Ontario · Receivership (court-appointed)
Supplementary Motion Record of the Receiver dated March 11, 2024
Application / notice of application · 11 March 2024
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 filing1 verified
- recovery outcomeentries: basis: estimated · quote: Accordingly, it is the Receiver's expectation that no future distributions will be available for any creditors, including unsecured creditors, other than Bridging. · pct of: unstated · outcome: nil · class key: unsecured · stated by: receiver · class label: unsecured creditors, other than Bridging · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: Accordingly, regardless of who, as between Bridging and the LMS Secured Creditors, has priority to the proceeds of the LMS Units, all super-priority claims will be paid in full. · pct of: unstated · outcome: paid_in_full · class key: deemed_trust · stated by: receiver · class label: super-priority claims like those of the CRA and those under section 81.4 and 81.6 of the BIA · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: | Total | | 376,357.18 | 459,518.61 | 347,628.60 | 28,728.58 | · pct of: unstated · outcome: shortfall · class key: secured · stated by: receiver · amount low: 347629 · amount high: 347629 · class label: HSBC Bank Canada · claims amount: 376357.18 · creditor name: HSBC Bank Canada · interim final: unstated · claims qualifier: unstated · shortfall amount: 28728.58 · stated on: 2024-03-11 · table missing: