Ontario · Winding-up (provincial)
Motion Record
Application / notice of application · 2 August 2023
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What we verified from this filing2 verified
- fee scheduleengagements: form: prose · rows: · money: approximate: false · period: end: 2023-07-31 · kind: invoice · quote: For the period from 1 March 2023 to 31 July 2023, in connection with us acting as the Court-appointed Liquidator of Paidiem Payment Solutions Inc. · start: 2023-03-01 · approval: state: unstated · averages: rate: 603.9 · quote: The weighted average hourly rate in respect of the account is $603.90. · currency: · invoices: · firm text: MNP Ltd. · firm quote: MNP Ltd. (the ' Liquidator ') in its capacity as the court appointed liquidator of the respondent Paidiem Payment Solutions Inc. · context quote: MNP Ltd. (the ' Liquidator ') in its capacity as the court appointed liquidator of the respondent Paidiem Payment Solutions Inc. (' Paidiem ') will make a motion before a judge of the Ontario Superior Court of Justice (Commercial List) on Tuesday, August 8, 2023 at 10:00 a.m. or as soon after that time as the motion can be heard.; form: rate_chart · rows: · money: approximate: false · period: end: 2023-07-31 · kind: interim · quote: Camelino's hourly billing rate and hours worked during the currency of CGLLP's engagement as counsel for the Liquidator for the period commencing March 1, 2023 and ending July 31, 2023 is as follows. · start: 2023-03-01 · approval: quote: By order of the Honourable Madam Justice Steele dated March 15, 2023, CGLLP's fees in the amount of $14,541.41 for the period ending on February 28, 2023 were approved. · state: approved · order date: 2023-03-15 · averages: · currency: · invoices: · firm text: Camelino Galessiere LLP · firm quote: CAMELINO GALESSIERE LLP · context quote: Camelino's hourly billing rate and hours worked during the currency of CGLLP's engagement as counsel for the Liquidator for the period commencing March 1, 2023 and ending July 31, 2023 is as follows.; form: invoice_listing · rows: · money: approximate: false · period: end: 2023-03-31 · kind: invoice · quote: TO PROFESSIONAL SERVICES RENDERED with respect to the above matter during the period ending March 31, 2023 including: · approval: state: unstated · averages: · currency: · invoices: · firm text: Camelino Galessiere LLP · firm quote: CAMELINO GALESSIERE LLP · context quote: CGLLP issued invoices for its fees for the period beginning March; form: invoice_listing · rows: · money: approximate: false · period: end: 2023-06-30 · kind: invoice · quote: TOPROFESSIONAL SERVICES RENDERED with respect to the above matter during the period ending June 30, 2023 including: · approval: state: unstated · averages: · currency: · invoices: · firm text: Camelino Galessiere LLP · firm quote: CAMELINO GALESSIERE LLP · context quote: CGLLP issued invoices for its fees for the period beginning March; form: invoice_listing · rows: · money: approximate: false · period: end: 2023-07-31 · kind: invoice · quote: TO PROFESSIONALSERVICESRENDERED with respect to the above matter during the period ending July 31, 2023 including: · approval: state: unstated · averages: · currency: · invoices: · firm text: Camelino Galessiere LLP · firm quote: CAMELINO GALESSIERE LLP · context quote: CGLLP issued invoices for its fees for the period beginning March
- recovery outcomeentries: basis: actual · quote: (2) secured creditor - $164,910.27, already paid to BDC (January 18, 2023); · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: liquidator · amount low: 164910.27 · amount high: 164910.27 · class label: secured creditor · claims amount: 164910.27 · creditor name: BDC · interim final: unstated · claims qualifier: proven; basis: estimated · quote: (1) pay in full the proven claims of the unsecured creditors from the Net Cash; · pct of: unstated · outcome: paid_in_full · class key: unsecured · stated by: liquidator · class label: unsecured creditors · claims amount: 417027.81 · interim final: unstated · conditional on: subject to the Liquidator's Reserve and confirmation of no trust claims of CRA · claims qualifier: proven; basis: estimated · quote: Accordingly, there is an expected shortfall of more than $1 million, before the claims of the common shareholders are considered. · pct of: unstated · outcome: shortfall · class key: equity · stated by: liquidator · class label: preferred shareholders · claims amount: 4480764.07 · interim final: unstated · claims qualifier: proven · shortfall amount: 1000000; basis: estimated · quote: As such, the Liquidator does not anticipate that there will be any distributions to the common shareholders. · pct of: unstated · outcome: nil · class key: equity · stated by: liquidator · class label: common shareholders · interim final: unstated · claims qualifier: unstated · table missing: