Ontario · Receivership (court-appointed)
Motion record of the Receiver (for motion returnable May 6, 2024)
Application / notice of application · 6 May 2024
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What we verified from this filing2 verified
- fee scheduleengagements: form: prose · rows: · money: fees: quote: for a total of $41,307 and applicable taxes · amount: 41307 · approximate: true · period: kind: unstated · approval: state: unstated · averages: rate: 432.99 · quote: 94.5 hours at an average hourly rate of approximately $432.99 for a total of $41,307 and applicable taxes · currency: · invoices: · firm text: Albert Gelman Inc. · firm quote: Albert Gelman Inc. ('Gelman Inc.') in its capacity as the Court-appointed receiver · hours total: quote: 94.5 hours at an average hourly rate of approximately $432.99 · value: 94.5 · context quote: Albert Gelman Inc. ('Gelman Inc.') in its capacity as the Court-appointed receiver (in such capacity, the 'Receiver'); form: prose · rows: · money: fees: quote: total fees of $46,476.96 · amount: 46476.96 · total: quote: accounts totalling $52,464.83 inclusive of disbursements and applicable taxes · amount: 52464.83 · includes tax: true · includes disbursements: true · approximate: true · period: kind: unstated · approval: state: unstated · averages: rate: 671.63 · quote: Garfinkle Biderman fees encompass 69.2 hours at an average hourly rate of approximately $671.63 · currency: · invoices: · firm text: Garfinkle Biderman · firm quote: Garfinkle Biderman fees encompass 69.2 hours at an average hourly rate of approximately $671.63 · hours total: quote: 69.2 hours at an average hourly rate of approximately $671.63 · value: 69.2 · context quote: Garfinkle Biderman fees encompass 69.2 hours at an average hourly rate of approximately $671.63 for total fees of $46,476.96 and accounts totalling $52,464.83 inclusive of disbursements and applicable taxes.; form: prose · rows: · money: fees: quote: total fees of $4,532.00 · amount: 4532 · total: quote: accounts totalling $5,228.02 inclusive of disbursements and applicable taxes · amount: 5228.02 · includes tax: true · includes disbursements: true · approximate: true · period: kind: unstated · approval: state: unstated · averages: rate: 539.52 · quote: fees encompass 8.4 hours at an average hourly rate of approximately $539.52 · currency: · invoices: · hours total: quote: 8.4 hours at an average hourly rate of approximately $539.52 · value: 8.4 · context quote: fees encompass 8.4 hours at an average hourly rate of approximately $539.52 for total fees of $4,532.00 and accounts totalling $5,228.02 inclusive of disbursements and applicable taxes. · firm unverified: true; form: prose · rows: · money: fees: quote: for a total of $67,358.50 and applicable taxes · amount: 67358.5 · approximate: true · period: kind: cumulative · approval: state: unstated · averages: rate: 411 · quote: 163.8 hours at an average hourly rate of approximately $411 for a total of $67,358.50 and applicable taxes · currency: · invoices: · firm text: Albert Gelman Inc. · firm quote: Albert Gelman Inc. ('Gelman Inc.') in its capacity as the Court-appointed receiver · hours total: quote: 163.8 hours at an average hourly rate of approximately $411 · value: 163.8 · context quote: 163.8 hours at an average hourly rate of approximately $411 for a total of $67,358.50 and applicable taxes.; form: prose · rows: · money: fees: quote: total fees of $29,298.50 · amount: 29298.5 · total: quote: accounts totalling $33,605.01 inclusive of disbursements and applicable taxes · amount: 33605.01 · includes tax: true · includes disbursements: true · approximate: true · period: kind: cumulative · approval: state: unstated · averages: rate: 674 · quote: Garfinkle Biderman fees encompass 43.5 hours at an average hourly rate of approximately $674 · currency: · invoices: · firm text: Garfinkle Biderman · firm quote: Garfinkle Biderman fees encompass 43.5 hours at an average hourly rate of approximately $674 · hours total: quote: 43.5 hours at an average hourly rate of approximately $674 · value: 43.5 · context quote: Garfinkle Biderman fees encompass 43.5 hours at an average hourly rate of approximately $674 for total fees of $29,298.50 and accounts totalling $33,605.01 inclusive of disbursements and applicable taxes.; form: prose · rows: · money: fees: quote: The Receiver's total fees are $41,307.00 · amount: 41307 · approximate: false · period: kind: unstated · approval: state: unstated · averages: rate: 432.99 · quote: its average hourly rate is calculated to be $432.99 · currency: · invoices: · firm text: Albert Gelman Inc. · firm quote: Albert Gelman Inc. ('Gelman Inc.') in its capacity as the Court-appointed receiver · context quote: The Receiver's total fees are $41,307.00, its total hours spent is 95.4 and, therefore, its average hourly rate is calculated to be $432.99.; form: prose · rows: · money: approximate: false · period: kind: unstated · approval: state: unstated · averages: rate: 641.25 · quote: The average hourly rate charged for the invoices set out in Exhibit 'A' is $641.25. · currency: · invoices: · context quote: The average hourly rate charged for the invoices set out in Exhibit 'A' is $641.25. · firm unverified: true
- recovery outcomeentries: basis: unstated · quote: As a result, there will be no distribution to any creditors of Images. · pct of: unstated · outcome: nil · class key: unsecured · stated by: receiver · class label: creditors of Images · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: As a result, there will be no distribution to Olympia in respect of second ranking charge on the Walnut Property or any other creditors of 253Co. · pct of: unstated · outcome: nil · class key: secured · stated by: receiver · class label: Olympia · creditor name: Olympia · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: As set out above, it is likely that TD Bank will suffer a material shortfall in respect of its claim against the Companies. · pct of: unstated · outcome: shortfall · class key: secured · stated by: receiver · class label: TD Bank · creditor name: TD Bank · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: Given that TD Bank will suffer a shortfall in respect of the TD Mortgage, there will be no distribution to Olympia in respect of the Olympia Mortgage. · pct of: unstated · outcome: nil · class key: secured · stated by: receiver · class label: Olympia Mortgage · creditor name: Olympia · interim final: unstated · claims qualifier: unstated · stated on: 2024-04-16 · table missing: