Ontario · Receivership (court-appointed)
Twelfth Report of Receiver (without appendices), dated April 28, 2014
Court officer report · 28 April 2014
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 filing1 verified
- recovery outcomeentries: basis: estimated · quote: The proposed interim distribution contemplates the following: (i) that First Source/Cosman be paid out $2,630,000 in partial satisfaction of its total loan; and · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · amount low: 2630000 · amount high: 2630000 · class label: First Source/Cosman (BBC Property mortgagee) · creditor name: First Source/Cosman · interim final: interim · claims qualifier: unstated; basis: estimated · quote: The proposed interim distribution contemplates the following: (i) that First Source/Cosman be paid $160,000.00 in partial satisfaction of its charge against the Tim Hortons/Wendy's property based on a marshalling of the OWMCO Charge discussed above; and (ii) that the Receiver reserve approximately $41,000 for all claims and costs required to complete the administration of the global receivership, including any general restructuring administrative expenses (' GARE '), with a final distribution to be undertaken once all such amounts are determined. · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · amount low: 160000 · amount high: 160000 · class label: First Source/Cosman (Remo's Ristoronti Property, marshalled against Tim Hortons/Wendy's) · creditor name: First Source/Cosman · interim final: interim · claims qualifier: unstated · stated on: 2014-04-28 · table missing: