Alberta · Receivership (court-appointed)
Receiver's Third and Final Report dated October 9, 2020
Court officer report · 9 October 2020
A plain-language read of this filing opens with a subscription.
What we verified from this filing10 verified
- closing confirmedscope: the real estate owned by Group · outcome: completed · effective: 2019-08-27 · purchaser: Kenroc Holdings Ltd. · date basis: stated
- fee scheduleengagements: form: invoice_listing · rows: · money: total: quote: Grand Total 461,582.00 23,794.24 485,376.24 24,268.88 509,645.12 · amount: 509645.12 · includes tax: true · includes disbursements: true · approximate: false · period: end: 2020-09-15 · kind: cumulative · quote: Summary of Receiver's Invoices · start: 2018-10-24 · approval: state: unstated · averages: · currency: · invoices: tax: 897.54 · fees: 17096 · quote: 138701194 | October 24 - November 15, 2018 | 17,096.00 | 854.80 | 17,950.80 | 897.54 | 18,848.34 · total: 18848.34 · period end: 2018-11-15 · period start: 2018-10-24 · disbursements: 854.8; tax: 306.26 · fees: 5833.5 · quote: 139700085 | November 16, 2018 - January 15, 2019 | 5,833.50 | 291.68 | 6,125.18 | 306.26 | 6,431.44 · total: 6431.44 · period end: 2019-01-15 · period start: 2018-11-16 · disbursements: 291.68; tax: 230.21 · fees: 4385 · quote: 139700386 | January 16 - March 15, 2019 | 4,385.00 | 219.25 | 4,604.25 | 230.21 | 4,834.46 · total: 4834.46 · period end: 2019-03-15 · period start: 2019-01-16 · disbursements: 219.25; tax: 914.48 · fees: 17418.5 · quote: 139700600 | March 16 - May 15, 2019 | 17,418.50 | 870.93 | 18,289.43 | 914.48 | 19,203.91 · total: 19203.91 · period end: 2019-05-15 · period start: 2019-03-16 · disbursements: 870.93; tax: 976.9 · fees: 18607.5 · quote: 139700787 | May 16 - June 15, 2019 | 18,607.50 | 930.38 | 19,537.88 | 976.90 | 20,514.78 · total: 20514.78 · period end: 2019-06-15 · period start: 2019-05-16 · disbursements: 930.38; tax: 410.16 · fees: 7812.5 · quote: 139700890 | June 16 - July 15, 2019 | 7,812.50 | 390.60 | 8,203.10 | 410.16 | 8,613.26 · total: 8613.26 · period end: 2019-07-15 · period start: 2019-06-16 · disbursements: 390.6; tax: 362.99 · fees: 6914 · quote: 139700971 | July 16 - August 15, 2019 | 6,914.00 | 345.70 | 7,259.70 | 362.99 | 7,622.69 · total: 7622.69 · period end: 2019-08-15 · period start: 2019-07-16 · disbursements: 345.7; tax: 162.23 · fees: 3090 · quote: 139701244 | August 16 - October 15, 2019 | 3,090.00 | 154.50 | 3,244.50 | 162.23 | 3,406.73 · total: 3406.73 · period end: 2019-10-15 · period start: 2019-08-16 · disbursements: 154.5; tax: 312.59 · fees: 5954 · quote: 140700089 | October 16 - December 15, 2019 | 5,954.00 | 297.70 | 6,251.70 | 312.59 | 6,564.29 · total: 6564.29 · period end: 2019-12-15 · period start: 2019-10-16 · disbursements: 297.7; tax: 400.63 · fees: 7626 · quote: 140700261 | December 16, 2019 - February 15, 2020 | 7,626.00 | 386.66 | 8,012.66 | 400.63 | 8,413.29 · total: 8413.29 · period end: 2020-02-15 · period start: 2019-12-16 · disbursements: 386.66; tax: 299.07 · fees: 5590 · quote: 140700404 | February 16 - March 15, 2020 | 5,590.00 | 391.30 | 5,981.30 | 299.07 | 6,280.37 · total: 6280.37 · period end: 2020-03-15 · period start: 2020-02-16 · disbursements: 391.3; tax: 388.2 · fees: 7256 · quote: 140700901 | March 16 - June 15, 2020 | 7,256.00 | 507.92 | 7,763.92 | 388.20 | 8,152.12 · total: 8152.12 · period end: 2020-06-15 · period start: 2020-03-16 · disbursements: 507.92; tax: 664.68 · fees: 12424 · quote: 140707403 | June 16 - September 15, 2020 | 12,424.00 | 869.68 | 13,293.68 | 664.68 | 13,958.36 · total: 13958.36 · period end: 2020-09-15 · period start: 2020-06-16 · disbursements: 869.68 · firm text: PricewaterhouseCoopers Inc. · firm quote: THIRD AND FINAL REPORT TO THE COURT SUBMITTED BY PRICEWATERHOUSECOOPERS INC. IN ITS CAPACITY AS RECEIVER · context quote: IN ITS CAPACITY AS RECEIVER; form: invoice_listing · rows: · money: total: quote: 44,232.85 | 2,202.25 | 46,435.10 · amount: 46435.1 · includes tax: true · includes disbursements: true · approximate: false · period: end: 2019-07-31 · kind: invoice · quote: Summary of Legal Fees Economy Landscape Contractors Ltd. - In Receivership · start: 2018-10-31 · approval: state: unstated · averages: · currency: · invoices: tax: 203.19 · date: 2018-10-31 · quote: 190933 | October 31, 2018 | 4,103.80 | 203.19 | 4,306.99 · total: 4306.99; tax: 340.03 · date: 2018-11-30 · quote: 192151 | November 30, 2018 | 6,850.64 | 340.03 | 7,190.67 · total: 7190.67; tax: 169.8 · date: 2018-12-31 · quote: 193445 | December 31, 2018 | 3,400.93 | 169.80 | 3,570.73 · total: 3570.73; tax: 65.09 · date: 2019-01-30 · quote: 194281 | January 30, 2019 | 1,301.87 | 65.09 | 1,366.96 · total: 1366.96; tax: 39.07 · date: 2019-02-28 · quote: 195579 | February 28, 2019 | 781.37 | 39.07 | 820.44 · total: 820.44; tax: 918.4 · date: 2019-04-16 · quote: 197261 | April 16, 2019 | 18,418.07 | 918.40 | 19,336.47 · total: 19336.47; tax: 131.36 · date: 2019-04-16 · quote: 197263 re: Beck | April 16, 2019 | 2,670.20 | 131.36 | 2,801.56 · total: 2801.56; tax: 23.73 · date: 2019-05-15 · quote: 198369 re: Beck | May 15, 2019 | 474.50 | 23.73 | 498.23 · total: 498.23; tax: 273.13 · date: 2019-05-28 · quote: 198766 | May 28, 2019 | 5,462.55 | 273.13 | 5,735.68 · total: 5735.68; tax: 38.45 · date: 2019-07-31 · quote: 201361 | July 31, 2019 | 768.92 | 38.45 | 807.37 · total: 807.37 · firm text: Reynolds Mirth Richards & Farmer LLP · firm quote: REYNOLDS MIRTH RICHARDS & FARMER LLP · context quote: Summary of Legal Fees Economy Landscape Contractors Ltd. - In Receivership; form: invoice_listing · rows: · money: total: quote: 19,925.24 | 996.27 | 20,921.51 · amount: 20921.51 · includes tax: true · includes disbursements: true · approximate: false · period: end: 2019-12-31 · kind: invoice · quote: Summary of Legal Fees Economy Landscape Contractors Ltd. - In Receivership · start: 2018-11-30 · approval: state: unstated · averages: · currency: · invoices: tax: 977.15 · date: 2018-11-30 · quote: 493688 | November 30, 2018 | 19,542.84 | 977.15 | 20,519.99 · total: 20519.99; tax: 19.12 · date: 2019-12-31 · quote: 538557 | December 31, 2019 | 382.40 | 19.12 | 401.52 · total: 401.52 · firm text: Field · firm quote: Field · context quote: Summary of Legal Fees Economy Landscape Contractors Ltd. - In Receivership; form: invoice_listing · rows: · money: total: quote: 25,439.14 | 1,268.22 | 26,707.36 · amount: 26707.36 · includes tax: true · includes disbursements: true · approximate: false · period: end: 2020-08-27 · kind: invoice · quote: Summary of Legal Fees Economy Landscape Group Ltd. - In Receivership · start: 2019-06-27 · approval: state: unstated · averages: · currency: · invoices: tax: 89.42 · date: 2019-06-27 · quote: 199902 | June 27, 2019 | 1,788.42 | 89.42 | 1,877.84 · total: 1877.84; tax: 564.15 · date: 2019-09-01 · quote: 202474 | September 1, 2019 | 11,333.05 | 564.15 | 11,897.20 · total: 11897.2; tax: 180.3 · date: 2019-09-30 · quote: 203375 | September 30, 2019 | 3,630.92 | 180.30 | 3,811.22 · total: 3811.22; tax: 35.86 · date: 2019-10-30 · quote: 204436 | October 30, 2019 | 717.25 | 35.86 | 753.11 · total: 753.11; tax: 18.27 · date: 2019-11-29 · quote: 205900 | November 29, 2019 | 365.35 | 18.27 | 383.62 · total: 383.62; tax: 202.2 · date: 2019-12-30 · quote: 207042 | December 30, 2019 | 4,043.95 | 202.20 | 4,246.15 · total: 4246.15; tax: 20.2 · date: 2020-03-30 · quote: 210682 | March 30, 2020 | 404.05 | 20.20 | 424.25 · total: 424.25; tax: 39.78 · date: 2020-04-29 · quote: 211944 | April 29, 2020 | 795.55 | 39.78 | 835.33 · total: 835.33; tax: 51.59 · date: 2020-05-29 · quote: 212953 | May 29, 2020 | 1,031.70 | 51.59 | 1,083.29 · total: 1083.29; tax: 40.36 · date: 2020-07-29 · quote: 214999 | July 29, 2020 | 807.10 | 40.36 | 847.46 · total: 847.46; tax: 26.09 · date: 2020-08-27 · quote: 216046 | August 27, 2020 | 521.80 | 26.09 | 547.89 · total: 547.89 · firm text: Reynolds Mirth Richards & Farmer LLP · firm quote: REYNOLDS MIRTH RICHARDS & FARMER LLP · context quote: Summary of Legal Fees Economy Landscape Group Ltd. - In Receivership; form: invoice_listing · rows: · money: total: quote: 3,196.44 | 159.83 | 3,356.27 · amount: 3356.27 · includes tax: true · includes disbursements: true · approximate: false · period: end: 2019-04-30 · kind: invoice · quote: Summary of Legal Fees Economy Landscape Group Ltd. - In Receivership · start: 2018-12-31 · approval: state: unstated · averages: · currency: · invoices: tax: 86.64 · date: 2018-12-31 · quote: 497823 | December 31, 2018 | 1,732.74 | 86.64 | 1,819.38 · total: 1819.38; tax: 73.19 · date: 2019-04-30 · quote: 510038 | April 30, 2019 | 1,463.70 | 73.19 | 1,536.89 · total: 1536.89 · firm text: Field · firm quote: Field · context quote: Summary of Legal Fees Economy Landscape Group Ltd. - In Receivership
- operational summaryThe receivership is essentially complete: all assets of both Contractors and Group have been realized, priority and secured creditor claims paid, and a shareholder litigation settlement reached; the Receiver is now seeking court approval of distributions, fee approval, and its own discharge subject to completion of remaining administrative duties.
- professional feesnote: Fees stated separately for each entity, not summed: PwC's fees as Receiver of Contractors were $341,575.00 (plus disbursements $17,283.14 and GST $17,942.94, total $376,801.08); PwC's fees as Receiver of Group were $120,007.00 (plus disbursements $6,511.10 and GST $6,325.94, total $132,844.04). Legal counsel RMRF and Field fees also stated separately. · party: Receiver (PwC) · period: October 26, 2018 to September 15, 2020 · currency: CAD
- purchaserKenroc Holdings Ltd.; Century Services Corp.
