Alberta · Receivership (court-appointed)
Receiver's Fourth Report to the Court
Court officer report · 16 October 2020
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 filing9 verified
- disbursementsnote: Total disbursements for Schendel Mechanical Contracting Ltd. only; Management disbursements total $3,922,445.33 and 687772 Alberta Ltd. disbursements total $105,128.64. · since: July 19, 2019 (to October 7, 2020) · amount: 6388628.17 · currency: CAD
- operational summaryThe Receiver is liquidating the Companies' real estate; most properties have been sold, the head office properties remain listed, and approval is sought to sell the Red Deer condo for $210,000 and make a further interim distribution of up to $275,000 to ATB.
- professional feesnote: Receiver's fees and disbursements per Mechanical's R&D; legal fees and disbursements of $418,086.89 also shown. Management: receiver's fees $43,716.40, legal $28,348.23. 687772: receiver's fees $1,534.68. Tax treatment not stated. · party: Receiver (PwC) — Schendel Mechanical Contracting Ltd. · amount: 340973.32 · period: July 19, 2019 to October 7, 2020 · currency: CAD
- purchaser553986 Alberta Corp.
- receipts cumulativenote: Total receipts for Schendel Mechanical Contracting Ltd. only; Management receipts total $4,013,586.48 and 687772 Alberta Ltd. receipts total $110,724.42. · since: July 19, 2019 (to October 7, 2020) · amount: 7257706.02 · currency: CAD
- report date16 October 2020
- report noFourth Report
- sale advisorColliers
- sale outcometext: Receiver seeks Court approval of the proposed sale of the Red Deer Condo to 553986 Alberta Corp. and a fourth interim distribution to ATB of up to $275,000 upon closing. · scope: parcel · status: pending_approval