Ontario · Receivership (court-appointed)
Third Report to Court dated March 29, 2022
Court officer report · 29 March 2022
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What we verified from this filing4 verified
- purchaserMidroc Holdings Group Inc.; Georgian Country Trails Inc.
- recovery outcomeentries: basis: estimated · quote: Upon closing of the St. Catharines Transaction, the Receiver recommends that it be directed and authorized to make distributions from the St. Catharines Transaction sale proceeds to Meridian Credit Union Limited ('Meridian') and Reciprocal Opportunities Incorporated ('ROI'), in full satisfaction of each of their secured claims against Go-To Glendale. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: receiver · class label: Meridian Credit Union Limited · claims amount: 1150000 · creditor name: Meridian Credit Union Limited · interim final: unstated · related party: false · claims qualifier: estimated; basis: estimated · quote: Upon closing of the St. Catharines Transaction, the Receiver recommends that it be directed and authorized to make distributions from the St. Catharines Transaction sale proceeds to Meridian Credit Union Limited ('Meridian') and Reciprocal Opportunities Incorporated ('ROI'), in full satisfaction of each of their secured claims against Go-To Glendale. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: receiver · class label: Reciprocal Opportunities Incorporated · claims amount: 2140000 · creditor name: Reciprocal Opportunities Incorporated · interim final: unstated · related party: false · claims qualifier: estimated; basis: estimated · quote: Subject to completion of the Claims Procedure, as discussed below, the purchase price also appears to be sufficient to: a) pay in full all other creditor claims against Go-To Glendale; and b) return in full the capital invested by the Glendale Investors in Go-To Glendale Avenue LP, which is the entity through which Glendale Investors invested. · pct of: unstated · outcome: paid_in_full · class key: unsecured · stated by: receiver · class label: all other creditor claims against Go-To Glendale · interim final: unstated · conditional on: Subject to completion of the Claims Procedure · claims qualifier: unstated; basis: estimated · quote: Subject to completion of the Claims Procedure, as discussed below, the purchase price also appears to be sufficient to: a) pay in full all other creditor claims against Go-To Glendale; and b) return in full the capital invested by the Glendale Investors in Go-To Glendale Avenue LP, which is the entity through which Glendale Investors invested. · pct of: unstated · outcome: paid_in_full · class key: equity · stated by: receiver · class label: Glendale Investors · interim final: unstated · conditional on: Subject to completion of the Claims Procedure · claims qualifier: unstated · stated on: 2022-03-29 · table missing:
- sale advisorColliers Macaulay Nicolls Inc.; CBRE Limited
- sale outcometext: Sale Process approved for the Real Property; St. Catharines Transaction proposed for approval; Aurora Offer rejected and Aurora Property included in Sale Process · scope: whole_business · status: process_approved