Nova Scotia · NOI
Third Report of the Proposal Trustee dated February 9, 2026
Court officer report · 9 February 2026
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 filing5 verified
- fee scheduleengagements: form: prose · rows: · money: tax: label: HST · quote: with HST of $14,941.27 · amount: 14941.27 · fees: quote: total fees amounted to $105,655.00 · amount: 105655 · total: quote: for a total of $121,664.61 · amount: 121664.61 · includes tax: true · includes disbursements: true · approximate: false · disbursements: quote: with expenses of $1,068.34 · amount: 1068.34 · period: kind: unstated · approval: state: unstated · averages: rate: 346.98 · quote: At an average rate of approximately $346.98/hour · currency: · invoices: · firm text: Grant Thornton Limited · firm quote: THIRD REPORT TO THE COURT SUBMITTED BY GRANT THORNTON LIMITED IN ITS CAPACITY AS PROPOSAL TRUSTEE · context quote: IN ITS CAPACITY AS PROPOSAL TRUSTEE; form: prose · rows: · money: fees: quote: total fees amounted to $28,158.50 · amount: 28158.5 · total: quote: for a total of $34,752.74 · amount: 34752.74 · includes tax: true · includes disbursements: true · approximate: false · disbursements: quote: with expenses of $83.99 · amount: 83.99 · period: kind: unstated · approval: state: unstated · averages: rate: 526.33 · quote: At an average rate of approximately $526.33/hour · currency: · invoices: · firm text: McInnes Cooper · firm quote: Appendix P - McInnes Cooper Fee Summary and Invoices · context quote: Appendix P - McInnes Cooper Fee Summary and Invoices
- process resultsnote: 331 total Interested Parties contacted; SISP also advertised via allNovaScotia and Insolvency Insider; 342 interested parties figure mentioned within Confidential Report reference · as of: 2026-02-09 · solicited: 331
- purchaser3 230351 Nova Scotia Limited; Marchand Developments Ltd.
- recovery outcomeentries: basis: estimated · quote: | Creditor Description Amount Manulife Secured creditor $6,262,328.88 Municipality of West Hants Outstanding property taxes 71,383.97 Administration Charge Professional fees for NOI 250,000.00 Post-NOI expenses Suppliers not paid prior to closing 25,000.00 Estimated Distributions per Partial Distribution Order $6,608,712.85 | · pct of: unstated · outcome: distribution · class key: secured · stated by: proposal_trustee · amount low: 6262328.88 · amount high: 6262328.88 · class label: Manulife · creditor name: Manulife · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: | Creditor Description Amount Manulife Secured creditor $6,262,328.88 Municipality of West Hants Outstanding property taxes 71,383.97 Administration Charge Professional fees for NOI 250,000.00 Post-NOI expenses Suppliers not paid prior to closing 25,000.00 Estimated Distributions per Partial Distribution Order $6,608,712.85 | · pct of: unstated · outcome: distribution · class key: preferred · stated by: proposal_trustee · amount low: 71383.97 · amount high: 71383.97 · class label: Municipality of West Hants · claims amount: 71383.97 · creditor name: Municipality of West Hants · interim final: unstated · claims qualifier: unstated · stated on: 2026-02-09 · table missing:
- sale outcometext: The Proposal Trustee selected 323 as the Successful Bidder and Marchand Developments as the Back-up Bidder, pending Court approval of the Sale Transaction · scope: whole_business · status: pending_approval