Ontario · Receivership (court-appointed)
Third and Final report of the Receiver dated April 10_2019
Court officer report · 10 April 2019
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What we verified from this filing10 verified
- closing confirmedscope: the Real Property · outcome: completed · effective: 2018-08-20 · date basis: stated · approval order date: 2018-07-19
- disbursementssince: commencement of receivership · amount: 323364.48 · currency: CAD
- operational summaryThe receivership involved sale of the Companies' real property and business assets, which has been completed; the Receiver is now seeking final distributions to the Township and BDC and discharge of the Receiver.
- professional feesnote: Includes HST of $1,499.23; excludes estimated $5,650.00 provisional fees to finalize receivership. Legal counsel Soloway Wright LLP fees for Nov 14, 2018 to Apr 8, 2019 totalled $12,876.13 (fees $10,920.00 + disbursements $493.21 + HST $1,462.92), with additional estimated $7,345.00 provisional fees. · party: Receiver (Raymond Chabot Inc.) · amount: 13031.73 · period: November 11, 2018 to March 30, 2019 · currency: CAD
- purchaser2643868 Ontario Inc.; price: sealed: false · scope: the assets of 730 Holdings Inc. and 2362655 Ontario Inc. · status: approved · name note: purchaser of the assets of 730 Holdings Inc. and 2362655 Ontario Inc. under call for tenders, not individually named · structure: assets · name source: recital · relationship: unstated
- receipts cumulativesince: commencement of receivership · amount: 1839886.48 · currency: CAD
- recovery outcomeentries: basis: unstated · quote: authorizing and directing the Receiver to issue a final distribution in the amount of $292,474.81 as at March 12, 2019 and interest paid to and including April 8, 2019 in the amount of $3,194.37 for a total of $295,669.18 to the Township on account of its priority claim over the Real Property for environmental cleanup costs; · pct of: unstated · outcome: distribution · currency: CAD · class key: preferred · stated by: receiver · amount low: 295669.18 · cumulative: false · amount high: 295669.18 · class label: Township of Edwardsburgh/Cardinal (priority claim for environmental cleanup costs) · creditor name: Township of Edwardsburgh/Cardinal · interim final: final · currency quote: all dollar amounts contained in the Final Report are expressed in Canadian dollars · claims qualifier: unstated; basis: unstated · quote: By payout letter dated August 21,2018, counsel for BDC confirmed that BDC was owed in excess of $2.59 million. Thus, the Receiver will be seeking the authorization of the Court to make an interim distribution of $993,227.51 to BDC. · pct of: unstated · outcome: distribution · currency: CAD · class key: secured · stated by: receiver · amount low: 993227.51 · cumulative: false · amount high: 993227.51 · class label: BDC (interim distribution, Second Report) · claims amount: 2590000 · creditor name: Business Development Bank of Canada (BDC) · interim final: interim · currency quote: all dollar amounts contained in the Final Report are expressed in Canadian dollars · claims qualifier: unstated; basis: unstated · quote: The Receiver will be seeking the authorization of the Court to make an interim distribution of $143,824.80 to the Township for the portion of its claim that relates to property taxes arrears. · pct of: unstated · outcome: distribution · currency: CAD · class key: preferred · stated by: receiver · amount low: 143824.8 · cumulative: false · amount high: 143824.8 · class label: Township of Edwardsburgh/Cardinal (interim distribution for property tax arrears) · claims amount: 143824.8 · creditor name: Township of Edwardsburgh/Cardinal · interim final: interim · currency quote: all dollar amounts contained in the Final Report are expressed in Canadian dollars · claims qualifier: unstated · stated on: 2019-04-10 · table missing:
- report date10 April 2019
- report noFinal Report of the Receiver
- sale outcometext: Sale of the Real Property completed; sale of assets of two Companies approved by the Sale Order · scope: parcel · status: closed