Ontario · Receivership (court-appointed)
third receivers report.pdf
Court officer report · 20 March 2014
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What we verified from this filing9 verified
- operational summaryThe Receiver focused on marketing and selling 131's real property (the Premises), ultimately entering an APS with Carnevale/2344770 Ontario Inc., and decided not to pursue its investigation into asset transfers to TIFCO after RBC declined to fund it and reached its own settlement, concluding further investigation would not benefit creditors.
- process resultsbids: 5 · note: Five offers received for the Premises during the marketing period · as of: 2014-02-27
- professional feesnote: Inclusive of HST; comprising fees of $74,464.65, disbursements of $81.36, and HST of $9,690.99. Simpson Wigle (legal counsel) separately claimed fees and disbursements of $41,217.02 inclusive of HST for the same period. · party: The Fuller Landau Group Inc. (Receiver) · amount: 84237 · period: November 1, 2013 to February 28, 2014 · currency: CAD
- purchaserCarnevale Holdings Inc.
- recovery outcomeentries: basis: estimated · quote: There will not be sufficient funds to fully repay the indebtedness owed by 131 to RBC under the mortgage, and therefore any amount to any of the unsecured creditors of 131 subordinate to RBC would not receive a distribution. · pct of: unstated · outcome: nil · class key: unsecured · stated by: receiver · class label: unsecured creditors of 131 subordinate to RBC · interim final: unstated · claims qualifier: unstated · stated on: 2014-03-20 · table missing:
- report date20 March 2014
- report noThird Report
- sale advisorCBRE Limited, Brokerage
- sale outcometext: Receiver entered into an APS with Carnevale for the sale of the Premises, pending court approval · scope: parcel · status: pending_approval