The Receiver, KPMG Inc., sought court approval for an asset purchase agreement for a medical office building, authorization for distributions to secured creditors, approval of its activities, and its discharge.
The motion also included requests to seal and unseal confidential documents.
All relief sought was unopposed.
The court applied the Soundair Principles to approve the sale, authorized payment of real estate commissions, and approved the proposed distribution to the applicants, noting that the net sale proceeds were insufficient to satisfy secured obligations.
The court also addressed the issue of HST arrears and deemed trust claims, concluding no further action was needed due to the proposed bankruptcy and the "prescribed security interest" exception.
The Receiver's activities were approved, and a limited release was granted upon filing of a discharge certificate.