Minco’s restructuring efforts would be doomed to failure if the White Knight could claim the full face value of all debt it had purchased at a substantial discount, so FFMP brought proceedings under article 12 of the CCAA to have the amount of the White Knight’s claim determined by the Court. The Quebec Superior Court (Commercial Division) (the “ Court”) concluded that the objective of the White Knight was thereafter to defeat Minco’s restructuring efforts and take the Sleb Property in payment. The White Knight also subsequently purchased claims of the mezzanine lender having a face value of approximately $14 million, for $800,000.īefore long, there was a falling out between the principals of Minco and the majority shareholder of the White Knight. To fund a plan of arrangement, complete construction and save the Sleb Property from the Bank’s Court-authorized marketing and sale process, Minco’s principals and their business associates formed a company (the “ White Knight”) that purchased all of the Bank’s claims, including the interim financing loan and the corresponding priority security created by court order, having a total face value of approximately $17.5 million, for $10.25 million. Minco obtained interim financing from its first-ranking lender, a Canadian chartered bank (the “ Bank”), which was not prepared to fund the completion of the project. Minco filed for court protection under the Companies’ Creditors Arrangement Act (the “ CCAA”) in November 2005 with debts of more than $32 million. (collectively “ Minco”), after a project in downtown Montreal (the “ Sleb Property”) fell behind schedule and over budget. Cimino Electric, Inc.We were retained by condominium developers Minco-Division Construction Inc. Jeffrey Alan Mott and Michelle Mott, individuals James Jean Russell & Valery Alena Thompson, Individually Kamel Shaker Tadros & Makram Youssef Youssef, Individuallyġ221 E 8th Street, Unit A, Upland, CA 91786ĭon Kelly, Individual and Lisa Kelly, Individualġ71 Northview Ridge Lane, P.O. Responsible Managing Officer/CEO/President Neris General Contractors, a California Corporationģ943 Irvine Blvd., #405, Irvine, CA 92602 L A Builders, Inc., a California CorporationĪnd in his capacity as manager/supervisor for Sharon Jin Yoo and in his capacity as General Partner for HY Construction, a General Partnership.ĭba Emard Electric Luke Richard Emard, an individual and RMO Ultimate Inc., And, Enrique Vera, an Individual Walter Edward Jacob Kuhlmann III, Individually And dba Amerivet Plumbing Services Rogelio Medina Vazquez., an individual and in his capacity as Responsible Managing Officer of FAST DEMOLITION, INC.Īmerivet Plumbing, Inc. Guillermo Ibaibarriaga dba Sierra Nevada Stucco and 2K Roofingĭel Norte Construction, And Trinidad Manuel Canales, an Individualĭiversified Building & Electric Company, Inc.ĭenis Andrew Maris, Individually and Doing Business as Diversified Electric Company GEHVAC and Technologies, a sole proprietorship,ĭave Cook Concrete Construction, Inc., and David William Cookīannaoun Engineers Constructors Corporation Omar Maloof, An Individual Gewargis Youkhanis Narso, an individual dba Mike Vasil, an Individual and CEO/RMO President of RMV RMV Construction, Inc., A California Corporation and Robert Holi Jeanne Worthington, an individual and Officer of and KANWAL SAJJAD RANA, an indvidual and RMO of ECS CONTRACTORS, INC.ĭale Worthington, an individual and CEO/RMO of UMAR KHALID RANA, an indvidual and CEO/RMO of ECS CONTRACTORS, INC. GEORGE ROBERT FROST AND JAMES CRAIG JACKSONĮCS CONTRACTORS, INC. MINAKO AMERICA CORPORATION DBA MINCO CONSTRUCTION
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