Newfoundland and Labrador · Receivership (court-appointed)
Second Report to the Court of Receiver
Court officer report · undated
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 filing2 verified
- fee scheduleengagements: form: prose · rows: · money: fees: quote: for a total of $225,484.75 prior to disbursements of $11,338.25 and applicable taxes · amount: 225484.75 · approximate: false · disbursements: quote: prior to disbursements of $11,338.25 and applicable taxes · amount: 11338.25 · period: end: 2018-06-30 · kind: invoice · quote: The fees and disbursements of the Receiver for the period ending June 30, 2018 are detailed in the affidavit of Phil Clarke, a copy of which is attached as Appendix G. · approval: quote: approving the fees and disbursements of the Receiver and its legal counsels, Cox & Palmer LLP ("C&P") and Patterson Law LLP ("Patterson"), as outlined herein · state: sought · averages: rate: 260.84 · quote: at an average hourly rate of approximately $260.84 · currency: · invoices: · firm text: BDO Canada Limited · firm quote: SUBMITTED BY BDO CANADA LIMITED IN ITS CAPACITY AS RECEIVER OF PTL HOLDINGS LIMITED, PTL SERVICES (EQUIPMENT) LIMITED, CSL SERVICES (INDUSTRIAL) LIMITED AND 9263357 CANADA INC. · hours total: quote: The Receiver's fees to June 30, 2018 encompass 821 hours at an average hourly rate of approximately $260.84 · value: 821 · context quote: IN ITS CAPACITY AS RECEIVER OF PTL HOLDINGS LIMITED, PTL SERVICES (EQUIPMENT) LIMITED, CSL SERVICES (INDUSTRIAL) LIMITED AND 9263357 CANADA INC.
- recovery outcomeentries: basis: estimated · quote: The Receiver estimates, based on claims, estimated claims to date, pi u d s uhis report, that realization efforts will result in a deficiency to CIBC, and no distribution to Parsons Vendors, CSL Vendors, or unsecured creditors. · pct of: unstated · outcome: shortfall · class key: secured · stated by: receiver · class label: CIBC · creditor name: CIBC · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: The Receiver estimates, based on claims, estimated claims to date, pi u d s uhis report, that realization efforts will result in a deficiency to CIBC, and no distribution to Parsons Vendors, CSL Vendors, or unsecured creditors. · pct of: unstated · outcome: nil · class key: secured · stated by: receiver · class label: Parsons Vendors · creditor name: Parsons Vendors · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: The Receiver estimates, based on claims, estimated claims to date, pi u d s uhis report, that realization efforts will result in a deficiency to CIBC, and no distribution to Parsons Vendors, CSL Vendors, or unsecured creditors. · pct of: unstated · outcome: nil · class key: secured · stated by: receiver · class label: CSL Vendors · creditor name: CSL Vendors · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: The Receiver estimates, based on claims, estimated claims to date, pi u d s uhis report, that realization efforts will result in a deficiency to CIBC, and no distribution to Parsons Vendors, CSL Vendors, or unsecured creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: receiver · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: a distribution to the respective Unions for the Union Pension Charge totaling $169,832.52 (the "Pension Distribution"); · pct of: unstated · outcome: distribution · class key: deemed_trust · stated by: receiver · amount low: 169832.52 · amount high: 169832.52 · class label: Union Pension Charge · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: a distribution to the respective Unions for the Union Dues 81.4 Charge totaling $83,375.38 (the "Union Dues Distribution"); · pct of: unstated · outcome: distribution · class key: deemed_trust · stated by: receiver · amount low: 83375.38 · amount high: 83375.38 · class label: Union Dues 81.4 Charge · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: a maximum distribution of $15,000 to salaried employees 81.4 Charge once the calculation is finalized by the Receiver (the "Salaried Employee Distribution") · pct of: unstated · outcome: distribution · class key: preferred · stated by: receiver · amount high: 15000 · class label: salaried employees 81.4 Charge · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: an interim distribution to CIBC in the amount of $3,250,000. · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · amount low: 3250000 · amount high: 3250000 · class label: CIBC · creditor name: CIBC · interim final: interim · claims qualifier: unstated · stated on: 2018-10-18 · table missing: