Ontario · Receivership (court-appointed)
Second Supplemental Report to the First Report of the Receiver
Court officer report · 23 July 2025
Also filed as: Second Supplementary Report of the Receiver
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 filing4 verified
- operational summaryThe Receiver is pursuing a proposed course of action to realize on active mortgages, explore other recovery avenues, complete a preliminary investigation and prepare a claims process, and seeks to increase the Receiver's Charge. It does not oppose Teichman and Stein enforcing remedies on the S-27 Mortgage but cannot support carving out the S-26 Mortgage.
- professional feesnote: Total costs incurred to date: Receiver's fees through May 31, 2025 (exclusive of HST) $242,858; Receiver's WIP $115,000; third party costs $43,358; legal fees $197,492; legal WIP $40,000. Estimated further costs for next phase $465,000-$575,000; total projected costs $1,103,708-$1,213,708; Receiver's Charge proposed to increase from $300,000 to $1,200,000. · party: Receiver (B. Riley Farber Inc.) and its legal counsel · amount: 638708 · period: incurred to date (Receiver's fees through May 31, 2025, plus WIP, third party costs, legal fees and legal WIP) · currency: CAD
- report date23 July 2025
- report noSecond Supplemental Report to the First Report