Ontario · NOI
Second Report to Court (with appendices) dated June 15, 2020
Court officer report · 15 June 2020
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What we verified from this filing5 verified · 2 withheld
- operational summaryFerrex disclaimed its leased premises and pursued a court-approved sale process for its business and assets on a going-concern basis; no third-party offers were received, and the only bid came from the secured creditor 1199541 (via a credit bid APA), which the Trustee recommends the Court approve to permit an orderly, going-concern sale and timely exit from the NOI proceedings.
- professional feesnote: Includes an accrual of $3,543 for time through closing; fees of $51,882.58, disbursements of $1,700.00, PST of $35.00 and HST of $6,886.73. FR (independent legal counsel) fees separately stated at $46,810.15 (fees $41,328, disbursements $96.92, HST $5,385.23), with a further $10,000 in fees estimated through closing. · party: MNP Ltd. (Proposal Trustee) · amount: 60504.31 · period: March 27, 2020 to June 12, 2020 · currency: CAD
- recovery outcomeentries: basis: unstated · quote: Accordingly, there is insufficient value in the Company's assets to allow for any distribution to unsecured creditors; · pct of: unstated · outcome: nil · class key: unsecured · stated by: proposal_trustee · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated · table missing:
- report date15 June 2020
- report noSecond Report
2 extracted values are withheld: either a trap-shaped field where models produce confident wrong numbers, or an identity value whose quotation could not be found in the document. Withheld values are shown to no one.