Quebec · Receivership (court-appointed)
Final Report Submitted as Receiver
Court officer report · 16 December 2016
What we verified from this filing12 verified
- closing confirmedscope: the Real Property · outcome: completed · effective: 2015-03-31 · purchaser: Porta · date basis: stated · approval order date: 2014-12-18
- disbursementsnote: This figure excludes the €3,220K in payments/distributions made to the Secured Creditor, which are shown separately; including those, the formal Total Disbursements in Appendix A equal €5,952,851.61 (matching Total Receipts). · since: January 16, 2014 · amount: 2733000 · currency: EUR
- operational summaryThe receivership has been fully wound down: the Receiver sold the Real Property to Porta, distributed nearly all proceeds to the Secured Creditor over time, paid all operating costs of H98, and made a final distribution of the remaining balance, concluding its mandate.
- process resultsbids: 4 · note: The Real Property was presented for both leasing and purchase to 4 different parties.
- professional feesnote: Table shows precise figure of €548,951.79 for 'Receiver's fees and costs'; separate line of €32,984.22 for 'Fees for the realization of assets'. · party: Receiver and Receiver's legal counsel · amount: 549000 · period: Receivership period (January 16, 2014 to close of file) · currency: EUR
- purchaserPorta Möbel GmbH & Co.
- receipts cumulativenote: Statement of receipts and disbursements table gives a precise total of €5,952,851.61 for the same period. · since: January 16, 2014 · amount: 5953000 · currency: EUR
- recovery outcomeentries: basis: actual · quote: The Secured Creditor was therefore reimbursed approximately 91% of the amount of its secured claim as of the time of the Receivership Order. · pct of: unstated · outcome: shortfall · pct low: 91 · pct high: 91 · class key: secured · stated by: receiver · class label: Secured Creditor · claims amount: 20289000 · creditor name: Titan Europe 2006-5 P.L.C. and Credit Suisse International · interim final: unstated · related party: false · claims qualifier: unstated · stated on: 2016-12-16 · table missing:
- report date16 December 2016
- report noFinal Report
- sale advisorGarigal Asset Management GmbH
- sale outcometext: The sale of the Real Property to Porta closed on March 31, 2015, following Court approval of the Vesting Order on December 18, 2014. · scope: whole_business · status: closed