Alberta · Receivership (court-appointed)
Receiver's Third Report dated May 30, 2024
Court officer report · 30 May 2024
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 filing8 verified
- cash on handnote: Aggregate receipts in excess of disbursements as at May 30, 2024; also shown as 'CASH BALANCE AT MAY 30, 2024' in Interim SR&D. · as at: 2024-05-30 · amount: 667825.89 · currency: CAD
- disbursementsnote: Total cash disbursements per Interim Statement of Receipts and Disbursements for the period ending May 30, 2024. · since: inception of receivership · amount: 4207025.28 · currency: CAD
- operational summaryThe Receiver continues to administer and wind down the Attainable Units process, handling sales, refinancings, and mortgage extensions for remaining unit owners, and reports on discrepancies with McPherson's figures and unresolved priority disputes between the City and McPherson's Third Mortgages.
- professional feesnote: Includes fees to March 31, 2021 of $177,685 approved by the Administrative Matters Order, and additional fees to April 30, 2023 of $390,392 approved by the Interim Distribution Order; McPherson Brief estimated fees at $700,000. · party: Receiver and its counsel · amount: 706095 · period: since appointment to date of Third Report · currency: CAD
- receipts cumulativenote: Total cash receipts per Interim Statement of Receipts and Disbursements for the period ending May 30, 2024. · since: inception of receivership · amount: 4874851.17 · currency: CAD
- recovery outcomeentries: basis: actual · quote: issuing the Proposed Interim Distribution to the City in the amount of approximately $3.46 million; · pct of: unstated · outcome: distribution · currency: CAD · class key: secured · stated by: receiver · amount low: 3460000 · cumulative: false · amount high: 3460000 · class label: City of Calgary · creditor name: City of Calgary · interim final: interim · currency quote: All references to dollars are in Canadian currency unless otherwise noted. · claims qualifier: unstated; basis: estimated · quote: By combining the amount distributed to date, funds in trust and outstanding BAHS Mortgages (less completed foreclosures), the Receiver estimates a shortfall of approximately $231,340. · pct of: unstated · outcome: shortfall · class key: secured · stated by: receiver · class label: City of Calgary · creditor name: City of Calgary · interim final: unstated · conditional on: This assumes that all outstanding BAHS Mortgage balances are collected in full · claims qualifier: unstated · shortfall amount: 231340 · stated on: 2024-05-30 · table missing:
- report date30 May 2024
- report noThird Report