Ontario · NOI
Third Report of the Proposal Trustee dated June 4, 2025
Court officer report · 4 June 2025
A plain-language read of this filing opens with a subscription.
What we verified from this filing5 verified
- fee scheduleengagements: form: rate_chart · rows: Bryan Gelman; Tom McElroy; Adam Zeldin; Suzette Warner; Chris Rowe; Mahmood Shafique; Jacqueline Dowdell; Ivy Chen; Daphna Cherniak · money: fees: quote: The Trustee's total fees are $122,982.00 plus HST · amount: 122982 · approximate: false · period: end: 2025-05-31 · kind: cumulative · quote: An account dated May 1, 2025 for the period March 3, 2025 to April 30, 2025 of $87,668.50, plus HST thereon · start: 2025-03-03 · approval: quote: This Affidavit is made in support of a motion to approve the accounts of Albert Gelman Inc. and for no improper purpose. · state: sought · averages: rate: 494.9 · quote: its average hourly rate is calculated to be $494.90 plus HST · currency: · invoices: date: 2025-05-01 · fees: 87668.5 · quote: An account dated May 1, 2025 for the period March 3, 2025 to April 30, 2025 of $87,668.50, plus HST thereon · period end: 2025-04-30 · period start: 2025-03-03; date: 2025-06-02 · fees: 35313.5 · quote: An account dated June 2, 2025 for the period from May 1 to May 31, 2025 of $35,313.50, plus HST thereon · period end: 2025-05-31 · period start: 2025-05-01 · firm text: Albert Gelman Inc. · firm quote: THIRD REPORT OF ALBERT GELMAN INC. IN ITS CAPACITY AS TRUSTEE · hours total: quote: its total hours spent is 248.5 · value: 248.5 · context quote: I am a Licenced Insolvency Trustee and Managing Director of Albert Gelman Inc. (' Trustee '), Trustee of 11449346 Canada Inc. and 12574764 Canada Ltd.; form: time_entry · rows: · money: approximate: false · period: kind: unstated · approval: state: unstated · averages: · currency: · invoices: · context quote: the fees and disbursements of the Trustee and its legal counsel, Paliare Roland Rosenberg Rothstein LLP (' PR '), in respect of these restructuring proceedings in accordance with paragraph 3 of the April 9 Order · firm unverified: true
- operational summaryThe Companies continue to operate in the ordinary course during the NOI proceedings while pursuing a going-concern sale via a court-supervised SISP, despite cash flow shortfalls relative to forecasts caused by customer non-payment, project delays, and contract losses attributable to the insolvency proceedings.
- professional feesnote: Plus HST. Trustee's counsel PR fees to May 31, 2025 also stated separately (approx. $16,390.21 inclusive of HST and disbursements for April account, plus $2,327.50 in fees for May account). · party: Albert Gelman Inc. (Trustee) · amount: 122982 · period: March 3, 2025 to May 31, 2025 · currency: CAD
- report date4 June 2025
- report noThird Report