- recovery outcomeentries: basis: actual · quote: the Receiver paid the outstanding TD equipment loan totaling $29,130.93 in full. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: receiver · amount low: 29130.93 · amount high: 29130.93 · class label: TD Bank Equipment Loan · creditor name: TD Bank · interim final: unstated · related party: false · claims qualifier: unstated; basis: actual · quote: the Receiver paid the outstanding mortgage balance due to TD Bank totaling $780,834.45. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: receiver · amount low: 780834.45 · amount high: 780834.45 · class label: TD Bank Mortgage · creditor name: TD Bank · interim final: unstated · related party: false · claims qualifier: unstated; basis: actual · quote: The Receiver subsequently paid CRA's deemed trust claim in full. · pct of: unstated · outcome: paid_in_full · class key: deemed_trust · stated by: receiver · class label: CRA Deemed Trust Claim · claims amount: 596103.29 · creditor name: CRA · interim final: unstated · claims qualifier: unstated; basis: actual · quote: On March 8, 2019, the Receiver paid CRA's GST claim in full. · pct of: unstated · outcome: paid_in_full · class key: deemed_trust · stated by: receiver · class label: CRA GST Claim · claims amount: 143908.08 · creditor name: CRA · interim final: unstated · claims qualifier: unstated; basis: actual · quote: the Receiver paid the full amount due to TD Bank in respect of Contractors' operating line totaling approximately $280,000, net of post receivership advances. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: receiver · amount low: 280000 · amount high: 280000 · class label: TD Bank Operating Line · creditor name: TD Bank · interim final: unstated · related party: false · claims qualifier: unstated; basis: actual · quote: all outstanding employee wages, vacation pay, expenses and termination pay were paid in full by the Receiver. · pct of: unstated · outcome: paid_in_full · class key: weppa · stated by: receiver · class label: Employee Claims/Section 81.4 Limited Super Priority/WEPPA · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: there will be an estimated shortfall to Group in respect of their secured claim in the approximate amount of $3.1 million. · pct of: unstated · outcome: shortfall · class key: secured · stated by: receiver · class label: Group Secured Claim (as against Contractors) · claims amount: 3855354 · creditor name: Economy Landscape Group Ltd. · interim final: unstated · claims qualifier: unstated · shortfall amount: 3100000; basis: unstated · quote: Accordingly, there will be no distribution to the unsecured creditors of Contractors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: receiver · class label: Unsecured Creditors of Contractors · claims amount: 1600000 · interim final: unstated · claims qualifier: listed; basis: unstated · quote: Joco will be paid the Joco Cash Settlement ($345,000.00); · pct of: unstated · outcome: paid_in_full · class key: unsecured · stated by: receiver · amount low: 345000 · amount high: 345000 · class label: Joco Cash Settlement · creditor name: Joco · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: The distribution in respect of these claims total $4,138,862.47 (the ' Unsecured Creditor Distribution '). · pct of: unstated · outcome: distribution · class key: equity · stated by: receiver · amount low: 4138862.47 · amount high: 4138862.47 · class label: Unsecured Creditors of Group (Stavropoulos PC, Field, Promissory Notes, Shareholder Loans, Joco Cash Settlement) · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: This distribution is estimated to total approximately $4,463,000 (the ' Shareholder Distribution '). · pct of: unstated · outcome: distribution · class key: equity · stated by: receiver · amount low: 4463000 · amount high: 4463000 · class label: Shareholders of Group · interim final: unstated · claims qualifier: unstated · stated on: 2020-10-09 · table missing:
- report date9 October 2020
- report noThird and Final Report
- sale advisorCentury Services Corp.; Omada Commercial
- sale outcometext: the sale of the Company's real estate and equipment/fixed assets have both closed · scope: whole_business · status: closed