Ontario · Receivership (court-appointed)
First Report of the Trustee dated April 17-2015
Court officer report · 17 April 2015
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What we verified from this filing6 verified
- secured creditorsnote: Construction contractor; lien registered January 21, 2015 in amount of $113,327.50; per 144's books and records, Brody is owed $32,532.50 (unsecured trade amount, distinct from lien amount) · page: 13 · as of: 2015-01-21 · amount: 113327.5 · debtor: 144 Park Ltd. · creditor: Brody Wall System Ltd. · currency: CAD · security: Construction lien registered against the Property
- unsecured creditorsnote: Trade creditor amount distinct from the $113,327.50 construction lien registered by same party (see secured_creditors) · page: 13 · basis: Per the books and records of 144 Park Ltd. · amount: 32532.5 · debtor: 144 Park Ltd. · creditor: Brody Wall System Ltd. · currency: CAD
- secured creditorsnote: Trustee borrowed $500,000 to date under Court-authorized borrowing charge; Trustee seeking increase to $750,000 pursuant to Commitment Letter dated April 2, 2015; facility fee of 5% ($37,500) also payable · page: 16 · as of: First Report date (April 17, 2015) · amount: 500000 · debtor: 144 Park Ltd. (via Trustee borrowings) · creditor: MarshallZehr Group Inc. · currency: CAD · security: Fixed and specific charge over the whole of the Property, in priority to all claims including construction lien and trust claims, but subordinate to the Administration Charge (Trustee's Borrowings Charge)
- secured creditorsnote: Lien relates to services provided to One 55 Mady Ltd., not to 144 Park Ltd.; amount not stated in these pages · page: 16 · debtor: One 55 Mady Ltd. · creditor: Turner Fleischer Architects · currency: CAD · security: Construction lien registered against City-owned lands adjacent to the Property and the 155 Caroline Lands
- secured creditorsnote: As of March 30, 2015, 21 lien claimants had registered construction liens against the Property in a total aggregate amount of approximately $4.33 million; an earlier approximation of 'over $3.0 million' was stated in prose at the time proceedings commenced (para 9, 46), superseded by this dated figure; individual claimants not named except Brody and Turner Architects below · page: 18 · as of: 2015-03-30 · amount: 4330000 · debtor: 144 Park Ltd. · creditor: Construction lien claimants (21 lien claimants) · currency: CAD · security: Construction liens registered against the Property
- secured creditorsnote: Referred to as 'first mortgagee (or its assignee or successor)' in context of Vetting Committee appointment; no balance stated · page: 19 · debtor: 144 Park Ltd. · creditor: Laurentian Bank of Canada · currency: CAD · security: First mortgagee