Alberta · Receivership (court-appointed)
First Report of the Receiver - June 5 2023
Court officer report · 5 June 2023
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What we verified from this filing8 verified
- operational summaryMGT's quarry operations ceased upon the Receiver's appointment; the Receiver recovered equipment, engaged a liquidator to conduct an auction, and pursued limited collection of accounts receivable while a sale of aggregate inventory remains pending.
- professional feesnote: Breakdown: BDO Receiver Fees - $173,339 (April 30, 2023); MLT Aikins - $44,490 (March 31, 2023); Security Costs - $80,115; Equipment Recovery - $116,837; Miscellaneous - $1,293; inclusive of taxes and disbursements · party: BDO Canada Limited (Receiver) and MLT Aikins (counsel), plus security and equipment recovery costs · amount: 416074 · currency: CAD
- purchaserprice: note: Details of McDougall's liquidation proposal, including the net minimum guarantee, are contained in the sealed Confidential Supplemental report · sealed: true · scope: certain equipment (the 'Assets') owned by MGT · status: proposed · name note: end purchasers at McDougall's public auction, unnamed · structure: auction · name source: operative · relationship: unstated
- receipts cumulativenote: Accounts receivable collections only · since: Receiver's appointment (December 2, 2022) · amount: 109498 · currency: CAD
- report date5 June 2023
- report noFirst Report
- sale advisorMcDougall Auctioneers Ltd.
- sale outcometext: Receiver requests approval of McDougall's liquidation proposal via public auction · scope: liquidation · status: pending_approval