Alberta · Receivership (court-appointed)
Receiver's Fifth Report to the Court
Court officer report · 8 October 2021
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 filing11 verified
- closing confirmedscope: 76 Ave Property · outcome: completed · date basis: unstated; scope: Galt Property · outcome: completed · date basis: unstated; scope: Red Deer Condo · outcome: completed · date basis: unstated
- disbursementsnote: Total disbursements for Schendel Mechanical Contracting Ltd. only (excess of receipts over disbursements $3,991.58). Management: $4,089,495.48; 687772 Alberta Ltd.: $143,095.78. · since: July 19, 2019 (to October 1, 2021) · amount: 7590261.22 · currency: CAD
- operational summaryThe Receiver is winding up the Companies' remaining real estate holdings; all properties except the Head Office have been sold, and it seeks court approval to sell the Head Office and make a fifth interim distribution of up to $1.5 million to ATB.
- professional feesnote: Receiver's fees and disbursements per R&D: Mechanical $427,557.62; Management $47,640.63; 687772 Alberta Ltd. $2,886.73. Legal fees (Mechanical): Bob Riddle PC $602,255.81; Miller Thomson $428,361.41; Management legal fees and expenses $28,348.23. Tax treatment not stated. · party: Receiver (PricewaterhouseCoopers Inc.) — Schendel Mechanical Contracting Ltd. · amount: 427557.62 · period: July 19, 2019 to October 1, 2021 · currency: CAD
- purchaserprice: note: Revised Offer to Purchase is in Confidential Appendix B, which the Receiver asks the Court to seal · sealed: true · scope: the Company's head office, located in Edmonton's Winterburn Industrial Area (two adjacent parcels, Plan 8121417 Block 9 Lots 8 and 9) · status: proposed · name note: Receiver refers only to 'the Head Office Purchaser'; the purchaser is not named in the text present · structure: real_property · name source: recital · relationship: unstated; Colliers
- receipts cumulativenote: Total receipts for Schendel Mechanical Contracting Ltd. only. Management: $4,095,191.90; 687772 Alberta Ltd.: $143,724.42. Report states no combined figure. · since: July 19, 2019 (to October 1, 2021) · amount: 7594252.8 · currency: CAD
- recovery outcomeentries: basis: actual · quote: As set out in the Second Report, on December 3, 2019 Canada Revenue Agency's deemed trust claim was paid in full in the amount of $18,702.50 · pct of: unstated · outcome: paid_in_full · class key: deemed_trust · stated by: receiver · amount low: 18702.5 · amount high: 18702.5 · class label: Canada Revenue Agency deemed trust claim · creditor name: Canada Revenue Agency · interim final: unstated · claims qualifier: unstated · stated on: 2021-10-07 · table missing:
- report date7 October 2021
- report noFifth Report
- sale advisorColliers
- sale outcometext: Receiver seeks court approval of the sale of the Head Office, the last remaining property, to the Head Office Purchaser; closing within 30 days of approval · scope: parcel · status: pending_approval