Ontario · Receivership (court-appointed)
The purpose of this First Report is to provide this Court with information with respect to this receivership proceeding and in support of the Receiver’s request that the Court grant an Order: (a) approving this First Report and the activities of the Receiver as described herein; and (b) directing Vdopia Inc. (“Vdopia”) to pay to the Receiver the amount of $373,731.23 with respect to an unpaid account for services rendered by Mundo prior to the Appointment Order
Court officer report · 22 September 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 filing2 verified
- secured creditorsnote: Receiver retained independent counsel to opine on validity and enforceability of RBC's security (opinion sought, status not confirmed on these pages); Receiver assisted RBC in repatriating pledged Luxembourg funds and made an interim distribution to RBC under a reimbursement agreement (no stated balance amount on these pages) · page: 8 · as of: April 9, 2019 (Appointment Order date) · debtor: Mundo Media Ltd. and affiliated Debtors · creditor: Royal Bank of Canada (RBC) · currency: CAD · security: General security interest (basis of RBC's s.243 BIA/receivership application); specific pledges over Debtors' Luxembourg bank accounts
- secured creditorsnote: HST/GST assessment under section 165 of the Excise Tax Act (deemed-trust class, quasi-governmental claim); stated 'before taking into account any penalties and interest'; disputed - Receiver filed Notice of Objection after CRA issued Notice of Assessment on March 25, 2020; matter still under CRA consideration as of report date · page: 15 · as of: 2019-12-04 · amount: 919105.72 · debtor: Mundo Media Ltd. (and related subsidiary 2518769 Ontario Ltd.) · creditor: Canada Revenue Agency (CRA) · currency: CAD