Ontario · Receivership (court-appointed)
CCX- Motion Record
Application / notice of application · 16 December 2020
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What we verified from this filing10 verified
- applicantTRINITY PLASTICS PRODUCTS INC.
- courtSUPERIOR COURT OF JUSTICE
- court file noCV-20-00642816-00CL
- provinceONTARIO
- appointeeBDO Canada Limited
- appointee roleCourt-Appointed Receiver
- secured creditorsnote: Per TD Payout Statements; First Report para 41 recites proposed distribution of $344,907.60 (rounding); underlying payout quotes total $276,624.11 (Nov 3, 2020, contract 18004150) plus $68,283.60 (Nov 26, 2020, contract 18009290) = $344,907.71; R&A Opinion confirms valid and enforceable PPSA security · page: 26 · as of: 2020-11-26 · amount: 344906.6 · debtor: Custom Co-Ex Technologies Inc. · creditor: TD Equipment Finance Canada, a division of The Toronto-Dominion Bank · currency: CAD · security: Equipment finance loan agreements; security over specific equipment (excluding ongoing costs)
- secured creditorsnote: Related party (secured lender who obtained receivership appointment); amount per Trinity Payout Statement dated November 30, 2020, including costs and interest; R&A Opinion confirms valid and enforceable PPSA security · page: 26 · as of: 2020-11-30 · amount: 1751648.35 · debtor: Custom Co-Ex Technologies Inc. · creditor: Trinity Plastics Products Inc. · currency: CAD · security: General security agreement securing Trinity Loan (original advance approximately $1.5 million, September 2018)
- fee scheduleengagements: form: time_summary · rows: J. Parisi; B. Cormier; A. Koroneos; G. Cerrato; E. Ross; D. Zheng; T. Montesano; fees: 2896.25 · hours: 16.55 · quote: Administration Support | 16.55 | | 2,896.25 · row kind: bucket · rate kind: standard · name as stated: Administration Support; fees: 143082.75 · hours: 350.35 · quote: Total | 350.35 | | 143,082.75 $ · row kind: subtotal · rate kind: standard · name as stated: Total · money: tax: label: HST · quote: HST - 13.00% (#R101518124) | | 19,645.79 · amount: 19645.79 · fees: quote: Our Fee | | 143,082.75 $ · amount: 143082.75 · total: quote: TOTAL | | 170,767.29 $ · amount: 170767.29 · includes tax: true · includes disbursements: true · approximate: false · disbursements: quote: Administrative Fee - 5% | 7,154.14 | 8,038.75 · amount: 8038.75 · period: end: 2020-07-31 · kind: invoice · quote: TO OUR FEE FOR PROFESSIONAL SERVICES rendered from 18 June 2020 to 31 July 2020 in connection with our Receivership Engagement of the above-noted, as described below. · start: 2020-06-18 · approval: state: unstated · averages: · currency: · invoices: · firm text: BDO Canada Limited · firm quote: BDO Canada Limited (' BDO '), in its capacity as court-appointed receiver (the ' Receiver ') · hours total: quote: Total | 350.35 | | 143,082.75 $ · value: 350.35 · context quote: BDO Canada Limited (' BDO '), in its capacity as court-appointed receiver (the ' Receiver ') of the assets, undertakings and properties of Custom Co-Ex Technologies Inc.; form: time_summary · rows: J. Parisi; B. Cormier; A. Koroneos; G. Cerrato; E. Ross; A. Janusas; D. Zheng; J. Sawicki; N. Tse Tat Hiung; T. Montesano; fees: 1732.5 · hours: 9.9 · quote: Administration Support | 9.90 | | 1,732.50 · row kind: bucket · rate kind: standard · name as stated: Administration Support; fees: 84952.5 · hours: 220.4 · quote: Total | 220.40 | | 84,952.50 $ · row kind: subtotal · rate kind: standard · name as stated: Total · money: tax: label: HST · quote: HST - 13.00% (#R101518124) | | 11,675.97 · amount: 11675.97 · fees: quote: Our Fee | | 84,952.50 $ · amount: 84952.5 · total: quote: TOTAL | | 101,491.10 $ · amount: 101491.1 · includes tax: true · includes disbursements: true · approximate: false · period: end: 2020-11-30 · kind: invoice · quote: TO OUR FEE FOR PROFESSIONAL SERVICES rendered from 1 August 2020 to 30 November 2020 in connection with our Receivership Engagement of the above-noted, as described below. · start: 2020-08-01 · approval: state: unstated · averages: · currency: · invoices: · firm text: BDO Canada Limited · firm quote: BDO Canada Limited (' BDO '), in its capacity as court-appointed receiver (the ' Receiver ') · hours total: quote: Total | 220.40 | | 84,952.50 $ · value: 220.4 · context quote: BDO Canada Limited (' BDO '), in its capacity as court-appointed receiver (the ' Receiver ') of the assets, undertakings and properties of Custom Co-Ex Technologies Inc.; form: invoice_listing · rows: Harvey G. Chaiton; Seth D. Mandell; Saneea Tanvir · money: tax: label: HST · quote: HST at 13.00% 2,964.98 · amount: 2964.98 · fees: quote: TOTAL PROFESSIONAL FEES $22,807.50 · amount: 22807.5 · total: quote: GRAND TOTAL $25,772.48 · amount: 25772.48 · includes tax: true · includes disbursements: false · approximate: false · period: end: 2020-07-18 · kind: invoice · quote: FOR PROFESSIONAL SERVICES RENDERED on this matter up to and including August 31, 2020: · approval: state: unstated · averages: · currency: · invoices: · firm text: Chaitons LLP · firm quote: CHAITONS LLP · hours total: quote: Total: | | 50.50 | $22,807.50 · value: 50.5 · context quote: Lawyers for the Court-Appointed Receiver, BDO Canada Limited; form: invoice_listing · rows: Harvey G. Chaiton; Saneea Tanvir · money: tax: label: HST · quote: HST at 13.00% 678.67 · amount: 678.67 · fees: quote: TOTAL PROFESSIONAL FEES $5,220.50 · amount: 5220.5 · total: quote: GRAND TOTAL $5,899.17 · amount: 5899.17 · includes tax: true · includes disbursements: false · approximate: false · period: end: 2020-08-31 · kind: invoice · quote: FOR PROFESSIONAL SERVICES RENDERED on this matter up to and including August 31, 2020: · approval: state: unstated · averages: · currency: · invoices: · firm text: Chaitons LLP · firm quote: CHAITONS LLP · hours total: quote: Total: | | 8.90 | $5,220.50 · value: 8.9 · context quote: Lawyers for the Court-Appointed Receiver, BDO Canada Limited; form: invoice_listing · rows: Harvey G. Chaiton; Saneea Tanvir · money: tax: label: HST · quote: HST at 13.00% 744.38 · amount: 744.38 · fees: quote: TOTAL PROFESSIONAL FEES $5,726.00 · amount: 5726 · total: quote: GRAND TOTAL $6,470.38 · amount: 6470.38 · includes tax: true · includes disbursements: false · approximate: false · period: end: 2020-09-30 · kind: invoice · quote: FOR PROFESSIONAL SERVICES RENDERED on this matter up to and including September 30, 2020: · approval: state: unstated · averages: · currency: · invoices: · firm text: Chaitons LLP · firm quote: CHAITONS LLP · hours total: quote: Total: | | 11.60 | $5,726.00 · value: 11.6 · context quote: Lawyers for the Court-Appointed Receiver, BDO Canada Limited; form: invoice_listing · rows: Harvey G. Chaiton; Saneea Tanvir · money: tax: label: HST · quote: HST at 13.00% 1,011.14 · amount: 1011.14 · fees: quote: TOTAL PROFESSIONAL FEES $7,778.00 · amount: 7778 · total: quote: GRAND TOTAL $8,792.61 · amount: 8792.61 · includes tax: true · includes disbursements: true · approximate: false · disbursements: quote: TOTAL DISBURSEMENTS $3.07 · amount: 3.07 · period: end: 2020-11-30 · kind: invoice · quote: FOR PROFESSIONAL SERVICES RENDERED on this matter up to and including November 30, 2020: · approval: state: unstated · averages: · currency: · invoices: · firm text: Chaitons LLP · firm quote: CHAITONS LLP · hours total: quote: Total: | | 18.80 | $7,778.00 · value: 18.8 · context quote: Lawyers for the Court-Appointed Receiver, BDO Canada Limited; form: invoice_listing · rows: Harvey Chaiton; Seth Mandell; Saneea Tanvir · money: tax: label: HST · quote: Total Taxes (HST) | | | | $5,399.57 · amount: 5399.57 · fees: quote: Total Hours and Amounts Billed | | 89.80 | | $41,532.00 · amount: 41532 · total: quote: TOTAL | | | | $46,934.64 · amount: 46934.64 · includes tax: true · includes disbursements: true · approximate: false · disbursements: quote: Total Costs | | | | $3.07 · amount: 3.07 · period: kind: cumulative · approval: state: unstated · averages: rate: 462.5 · quote: Average Hourly Rate | | | $462.50 · currency: · invoices: · firm text: Chaitons LLP · firm quote: CHAITONS LLP · hours total: quote: Total Hours and Amounts Billed | | 89.80 · value: 89.8 · context quote: Lawyers for the Court-Appointed Receiver, BDO Canada Limited
- recovery outcomeentries: basis: estimated · quote: Based on cash on hand and estimated realizations, the Receiver estimates that there will be more than enough funds to pay secured creditors in full and make a distribution to unsecured creditors. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: receiver · class label: secured creditors · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: Based on cash on hand and estimated realizations, the Receiver estimates that there will be more than enough funds to pay secured creditors in full and make a distribution to unsecured creditors. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: receiver · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: The proceeds from the sale of the equipment on which TD Bank has security are sufficient to fully pay TD Bank the outstanding amounts owing. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: receiver · class label: TD Bank · creditor name: TD Bank · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: The proceeds from the realization of working capital, ongoing operations and the 'en bloc' sale of the Debtor's assets to the Purchaser are sufficient to fully repay the outstanding amounts owing to Trinity on its secured loan. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: receiver · class label: Trinity · creditor name: Trinity · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: The Receiver anticipates that there will be surplus funds available to the unsecured creditors of the Debtor after payment of the secured creditors and any prior ranking claims. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: receiver · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: the proceeds of sale together with cash on hand will provide for a full repayment of the claims of the secured creditors and unsecured creditors will also receive a distribution; · pct of: unstated · outcome: paid_in_full · class key: unsecured · stated by: receiver · class label: secured creditors and unsecured creditors · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: the proceeds of sale together with cash on hand will provide for a full repayment of the claims of the secured creditors and unsecured creditors will also receive a distribution; · pct of: unstated · outcome: distribution · class key: unsecured · stated by: receiver · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated · stated on: 2020-12-03 · table missing: