Ontario · Proposal
First Report (with appendices)
Court officer report · 11 December 2020
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What we verified from this filing5 verified
- financial positionnote: Aggregate net book value of approximately $13MM as at December 31, 2019 for the building structures under construction and land; no total liabilities stated · page: 7 · as at: 2019-12-31 · basis: draft unaudited financial statements of 33 Laird Limited Partnership; net book value · scope: 33 Laird Limited Partnership (principal assets: building structures under construction and land) · currency: CAD · total assets: 13000000
- secured creditorsnote: Current indebtedness as understood by Proposal Trustee; portion of loan syndicated to Centurion; per PPSA registry search (file currency date December 8, 2020) and Parcel Register dated December 8, 2020 · page: 8 · as of: December 8, 2020 · amount: 9789000 · debtor: 33 Laird Group (INC/GP/LP) · creditor: DUCA Financial Services Credit Union Ltd. · currency: CAD · security: Mortgage charge on real property underlying the Project in the amount of $22MM (registered principal); personal property charge over all of INC's chattels except consumer goods; personal property charge over all of LP's accounts and other
- secured creditorsnote: Current indebtedness as understood by Proposal Trustee · page: 8 · as of: December 8, 2020 · amount: 3214000 · debtor: 33 Laird Group (INC/GP/LP) · creditor: Centurion Mortgage Capital Corporation · currency: CAD · security: Syndicated portion of DUCA-originated secured loan
- secured creditorsnote: Related party: BPII and Sealink are LP Partners (limited partners) of 33 Laird LP; amount claimed by BPII and Sealink as mortgagees is disputed - not accepted by all partners and not yet accepted by the 33 Laird Group; validity/enforceability opinion from WFK still pending · page: 8 · amount: 5200000 · debtor: 33 Laird Group (INC/GP/LP) · creditor: Beaux Properties International Inc. (BPII) and Sealink JV Ltd (Sealink), in Trust · currency: CAD · security: Second-ranking mortgage on real property underlying the Project
- secured creditorsnote: Potential priority claim under Ontario Construction Act; supplier to the Project · page: 9 · amount: 113336 · debtor: 33 Laird Group (INC/GP/LP) · creditor: Maxxwel & Co. Inc. · currency: CAD · security: Registered construction lien on real property underlying the Project