Ontario · Receivership (court-appointed)
Second Report to Court dated December 12, 2013
Court officer report · 12 December 2013
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 filing7 verified
- closing confirmedscope: 42 Cummer · outcome: completed · effective: 2013-11-29 · purchaser: 42 Cummer Avenue Inc. · date basis: stated · approval order date: 2013-11-28
- fee scheduleengagements: form: prose · rows: · money: approximate: false · period: kind: unstated · approval: state: unstated · averages: rate: 450 · quote: The Receiver's average hourly rate for the referenced billing period was $450. · scope: Receiver's average hourly rate for the referenced billing period · currency: · invoices: · firm text: Duff & Phelps Canada Restructuring Inc. · firm quote: Duff & Phelps Canada Restructuring Inc. in its capacity as Court Appointed Receiver · context quote: Duff & Phelps Canada Restructuring Inc. ('D&P') was appointed receiver ('Receiver') of the real property located at:; form: prose · rows: · money: fees: quote: Total: $117,205, · amount: 117205 · approximate: false · period: kind: invoice · quote: BLG’s fees for the period October to November total · approval: state: unstated · averages: rate: 621 · quote: BLG's average hourly rate for the referenced billing period was $621. · scope: BLG's average hourly rate for the referenced billing period · currency: · invoices: · firm text: BLG · firm quote: BLG's average hourly rate for the referenced billing period was $621. · context quote: BLG's average hourly rate for the referenced billing period was $621.
- operational summaryThe Receiver has closed the court-approved sales of the four property groups, set up estate accounts and is seeking approval to distribute net sale proceeds to the Di Felice and Battista family interests. It will hold back fees and adjustment reserves, seeks appointment as receiver over 721362 and 1095195 to wind them up, and seeks discharge once matters are complete.
- professional feesnote: Receiver $156,329 and BLG $227,056; $76,677 allocated to each of the five Property allocations. Separately for approval: Receiver's November 2013 fees $44,391 before taxes (HST $5,771, total $50,162); BLG's Oct 19-Nov 30, 2013 fees $117,205 before taxes and disbursements (disbursements $2,867, HST $15,582, total $135,654). · party: Receiver (Duff & Phelps) and its counsel BLG, combined · amount: 383385 · period: from commencement of proceedings through November 2013 (Receiver) / November 30, 2013 (BLG) · currency: CAD
- purchaserCarmela Battista; Carmela Battista; 42 Cummer Avenue Inc.; price: basis: cash · amount: 1957000 · sealed: false · currency: CAD · scope: the undivided 50% interest in · status: approved · name note: purchaser of the undivided 50% interest referenced in item (d), unnamed in available text · structure: real_property · name source: recital · relationship: unstated
- report date12 December 2013
- report noSecond Report