Alberta · Receivership (court-appointed)
Receiver's First Report to Court
Court officer report · 17 June 2024
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 filing6 verified
- secured creditorsnote: Deemed trust claim; $2,737.11 of the $3,062.40 total represents the deemed trust portion. No GST claim received to date. In the Feb 20, 2024 Notice and Statement, CRA's balance was shown as an unknown placeholder of $1.00 (footnote: balances unknown reflected as $1.00). · page: 13 · as of: trust examination completion date (undated) · amount: 3062.4 · debtor: 2093924 Ontario Inc. (Wash Factory) · creditor: Canada Revenue Agency · currency: CAD · security: Listed as a creditor holding a security interest in the Notice and Statement of Receiver (deemed trust claim following payroll/GST trust examination)
- secured creditorsnote: Priority/municipal tax claim. In the Feb 20, 2024 Notice and Statement, balance was shown as an unknown placeholder of $1.00 (footnote: balances unknown reflected as $1.00); exact figure from property tax search dated Feb 28, 2024 supersedes. · page: 13 · as of: 2024-02-28 · amount: 78.49 · debtor: 2093924 Ontario Inc. (Wash Factory) · creditor: City of Edmonton (Property Tax) · currency: CAD · security: Municipal property tax lien; listed as a creditor holding a security interest in the Notice and Statement of Receiver
- secured creditorsnote: Updated payout figure provided by BMO on or around Feb 16, 2024. Earlier balances of record: $5,612,235.08 per Dec 6, 2023 Affidavit of Ed Barrington, and $5,733,412.28 listed as an estimate in the Feb 20, 2024 Notice and Statement of Receiver. · page: 14 · as of: 2024-02-16 · amount: 5773412.23 · debtor: 2093924 Ontario Inc. (Wash Factory) · creditor: Bank of Montreal · currency: CAD · security: General Security Agreement dated in/around December 2020 over all present and after-acquired real and personal property (PPR registration December 18, 2020); Collateral Mortgage dated December 19, 2020 registered against title to the Property (Land Title Certificate shows registration no. 212 014 093, registered 16/01/2021) in original principal amount of $6,005,000. Receiver's counsel confirmed security valid, enforceable and first-position.
- financial positionnote: Total secured-creditor claims separately estimated at $5,733,415.28 (as of Feb 20, 2024, per same Notice and Statement); this figure does not equate to total liabilities as it excludes unsecured creditors listed in Exhibit 'A' to the Notice and Statement, which was not among the reviewed pages. · page: 18 · as at: 2024-02-15 · basis: Estimate per Notice and Statement of Receiver: Real Property, Chattels and Equipment valued at net book value from 2023 year-end financial statements; Accounts Receivable estimated from current in-house financial statements · scope: 2093924 Ontario Inc. (dba Wash Factory) - property and undertakings subject to receivership · currency: CAD · total assets: 7334331
- secured creditorsnote: Balance unknown to Receiver as of Feb 20, 2024; reflected in Notice and Statement as a placeholder of $1.00 per footnote ("where current balances (if any) are unknown an amount of $1.00 has been reflected"). No further detail provided in reviewed pages. · page: 20 · as of: 2024-02-20 · debtor: 2093924 Ontario Inc. (Wash Factory) · creditor: John Deere Financial Inc. · currency: CAD · security: Listed as a creditor holding a security interest in the property described in the Notice and Statement of Receiver
- fee scheduleengagements: form: invoice_listing · rows: · money: tax: label: GST · quote: Totals | 29,997.50 | 189.30 | 1,507.05 | 31,693.85 · amount: 1507.05 · fees: quote: Totals | 29,997.50 | 189.30 | 1,507.05 | 31,693.85 · amount: 29997.5 · total: quote: Totals | 29,997.50 | 189.30 | 1,507.05 | 31,693.85 · amount: 31693.85 · includes tax: true · includes disbursements: true · approximate: false · disbursements: quote: Totals | 29,997.50 | 189.30 | 1,507.05 | 31,693.85 · amount: 189.3 · period: kind: invoice · approval: state: unstated · averages: · currency: · invoices: tax: 191.45 · date: 2024-04-30 · fees: 3829 · quote: 4002952 | 30-Apr-24 | 3,829.00 | | 191.45 | 4,020.45 · total: 4020.45; tax: 1315.6 · date: 2024-03-31 · fees: 26168.5 · quote: 399341 | 31/03/2024 | 26,168.50 | 189.30 | 1,315.60 | 27,673.40 · total: 27673.4 · disbursements: 189.3 · firm text: Miller Thomson LLP · firm quote: Summary of Legal Fees - Miller Thomson LLP · context quote: Solicitors for the Receiver, MNP Ltd.