Oct 22 hearing: administrator motion for NSSCC 145, NSCC 47 and NSCC 48
What happened at the hearing
- No opposition. About 13 corporations were put over to today. Owners in 10 of them organized their own meetings, and LDDC is no longer retained for them. Smaller buildings could build owner lists themselves without waiting for SIREG's list. That leaves NSSCC 145, NSCC 47 and NSCC 48.
- NSCC 47 and NSCC 48. The lawyer for the owner who had opposed said that retainer ended and the opposition was withdrawn.
- NSSCC 145. The two owner groups agreed on terms, including the cost caps.
- Keys, buildings under the Administrator. The key terms were added at the request of the trustee, AlixPartners, through its counsel. For the 24 buildings in the October 15 order plus NSSCC 145, NSCC 47 and NSCC 48, 27 in all, keys go to the Administrator, Brian Antman. He returns them to individual owners at the management office he works with, where staff check each owner's identity and document the pickup.
- Keys, former SIREG condos not under the Administrator. The trustee delivers keys to the condo corporation only after it receives written confirmation that a board was elected and a written direction from that board.
- Added clause. Counsel for Oxford 116, Oxford 117 and Perth 43 asked that the order make clear no claims remain against corporations that are not in it, because of status certificate and audit disclosure. The judge agreed. LDDC will add a clause saying all relief sought against the other corporations named in the notice of motion is abandoned and not being pursued. LDDC will settle the wording with that counsel before sending the order. What this means: when a condo corporation gives a buyer a status certificate, or its auditor prepares the financial statements, it has to disclose legal proceedings involving it. While this request was left open, those corporations could have had to report it. The new clause closes it, so buildings not under the Administrator can show nothing pending from this motion.
- Records before a board. Counsel for owners in four other corporations, with elections set for November 2 to 7, asked about getting corporation records before a board is in place. The trustee will not release records until there is a board. There was no motion on this, so the judge left it to be worked out with the trustee's counsel, who agreed to talk right after the hearing.
Costs
Cost caps (NSSCC 145). Paragraph 14 of the proposed order has NSSCC 145, NSCC 47 and NSCC 48 reimburse Owner Group members for their legal costs of this motion. For NSSCC 145, the Owner Group reimbursement "shall not exceed a cumulative maximum total of $8,000.00, inclusive of HST and disbursements." Other NSSCC 145 owners who paid Stipic Binder Drake Reynolds LLP can be reimbursed "to a cumulative maximum total of $2,000.00, inclusive of HST and disbursements." The proposed order sets no cap for NSCC 47 or NSCC 48.
What this means:
- Owner Group in NSSCC 145 (the owners who brought the motion through LDDC): once the Administrator receives proof of their fees and disbursements for this motion, the corporation reimburses them, up to $8,000 in total for the whole group, including HST and disbursements. The proposed order does not provide for reimbursement above that amount.
- Other NSSCC 145 owners who paid Stipic Binder Drake Reynolds LLP: once proof is received, the corporation can also reimburse them, up to $2,000 in total, including HST and disbursements.
- All NSSCC 145 owners: these reimbursements are paid by the corporation, not by SIREG. Together the two caps total $10,000 at most.
- NSCC 47 and NSCC 48: the proposed order sets no dollar cap on reimbursing the Owner Group's costs.
Documents
Court file BK-26-03429084-0032.
We are awaiting further direction from LDDC and the Administrator.
