAD · qualifier: includes segregated Clear Claim funds
- closing confirmedscope: the McKnight Property · outcome: completed · effective: 2026-07-06 · purchaser: Colpitts Property Group Ltd. · date basis: stated
- disbursementsnote: Total Disbursements per Statement of Receipts and Disbursements from April 15, 2024 to July 7, 2026, excluding Payments to Creditors of $127,629 · since: April 15, 2024 (Date of Receivership) · amount: 4824722 · currency: CAD
- operational summaryWith the closing of the McKnight Property sale, the Receiver has fully realized on all of the Company's property for the benefit of creditors, and remaining matters relate to wind-down items such as the Clear Claim settlement and the Van Wart claim.
- professional feesnote: Receiver's fees approximately $664,000; counsel (McInnes Cooper) fees approximately $671,000; pre-SAVO Appeal costs were $412,000 (Receiver) and $177,000 (counsel) · party: Receiver and its counsel, McInnes Cooper · amount: 664000 · period: since Date of Receivership (April 15, 2024) through July 7, 2026 · currency: CAD
- purchaserColpitts Property Group Ltd.; Clear Claim
- receipts cumulativenote: Total Receipts per Statement of Receipts and Disbursements from April 15, 2024 to July 7, 2026 · since: April 15, 2024 (Date of Receivership) · amount: 24097282 · currency: CAD
- recovery outcomeentries: basis: unstated · quote: The Trustee advised that an Order directing payment of those funds to the Trustee was served on Van Wart's bank in May, but no funds had yet been received and it therefore cannot proceed with a distribution to proven creditors at this time. · pct of: unstated · outcome: undetermined · class key: unsecured · stated by: receiver · class label: proven creditors · interim final: unstated · conditional on: no funds had yet been received by the Trustee · claims qualifier: unstated · stated on: 2026-07-10 · table missing:
- report date10 July 2026
- report noSupplement to the Ninth Report
- sale outcometext: With the closing of the sale of the McKnight Property transaction, the Receiver has fully realized on all the Company's Property for the benefit of creditors. · scope: whole_business · status: closed