Ontario · Receivership (court-appointed)
Report of the Receiver dated October 2, 2018
Court officer report · 2 October 2018
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 filing2 verified
- secured creditorsnote: Amount will continue to accrue interest, costs and professional fees; Lender also owed continuing professional fees not yet quantified · page: 10 · as of: 2018-09-14 · amount: 20138459.97 · debtor: Fortress Brookdale Inc., Fortress Avenue Road (2015) Inc., and Fernbrook Homes (Brookdale) Limited · creditor: Firm Capital Mortgage Fund Inc. (the Lender) · currency: CAD · security: First Mortgage over the Property (1678-1704 Avenue Road, 375-377 Fairlawn Avenue and 412-416 Brookdale Avenue, Toronto); breakdown: Principal balance $18,211,721.00, Accrued Interest $1,253,015.55, Automatic Renewal Fee $36,432.44, s.17 Mortgages Act interest $546,351.63, Default admin fee $1,500.00, Review admin fee $500.00, Notice of sale fee $750.00, Statement fees $450.00, Construction monitor fees paid (Finnegan Marshall) $87,739.35
- secured creditorsnote: Lien claimant; subcontractor of Summit Forming Ltd; served Statement of Claim (Aluma Claim) on August 17, 2018 against, among others, RSM Canada Limited as Receiver; amount of lien not stated on these pages; disputed/unresolved claim · page: 12 · debtor: Fortress Brookdale Inc. · creditor: Aluma Systems Inc. ("Aluma") · currency: CAD · security: Claim for lien; equipment on-site at the Property