Ontario · NOI
Second Report of the Receiver dated March 24, 2026
Court officer report · 24 March 2026
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What we verified from this filing11 verified
- cash on handnote: Referred to as the 'Remaining Funds' held by the Receiver · as at: 2026-03-23 · amount: 7000 · currency: CAD · qualifier: approximately
- fee scheduleengagements: form: prose · rows: · money: approximate: false · period: kind: unstated · label: the Period · quote: The average hourly rate billed by the Receiver during the Period is $530.56. · approval: state: unstated · averages: rate: 530.56 · quote: The average hourly rate billed by the Receiver during the Period is $530.56. · currency: · invoices: quote: rendered during the period from September to December amount to plus · total: 43458 · period end: 2025-12-01 · period start: 2025-09-01; quote: for the period from October to November total plus disbursements in the · total: 16200 · period end: 2025-11-01 · period start: 2025-10-01; quote: period from November to December total plus disbursements in the · total: 10200 · period end: 2025-12-01 · period start: 2025-11-01 · firm text: Albert Gelman Inc. · firm quote: SECOND REPORT OF ALBERT GELMAN INC. IN ITS CAPACITY AS RECEIVER · context quote: This report (the ' Second Report ') is filed by Albert Gelman Inc. (' AGI ') in its capacity as receiver and manager (in such capacity, the ' Receiver ')
- operational summaryThe Debtors have no employees and their real estate development project stalled due to liquidity issues; the Receiver conducted a SISP resulting in the Applicant's stalking horse bid being selected as the successful bid, with the Receiver recommending Court approval to complete the sale of the Real Property as a going concern.
- process resultsbids: 1 · lois: 1 · ndas: 25 · note: one party, in addition to the Stalking Horse Bidder, submitted an offer by the Phase 1 Bid Deadline · solicited: 700
- professional feesnote: Excludes HST; disbursements of $8,888 additional; not yet approved by Court. Capstone (counsel) fees separately $37,400 plus $339 disbursements for same period, excluding HST. · party: Albert Gelman Inc. (Receiver) · amount: 63827 · period: January 1, 2026 to March 20, 2026 · currency: CAD
- purchaser915643 Ontario Inc.
- report date24 March 2026
- report noSecond Report
- sale advisorLennard Commercial Realty, Brokerage
- sale outcometext: the Stalking Horse Bid was determined to be the Successful Bid following rejection of a competing LOI, and the SISP did not proceed to Phase 2 · scope: whole_business · status: approved
- stalking horse915643 Ontario Inc.