Ontario · Receivership (court-appointed)
Motion Record
Application / notice of application · 13 September 2022
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What we verified from this filing10 verified
- applicantBDO Canada Limited
- commencement date13 September 2022
- courtSUPERIOR COURT OF JUSTICE
- court file noCV-21-00660400-00CL
- provinceONTARIO
- statutory basissection 243 of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3, as amended, and section 101 of the Courts of Justice Act, R.S.O. 1990 c. C. 43, as amended
- appointeeBDO Canada Limited
- appointee rolereceiver
- fee scheduleengagements: form: prose · rows: · money: fees: quote: for a total of $43,839.50 prior to disbursements of $2,651.11 and applicable taxes · amount: 43839.5 · approximate: true · disbursements: quote: prior to disbursements of $2,651.11 and applicable taxes · amount: 2651.11 · period: end: 2022-09-09 · kind: invoice · quote: The Receiver ' s fees for the period May 9, 2022 to September 9, 2022 encompass 119.10 hours · start: 2022-05-09 · approval: state: unstated · averages: rate: 368.09 · quote: an average hourly rate of approximately $368.09 · currency: · invoices: · firm text: BDO Canada Limited · firm quote: Lawyers for BDO Canada Limited, in its capacity as Court-appointed Receiver · hours total: quote: encompass 119.10 hours · value: 119.1 · context quote: The Receiver ' s fees for the period May 9, 2022 to September 9, 2022 encompass 119.10 hours at an average hourly rate of approximately $368.09 for a total of $43,839.50 prior to disbursements of $2,651.11 and applicable taxes.; form: prose · rows: · money: fees: quote: for a total of $18,740.00 prior to disbursements of $589.31 and applicable taxes · amount: 18740 · approximate: true · disbursements: quote: prior to disbursements of $589.31 and applicable taxes · amount: 589.31 · period: end: 2022-08-31 · kind: invoice · quote: Blaney's fees for the period May 30, 2022 to August 31, 2022 encompass 31.8 hours · start: 2022-05-30 · approval: state: unstated · averages: rate: 589.31 · quote: an average hourly rate of approximately $589.31 · currency: · invoices: · firm text: Blaney McMurtry LLP · firm quote: BLANEY McMURTRY LLP · hours total: quote: encompass 31.8 hours · value: 31.8 · context quote: Blaney's fees for the period May 30, 2022 to August 31, 2022 encompass 31.8 hours at an average hourly rate of approximately $589.31 for a total of $18,740.00 prior to disbursements of $589.31 and applicable taxes.
- recovery outcomeentries: basis: estimated · quote: based upon the proceeds from the sale of the Real Property there will be sufficient funds to repay the Equitable Indebtedness in full. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: receiver · class label: Equitable Indebtedness · creditor name: Equitable · interim final: unstated · related party: false · claims qualifier: unstated; basis: estimated · quote: are in favour of proceeding with the Transaction, notwithstanding that the Kays will suffer a shortfall on their indebtedness; · pct of: unstated · outcome: shortfall · class key: secured · stated by: receiver · class label: Kay Indebtedness · creditor name: Kays · interim final: unstated · conditional on: subject to a reasonable reserve until Receiver's discharge; barring unforeseen priority payables · claims qualifier: unstated; basis: estimated · quote: However, there will be insufficient funds to payout the DCI Mortgage in full, and none to remit to the third mortgagee; · pct of: unstated · outcome: nil · class key: secured · stated by: receiver · class label: DCI Mortgage (third mortgagee) · creditor name: DCI · interim final: unstated · claims qualifier: unstated · stated on: 2022-09-13 · table missing: