British Columbia · Receivership (court-appointed)

Receiver's section 245 report

Notice of receiver (s. 245 / Form 87) · 21 November 2018

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 filing2 verified

financial positionnote: Only two asset line items disclosed on this page: 'Investment in subsidiary' (no dollar value shown, i.e. blank/nil) and 'Due from related party' $1,298,748; no total is stated and components are not summed per reporting convention; no liabilities disclosed on these pages · page: 1 · as at: 2018-11-22 · basis: Book values as indicated in the books and records of REMDC; Receiver has not audited, reviewed, or otherwise attempted to verify accuracy, and provides no comment on realizable value · scope: REMDC Holdings Limited (entity-level, unconsolidated) · currency: CAD
secured creditorsnote: Claim amount stated as approximate; REMDC's security obligation arises from a guarantee/security agreement supporting a loan advanced to its parent company (related-party financing structure) · page: 2 · amount: 79901000 · debtor: REMDC Holdings Limited · creditor: Orion Fund JV Limited · currency: USD · security: Guarantee and security agreement granted by REMDC in support of a loan to REMDC's parent company