Manitoba · Receivership (court-appointed)
Sixth Report of the Receiver – Dated September 5, 2025
Court officer report · 5 September 2025
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 filing12 verified
- closing confirmedscope: specific assets of Genesus and Can-AM · outcome: completed · effective: 2024-07-26 · purchaser: Genesus Genetics Technology Inc. · date basis: stated · approval order date: 2024-07-26; scope: the Riverdale Property · outcome: completed · effective: 2024-10-18 · date basis: stated · approval order date: 2024-10-08; scope: the Park Blvd. Property · outcome: completed · effective: 2025-02-25 · date basis: stated · approval order date: 2025-01-29; scope: the Bagot Property · outcome: completed · effective: 2025-07-02 · date basis: stated · approval order date: 2025-06-12; scope: specific assets · outcome: not_completed · purchaser: Genesus Genetics Technology Inc. · date basis: unstated · approval order date: 2024-07-04
- disbursementssince: June 11, 2024 (Date of Receivership) to August 31, 2025 · amount: 3272132 · currency: CAD
- fee scheduleengagements: form: invoice_listing · rows: · money: approximate: false · period: end: 2025-07-31 · kind: invoice · quote: INVOICE SUMMARY FOR THE PERIOD OF MAY 1, 2025 to JULY 31, 2025 · start: 2025-05-01 · approval: state: unstated · averages: rate: 342 · quote: The average blended hourly rate charged by BDO in these proceedings for invoices issued to date is $342 per hour. · scope: invoices issued to date · currency: · invoices: · firm text: BDO Canada Limited · firm quote: SIXTH REPORT OFBDO CANADA LIMITED, IN ITS CAPACITY AS COURT APPOINTED RECEIVER OF GENESUS INC., CAN-AM GENETICS INC., AND GENESUS GENETICS INC. · context quote: IN ITS CAPACITY AS COURT APPOINTED RECEIVER OF GENESUS INC., CAN-AM GENETICS INC., AND GENESUS GENETICS INC.
- operational summaryThe Receiver continues to wind down the receivership estate, having sold the Bagot Property and continuing efforts to sell the Oakville Property, pursue SRED tax credits and collect accounts receivable, while proposing an interim distribution to secured and priority creditors.
- professional feesnote: Inclusive of GST; legal counsel fees for period June 1, 2025 to July 31, 2025 totaled $34,539 separately · party: Receiver (BDO Canada Limited) · amount: 60194 · period: May 1, 2025 to July 31, 2025 · currency: CAD
- purchaserGenesus Genetics Technology Inc.; Genesus Genetics Technology Inc.; price: sealed: false · scope: the Riverdale Property · status: closed · name note: purchaser of the Riverdale Property, unnamed · structure: real_property · name source: recital · relationship: unstated; price: sealed: false · scope: the Park Blvd. Property · status: closed · name note: purchaser of the Park Blvd. Property, unnamed · structure: real_property · name source: recital · relationship: unstated; price: sealed: false · scope: the Bagot Property · status: closed · name note: purchaser of the Bagot Property, unnamed · structure: real_property · name source: recital · relationship: unstated; price: basis: cash · amount: 380000 · sealed: false · currency: CAD · scope: the Oakville Property · status: not_completed · name note: party who made the January 20, 2024 Offer for the Oakville Property, unnamed · structure: real_property · name source: recital · relationship: unstated
- receipts cumulativesince: June 11, 2024 (Date of Receivership) to August 31, 2025 · amount: 6360789 · currency: CAD
- recovery outcomeentries: basis: unstated · quote: (a) payment to Service Canada to satisfy the WEPP priority claims of Can-Am and Genesus of $5,271 and $21,512, respectively (the "Service Canada Payments"); · pct of: unstated · outcome: distribution · class key: weppa · stated by: receiver · amount low: 5271 · amount high: 5271 · class label: Service Canada (WEPP priority claims of Can-Am) · creditor name: Service Canada · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: (a) payment to Service Canada to satisfy the WEPP priority claims of Can-Am and Genesus of $5,271 and $21,512, respectively (the "Service Canada Payments"); · pct of: unstated · outcome: distribution · class key: weppa · stated by: receiver · amount low: 21512 · amount high: 21512 · class label: Service Canada (WEPP priority claims of Genesus) · creditor name: Service Canada · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: (b) payment to CRA to satisfy the GST priority claim of Genesus of $64,461 (the "CRA Payment"); · pct of: unstated · outcome: distribution · class key: deemed_trust · stated by: receiver · amount low: 64461 · amount high: 64461 · class label: CRA (GST priority claim of Genesus) · creditor name: CRA · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: (c) payment to FCC to satisfy its secured claim by way of its first mortgage on the Park Blvd. Property of $1,136,974 (the "FCC Payment); · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: receiver · amount low: 1136974 · amount high: 1136974 · class label: FCC (secured claim by first mortgage on Park Blvd. Property) · creditor name: FCC · interim final: interim · claims qualifier: unstated; basis: unstated · quote: (d) payment to BMO of $1,250,000 on account of its first priority general security agreement registration filed in the Manitoba Personal Property Registry (the "BMO Payment"); and · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · amount low: 1250000 · amount high: 1250000 · class label: BMO (first priority general security agreement) · creditor name: BMO · interim final: interim · claims qualifier: unstated · table missing:
- report date5 September 2025
- report noSixth Report
- sale advisorWarren Neufeld of Royal LePage Portage Realty
- sale outcometext: Remaining Oakville Property still being marketed; other properties sold · scope: liquidation · status: liquidation_in_progress