Quebec · Receivership (court-appointed)
Third Interim Report Submitted as Receiver
Court officer report · 15 July 2015
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 filing8 verified
- cash on handnote: Statement of receipts and disbursements shows amount available for distribution / retained in trust account of 1,645,626.04; the report text says approximately €1,646K was in the possession of/controlled by the Receiver as of June 30, 2015. · as at: 2015-06-30 · amount: 1646000 · currency: EUR · qualifier: approximately
- disbursementsnote: Appendix A total disbursements 4,091,097.48, including distributions to Secured Creditors of €1,878K and repairs/maintenance of €563K. · since: January 16, 2014 (Receiver's appointment), through June 30, 2015 · amount: 4091000 · currency: EUR
- operational summaryThe Wittenberg real property sale to Porta closed March 31, 2015 and most proceeds went to the Secured Creditors. The Receiver is still collecting some receivables and holding about €1.6M against potential SPA liabilities, so it does not expect to complete the receivership before October 2016.
- professional feesnote: Appendix A shows Receiver's fees and costs of 470,698.06. Separately, asset manager's fees of €135K and reimbursement of Secured Creditors' legal fees of €302K are reported. · party: Receiver and the Receiver's legal counsels · amount: 471000 · period: January 16, 2014 to June 30, 2015 · currency: EUR
- receipts cumulativenote: Appendix A total receipts 5,736,723.52, comprising rental income €2,545K, realization of Real Property €1,734K (net of amounts paid directly to Secured Creditors by the notary) and cash balances €1,458K. · since: January 16, 2014 (Receiver's appointment), through June 30, 2015 · amount: 5737000 · currency: EUR
- recovery outcomeentries: basis: actual · quote: Distributions to the Secured Creditors in the amount of €1,878K (as part of the regular/scheduled quarterly payments to the Secured Creditors as per the loan agreement and as part of interim distributions to the Secured Creditors); · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · amount low: 1878000 · amount high: 1878000 · class label: Secured Creditors · interim final: interim · claims qualifier: unstated · stated on: 2015-07-15 · table missing:
- report date15 July 2015
- report noThird Interim Report