Ontario · Receivership (court-appointed)
Fifth Report of the Receiver dated September 7, 2017
Court officer report · 7 September 2017
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 filing8 verified
- cash on handnote: The text of paragraph 36 is partly garbled by OCR. The figure of $6,181,129.18 is stated as held pursuant to Justice Conway's endorsement of January 26, 2017, with sale proceeds held pending resolution of the appeal of Justice Matheson's decisions; the garbled text refers to it as disbursements, so it may be the net balance of receipts less disbursements rather than a stated cash-on-hand figure. · as at: 2017-09-06 · amount: 6181129.18 · currency: CAD
- closing confirmedscope: the Property · outcome: completed · effective: 2017-03-09 · date basis: stated · approval order date: 2017-01-26
- operational summaryThe Receiver closed the court-approved sale of the Scollard Street property on March 9, 2017, after amending the APS and negotiating a lease termination with the tenant Mad Dash. Sale proceeds are held pending the appeal of Justice Matheson's decisions.
- professional feesnote: Five invoices totaling $200,554.15, exclusive of disbursements and HST. The Receiver's legal counsel, Chaitons LLP, issued one invoice for the period August 16, 2016 to May 16, 2017 reflecting fees of $35,260.50 (disbursements figure garbled in source). · party: MNP Ltd. (Receiver) · amount: 200554.15 · period: June 17, 2014 to August 31, 2017 · currency: CAD
- purchaserprice: sealed: false · scope: the Property · status: closed · name note: Purchaser under the APS approved by the January 26th Order; represented by Feige Nawrocki LLP · structure: real_property · name source: recital · relationship: unstated
- report date7 September 2017
- report noFifth Report of the Receiver
- sale outcometext: The Transaction, involving the sale of the Property under the APS as amended, was completed following a dispute and amendment process. · scope: whole_business · status: closed