Ontario · Receivership (court-appointed)
Third Report of the Receiver dated May 18,2016
Court officer report · 18 May 2016
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 filing8 verified
- cash on handnote: Stated as the balance of receipts less disbursements per the Interim Statement of Receipts and Disbursements for the period to May 18, 2016; the report does not describe it as cash on hand or a bank balance. · as at: 2016-05-18 · amount: 67349.03 · currency: CAD
- disbursementsnote: Includes receiver's fees to October 21, 2014. · since: date of the Receiver's appointment (stated as January 16, 2014) to May 18, 2016 · amount: 59619.39 · currency: CAD
- operational summaryThe receivership was reinstated on February 1, 2016. The Receiver is collecting rent from four remaining commercial tenants totalling $11,800 per month, which does not cover monthly operating costs. The Property needs significant repairs, and the Receiver proposes a sales process because it lacks funding to complete renovations.
- professional feesnote: No fee amount is stated in the report body; receiver's fees are said only to be included in total disbursements through October 21, 2014 (detail is in Appendix O, not provided). · party: Receiver (MNP Ltd.) · period: to October 21, 2014 · currency: CAD
- receipts cumulativenote: The report states the appointment date as January 16, 2014, although paragraph 1 gives the Appointment Order as June 16, 2014. · since: date of the Receiver's appointment (stated as January 16, 2014) to May 18, 2016 · amount: 126968.42 · currency: CAD
- report date18 May 2016
- report noThird Report of the Receiver
- sale outcometext: The Receiver proposes to commence a sales process for the Property, involving obtaining listing proposals, engaging a realtor, and entering into a listing agreement, with a further report to Court to obtain an approval and vesting order · scope: parcel · status: process_approved