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Tercon Investments Ltd - Reports
The following reports have been filed in the proceedings:
 Tenth Report of the Reciever |
December 3, 2013 | The purpose of this, the Receiver's Tenth Report, is to inform the Court on the following: (i)The status of various aspects of the Receivership Proceedings; and(ii)Receipts and disbursements for the period December 14, 2012 to November 22, 2013;And to request the granting by this Honourable Court of Orders:(iii) Approving the Dividend Assignment Agreement, as hereinafter defined; (iv)Approving the Partnership Distribution Assignment Agreement, as hereinafter defined; and (iv) Discharging the Receiver and terminating the Receivership Proceedings, each effective upon the filing with the Court by the Receiver of a certificate confirming completion of the Receiver's remaining obligations (the "Receiver's Completion Certificate"). |
| Ninth Report of the Reciever |
September 3, 2013 | The purpose of this report is to inform the Court on the following: The status of various aspects of the Receivership Proceedings; and Receipts and disbursements for the period December 14, 2012 to August 26, 2013; And to request the granting by this Honourable Court of an Order: (i)Amending various paragraphs of Orders previously issued in the Receivership Proceedings to remove or replace references to HSBC; (ii)Declaring that certain claims filed with the Receiver in accordance with the Claims Procedure Order constitute trust claims under the Builders Lien Act SBC 1997 C.45 (the "BLA"); (iii)Declaring that the claims paid by and assigned to Trisura constitute trust claims under the BLA; (iv)Declaring that other claims filed with the Receiver do not constitute trust claims under the BLA; (v) Authorizing the Receiver to pay valid trust claims; (vi)Authorizing the Receiver to pay to Trisura the amount of valid trust claims paid by and assigned to Trisura once sufficient funds have been collected from the MOT Projects; (vii)Amending the Claims Procedure Order to exclude the Teck Receipts (defined below) from the definition of Bonded Project Funds set out in the Claims Procedure Order; (viii)Releasing the balance of the Lien and Trust Reserve, if any, to be dealt with in accordance with the provisions of the Distribution Order, as amended; and (ix)Authorizing the payment by the Receiver of certain claims of former employees of Tercon from the amounts collected by the Receiver. |
| Eighth Report of the Reciever |
April 4, 2013 | The purpose of this report is to provide information to the Court to support the Receiver's request for the granting by the Court of an Order: (i) that the Receiver is not required to hold the TEAP Reserve established pursuant to paragraph 3 (h) of the Distribution Order and the Receiver is authorized to make payments to HSBC from monies previously held as the TEAP Reserve in accordance with the provisions of the Distribution Order and; (ii) authorizing the Receiver to pay , once the Alaskan Lien Claimant's Lien Claim is adequetly proven in accordance with the Claims Procedure, the Accepted Lien Amount to each of the Alaskan Lien Claimants from the FGMI Receivable upon receipt of a certificate of discharge of the Alaskan Lien Claimant's Alaskan Lien Claim. |
| Seventh Report of the Receiver |
March 18, 2013 | The purpose of this report is to provide additional information to the Court with respect to (i) changes to the form of the Order being sought by the Receiver since the Fifth Report (ii) Current estimates of project accounts, claims to date under the Trisura Bonds and registered Lien Claims (iii) Notice to parties not on the service list that have filed claims against the Trisura Bonds or that have Registered Lien Claims (iv) the involvement of Trisura in the claims adjudication process (v) the benefits of the Claims Procedure to other creditors (vi) the potential prejudice to creditors of the Claims Procedure, if any, and (vii) the proposed stay of proceedings in respect of claims against the Trisura Bonds and also the Lien Claims. |
| Sixth Report of the Receiver |
March 11, 2013 | The purpose of this report is to request the granting of the following by the Court (i) an order approving a procedure for the submission, evaluation, and adjudication of claims against Tercon or against bonds issued by Trisura Guarantee Insurance Company ('Trisura') in relation to certain Tercon Projects and (ii) an Order approving the Third, Fourth, and Fifth Report's of the Receiver and the Receiver's activities described within those reports. |
| Fifth Report of the Receiver |
March 6, 2013 | The purpose of this report is to inform the Court of the following (i) The Receiver's instructions to the Bowra Group Inc. (the 'trustee') to file assignments in bankruptcy for each of the Canadian Debtors other than TEAP and TEL and to request from the Court (ii) an Order authorizing the Receiver to pay the Trustee an additional amount of $10,000 plus HST as a third party deposit. |
| Fourth Report of the Receiver |
February 26, 2013 | The purpose of this report is to provide information on the following (i) the release of equipment to lessors in accordance with the defined Return Protocol (ii) receipts and disbursements since the Receivership date and to request (iii) the Receiver's buy-outs of certain equipment (iv) an Order approving the Asset Purchase and Sale Agreement dated Feb 26, 2013 between the Receiver and Ritchie Bros. Auctioneers. |
| Third Report of the Receiver |
February 26, 2013 | The purpose of this report is to update (i) the Chapter 15 Proceedings (ii) the sale of equipment and miscellaneous property pursuant to the APA (iii) potential transfer of property from Tercon Equipment Ltd. ('TEL) to Tercon Equipment Alaska Partnership ('TEAP') and to request (iv) permission for the Receiver to issue an application for bankruptcy against TEL and to (v) partially lift the stay of proceedings to allow for the filing of the Bankruptcy Order. |
| Second Report of the Receiver |
January 15, 2013 | The purpose of the Second Report is to provide information to the Court with respect to; (i) the Chapter 15 Proceedings; (ii) the Tercon projects; (iii) the claims against the Equipment or Miscellaneous Property; and (iv) the Notice of Application by the Receiver dated January 15, 2013, As defined in the Second Report. |
| First Report of the Receiver |
January 8, 2012 | The First Report of the Receiver in connection with: i) the activities of the Receiver since the Date of Appointment; ii) security opinions provided by independent counsel; iii) the APA between the Receiver and Ritchie Bros with respect to the Equipment and Miscellaneous property of Tercon; and iv) the request to the Court granting approval of the APA and Return Protocol, as defined within the First Report. |
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For additional information please contact the Receiver: 79 Wellington Street West Suite 2010, P.O. Box 104 Toronto, Ontario M5K 1G8 Useful Links FTI ConsultingOffice of the Superintendent of Bankruptcy Canada Wage Earner Protection Program |