Ontario · Receivership (court-appointed)
Second Report of the Receiver
Court officer report · 17 June 2025
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What we verified from this filing3 verified
- recovery outcomeentries: basis: estimated · quote: The Receiver is seeking authorization to distribute to National Bank certain proceeds from the Auction not exceeding $600,000 to partially repay amounts (i) borrowed by the Receiver that are secured by the Receiver's Borrowing Charge (as defined in the Appointment Order) and (ii) owing by the Debtor to National Bank pursuant to the offer to finance dated January 30, 2023 between the Debtor and National Bank. · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · cumulative: false · amount high: 600000 · class label: National Bank of Canada · claims amount: 5000000 · creditor name: National Bank of Canada · interim final: unstated · related party: false · conditional on: seeking authorization to distribute proceeds not exceeding $600,000 to partially repay amounts secured by the Receiver's Borrowing Charge and owing to National Bank · claims qualifier: unstated · stated on: 2025-06-17 · table missing:
- sale advisorMaynards Industries II Canada Ltd.
- sale outcometext: The Auction in respect of the Auctioned Assets is scheduled to occur virtually on June 26, 2025. · scope: liquidation · status: liquidation_in_progress