British Columbia · Receivership (court-appointed)
Receiver's First Report to Court
Court officer report · 6 March 2017
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 filing15 verified · 2 withheld
- applicantUMC FINANCIAL MANAGEMENT INC.
- appointeePricewaterhouseCoopers Inc.
- appointee roleReceiver-Manager
- commencement date15 February 2016
- cash on handas at: 2017-02-21 · amount: 126000 · currency: CAD · qualifier: approximately
- disbursementsnote: Stated as approximate ($2.8 million), comprised of $1.7 million construction, $0.2 million repair and maintenance, $0.4 million professional fees and disbursements, and other operational disbursements. · since: February 15, 2016 · amount: 2800000 · currency: CAD
- operational summaryThe Receiver has been managing and completing construction of the condominium development, operating the rental program, marina, water and wastewater treatment plants, marketing and selling strata lots, and establishing the Strata Corporation.
- process resultsbids: 2 · note: offers received for Strata lot 34 and Strata lot 38 · as of: 2017-03-06
- professional feesnote: Total not stated as a single figure in the narrative; itemized in Appendices G and H (Receiver's and Counsel's invoices). · party: Receiver and its Counsel · period: February 15, 2016 to January 31, 2017 · currency: CAD
- purchaserKenneth B Hill / Patricia A Hill; Danny Peter McLean / Sharel Margaret Wallace
- receipts cumulativenote: Stated as approximate ($2.9 million), comprised of $2.7 million from UMC and $0.2 million from rental and Marina operations. · since: February 15, 2016 · amount: 2900000 · currency: CAD
- report date6 March 2017
- report noFirst Report
- sale advisorRE/MAX Home Advantage
- sale outcometext: Receiver has received 2 offers from purchasers for the sale of Strata lot 34 and Strata lot 38 and has now accepted both offers, subject to Court approval · scope: parcel · status: pending_approval
2 extracted values are withheld: either a trap-shaped field where models produce confident wrong numbers, or an identity value whose quotation could not be found in the document. Withheld values are shown to no one.