Ontario · Receivership (court-appointed)
Motion Record, returnable September 30, 2020
Application / notice of application · 30 September 2020
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What we verified from this filing8 verified
- applicantONTARIO SECURITIES COMMISSION
- appointeeBDO Canada Limited (formerly BDO Dunwoody Limited)
- appointee roleReceiver and Manager
- courtSUPERIOR COURT OF JUSTICE (COMMERCIAL LIST)
- court file no01-CL-4192
- provinceONTARIO
- fee scheduleengagements: form: prose · rows: · money: fees: quote: the fees of the Receiver in the amount of $341,740.80 plus applicable GST/HST for the period from November 4, 2004 to July 31, 2020 · amount: 341740.8 · approximate: false · period: end: 2020-07-31 · kind: final · quote: for the period from November 4, 2004 to July 31, 2020 · start: 2004-11-04 · approval: quote: THIS COURT ORDERS that the fees of the Receiver in the amount of $341,740.80 plus applicable GST/HST for the period from November 4, 2004 to July 31, 2020 · state: approved · averages: · currency: · invoices: · firm text: BDO Canada Limited · firm quote: Counsel for BDO Canada Limited (formerly BDO Dunwoody Limited), in its capacity as Receiver and Manager of Buckingham Securities Corporation · context quote: in its capacity as Receiver and Manager of Buckingham Securities Corporation; form: prose · rows: · money: fees: quote: the fees of the Receiver's counsel Blakes in the amount of $708,412.51, plus HST, for the period from October 1, 2004 to July 31, 2020 · amount: 708412.51 · approximate: false · period: end: 2020-07-31 · kind: final · quote: for the period from October 1, 2004 to July 31, 2020 · start: 2004-10-01 · approval: quote: THIS COURT ORDERS that the fees of the Receiver's counsel Blakes in the amount of $708,412.51, plus HST, for the period from October 1, 2004 to July 31, 2020 and the fees and disbursements of Blakes to complete Blakes' remaining work · state: approved · averages: · currency: · invoices: · firm text: Blake, Cassels & Graydon LLP · firm quote: BLAKE, CASSELS & GRAYDON LLP · context quote: the Receiver's counsel Blakes; form: prose · rows: · money: fees: quote: the fees of the Receiver's counsel McCarthy Tetrault in the amount of $16,182.78, plus HST, for the period from July 2007 to January 2011 · amount: 16182.78 · approximate: false · period: end: 2011-01-31 · kind: final · quote: for the period from July 2007 to January 2011 · start: 2007-07-01 · approval: quote: THIS COURT ORDERS that the fees of the Receiver's counsel McCarthy Tetrault in the amount of $16,182.78, plus HST, for the period from July 2007 to January 2011, be and hereby are approved. · state: approved · averages: · currency: · invoices: · firm text: McCarthy Tetrault · firm quote: the Receiver's counsel McCarthy Tetrault · context quote: the Receiver's counsel McCarthy Tetrault; form: prose · rows: · money: fees: quote: the fees and disbursements of the Receiver's counsel Lax O'Sullivan in the amount of $103,485.35, plus HST, for the period of August 2006 through to and including January 2013 · amount: 103485.35 · approximate: false · period: end: 2013-01-31 · kind: final · quote: for the period of August 2006 through to and including January 2013 · start: 2006-08-01 · approval: quote: THIS COURT ORDERS that the fees and disbursements of the Receiver's counsel Lax O'Sullivan in the amount of $103,485.35, plus HST, for the period of August 2006 through to and including January 2013, be and hereby are approved. · state: approved · averages: · currency: · invoices: · firm text: Lax O'Sullivan · firm quote: the Receiver's counsel Lax O'Sullivan · context quote: the Receiver's counsel Lax O'Sullivan
- recovery outcomeentries: basis: actual · quote: The Receiver and its advisors used their best efforts to value the portfolio, and on February 23, 2005, paid a dividend of $2,203,425.93 to 550 clients of Buckingham. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: receiver · amount low: 2203425.93 · amount high: 2203425.93 · class label: customers of Buckingham · interim final: unstated · claims qualifier: unstated; basis: actual · quote: After the completion of the 2005 Claims Bar Process, the Receiver in August 2005 advised OCF that the Receiver had determined customer claims to total $10,566,319.27, and that an interim distribution of $2,347,096.42 had meanwhile been paid to the customers by the Receiver. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: receiver · amount low: 2347096.42 · amount high: 2347096.42 · class label: customers of Buckingham · claims amount: 10566319.27 · interim final: interim · claims qualifier: unstated; basis: actual · quote: Accordingly, the customers' deficiency stood at $8,209,222.85. · pct of: unstated · outcome: shortfall · class key: unsecured · stated by: receiver · class label: customers of Buckingham · claims amount: 10566319.27 · interim final: unstated · claims qualifier: unstated · shortfall amount: 8209222.85; basis: actual · quote: From these funds, in February 2005 an interim dividend of $2,203,552.86 was paid to the customers of Buckingham, net of a number of payments which could not be made because addresses could not be found for certain customers, and a number of cheques to customers, which were returned in the mail as undeliverable, or otherwise were not cashed by the payees. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: receiver · amount low: 2203552.86 · amount high: 2203552.86 · class label: customers of Buckingham · interim final: interim · claims qualifier: unstated · stated on: 2020-09-08 · table missing: