Ontario · Receivership (court-appointed)
Motion Record of the Receiver - November 18 2019
Application / notice of application · 18 November 2019
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What we verified from this filing2 verified
- fee scheduleengagements: form: prose · rows: · money: approximate: false · period: end: 2019-09-30 · kind: invoice · quote: for the period of May 13, 2019 to September 30, 2019 · start: 2019-05-13 · approval: state: unstated · averages: · currency: · invoices: · firm text: Minden Gross LLP · firm quote: MINDEN GROSS LLP · context quote: Lawyers for the Receiver, The Fuller Landau Group Inc.; form: prose · rows: · money: approximate: false · period: end: 2019-11-05 · kind: invoice · quote: for the period of September 30, 2019 to November 5, 2019 · start: 2019-09-30 · approval: state: unstated · averages: · currency: · invoices: · firm text: Minden Gross LLP · firm quote: MINDEN GROSS LLP · context quote: Lawyers for the Receiver, The Fuller Landau Group Inc.; form: prose · rows: · money: fees: quote: Total fees are $52,447.55 (net of 10% courtesy discount) · amount: 52447.55 · approximate: false · period: kind: unstated · approval: state: unstated · averages: · currency: · invoices: · firm text: Fuller Landau Group Inc. · firm quote: The Fuller Landau Group Inc. · hours total: quote: total hours are 144.26 · value: 144.26 · context quote: Lawyers for the Receiver, The Fuller Landau Group Inc. · discount note: text: net of 10% courtesy discount · quote: net of 10% courtesy discount
- recovery outcomeentries: basis: unstated · quote: HarbourEdge will incur a significant shortfall on the debt owed by Homes, and as a result, there will be no remaining funds available for other creditors. · pct of: unstated · outcome: shortfall · class key: secured · stated by: receiver · class label: HarbourEdge Mortgage Investment Corporation · creditor name: HarbourEdge · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: HarbourEdge will incur a significant shortfall on the debt owed by Homes, and as a result, there will be no remaining funds available for other creditors. · pct of: unstated · outcome: nil · stated by: receiver · class label: other creditors · interim final: unstated · claims qualifier: unstated · table missing: The Statement of Receipts and Disbursements to October 29, 2019 shows funds on hand of $833,524. Accrued professional fees and estimated professional fees to completion (as described below) total approximately $175,773 plus HST of22,689, which totals $198,463 and leaves $655,062 available to distribute to HarbourEdge, net of a total retainer of $20,000 paid to the Receiver and Minden, which assuming there are no additional costs will be available for distribution to HarbourEdge. The estimated funds available for distribution are summarized as follows