Alberta · Receivership (court-appointed)
Receiver's Second Report to Court
Court officer report · 20 February 2025
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What we verified from this filing12 verified
- disbursementsnote: Cumulative total disbursements per Interim Statement of Receipts and Disbursements for the period June 27, 2024 to February 5, 2025. · since: June 27, 2024 (appointment date) · amount: 145979 · currency: CAD
- fee scheduleengagements: form: invoice_listing · rows: · money: total: quote: 63.40 34,151.50 · amount: 34151.5 · approximate: false · period: kind: unstated · approval: state: unstated · averages: · currency: · invoices: · firm text: MNP Ltd. · firm quote: MNP Ltd. was appointed as Receiver of the following lands owned by Janmar Investments (Alberta) Ltd. · hours total: quote: 63.40 34,151.50 · value: 63.4 · context quote: MNP Ltd. was appointed as Receiver of the following lands owned by Janmar Investments (Alberta) Ltd. (' Janmar '):; form: invoice_listing · rows: · money: tax: label: TAXES · quote: 687.78 · amount: 687.78 · fees: quote: 13,627.50 · amount: 13627.5 · total: quote: 14,543.28 · amount: 14543.28 · includes tax: true · includes disbursements: true · approximate: false · disbursements: quote: 228.00 · amount: 228 · period: kind: cumulative · approval: state: unstated · averages: · currency: · invoices: tax: 250.63 · date: 2024-09-27 · fees: 4982.5 · quote: 27-Sep-24 Emery Jamieson LLP | 177299 | 4,982.50 | 30.00 | 250.63 | 5,263.13 · total: 5263.13 · disbursements: 30; tax: 437.15 · date: 2024-11-13 · fees: 8645 · quote: 13-Nov-24 Emery Jamieson LLP | 178658 | 8,645.00 | 198.00 | 437.15 | 9,280.15 · total: 9280.15 · disbursements: 198 · firm text: Emery Jamieson LLP · firm quote: SUMMARY OF RECEIVER'S LEGAL FEES JANMAR INVESTMENTS (ALBERTA) LTD. · context quote: Solicitors for the Receiver, MNP Ltd.
- operational summaryThe Receiver continued managing the Janmar Lands and collecting rent from tenant Tristar, disclaimed the Tristar lease per court order, ran a sales process leading to an accepted purchase agreement with 268, and now seeks approval of that sale and a proposed interim distribution of proceeds.
- process resultsbids: 4 · note: RFP issued to four commercial real estate agents seeking listing proposals; four listing proposals received. · solicited: 4
- professional feesnote: Total fees and disbursements were $34,176.30, less interim billings of $26,955.00, resulting in net fees and disbursements owing of $7,221.30; legal fees summarized separately in Schedule 4. · party: Receiver (MNP Ltd.) · amount: 34151.5 · period: June 27, 2024 to January 31, 2025 · currency: CAD
- purchaser2682088 Alberta Ltd.
- receipts cumulativenote: Cumulative total receipts per Interim Statement of Receipts and Disbursements for the period June 27, 2024 to February 5, 2025. · since: June 27, 2024 (appointment date) · amount: 251789.12 · currency: CAD
- recovery outcomeentries: basis: estimated · quote: Roynat Inc. (' Roynat ') has registered a primary charge on the Janmar Lands and, based upon the balance outstanding to Roynat the Receiver estimates it will suffer a shortfall after distribution of the net sale proceeds of the Janmar Lands. · pct of: unstated · outcome: shortfall · currency: CAD · class key: secured · stated by: receiver · class label: Roynat Inc. · creditor name: Roynat Inc. · interim final: unstated · currency quote: All references to currency amounts in the Second Report are in Canadian dollars. · claims qualifier: unstated; basis: unstated · quote: Payment to Roynat in the amount of $600,000 · pct of: unstated · outcome: distribution · currency: CAD · class key: secured · stated by: receiver · amount low: 600000 · amount high: 600000 · class label: Roynat · creditor name: Roynat · interim final: unstated · conditional on: In the event that the Court authorizes the sale of the Janmar Lands in accordance with the 268 Purchase Agreement · currency quote: All references to currency amounts in the Second Report are in Canadian dollars. · claims qualifier: unstated · stated on: 2025-02-20 · table missing:
- report date20 February 2025
- report noSecond Report
- sale advisorNAI Commercial Real Estate Inc.
- sale outcometext: The Receiver submits this Second Report in support of an Order authorizing... The approval of the 268 Purchase Agreement · scope: parcel · status: pending_approval