On January 8, 2018, a Court Order was issued appointing B. Riley Farber Inc. (“B. Riley Farber”) as receiver (in such capacity, the “Receiver“) to, inter alia, collect outstanding commissions from transactions in which Toronto Right Choice Brokerage Inc. (formerly Re/Max Right Choice Inc.) (the “Debtor“) is or was a broker and hold such funds in trust pending further Order of the Court.
B. Riley Farber was appointed Receiver, without security, of:
- Any and all funds currently in the Debtor’s bank accounts (the “Existing Funds“), including without limitation, any and all funds affected by a Freeze Order made November 1, 2017 pursuant to section 25 of the Real Estate and Business Brokers Act, 2002 (Ontario); and
- Any and all real estate commissions owing to the Debtor (together with the Existing Funds, the “Property“)
NOTICE OF RECEIVERSHIP CLAIMS BAR DATE
Pursuant to the Receivership Claims Procedure Order granted by the Court on August 24, 2018, a copy of which can be found below, all Receivership Claims (as defined in this Order) must be received by no later than 5:00 p.m. (Toronto time) on November 16, 2018 (the “Receivership Claims Bar Date”).
The Receivership Claims Procedure Order is the court-approved mechanism that determines the universe of Receivership Claims against the Property. This Property consists of funds that were in the Debtor’s accounts at the time of the Receiver’s appointment on January 8, 2018, funds that have subsequently been collected by the Receiver and funds that are collected by the Receiver in the future.
As set out in the Receivership Claims Procedure Order (and further described in the Receiver’s First Report dated August 9, 2018, a copy of which can also be found below), the Receiver is authorized and directed by the court to rely upon insurance claims submitted to ClaimsPro LLP to determine the universe of Receivership Claims. Accordingly, failure to submit an insurance claim to ClaimsPro LLP prior to the Receivership Claims Bar Date will forever bar, extinguish, release and discharge the underlying claim from being a Receivership Claim (the substantive consequence of which is that there would be no entitlement to receive any distribution from the Receiver in respect of this underlying claim).
If you have not already submitted your insurance claims (including claims in respect of commissions), please ensure that they are received by no later than the Receivership Claims Bar Date pursuant to the instructions at recoclaims.ca.
Creditor or employee inquiries
For creditor or employee inquiries, please contact:
E: [email protected]
The case updates and court filed documents on this website are for information purposes only and you should consult your financial or legal adviser if you have any questions or concerns about your rights or obligations. Additional updates on the status of these proceedings may become available in the future.
Motion materials (Affidavits, Factums, Books of Authority)
- Application Record for Motion returnable December 8, 2017
- Affidavit of Service dated January 3, 2018
- Affidavit of Clavil Henry dated January 3, 2018
- Motion Record for Motion returnable August 24, 2018
Court orders & endorsements
- Endorsement re: Service Matter dated December 8, 2017
- Receivership Appointment Order dated January 8, 2018
- Endorsement, dated August 24, 2018
- Receivership Claims Procedure Order, dated August 24, 2018
- Ancillary Order, dated August 24, 2018