Quebec · Receivership (court-appointed)
First Interim Report of the Receiver
Court officer report · 19 April 2023
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What we verified from this filing15 verified
- appointeeMNP Ltd.
- appointee roleReceiver
- commencement date19 October 2022
- courtSUPERIOR COURT
- court file no550-11-018457-227
- provinceQUEBEC
- statutory basissection 243 of the Bankruptcy and Insolvency Act
- cash on handnote: Amount held in trust by the Receiver as at end of the interim reporting period · as at: 2023-03-31 · amount: 51931.03 · currency: CAD
- disbursementsnote: Cumulative total disbursements for the period October 19, 2022 to March 31, 2023 · since: October 19, 2022 · amount: 7586.07 · currency: CAD
- financial positionnote: Assets: Building 1 (42-44 Laval Street) $1,195,500, Building 2 (36 Laval Street) $818,600 (both based on municipal evaluations as at February 10, 2023), Movable assets inside buildings 'to be determined'. Secured creditors total stated as $4,864,949 (Equitable Bank $2,844,949; Gestion 70 Promenade du Portage Ltée/François Fortier $1,360,000; FGI Holding Inc/Fischer Group Inc. $660,000). Unsecured creditors: ARQ $2,272,000; CRA 'to be determined'; Leblanc Donaldson lawyers 'unknown'. Debtor was in default to Equitable Bank for $2,844,949 as at September 21, 2022. · basis: municipal evaluation / book value; components stated separately, no consolidated total given · scope: entity - 9766049 Canada Inc. (the Debtor) · currency: CAD
- operational summaryThe Debtor's two tenant businesses, the Café and the Pizzaria, continue to operate normally while the Receiver collects monthly rents and has launched a sale process for the two buildings, with brokers marketing the properties and receiving early inquiries.
- professional feesnote: Amount excludes GST ($326.16) and QST ($650.68) charged separately on Receiver's fees · party: Receiver (MNP Ltd) · amount: 6523.16 · period: October 19, 2022 to March 31, 2023 · currency: CAD
- receipts cumulativenote: Cumulative total receipts for the period October 19, 2022 to March 31, 2023 · since: October 19, 2022 · amount: 59517.1 · currency: CAD
- report date19 April 2023
- report noFirst Interim Report