Alberta · Receivership (court-appointed)
Receiver's Third Report dated October 5, 2022
Court officer report · 5 October 2022
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What we verified from this filing10 verified · 1 withheld
- cash on handnote: Estimated Net Funds Available per Final Statement of Receipts and Disbursements, including projected transactions to conclude receivership · amount: 886915 · currency: CAD · qualifier: approximately
- closing confirmedscope: the Manitoba Transaction · outcome: completed · effective: 2022-03-21 · purchaser: 10101906 Manitoba Ltd. · date basis: stated · approval order date: 2022-03-11; scope: the RVO Transaction · outcome: completed · purchaser: Nahanni Resources Ltd. · date basis: unstated · approval order date: 2022-03-11
- fee scheduleengagements: form: invoice_listing · rows: · money: fees: quote: Total Receiver Fees to be approved | 422,904.29 · amount: 422904.29 · approximate: false · period: kind: cumulative · label: the period from December 1, 2021 to Completion · quote: SUMMARY OF PROFESSIONAL FEES FOR THE PERIOD FROM DECEMBER 1, 2021 TO COMPLETION · start: 2021-12-01 · approval: quote: Total Receiver Fees to be approved · state: sought · averages: · currency: · invoices: tax: 1990.87 · fees: 39817.38 · quote: to February 28, 2022 | LABS-3218 | 39,817.38 | - | 39,817.38 | 1,990.87 | 41,808.25 · total: 41808.25 · period end: 2022-02-28; tax: 2596.49 · fees: 51929.78 · quote: to March 31, 2022 | LABS-3239 | 51,929.78 | - | 51,929.78 | 2,596.49 | 54,526.27 · total: 54526.27 · period end: 2022-03-31; tax: 1223.28 · fees: 24465.55 · quote: to April 30, 2022 | LABS-3276 | 24,465.55 | - | 24,465.55 | 1,223.28 | 25,688.83 · total: 25688.83 · period end: 2022-04-30; tax: 782.97 · fees: 15659.45 · quote: to May 31, 2022 | LABS-3307 | 15,659.45 | - | 15,659.45 | 782.97 | 16,442.42 · total: 16442.42 · period end: 2022-05-31; tax: 652.43 · fees: 13048.6 · quote: to June 30, 2022 | LABS-3312 | 13,048.60 | - | 13,048.60 | 652.43 | 13,701.03 · total: 13701.03 · period end: 2022-06-30; tax: 720.38 · fees: 14407.55 · quote: to July 31, 2022 | LABS-3335 | 14,407.55 | - | 14,407.55 | 720.38 | 15,127.93 · total: 15127.93 · period end: 2022-07-31; tax: 439.1 · fees: 8782.03 · quote: to August 31, 2022 | LABS-3358 | 8,782.03 | - | 8,782.03 | 439.10 | 9,221.13 · total: 9221.13 · period end: 2022-08-31; tax: 1597.38 · fees: 31947.52 · quote: to February 28, 2022 | LABS-3217 | 31,947.52 | - | 31,947.52 | 1,597.38 | 33,544.90 · total: 33544.9 · period end: 2022-02-28; tax: 1206.16 · fees: 24123.15 · quote: to March 31, 2022 | LABS-3240 | 24,123.15 | - | 24,123.15 | 1,206.16 | 25,329.31 · total: 25329.31 · period end: 2022-03-31; tax: 125.19 · fees: 2503.8 · quote: to April 30, 2022 | LABS-3277 | 2,503.80 | - | 2,503.80 | 125.19 | 2,628.99 · total: 2628.99 · period end: 2022-04-30; tax: 192.6 · fees: 3852 · quote: to June 30, 2022 | LABS-3313 | 3,852.00 | - | 3,852.00 | 192.60 | 4,044.60 · total: 4044.6 · period end: 2022-06-30 · firm text: Grant Thornton Limited · firm quote: Grant Thornton Limited · context quote: RECEIVER Grant Thornton Limited; form: invoice_listing · rows: · money: approximate: false · period: kind: cumulative · label: the period from December 1, 2021 to Completion · quote: SUMMARY OF PROFESSIONAL FEES FOR THE PERIOD FROM DECEMBER 1, 2021 TO COMPLETION · start: 2021-12-01 · approval: state: unstated · averages: · currency: · invoices: tax: 1742.98 · fees: 34803.5 · quote: to February 28, 2022 | 698087095 | 34,803.50 | 136.00 | 34,939.50 | 1,742.98 | 36,682.48 · total: 36682.48 · period end: 2022-02-28 · disbursements: 136; tax: 1072.89 · fees: 20654.8 · quote: to March 31, 2022 | 698099125 | 20,654.80 | 927.92 | 21,582.72 | 1,072.89 | 22,655.61 · total: 22655.61 · period end: 2022-03-31 · disbursements: 927.92; tax: 428.93 · fees: 8578.5 · quote: to April 30, 2022 | 698113051 | 8,578.50 | - | 8,578.50 | 428.93 | 9,007.43 · total: 9007.43 · period end: 2022-04-30; tax: 7.25 · fees: 145 · quote: to May 31, 2022 | 698122284 | 145.00 | - | 145.00 | 7.25 | 152.25 · total: 152.25 · period end: 2022-05-31; tax: 50.75 · fees: 1015 · quote: to July 31, 2022 | 698141017 | 1,015.00 | - | 1,015.00 | 50.75 | 1,065.75 · total: 1065.75 · period end: 2022-07-31; tax: 221.5 · fees: 4430 · quote: to August 31, 2022 | 698151428 | 4,430.00 | - | 4,430.00 | 221.50 | 4,651.50 · total: 4651.5 · period end: 2022-08-31 · firm text: Borden Ladner Gervais LLP · firm quote: COUNSEL Borden Ladner Gervais LLP · context quote: total fees and costs for BLG for the period from February 1, 2022, to August 31, 2022, of $134,853, plus applicable taxes
- operational summaryThe Receiver has completed the sale of the Manitoba oil and gas assets and the reverse vesting transaction transferring residual assets/liabilities to the Elcano Asset Residual Trust; regulatory (AER) requirements have largely been satisfied, and the receivership is substantially complete pending final distribution and discharge.
- professional feesnote: Plus applicable taxes; of which $62,426 related to RVO Transaction. BLG fees for same period were $134,853 plus taxes, and FR fees for the receivership proceedings were $8,039. · party: Receiver (Grant Thornton Limited) · amount: 230537 · period: February 1, 2022 to August 31, 2022 · currency: CAD
- purchaser10101906 Manitoba Ltd.; Nahanni Resources Ltd.
- receipts cumulativenote: Figure from Final Statement of Receipts and Disbursements, which includes an estimate of projected transactions to conclude the receivership · since: over the course of the receivership · amount: 1649024 · currency: CAD
- recovery outcomeentries: basis: estimated · quote: The potential recovery for the Residual Trust from the Subsidy Claims is significantly less than Tallinn's shortfall on its first-ranking secured claim in these proceedings. · pct of: unstated · outcome: shortfall · class key: secured · stated by: receiver · class label: Tallinn (first-ranking secured claim) · creditor name: Tallinn · interim final: unstated · claims qualifier: unstated · stated on: 2022-10-05 · table missing:
- report date5 October 2022
- report noThird Report
1 extracted value is withheld: either a trap-shaped field where models produce confident wrong numbers, or an identity value whose quotation could not be found in the document. Withheld values are shown to no one.