Ontario · Receivership (court-appointed)
Nascent - Third Report of the Receiver - March 9, 2022.pdf
Court officer report · 9 March 2022
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What we verified from this filing9 verified
- cash on handnote: Represents advances made by Fiera for out-of-pocket expenses and Property carrying costs; a separate $271,227 trust account holds Pre-Construction Deposits from McMillan. · as at: 2022-02-28 · amount: 183689 · currency: CAD
- operational summaryThe Receiver, having run a marketing and sale process for the development property, negotiated a Sale Agreement with DIG Developments Inc. and is seeking court approval to complete the sale, after which it intends to seek distribution and discharge orders.
- process resultsndas: 25 · note: 20 NDAs entered during initial process plus an additional 5 NDAs after July 30, 2021 · as of: 2021-07-30
- professional feesnote: Includes HST of $6,293.67 on base fees of $48,412.88; DLA Piper (counsel) fees for same period were $58,179.50 plus $361.95 disbursements plus HST of $7,566.93, totaling $64,028.88. · party: Receiver (Grant Thornton Limited) · amount: 54706.55 · period: October 29, 2021 to February 28, 2022 · currency: CAD
- purchaserDIG Developments Inc.
- report date9 March 2022
- report noThird Report
- sale outcometext: Receiver negotiated Sale Agreement with DIG Developments Inc., pending Court approval · scope: parcel · status: pending_approval
- stalking horsestate: stated_none