Ontario · Receivership (court-appointed)
Second Report of the Receiver dated February 26, 2016 (without appendices)
Court officer report · 26 February 2016
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What we verified from this filing9 verified
- cash on handnote: Residual funds remaining from the sale of Beaverton's assets, to be transferred to Albert Gelman Inc. as Trustee in Bankruptcy. · amount: 1619.62 · currency: CAD · qualifier: approximately
- closing confirmedscope: the Premises · outcome: completed · effective: 2015-08-13 · date basis: stated · approval order date: 2015-08-12
- operational summaryThe Receiver completed the sale of the Company's real property, equipment and inventory, made distributions to secured creditors (TD and, pending approval, CRA), settled a claim with Home Hardware, and believes no further assets remain, seeking its discharge.
- professional feesnote: Amount not stated as a total in the report; includes a final accrual of $3,500 for discharge hearing attendance; counsel Pallett Valo LLP's fees for July 29 to November 29, 2015 also sought for approval with a $4,500 accrual, but no total figures given for either. · party: Receiver (Albert Gelman Inc.) · period: July 16, 2015 to December 31, 2015 · currency: CAD
- purchaserprice: basis: cash · amount: 900000 · sealed: false · scope: the Premises · status: closed · name note: referred to only as "the Purchaser" of the Premises · structure: real_property · name source: recital · relationship: unstated
- recovery outcomeentries: basis: actual · quote: Made a full and final distribution to TD in the amount of $644,141.57; · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: receiver · amount low: 644141.57 · amount high: 644141.57 · class label: TD · creditor name: TD · interim final: final · claims qualifier: unstated · stated on: 2016-02-26 · table missing:
- report date26 February 2016
- report noSecond Report
- sale outcometext: Since its appointment, the Receiver has closed the sale of the Premises as well as the sale of the equipment and inventory of the Company. · scope: whole_business · status: closed