Quebec · Receivership (court-appointed)
Third Report of the Receiver
Court officer report · 22 June 2020
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
- cash on handnote: Held in the Receiver's trust account. · as at: 2020-06-09 · amount: 553884 · currency: CAD
- disbursementsnote: Includes 3,796,889 $ of distributions to secured creditors. · since: 9 May 2019 (to 9 June 2020) · amount: 5853803 · currency: CAD
- operational summaryMométal ceased production around 27 April 2019; its assets were sold under a vesting order and the Receiver is continuing collection of accounts receivable (negotiating a settlement with OLRT, with litigation against recalcitrant clients possible), with efforts slowed by COVID-19.
- professional feesnote: Receiver's own fees; legal fees of the Receiver's counsel 400,692 $ cumulative (150,049 $ in the latest period); consultants' commissions 326,125 $ cumulative. Tax treatment not stated. · party: Restructuration Deloitte inc. (Séquestre) · amount: 598453 · period: since appointment on 8 May 2019 (90,627 $ for 2 Nov 2019 to 9 Jun 2020) · currency: CAD
- receipts cumulativenote: Total receipts per the interim statement; includes 3,831,075 $ of accounts receivable collected. · since: 9 May 2019 (to 9 June 2020) · amount: 6407688 · currency: CAD
- report date22 June 2020
- report noTroisième rapport