Provided by @Sophia:
Hello everyone,
As you may already be aware, an interim receiver was recently appointed over Dylan Suitor’s assets pending the hearing of a bankruptcy application against him. We are hoping for a timely realization of his assets for the benefit of his creditors, including lenders who received personal guarantees from him.
Corey reached out to the CRA to find out the answer many have been asking: is HST required when exiting properties from the CCCA?
Short answer: NO.
His reply from CRA posted below.
This site allows searching for rental court orders, i.e. finding out if a rental applicant has required being forced by court to pay rent.
Geoff asked me to post a letter he wrote regarding caution when handling offers made to 1st mortgage holders by 2nd mortgagees below them. It is not soliciting any particular action; simply stating words of caution.
Letter is attached below.
[Updated after Geoff's TH]
This is what I have gathered so far from reading (i.e. briefly scanning) Appendix C of KSV's 7th Report as well as bits I have picked up from others in the chat (Geoff, Corey, others) as well as bits from my accountant.
KSV has provide the APS (Agreement of Purchase and Sale). This is the form to be filled out and submit back to them to submit your Credit Bid. This is on their web site.
Emailed received from Justin James, Co-operators Insurance:
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These properties are insured on a blanket master policy with several other properties, once you look to move the properties into your name and assume them, we need to do a new quote for stand alone coverage for just your properties on a new policy in your name as the payee and loss payee/insured.
Thanks to Wallace for putting this together.
Date |
Please find attached Corey's Cash Flow Analysis for Multiple Properties.
These are the DIP allocations as of Aug 20, 2024.
Here you go: https://www.ratehub.ca/land-transfer-tax-ontario