Saskatchewan · Interim receivership
Fifth Report of the Receiver dated December 27, 2024
Court officer report · 27 December 2024
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 filing7 verified
- cash on handnote: Ending cash per the Statement of Receipts and Disbursements for July 9, 2024 - December 13, 2024. · as at: 2024-12-13 · amount: 33628 · currency: CAD
- disbursementssince: July 9, 2024 (appointment of the Interim Receiver) to December 13, 2024 · amount: 429704 · currency: CAD
- operational summaryThe Debtors' franchise business has ceased and the estates are being wound down. Leases were assigned to Block or disclaimed, office assets are being stored or auctioned, and the Debtors were assigned into bankruptcy on October 17, 2024. The Receiver is investigating suspicious related-party transfers and has obtained a Mareva injunction.
- professional feesnote: Plus applicable taxes. Receiver's legal counsel fees and costs billed are $145,589 plus applicable taxes. The statement of receipts and disbursements shows Receiver's fees and costs of $164,273, which differs from the $162,273 stated in the fee approval section. · party: Receiver (Ernst & Young Inc.) · amount: 162273 · period: to December 13, 2024 · currency: CAD
- receipts cumulativenote: Includes $407,985 of Receiver's Certificates borrowed from Block and $42,773 of funding from a secured creditor. · since: July 9, 2024 (appointment of the Interim Receiver) to December 13, 2024 · amount: 467769 · currency: CAD
- report date27 December 2024
- report noFifth Report of the Receiver