{"id":2451,"date":"2012-01-26T20:13:00","date_gmt":"2012-01-26T20:13:00","guid":{"rendered":"http:\/\/rf.podcastfixit.com\/index.php\/2012\/01\/26\/chateau-dollard-chateau-royal-creditors\/"},"modified":"2015-06-01T19:42:06","modified_gmt":"2015-06-01T19:42:06","slug":"chateau-dollard-chateau-royal-creditors","status":"publish","type":"post","link":"https:\/\/newscoverage.org\/index.php\/2012\/01\/26\/chateau-dollard-chateau-royal-creditors\/","title":{"rendered":"Ch\u00e2teau Dollard & Ch\u00e2teau Royal creditors"},"content":{"rendered":"
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Who owes, how much and to whom?<\/p>\n<\/div>\n<\/div>\n<\/div>\n
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By Robert Frank
\nwww.thesuburban.com<\/p>\n

\nAccording to Ch\u00e2teau Dollard’s court-appointed receiver, \u00c9ric St. Amour of PriceWaterhouseCoopers, the town of Dollard des Ormeaux is, by far, Ch\u00e2teau Dollard’s largest unsecured creditor, owing the town $273,358.71. <\/p>\n

\nMayor Ed Janisczewski was sanguine about the unpaid taxes. \u201cAlthough we are not secured creditors, Dollard des Ormeaux is a preferred creditor, and we expect to collect these funds once the facility has a new owner.\u201d <\/p>\n

\nThe mayor pointed out that if the property cannot be sold commercially, \u201cit will certainly be sold at auction,\u201d if it comes to that. Ch\u00e2teau Dollard’s second-largest unsecured creditor is for unpaid Montreal-island school taxes of $80,078. <\/p>\n<\/div>\n

Royal Bank of Canada, which was attempting to sell the property on the owners’ behalf prior to the receivership order, has been ordered by Quebec Superior Court judge Louis J. Gouin to continue the sale process and solicit offers under the supervision of PriceWaterhouseCoopers’ court-appointed receiver, \u00c9ric St. Amour. <\/p>\n

\nMayor Janisczewski told The Suburban that he is optimistic that a new owner will be found for the troubled seniors residences and that residents will not be adversely affected. <\/p>\n

\nHe observed that \u201cthere is currently a surplus of eldercare space in Montreal\u201d owing to a flurry of construction several years ago, and that \u201coccupancy is at 50 per cent\u201d. <\/p>\n

\n\u201cIf these facilities had 90 per cent occupancy, they would not be experiencing financial difficulty,\u201d he concluded. However, according to Price Waterhouse Coopers, Ch\u00e2teau Dollard’s four secured creditors are owed amounts that outstrip\u2014by far\u2014amounts owed to all the unsecured creditors combined: Computershare Trust Company of Canada ($10.1 million), Revenue Quebec ($281,497) and the Commisison de sant\u00e9 et de la s\u00e9curit\u00e9 du travail ($49,357).<\/p>\n<\/div>\n

Although PriceWaterhouseCoopers did not disclose the amount that Ch\u00e2teau Dollard owes to Kingsett Canadian Real Estate Income Fund, a secured creditor, court documents show that its sister firm, Ch\u00e2teau Royal, currently owes Kingsett $15 million plus accrued interest, bringing the total owed by both residences to at least $26 million. <\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Who owes, how much and to whom? By Robert Frank www.thesuburban.com According to Ch\u00e2teau Dollard’s court-appointed receiver, \u00c9ric St. Amour of PriceWaterhouseCoopers, the town of Dollard des Ormeaux is, by far, Ch\u00e2teau Dollard’s largest unsecured creditor, owing the town $273,358.71. Mayor Ed Janisczewski was sanguine about the unpaid taxes. \u201cAlthough we are not secured creditors,<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2451","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"\nCh\u00e2teau Dollard & Ch\u00e2teau Royal creditors - Newscoverage<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/newscoverage.org\/index.php\/2012\/01\/26\/chateau-dollard-chateau-royal-creditors\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ch\u00e2teau Dollard & Ch\u00e2teau Royal creditors - Newscoverage\" \/>\n<meta property=\"og:description\" content=\"Who owes, how much and to whom? By Robert Frank www.thesuburban.com According to Ch\u00e2teau Dollard’s court-appointed receiver, \u00c9ric St. Amour of PriceWaterhouseCoopers, the town of Dollard des Ormeaux is, by far, Ch\u00e2teau Dollard’s largest unsecured creditor, owing the town $273,358.71. 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