Ontario · Receivership (court-appointed)
Motion Record of the Receiver
Application / notice of application · 28 March 2025
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What we verified from this filing7 verified
- applicantHMT Holdings Inc.
- appointeeMNP Ltd.
- appointee roleReceiver
- courtONTARIO SUPERIOR COURT OF JUSTICE
- court file noCV—24-00003168-0000
- fee scheduleengagements: form: prose · rows: · money: tax: label: HST · quote: plus HST · total: quote: $2,411.84 plus HST representing the fees and disbursements of SP Law · amount: 2411.84 · includes tax: false · includes disbursements: true · approximate: false · period: end: 2025-03-20 · kind: invoice · quote: for the period ended March 20, 2025 · approval: state: unstated · averages: · currency: · invoices: · firm text: SP Law · firm quote: SP Law as Receiver's counsel · context quote: $2,411.84 plus HST representing the fees and disbursements of SP Law as Receiver's counsel with respect to a review of HMT's security for the period ended March 20, 2025; form: prose · rows: · money: approximate: false · period: end: 2025-03-26 · kind: cumulative · label: Billing Period · quote: in respect of services rendered for the period from November 4, 2024, through March 26, 2025 (the ' Billing Period ') · start: 2024-11-04 · approval: state: unstated · averages: rate: 535.59 · quote: resulting in an average hourly rate of $535.59 (exclusive of applicable taxes) · currency: · invoices: date: 2025-03-20 · quote: The account is dated March 20, 2025 for the period ended March 20, 2025 in the amount of $28,148.00 plus HST. · total: 28148 · period end: 2025-03-20 · average rate: 481.99 · firm text: Loopstra Nixon · firm quote: Statement of Accounts issued by Loopstra Nixon · hours total: quote: 17 hours were billed by Loopstra Nixon during the Billing Period · value: 17 · context quote: Attached hereto and marked as Exhibit 'A' are true copies of the Statement of Accounts issued by Loopstra Nixon in respect of services rendered for the period from November 4, 2024, through March 26, 2025 (the ' Billing Period ').
- recovery outcomeentries: basis: estimated · quote: Based on the sale price for the Real Property, HMT will suffer a shortfall on its secured claim. · pct of: unstated · outcome: shortfall · class key: secured · stated by: receiver · class label: the Lender (HMT Holdings Inc.) · creditor name: HMT · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: The Receiver does not anticipate that there will be any funds available for distribution to any other creditor. · pct of: unstated · outcome: nil · stated by: receiver · class label: any other creditor · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: CRA has advised the Receiver that pre-receivership HST arrears amount to $4,238.15, and that none of these arrears are subject to the deemed trust provisions set out in the Excise Tax Act (i.e. the full amount is unsecured and, as the secured creditor shall suffer a shortfall, there will be no funds flowing from the Receivership estate to satisfy the same). · pct of: unstated · outcome: nil · class key: deemed_trust · stated by: receiver · class label: the secured creditor / HST arrears (unsecured, no deemed trust) · claims amount: 4238.15 · creditor name: Canada Revenue Agency · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: It is anticipated there will be no funds remaining for any other creditor. · pct of: unstated · outcome: nil · stated by: receiver · class label: any other creditor · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: The Transaction will result in a shortfall to the Lender, however the Lender supports the APS. · pct of: unstated · outcome: shortfall · class key: secured · stated by: receiver · class label: the Lender · interim final: unstated · claims qualifier: unstated · table missing: