Ontario · Receivership (court-appointed)
Second report of the Receiver, dated December 5, 2016
Court officer report · 5 December 2016
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
- operational summaryThe receivership continues with the Principals operating the business day-to-day while the Receiver pursues a going-concern sale of Mara Tech's operations to Executive Aviation, facing mounting creditor arrears, rent arrears, and an inadequate refinancing proposal.
- process resultsbids: 1 · note: Marketing program concluded November 4, 2016 resulting in a single offer with deposit. · as of: 2016-11-04
- professional feesnote: Receiver's counsel SimpsonWigle LAW LLP incurred fees and disbursements of $37,717.30, inclusive of disbursements and HST, for the same period. · party: Receiver (BDO Canada Limited) · amount: 124351.19 · period: period ended November 30, 2016 · currency: CAD
- purchaserExecutive Aviation Fuels Ltd.
- report date5 December 2016
- report noSecond Report
- sale outcometext: The Receiver's focused marketing program concluded resulting in a single offer with deposit, finalized as an APS with Executive Aviation, conditional on Court approval and recommended by the Receiver. · scope: whole_business · status: pending_approval