Ontario · Receivership (court-appointed)
Third Report of the Receiver dated March 19, 2021
Court officer report · 19 March 2021
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What we verified from this filing2 verified
- fee scheduleengagements: form: prose · rows: · money: approximate: false · period: end: 2021-02-28 · kind: cumulative · quote: the Receiver's fees for the period from December 16, 2019 to February 28, 2021 · start: 2019-12-16 · approval: state: unstated · averages: rate: 482.97 · quote: The average hourly rates for KSV and DLA for the referenced billing periods were $482.97 and $607.05, respectively. · scope: KSV · currency: · invoices: · firm text: KSV Restructuring Inc. · firm quote: This report ('Report') is filed by KSV Restructuring Inc. 1 ('KSV') in its capacity as receiver (the 'Receiver') of the property, assets and undertaking of 2145744 Ontario Limited (the 'Company'). · context quote: KSV was appointed Receiver.; form: prose · rows: · money: approximate: false · period: kind: unstated · approval: state: unstated · averages: rate: 607.05 · quote: The average hourly rates for KSV and DLA for the referenced billing periods were $482.97 and $607.05, respectively. · scope: DLA · currency: · invoices: · firm text: DLA · firm quote: The average hourly rates for KSV and DLA for the referenced billing periods were $482.97 and $607.05, respectively. · context unverified: true
- recovery outcomeentries: basis: actual · quote: As reflected on the R&D, the Receiver has distributed $3.25 million to Laurentian. Laurentian will incur a shortfall on its secured debt owing by the Company. · pct of: unstated · outcome: shortfall · currency: CAD · class key: secured · stated by: receiver · class label: Laurentian Bank of Canada · creditor name: Laurentian Bank of Canada · interim final: unstated · currency quote: All currency references in this Report are to Canadian dollars. · claims qualifier: unstated; basis: actual · quote: The Receiver has maintained a holdback to consider Di Cocco's construction lien claim of approximately $67,000. In this regard, the Receiver and Di Cocco have entered into a settlement agreement dated March 18, 2021 pursuant to which the Receiver will pay Di Cocco $10,000 in full and final satisfaction of its lien claim. · pct of: unstated · outcome: distribution · currency: CAD · class key: pmsi_lessor · stated by: receiver · amount low: 10000 · amount high: 10000 · class label: Di Cocco · claims amount: 67000 · creditor name: Di Cocco · interim final: final · currency quote: All currency references in this Report are to Canadian dollars. · claims qualifier: asserted; basis: estimated · quote: Laurentian is projected to incur a shortfall on its advances to the Company and has consented to the Transaction; · pct of: unstated · outcome: shortfall · currency: CAD · class key: secured · stated by: receiver · class label: Laurentian Bank of Canada · creditor name: Laurentian Bank of Canada · interim final: unstated · currency quote: All currency references in this Report are to Canadian dollars. · claims qualifier: unstated · stated on: 2021-03-19 · table missing: