appendix g - kpmg · 6. 7. it follows from grounds 5 to 6 hereof that the judgment cannot be...

Appendix G

1.

COMMONWEALTH OF THE BAHAMAS

IN THE BAHAMAS COURT OF APPEAL

(On Appeal From a Judge in Chambers)

BETWEEN

L. JEFFREY POGACHAR

PAOLA LOMBARDI

KPMGINC.

2012/SCCivApp.No. Ot..=12-

1st Appellant

2nd Appellant

(In its capacity as Receiver and Manager of New LifeCapital Corp., New Life Capital Investments Inc., New Life Capital Advantage Inc., New Life Capital Strategies Inc., 1660690 Ontario Ltd., 2126375 Ontario Inc., 2108375 Ontario Inc., 2126533 Ontario Inc., 2152042 Ontario Inc., 2100228 Ontario Inc., and 2173817 Ontario

Respondent

NOTICE OF APPEAL MOTION

TAKE NOTICE that the Court of Appeal will be moved on behalf of the

above-named Appellants on Wednesday, the 8th day of October, A. D., 2014, at

10;30 a.m. O'clock or so soon as counsel can be heard by counsel on appeal

(leave to appeal having been given on 17th September 2014 by the Honourable

Chief Justice Sir Michael L. Barnett) from the learned Chief Justice's Judgment

delivered in action 2010/Cle/gen/No. 00176 on the aforementioned date, whereby

the said Judge granted leave to the Respondent to enter Summary Judgment as

against the Appellants and other named defendants in the action and refused the

Appellants leave to serve a Defence and Counterclaim; for , an ORDER that the

Judgment be set aside or varied (as the case may be) and that the Respondent

may be adjudged to pay the Appellants' costs herein; AND on an application by

2.

the said Appellants that the 21 day stay of the Judgment's effect granted by the

said Chief Justice on 17th September 2014 may be extended (notwithstanding

the said 21 day stay period will have expired in the interim); AND for an ORDER

in any event that the effect of the said Judgment and all steps and proceedings

under or in furtherance thereof to enforce the same (or otherwise) be stayed

pending hearing and final determination of this appeal or until further order,

subject to such terms and/or conditions as the Court deems proper.

AND FURTHER TAKE NOTICE that the grounds of appeal as to substantive

matters on which the learned Judge erred in law and procedure, inter alia, are:

1. He wrongly assumed the propriety of and/or overlooked

and ignored (and as a result failed to determine) issues as

pertain to the respondent (plaintiff) receiver's status as a

foreign court-appointed receiver pursuant to the Orders

of the Ontario Supreme Court dated 17th December 2008

and 18th March 2009 ("the Receivership Orders") going

to the Court's jurisdiction ("the jurisdictional issues");

that is,

(i) whether this foreign court-appointed receiver's

ability to invoke the Court's jurisdiction suing

the Appellants and other defendants to realise

assets located in The Bahamas is governed by

The Reciprocal Enforcement of Judgments Act

(REJA); and

(ii) whether, assuming the REJA applies to Canada

and to final judgments of the Canadian Courts,

the Receivership Orders pursuant to which the

respondent foreign court-appointed receiver

("the Receiver") was authorised and empowered

to implement to realise its receivership of assets

located in The Bahamas are final judgments

(the Appellants contending they are not); and

3.

(iii) whether assuming its validity of appointment as

receiver under Canadian law, KPMG Inc. had

the requisite standing to commence an action in

its own name and a right to sue upon a cause

(or causes of action) in this jurisdiction without

leave of the Supreme Court and in accordance

with rules of Court.

2. It follows from ground 1 hereof above that inasmuch as

the Judgment does not reflect the Appellants' arguments

in support of their jurisdictional objections founded on

the REJA, and it makes no mention at all of that statute,

it is, it is submitted, not dispositive of the questions as to

jurisdictional matters and per incuriam.

3. Even if (which the Appellants do not concede) the REJA

did apply and the Receivership Orders pursuant to which

the Receiver commenced its action in The Bahamas were

final judgments, the said Judge ought nonetheless to have

satisfied himself (which he failed to do) that him being

the Judge hearing the summary judgment application was

not so improper as to create a perception of the resulting

Judgment being a predetermined outcome, given that:

(i) he had previously on 20th October 2009 on an

inter partes hearing of an application by the

respondent foreign court-appointed receiver, in

Originating Summons action 2009/Cle.gen. 1569

ordered the Receivership Orders and the Order

of the Ontario Superior Court of Justice dated

18th September 2009 be recognized, and that

FirstCaribbean International Bank (Bahamas)

Limited file an Affidavit disclosing information

about accounts held there in the names of the

4.

compames subject to the Receivership Orders

and over whose assets and property KPMG Inc

was appointed receiver and to produce to the

Receiver "copies of documents, vouchers, credit

advices, debit advices, wire transfer instructions

and confirmations, written and electronic

correspondence relating to Lexington and any

further recipients .... "; and

(ii) he was as a consequence of his Order made in

Originating Summons action 2009/Cle.gen. 1569

on 20th October 2009 functus unable to reverse

himself were he to uphold the jurisdictional

objections; indeed he was rendered more or less

likely or predisposed to rejecting objections as

to the competency of the receivership action the

foreign court-appointed receiver commenced in

this jurisdiction without leave of a Judge of the

Supreme Court and as to this Court entertaining

its summary judgment application in the action;

and

(iii) apart from having the effect of reversing his

Order made in the said Originating Summons

action on 20th October 2009, were the learned

Judge to uphold the jurisdictional objections it

would also have deprived of all legality various

proceedings in that action before Justice Turner

and the Orders he made on 27th April 2010 and

12th May 2010.

4. It follows from ground 3 hereof above that there was an

exceedingly high hurdle for the Appellants to overcome

to successfully oppose the Receiver's summary judgment

5.

application. That they were not successful in doing so is·

directly attributable to the learned Chief Justice and other

Judges both in the Originating Summons action and the

writ action in which the summary judgment application

was made, not being assisted by counsel with the law that

might have avoided them entertaining application by the

Receiver that were improper otiose and making orders

that are a nullity.

AND TAKE NOTICE that the grounds of appeal as to procedural matters on

which the learned Judge erred, inter alia, are that:

5. The said Judge in effect decided the Jurisdictional issues

against the Appellants but giving no reasons for rejecting

them, by approaching the Receiver's summary judgment

application in order to first determine its merits and then

determine whether the Appellants' application for leave

to serve a defence and counterclaim in the action having

regard to the arguments opposing the summary judgment

application should be allowed, rather than at the outset

disposing of the jurisdictional objections the Appellants

raised necessarily for his determination.

6. The learned Judge erred in granting the Receiver leave to

enter summary judgment whilst refusing the Appellants

leave to fine a Defence and Counterclaim in the action.

He ought to have upheld the objections to the propriety

of the writ action; failing that he ought to have dismissed

the summary judgment application and given leave to the

Appellants (and other Defendants in the action) to defend

and directions as to the further conduct of the action.

6.

7. It follows from grounds 5 to 6 hereof that the Judgment

cannot be permitted to stand and should be set aside as it

works a substantial injustice to the Appellants.

AND FURTHER TAKE NOTICE that the Appellants reserve the right to

amend and/or add to the grounds of appeal upon transcripts of the hearings in

the Court below becoming available.

Wherefore, the Appellants pray, and will ever pray:

( 1) that the said Judgment be set aside or varied and the Respondent may be adjudged to pay the Appellants' costs of the proceedings; and

(2) that they may have the costs of this appeal.

DATED the 8th day of October, A. D., 2014.

To: The Respondent and

Suite B, Regent Centre East, East Mall & Explorers Way, Freeport, G. B., The Bahamas. Attorneys for the Appellants.

McKinney, Bancroft & Hughes, its Attorneys.

COMMONWEALTH OF THE BAHAMA


(On appeal from a Judge in Chambers)

BETWEEN

L. JEFFREY POGACHAR

1st Appellant

p AOLA LOMBARDI 2nd Appellant

AND

KPMGINC. (In its capacity as Receiver and Manager of New LifeCapital Corp., New Life Capital Investments Inc., New Life Capital Advantage Inc., New Life Capital Strategies Inc., 1660690 Ontario Ltd., 2126375 Ontario Inc., 2108375 Ontario Inc., 2126533 Ontario Inc., 2152042 Ontario Inc., 2100228 Ontario Inc., and 2173817 Ontario Inc.)

Respondent

NOTICE OF APPEAL MOTION

2014/SCCivApp./No. Oz::f2.

Chambers, Suite B, Regent Centre East, Freeport, G. B., The Bahamas. Attorneys for the Appellants.

' 1.


IN THE BAHAMAS COURT OF APPEAL (On Appeal From a Judge in Chambers)

BETWEEN

cou.a oF°AP-PfAL Registry

u 8 OCT 2014 CLAUGHTON HOUSE

SHIRLeY & CHARL01TE STREEr NASSAU. BAHAMAS "

L. JEFFREY POGACHAR

PAOLA LOMBARDI

KPMGINC.

201~CCivApp.No. 02.=f2.

1st Appellant

2nd Appellant

(In its capacity as Receiver and Manager of New LifeCapital Corp., New Life Capital Investments Inc., New Life Capital Advantage Inc., New Life Capital Strategies Inc., 1660690 Ontario Ltd., 2126375 Ontario Inc., 2108375 Ontario Inc., 2126533 Ontario Inc., 2152042 Ontario Inc., 2100228 Ontario Inc., and 2173817 Ontario Inc.)

Ex Parle SUMMONS

... RECEIVED

0 8 OCT 2014

the Court of Appeal on Wednesday, 8th October 2014, at 4:00 p.m. o'clock or

so soon as counsel can be heard by counsel for the above-named Appellants, on

an application pursuant to Rule 27(4) of The Court of Appeal Rules, 2005, for

an Order that pending determination of the Appellants' appeal or further order

the 21 day stay of effect of the Judgment in action 2010/Cle/gen.100176 granted

by the Honourable Chief Justice Sir Michael L. Barnett 17th September 2014

may be extended (notwithstanding that the said 21 day stay period will have

expired in the interim); AND for an ORDER in any event that the effect of the

said Judgment and all steps and proceedings under or in furtherance thereof to

2.

enforce the Judgment as against the Appellants or either of them (or otherwise)

be stayed pending determination of this appeal or further order, subject to such

terms and/or conditions as the Court deems proper.

AND that provision be made for the costs of this application.

TAKE NOTICE that the Appellants at the hearing of the application will

rely on pleadings and other documents used in proceedings before the learned

Chief Justice as well as the Judgment and the Affidavit of Keith 0. Major, Jr.

filed herein, a copy of which is served herewith.

DATED this 8th day of October, A. D., 2014.

~ ' • • " .... • t• "' ~ \ '· ~ •

REGISTRAR

This Summons was taken out by Maurice 0. Glinton & Co. of and whose address for service is: Suite B, Regent Centre East, The Mall, Freeport, Grand Bahama, The Bahamas, Attorneys for the within-named Appellants.



(On appeal from a Judge in Chambers)

BETWEEN

L. JEFFREY POGACHAR

1st Appellant

PAOLA LOMBARDI 2nd Appellant

AND

KPMGINC. (In its capacity as Receiver and Manager of New LifeCapital Corp., New Life Capital Investments Inc., New Life Capital Advantage Inc., New Life Capital Strategies Inc., 1660690 Ontario Ltd., 2126375 Ontario Inc., 2108375 Ontario Inc., 2126533 Ontario Inc., 2152042 Ontario Inc., 2100228 Ontario Inc., and 2173817 Ontario Inc.)

Respondent

Ex PARTE SUMMONS

2014/SCCivApp./No. OJ."Y..

Chambers, Suite B, Regent Centre East, Freeport, G. B., The Bahamas . . Attorneys for the Appellants.

1.

COMMONWEALTH OF THE BAHAMAS 2012/SCCivApp. No. 0272 IN THE BAHAMAS COURT OF APPEAL

(On Appeal From a Judge in Chambers)

BETWEEN

\\\

L. JEFFREY POGACHAR 1st Appellant


KPMGINc. (In its capacity as Receiver and Manager of New LifeCapital Cor.p., . _ . 4 , ••

New Life Capital Investments Inc., New Life Capital Advantage Inc., New Life Capital Strategies Inc., 1660690 Ontario Ltd., 2126375 Ontario Inc., 2108375 Ontario Inc., 2126533 Ontario Inc., 2152042 Ontario Inc., 2100228 Ontario Inc., and 2173817 Ontario Inc.)

~

AFFIDAVIT of Keith 0. Major, Jr.

Respondent

'\,

~ ~ EITH 0. MAJOR, JR. of Yamacraw Constituency in the eastern district

._.__~the Island of New Providence, one of the Islands of the Commonwealth of

The Bahamas, Law Student Intern, make Oath and say as follows:

1. I am a Law Student Intern in the firm of Deleveaux Godet & Co. which

is instructed on behalf of the Appellants in relation to an application to

this Honourable Court for interim relief by attorneys Mrs. Rionda Godet

of this firm and Mr. Maurice 0. Glinton of Maurice 0. Glinton & Co .. I

am authorised by the said attorneys to make this Affidavit in support of

the said application pursuant to a Summons filed in the appeal for interim

relief as mentioned therein.

2.

2. Save where otherwise specifically noted I make this Affidavit from my

own knowledge gained by me in my aforesaid capacity. Where the

contents hereof consist of my own knowledge, they are true; and where

the said contents consist of information relayed tome by other persons or

derived from what is contained in documents not prepared by me, they

are true to the best of my information and belief.

3. The present application has taken on an urgency for a number of reasons

not the least of which is the certain hardship the Appellants will suffer if

they are to give up possession of Condominium Unit Al-4, Ocean Club

Residence and Marina Phase I, Paradise Island, as required by the Chief

Justice's Judgment of 17th September 2014 Moreover, I am informed by

the said attorneys that the financial circumstances which the Appellants • • • • • - ~-· .#. • ' •

have faced since being denied access to money from which to pay for

their upkeep, they have had to depend on the financial support of their

parents and other close relatives to meet legal expenses they are incurring

in defending the litigation both in The Bahamas and in Canada.

4. I am informed by Mrs. Godet who was present when the Judgment was

delivered that his Lordship the Chief Justice appreciated the seriousness

of the circumstances the Appellants would be facing once the Judgment

took effect; and thus on Mr. Glinton's immediate application on behalf of

the Appellants for leave to appeal and for a stay of the Judgment's effect

pending determination of an appeal to this Court for 21 days, the Chief

Justice unhesitatingly granted both applications despite the Respondent's

counsel strong opposition to the grant of such stay. Moreover the said

Judge openly expressed concern that that part of his Judgment upholding

the foreign court-appointed receiver's standing to maintain the actions in

his own name could well be upset on appeal; therefore, it was desirable

that there be a further review of the legal position by this Court and in

the meantime the balance of convenience favours the grant of a stay if to

do otherwise, and the Appellants succeed on appeal, harm could ensue

that is potentially irreversible. A copy of opposing Counsel"s initial draft

Judgment Order is produced exhibited hereto marked "KM l".

3.

5. From information I have been given about the history of the proceedings

which concluded with the Chief Justice's Judgment giving leave to the

respondent foreign court-appointed receiver to enter summary judgment,

I believe these cases commenced in this jurisdiction at the instance of a

foreign court-appointed receiver that is a body corporate, raises issues of

public importance other than the fact of having a corporate personality.

6. Separate and apart from the jurisdictional issues (only some of which I

am told the Chief Justice addressed in his Judgment) the conclusions the

learned Judge arrived at regarding the cause (or causes) of action upon

which the foreign court-appointed receiver, sued required interpretation

of procedural rules and application of principles of pleadings in relation

to a case that seemed ill-suited to Ord. 14 judgment, even if the Receiver

survived jurisdictional objections to its standing to maintain the action.

7. A principal issue which occupied the Judgment and on which I am told

by the said attorneys the Chief Justice permitted the parties additional

time to research the answer to was: whether given the date of the plaintiff

foreign court-appointed receiver's Statement of Claim in the action, filed

in the Supreme Court on 28th November 2012, KPMG Inc. could invoke

a cause of action it did not possess at the date of its Writ commencing the

action on 21st May 2010 and indorsed, inter alia, as follows:

"THE PLAINTIFF CLAIMS:

1. The sum of US$7,093,057.00 being monies of the Plaintiff had and received by the Defendants without consideration.

2. Alternatively damages for the misappropriation of the Plaintiff's assets by the Defendants.

4. A declaration that all monies received by the Defendants or any of them from the New Life bank accounts are held by them on constructive trust for the Plaintiff."

8. Obviously a claim for Il}Q.ney had and received raises questio~s as to the

nature and origin of this Plaintiffs (the respondent) title to the assets.

4.

9. The learned Judge's obvious prudence and caution in the circumstances

of the factual and procedural history of the foreign court-appointed

receiver notwithstanding, from Mrs. Godet and Mr. Glinton's perspective

it is only right, having regard to the impact of the said Judgment and the

Orders that were previously made in the writ action and the Originating

Summons action by the Chief Justice and Mr. Justice Turner which only

this Court has the power to remedy, that the said Judgment and Orders

that the Court below lacked jurisdiction to make, be set aside.

10. The said attorneys have informed me based on their understanding of the

current relevant legal position that there is a good likelihood that the

Appellants' appeal will succeed, if only to the extent that the Judgment is

varied by this Court ordering that the leave given the Respondent to enter

summary judgment in the action as against the Appellants be set aside,

and granting the Appellants leave to defend the action and permitting

them to serve a Defence and Counterclaim and remitting the case back to

a Judge of the Supreme Court for a proper hearing and determination on

the merits in accordance with any other directions of this Court as to the

further conduct of the action.

11. In the premises, I respectfully urge this Honourable Court on behalf of

the Appellants to accede to their application and grant the relief ex parte

as prayed in their Summons.

SWORN to at Nassau, N. P.,)

The Bahamas, this Sth ctaf i of October, A. D., 2014.)

BEFORE

:.,, : .._ - -This Affidavit is filed on behalf of the within-named Appellants, ~- -



10n Appeal From a Judge in Chambers)

BETWEEN

L • .JEFFREY POGACHAR

PAOLA LOMBARDI

KPMG INC.

2012/SCCivApp .No. 0272

1st Appellant

2nd Appellant

(In its capacity as Receiver and Manager of New LifeCapital Corp., New Life Capital Investments Inc., New Life Capital Advantage Inc., New Life Capital Strategies Inc., 1660690 Ontario Ltd., 2126375 Ontario Inc., 2108375 Ontario Inc., 2126533 Ontario Inc., 2152042 Ontario Inc., 2100228 Ontario Inc., and 2173817 Ontario Inc.)

Respondent

CERTIFICATE

THIS is exhibit "KM l" referred to in the Affidavit of Keith 0. Major, Jr. sworn this 8th day of October, A. D., 2014.

BEFORE ME,

COMMONWEALTH OF THE BAHAMAS 20 l O/CLE/gen

IN THE SUPREME COURT No. 00176

Common Law & Equity Division

RETWREN

KPMG INC. (In its capacity as the Receiver and Manager of New Life Capital Corp, New Life Capital Investments Inc., New Life Capital Advantage Inc., New Life Capital Strategies Inc., 1660690 Ontario Ltd., 2126375 Ontario Inc., 2108375 Ontario Inc., 2126533 Ontario Inc., 2152042 Ontario Inc., 2100228 Ontario Inc. and 2173817 Ontario Inc.)

Plaintiff AND

L. JEFFREY POGACHAR

1st Defendant AND

PAOLA LOMBARDI

2°d Defendant

AND

LEXINGTON CONSUL TING INC.

3rd Defendant AND

AMARCORD INTERNATIONAL INC.

4th Defendant AND

FALLSVIEW INC.

5th Defendant AND

FHC INTERNATIONAL INC.

6th Defendant

ORDER

Dated the 17th day of September, A.D., 2014

BEFORE HIS LORDSIDP Sir Michael Barnett, Chief Justice of the Supreme Court of the Commonwealth of The Bahamas.

UPON READING the Amended Summons filed herein on the pt October, 2013;

AND UPON READING the Affidavits of J. Bradley Butcher filed herein on the 2151 May, 2013 and the 17th March, 2014;

AND UPON READING the Affidavits of Aubrey Kauffman filed herein on the 21st November, 2013 and the 17th March, 2014;

AND UPON READING the Affidavits of Paola Lombardi filed herein on the 16th September, 2013 and the 2nd October, 2013;

AND UPON READING the Pleadings in the Action;

AND UPON HEARING Mrs. G. Diane Stewart along with Mrs. Justine A. Smith of Counsel for the Plaintiff and Mr. Maurice Glinton & Mrs. Rionda Deleveux-Godet jointly for the First Defendant and Mrs. Rionda Deleveaux-Godet for the Second, Third, Fourth, Fifth and Sixth Defendants.

IT IS HEREBY ORDERED THAT:-

1. Summary Judgment be granted to the Plaintiff against:-

1.1 The First & Second Defendants jointly and severally for:-

( a) The sum of $7,093,057.00;

(b) Damages for misappropriation, conversion, and breaches of statutory,

common law and fiduciary duties and duties of care;

1.2 The Third Defendant for:-

(a) The sum of $7,093,057.00;

(b) Damages for misappropriation, conversion and breach of fiduciary duty;

1.3 The Fourth Defendant for:-

(a) The sum of $7,093,057.00;

2

;

( b) Damages for misappropriation, conversion and breach of fiduciary duty;

1.4 The Fifth Defendant for:-

(a) The sum of $1.1 million;

( b) Damages for misappropriation, conversion and breach of fiduciary duty;

1.5 The Sixth Defendant for:-

(a) The sum of $2.7 million;

(b) Damages for misappropriation, conversion and breach of fiduciary duty;

( c) Vacant possession of Condominium Unit A 1-4, Ocean Club Residences and

Marina Phase l on Paradise Island in The Bahamas.

1.6 The Defendants, jointly and severally for:-

( a) Consequential and special damages m the sum of $3,852,000.00

representing the fees of the Receiver and those of its legal counsel as at

September 30, 2012;

(b) An injunction restraining the Defendants whether by themselves or each of

them, or by their servants or agents or employees or otherwise, howsoever

from withdrawing, dissipating, disposing of, transferring or dealing in any

way with any funds or assets belonging to the New Life Companies;

( c) A declaration that all monies received by the Defendants or any of them

from the New Life Companies' bank accounts are held by them on

constructive trust for the Plaintiff;

3

( d) A declaration that the Plaintiff is entitled to trace such monies and/or the

proceeds thereof and/or any assets upon which the said monies were

expended;

\ c) An accounting uf monies taken or removed from the New Life Companies

by the Defendants;

( t) Payment to the Plaintiff of all sums found due and owing by the Defendants

or any of them;

(g) Interest.

2. Leave to file and serve the Defence and Counterclaim exhibited to the affidavit of Paola

Lombardi out of time is refused. ·

3. The Defendants be granted leave to appeal the judgment of the Chief Justice made on the 17th

September, 2014.

4. The Defendants be granted a stay of the said judgment pending the determination of an appeal

to the Court of Appeal for a period of twenty-one (21) days from the date hereof.

5. The Defendants shall pay the Plaintiff's costs of the action such costs to be taxed if not agreed.

BY ORDER OF THE COURT

REGISTRAR

4


IN THE BAHAMAS COURT OF APPEAL (On appeal from a Judge in Chambers)

BETWEEN

L. JEFFREY POGACHAR

1st Appellant


KPMG INC. (In its capacity as Receiver and Manager of New LifeCapital Corp., New Life Capital Investments Inc., New Life Capital Advantage Inc., New Life Capital Strategies Inc., 1660690 Ontario Ltd., 2126375 Ontario Inc., 2108375 Ontario Inc., 2126533 Ontario Inc., 2152042 Ontario Inc., 2100228 Ontario Inc., and 2173817 Ontario Inc.)

Respondent

CERTIFICATE

2014/SCCivApp./No. 0272.

RIO ND A y. GOD ET

DELEVEAUX GooET & Co. Counsel and Attorneys No. 72 Nassau Street.

New Providence The Bahamas.

COMMONWEALTH OF THE BAHAMA IN THE BAHAMAS COURT OF APPEAL (On appeal from a .Judge in Chambers)

BETWEEN

L . .JEFFREY POGACHAR

lst Appellant


KPMG INC. (In its capacity as Receiver and Manager of New LifeCapital Corp., New Life Capital Investments Inc., New Life Capital Advantage Inc., New Life Capital Strategies Inc., 1660690 Ontario Ltd., 2126375 Ontario Inc., 2108375 Ontario Inc., 2126533 Ontario Inc .• 2152042 Ontario Inc., 2100228 Ontario Inc., and 2173817 Ontario Inc.)

Respondent

AFFIDAVIT

of Keith 0. Major, Jr.

2014/SCCivApp./No. 0272

~~~~ RIONDA y. GODET

DELEVEAux GonET & Co. Counsel and Attorneys No. 72 Nassau Street.

New Providence The Bahamas.

Appendix H

1 1 COMMONWEALTH OF THE BAHAMAS 2 IN THE COURT OF APPEAL 3 SCCivApp & CAIS No. 272 of 2014 4 5 L. JEFFREY POGACHAR 6 1st Appellant 7 PAOLA LOMBARDI 2nd Appellant 8 And 9 KPMG INC. 10 (In its capacity as Receiver and Manager of New Life Capital Corp., New Life Capital Investments Inc., 11 New Life Capital Advantage Inc.,New Life Capital Strategies Inc., 1660690 Ontario Ltd., 2126375 12 Ontario Inc., 2108375 Ontario Inc., 2126533 Ontario Inc., 2152042 Ontario Inc., 2100228 Ontario Inc., 13 and 2173817 Ontario Inc.) 14 Respondent 15 16 (Substantive Appeal) 17 18 Before: The Hon Dame Anita Allen, President, DBE The Hon Mrs Justice Crane-Scott, JA 19 The Hon Mr Justice Jones, JA 20 21 Ms Rionda Godet, holding brief for Mr Maurice Glinton, QC and Mr Keith Major, Counsel 22 for Appellants Ms Diane Stewart, with Ms Justine Smith, Counsel for 23 Respondent 24 25 26 October 2016

2 1 The oral judgment of the court was delivered by 2 Dame Anita Allen, P, DBE: 3 Having granted Ms Rionda Godet, Mr Maurice Glinton, 4 QC and Mr Keith Major leave to withdraw as counsel for the 5 appellants and there being no appearance for or on behalf of 6 the appellants, we dismiss the appeal pursuant to rule 31 of 7 the Court of Appeal Rules, 2005. 8 The costs of the appeal up to today's appearance are 9 awarded to the respondents, to be taxed if not agreed. 10 11 12 13 14 Dated this 26th day of October, 2016 15 16 ______________________ 17 DAME ANITA ALLEN, P, DBE 18 19 20 21 22 23 ss 24 25

Appendix I

Appendix J

Appendix K

Appendix L

LARRY ROBERTS

ANDREA BROWNRIGG

SILVINA ANDREWS

PAUL ANTONAS

BRIAN AUSTIN

JIM BERNARD

STUART HALBERT

TROY JOHNSON

PHILLIP KEMP

MONICA KNOWLES

PRINCE LEWIS

SARA PARKER

P. JASON WONG

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EXCLUSIVE

EXCLUSIVE

EXCLUSIVE

EXCLUSIVE

MARY ZERVOS

LARRY ROBERTS

ANDREA BROWNRIGG

SILVINA ANDREWS

SONYA ALVINO

PAUL ANTONAS

BRIAN AUSTIN

JIM BERNARD

STUART HALBERT

ANA WASSITSCH

TROY JOHNSON

PHILLIP KEMP

MONICA KNOWLES

PRINCE LEWIS

SARA PARKER

P. JASON WONG

LUXURY IS OUR BUSINESSRELATIONSHIPS. EXPERTISE. QUALITY.

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Appendix M

Appendix N

Appendix O

Appendix P

Appendix Q

Appendix R

From: Montgomery, Tim NTo:Cc: Meredith, Heather L.; Brearton, NickSubject: New Life Capital et al. - Investor Loan AgreementDate: Thursday, July 18, 2019 8:07:00 AMAttachments: - Investor Loan Agreement.pdf

Investor Loan Summary - Draft for discussion purposes - July 18, 2019.pdf

As you are aware, KPMG Inc. was appointed receiver and manager (the “Receiver”) of New LifeCapital Corp et al. (“New Life”) pursuant to Orders of the Ontario Superior Court of Justice(Commercial List) (the “Court”) dated December 17, 2008 and March 18, 2009. As per the attached agreement dated October 19, 2011 (the “Investor Loan Agreement”), theReceiver borrowed a total of $100,000 from three individual investors (the “Investor Loan”), being

and yourself (the “Investors”). On December 9, 2011, the Receiver repaid50% of the principal amount borrowed (i.e. $50,000) plus accrued interest at a simple interest rateof 12% in accordance with section (vii) of the Invest Loan Agreement. The cumulative interestrepayment totaled $821.92, accruing from October 20, 2011 to December 9, 2011. As per the Receiver’s books and records, the remaining 50% of the Investor Loan plus accruedinterest has not been repaid. The Receiver has sold the remaining assets in the estate (except fortwo watches that are due to be auctioned in September, 2019), principally a condo located in theBahamas, and will shortly be applying to Court to request its discharge and approval of theoutstanding professional fees, among other things. As part of this application, which we aretargeting to occur by September, 2019, the Receiver will request approval to repay the remaining50% of the Investor Loan plus accrued interest on that amount from October 20, 2011 to the date ofsettlement. The Investors will be served with the relevant Court materials in advance of a court date. Attached is a summary of the amount outstanding by Investor as at July 18, 2019. Please confirmyour agreement to the amount of principal and interest outstanding as at July 18, 2019 assatisfaction in full of the Receiver’s obligation to you pursuant to the Investor Loan Agreement as atthat date (i.e. July 18, 2019). For clarity and subject to Court approval, the Receiver will provide anupdated payout schedule as at the date of settlement to adjust for the incremental interest. The Receiver has copied Heather Meredith from McCarthy’s Tétrault LLP, former representativecounsel for various New Life investors, into this email. The Receiver has mailing addresses for both

dating back to 2011, however, if you have more up to date contactinformation for those individuals then please forward them onto the Receiver. If you do not, theReceiver will be sending out this correspondence by registered mail shortly. If you have any queries regarding the above or the attached payout schedule then please do nothesitate to contact me on the details below. Many thanks,

mailto:[email protected]

Tim Tim Montgomery Senior Manager, Deal Advisory KPMG LLP 333 Bay Street, Suite 4600Toronto, Ontario, M5H 2S5T 416 777 8615M 416 303 [email protected]

All figures in CAD

Transaction Date

Total

Investor Loan 1 20-Oct-11 40,000.00 30,000.00 30,000.00 100,000.00 50% Principal Repayment 2 9-Dec-11 (20,000.00) (15,000.00) (15,000.00) (50,000.00) Interest Repayment - 50 days 3 9-Dec-11 328.77 246.58 246.58 821.92 Principal Outstanding 20,000.00 15,000.00 15,000.00 50,000.00 Accrued Interest - 20-Oct 11 to 19-Oct-18 4 19-Oct-18 16,800.00 12,600.00 12,600.00 42,000.00 Accrued Interest - 20-Oct-18 to 18-Jul-19 4 18-Jul-19 1,788.49 1,341.37 1,341.37 4,471.23 Amount Due as at July 18, 2019 5 38,588.49 28,941.37 28,941.37 96,471.23

Notes1) Principal amount borrowed by the Receiver as per the Investor Loan Agreement dated October 19, 2011

5) Amount due as at July 18, 2019 subject to Court approval. Incremental interest will accrue until the date of settlement.

3) Interest repayment at a simple interest rate of 12% on 50% of the initial amount borrowed. Interest accrued from October 20, 2011 to December 9, 2011

Summary of Investor Loans

DRAFT FOR DISCUSSION PURPOSES ONLYNEW LIFE CAPITAL CORP. ET AL

2) Prinicpal repayment by the Receiver as per section (vii) of the Investor Loan Agreement

4) Accrued interest at a simple interest rate of 12% on the remaining 50% of the initial principal loan. Interest has accrued from October 20, 2011 to July 18, 2019

Appendix S

KPMG Inc. Bay Adelaide Centre 333 Bay Street Suite 4600 Toronto ON M5H 2S5 Canada

Telephone (416) 777-8500 Fax (416) 777-3364 Internet www.kpmg.ca

KPMG Inc. is a subsidiary of KPMG LLP, a Canadian limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”) a Swiss entity.

Canada Revenue Agency 1050 Notre Dame Ave Sudbury, ON P3A 5C1 April 5, 2019 Dear Sir / Madame, Re: New Life Capital Investments Inc. – (the “Company”) – BN81293-4545 RC001, RT001 and RT002

KPMG Inc. was appointed receiver and manager (the “Receiver”) of New Life Capital Investments Inc. and several related entities, as listed in Appendix A, pursuant to an order dated December 17, 2008 (the “Appointment Order”). A copy of the Appointment Order is attached for your reference.

The Receiver has filed the Company’s corporate tax returns under business number 81293-4545 RC001 for the period December 17, 2008 (i.e. the date of appointment) to December 31, 2011.

The Receiver has also filed the Company’s sales tax returns under business number 81293-4545 RT001 for the period December 17, 2008 to December 31, 2011, resulting in a cumulative refund position of $128,826.51. In addition, the Receiver has filed nil returns under business number 81293-4545 RT002 for the period December 17, 2008 to December 31, 2014.

The Receiver understands that CRA is of the view that Investments Inc. was not involved in commercial activities and that the refund in relation to sales tax will therefore not be paid. In light of this position and the integrated nature of the Company and its related entities operations, the Receiver does not intend to file any further corporate or sales tax returns for the Company or its related entities as listed at Appendix A.

The Receiver will shortly be seeking its discharge and will include Canada Revenue Agency on the service list.

If you have any queries regarding the above then please contact the undersigned on 416-777-8615.

Yours truly,

KPMG Inc. Solely in its capacity as Court Appointed Receiver of New Life Capital et al.

Per: Tim Montgomery Vice President

Appendix A

New Life Capital Corp. 1660690 Ontario Inc. New Life Capital Advantage Inc. New Life Capital Strategies Inc.

Appendix T

Appendix U

1660690 Advantage Advantage Investments Strategies COMBINEDCapital Corp. Ontario Ltd. Inc. Inc. - in Trust Inc. Inc. TOTAL

RECEIPTS:Proceeds from Company bank accounts $57,167.88 $2,614.61 $327,177.35 $8,615.14 $459,489.83 $423,032.75 $1,278,097.56Transfer from New Life Capital Strategies (US) 374,036.00 374,036.00 Transfer from New Life Investments (US) 460,515.00 460,515.00 Transfer from New Life Capital Strategies (CDN) 10,000.00 10,000.00 Transfer from 1660690 Ontario Ltd. (US) 37,172.10 37,172.10 Transfer from 1660690 Ontario Ltd. (CDN) (2,530.00) 2,530.00 - Transfer from Advantage to Strategies acct ($67,667.91) 67,667.91 - Sale of Fort Erie Property 360,000.00 360,000.00 Loan Proceeds - Receiver's Certificates 100,000.00 100,000.00 Proceeds from Amex Bank of Canada 22,053.78 22,053.78 Auction sale proceeds of assets 18,260.87 18,260.87 Refund of Ceridian Payroll Costs/Deposit 4,773.97 550.00 5,323.97 Deposit interest 64.44 0.69 165.80 2.86 87.34 142.73 463.86

Total Receipts 102,320.94 85.30 $299,927.34 8,618.00 1,764,128.17 490,843.39 $2,665,923.14

DISBURSEMENTS:Receiver's fees 27,246.86 1,027,347.62 337,916.61 1,392,511.09 Legal fees 64,672.55 10,751.84 475,447.39 112,004.65 662,876.43 Insurance premiums - portfolio 70,062.17 8,456.23 78,518.40 Rent 6,940.50 6,940.50 Asset Appraisal 1,500.00 1,076.63 2,576.63 HST paid 4,592.00 3,217.79 102,228.66 22,659.43 132,697.88 Receiver's filing fee 70.00 70.00 420.00 (1) 70.00 70.00 70.00 770.00 The Printing House - scanning 2,305.59 2,305.59 Data room service provider 5,700.00 5,700.00 Insurance - head office (59.40) 2,897.00 2,343.60 5,181.20 Advertising 8,227.67 8,227.67 Maintenance - Fort Erie 8,214.20 8,214.20 Locksmith 217.19 217.19 Commission on sale of assets and expenses 9,939.13 22,680.00 32,619.13 Property taxes 4,931.46 4,931.46 Corporate taxes - - 2008 T4 preparation cost 75.59 75.59 Redirection of mail 705.00 405.00 1,425.00 2,535.00 Bank charges 165.78 165.78 Courier charges 10.64 10.64 Trust Claim 180,000.00 180,000.00 Loan Principal Repayment 50,000.00 50,000.00 Loan Interest Payment 821.93 821.93 Transfer to New Life Investments (US) 60,000.00 60,000.00 Transfer to New life Capital Investment CDN) 10,000.00 10,000.00

97,880.37 70.00 291,698.66 8,526.23 1,763,301.76 486,419.29 2,647,896.31

Excess of Receipts over Disbursements - $CDN $4,440.57 $15.30 $8,228.68 $91.77 $826.41 $4,424.10 $18,026.82

Notes:(1) Receiver's filing fees for the five 21 Companies were paid from the Advantage Inc. bank account as those entities relate to the Capital

Advantage Program.(2) The bank accounts established by the Receiver bear interest and is calculated as Royal Bank Prime less 3%.

NEW LIFE CAPITAL CORP. ET AL

Combined Statement of Receiver and Manager's Receipts and Disbursementsfor the period December 17, 2008 to July 31, 2019

CDN Accounts

Appendix V

1660690 Investments Strategies COMBINEDOntario Ltd. Inc. Inc. TOTAL

RECEIPTS:Proceeds from Company bank accounts $53,125.23 $227,870.56 $1,192,493.41 $1,473,489.20Proceeds from Bahamian Bond 957,277.93 957,277.93 Transfer from New Life Investments CDN 58,989.27 58,989.27 Sale of vehicles 265,000.00 265,000.00 Policy rescission refunds - Mass Mutual 276,097.50 276,097.50 Deposit interest 4,427.93 953.06 1,559.19 $6,940.18Premium refund 835.00 $835.00Death benefit - ING policy #1560230 168,690.56 $168,690.56Death benefit - ING policy #1560231 203,892.84 36,263.63 $240,156.47Sale proceeds - Pacific Life 764,970.00 $764,970.00Sale proceeds - AGI #34085L 145,200.00 $145,200.00Sale proceeds - ING #223(Advantage) 43,985.00 $43,985.00Sale proceeds - Bahamian Condo 1,850,000.00 $1,850,000.00Miscellaneous Refund - Bond Fee 2,500.00 $2,500.00

Total Receipts $2,472,656.56 $2,322,421.95 1,459,052.60 $6,254,131.11

DISBURSEMENTS:Insurance premiums - portfolio 42,348.32 1,336,408.48 687,452.97 2,066,209.77

Carrying costs - Condo:Insurance 37,073.18 54,893.84 11,196.44 103,163.46 Property tax 301,263.59 47,200.00 348,463.59 Property association dues 166,443.01 103,335.03 269,778.04 Maintenance and utilities 25,060.33 23,183.93 4,466.28 52,710.54

Sub-total 529,840.11 228,612.80 15,662.72 774,115.63

Advantage Investors Distribution re Death Benefits 325,987.96 325,987.96 Distribution re ING #223 (Advantage) 32,487.00 32,487.00 Data Room service provider 4,631.75 10,309.08 14,940.83 Consulting - Proverian 170,782.15 170,782.15 Realty Commission - Bahamas 124,320.00 124,320.00 Stamp Duty - Bahamas 92,500.00 56,745.00 149,245.00 Community Enhancement Fee 10,360.00 10,360.00 Restoration of FHC 5,725.00 5,725.00 Freight re Watches 5,194.00 5,194.00

Legal fees:Bingham McCutchen 5,127.01 28,291.15 1,343.30 34,761.46 Alexiou, Knowles & Co 27,652.26 27,652.26 McKinney, Bancroft & Hughes 91,825.27 86,411.18 288,229.90 466,466.35 Schellenberg Wittmer 5,653.85 5,653.85 Fasken 20,774.57 Florida 10,700.00 10,700.00

Sub-total 117,726.85 114,702.33 333,579.31 566,008.49

Service charges re wire payment 1,149.76 8,925.66 2,546.03 12,621.45 Miscellaneous Fees 1,732.96 1,732.96

Transfer to New Life Capital Investments 450,000.00 360,000.00 810,000.00 Transfer to New Life Capital Advantage 29,990.72 29,990.72

Total Disbursements 1,323,994.43 2,319,740.50 1,455,986.03 5,099,720.96

Excess of Receipts over Disbursements - USD $1,148,662.13 $2,681.45 $3,066.57 $1,154,410.15

Note:(1) The bank accounts established by the Receiver bear interest, on balances in excess of $100,000, based on the

average 90 day U.S. T-Bill rate ("T-Bill Rate"), as follows: for balances between $100,000 and $499,999, interest is paid at 65% of the T-Bill Rate; for balances in excess of $500,000, interest is paid at 72% of the T-Bill Rate.

NEW LIFE CAPITAL CORP. ET AL

Combined Statement of Receiver and Manager's Receipts and Disbursementsfor the period December 17, 2008 to July 31, 2019

USD Accounts

Appendix W

Court File No. 07-CL-7832

ONTARIO SUPERIOR COURT OF JUSTICE

(COMMERCIAL LIST)

BETWEEN:

ONTARIO SECURITIES COMMISSION

Applicant

- and -

NEW LIFE CAPITAL CORP., NEW LIFE CAPITAL INVESTMENTS INC., NEW LIFE CAPITAL ADVANTAGE INC., NEW LIFE CAPITAL STRATEGIES INC., 1660690 ONTARIO

LTD., 2126375 ONTARIO INC., 2108375 ONTARIO INC., 2126533 ONTARIO INC., 2152042 ONTARIO INC., 2100228 ONTARIO INC. and 2173817 ONTARIO INC.

Defendants

AFFIDAVIT OF NICHOLAS BREARTON DATED AUGUST 29, 2019

I, Nicholas Brearton, of the City of Toronto, in the Province of Ontario, make oath and say as

follows:

1. I am President of KPMG Inc. (“KPMG”), the Court-Appointed Receiver and Manager of

the Defendants (the “Debtors” or the “Companies”) and as such have personal knowledge of the matters

hereinafter deposed to.

2. By Orders of the Honourable Mr. Justice Campbell of the Ontario Superior Court of Justice

(Commercial List) (the “Court”) dated December 17, 2008 and March 18, 2009 (collectively, the

“Appointment Order”), KPMG Inc. was appointed as Receiver and Manager (the “Receiver”) of all of the

property, assets and undertakings of the Companies. The appointment was made pursuant to an application

by the Ontario Securities Commission (“OSC”).

- 2 -

3. Attached hereto and marked as Exhibit “A” to this my Affidavit is copies of the invoices

issued by the Receiver for fees and disbursements incurred by the Receiver in the course of the Companies’

receivership proceedings (the “Invoices”) for the period from October 1, 2011 to July 31, 2019 (the “Fee

Approval Period”).

4. As evidenced by the Invoices attached at Exhibit “A”, in the course of the Fee Approval

Period, the Receiver’s staff has expended a total of 1,930 hours in connection with these proceedings, and

have incurred $957,093 in fees, $52,556 in disbursements and $131,254 in taxes, for a total of $1,140,902

based on KPMG’s hourly billing rates and yields an average hourly rate of $496.

5. Attached hereto as Exhibit “B” is a schedule summarizing the Invoices and the total

billable hours charged.

6. The amount estimated to complete this matter will be $25,000, plus disbursements and

taxes.

7. Attached hereto as Exhibit “C” is a schedule reconciling the total professional fees

outstanding between the Thirteenth Report to the Court and the Fee Affidavit dated August 29, 2019.

8. To the best of my knowledge, the rates charged by the Receiver throughout the course of

these proceedings are comparable to the rates charged by other large accounting firms in the Toronto market

for the provision of similar services and reflect a discount normally provided by KPMG on engagements

initiated by the OSC.

9. I verily believe that the Accounts are fair and reasonable in the circumstances.

10. Attached as Appendix “X” to the Thirteenth Report to the Court (the “Thirteenth

Report”) is the Affidavit of James Grout and Puya Fesharaki sworn and filed in support of the Receiver’s

application for approval of Thornton Grout Finnigan LLP’s (“Canadian Counsel”) fees, Canadian Counsel

to the Receiver, for the period October 1, 2011 to July 31, 2019.

11. Attached as Appendix “Y” to the Thirteenth Report is the Affidavit of Justine Smith sworn

and filed in support of the Receiver’s application for approval of McKinney Bancroft & Hughes

(“Bahamian Counsel”) fees, Bahamian Counsel to the Receiver, for the period October 1, 2011 to February

11, 2019.

12. Attached as Appendix “Z” to the Thirteenth Report is the Affidavit of Heather Meredith

sworn and filed in support of the Receiver’s application for approval of McCarthy Tétrault LLP’s

(“Representative Counsel”) fees, Representative Counsel to the investors, for the period August 2, 2011

to their discharge.

KPMG Inc. Suite 4600 Bay Adelaide Centre 333 Bay Street Toronto, ON M5H 2S5

Payment Address: KPMG LLP, T4348 P.O. Box 4348, Station A Toronto, ON M5W 7A6

August 15, 2019

New Life Capital Corp. 655 Bay Street, Suite 1110 Toronto, ON M5G 2K4

Draft Bill Reference Client Contact Telephone Email

: 5002862525 : 2000001793 : 1000011481 : Nick Brearton : (416) 777-3768 : [email protected]

For professional services rendered for the period January 1 to December 31, 2011 in connection with the appointment of KPMG Inc. on December 17, 2008, as Court-appointed Receiver and Manager of New Life.

Our Fee Disbursements

$ 166,183.00 CAD 75.00

$ 166,258.00 CAD

HST 21,613.54

Amount Due $ 187,871.54 CAD

Payment is due upon receipt GST/HST Number 12236 3153 RT0001 QST Registration 1023774310 TQ0001

CAD Cheque Payments: KPMG LLP, T4348, P.O. Box 4348, Station A, Toronto, ON M5W 7A6 Please return remittance advice with cheque.

CAD Wire Payments: Beneficiary: KPMG LLP Bank Details: TD Canada Trust, 55 King St. West,Toronto, ON M5K 1A2, Bank Code # 004, Transit # 10252, Account # 0938281, Swift Code TDOMCATTTOR Please e-mail related wire payment details including invoice number to [email protected]

Invoice No: 5002862525 Reference: 2000001793 Client: 1000011481 Amount: $ 187,871.54 CAD

KPMG LLP is a Canadian limited liability partnership and member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. KPMG Canada provides services to KPMG LLP.

Page 1 of 1



New Life Capital Corp et al. Professional Fees Summary

For Period of October 1, 2011 to December 31, 2011

Name Position Rate Hours Total Fees R. Harris Partner $ 640.00 20.00 $ 12,800.00 N. Brearton Partner $ 640.00 1.20 $ 768.00 E. Murphy Associate Partner $ 600.00 84.30 $ 50,580.00 J. Bradley Butcher Senior Manager $ 550.00 165.70 $ 91,135.00 M. Schankula Manager $ 350.00 2.50 $ 875.00 A. Rzhevsky Technician $ 230.00 15.60 $ 3,588.00 G. Gomez Technician $ 230.00 5.90 $ 1,357.00 R. Palazzo Admin $ 80.00 63.50 $ 5,080.00 Total Fees Incurred Expenses

358.70 $ 166,183.00

Type Amount Courier $ 75.00

Total Expenses Incurred $ 75.00

Total Fees and Expenses Incurred HST

$ 166,258.00 $ 21,613.54

Total $ 187,871.54

New Life Capital Corp. et al

Summary of Receiver's Activities for the Month of October, 2011

Richard Harris Hours

10/13/2011 Discuss overall strategy, draft of Receiver’s Eighth Report to the Court (the “Eighth Report”), and cash flows with Ms. E. Murphy and Mr. B. Butcher; review draft of Settlement Contract (the “APS”) submitted by Spiritus Life and Mr. Butcher’s comments and edits

2.5

10/14/2011 Review updated draft of cash flow; review of Eighth Report 2.5

10/18/2011 Interim financing discussions with Ms. Murphy, Mr. Butcher and Mr. N. Brearton; discuss New Life "Investor loans" with Ms. Murphy

1.5

10/19/2011 Discuss file issues with Ms. Murphy 0.5

10/25/2011 Review draft of Eighth Report 2.0

10/26/2011 Review revised draft of Eighth Report 1.0

10/27/2011 Status update on Spiritus transaction 0.5

10/28/2011 Update on Eighth Report 0.5

10/31/2011 Review draft letter to Advantage Investors and further changes to Eighth Report; discussion with Ms. Murphy and Mr. Butcher regarding letter to Advantage Investors and Eighth Report

1.5

Total 12.5

Nick Brearton

10/04/2011 Discussion with Ms. Murphy re: funding issues facing Receiver 0.8

10/05/2011 Discussion with Ms. Murphy re: funding issues 0.4

Total 1.2

Elizabeth Murphy

10/03/2011 Review of documents in preparation for response to Rep Counsel; signed payments; review of response to Mr. K. McElcheran; emails of September 30; various internal discussions

2.3

10/05/2011 Extensive time assessing cash flow position, taking into consideration various scenarios; various internal emails and discussions, including with Mr. N. Brearton and discussions with TGF and McKinney Bancroft; file oversight

0.5

10/06/2011 Review of AM Best rating of remaining insurers; updating/reviewing website notice; review of APS; follow-up with McKinney Bancroft regarding legal proceedings in Bahamas; consideration of cash flow and go forward plan for estate, including internal discussions and communications with Thornton Grout Finnigan LLP (“TGF”); file oversight

6.0

10/07/2011 Draft notice for website; status email to Mr. Harris; responding to questions from Rep Counsel; call with Rep Counsel; call to Pacific Life regarding encumbrances against Starr Policy

3.5

10/11/2011 Call with Mrs. D. Stewart; status call with Mr. Grout, Mr. Nunes and Mr. Butcher; review and edits on Eighth Report; file oversight; clearing emails

3.7

10/12/2011 Extensive time on matters relating to Eighth Report, including team call to discuss issues and addressing go forward plan; call with Ms. H. Meredith; analysis and consideration of go forward plan

8.0

10/13/2011 Various matters related to proposed investor advance, including call with Mr. R. Scott and Ms. J. Steele, and call with Rep Counsel; internal meeting to discuss file status and issues; extensive time on report and related matters; extensive time on options for go forward plan

10.0

10/14/2011 Cash analysis; review of Eighth Report and Supplemental Report; call with counsel; emails with Rep Counsel

5.0

10/17/2011 Update notice for website; attendance before Justice Campbell regarding sale of policy; consideration of next steps; consideration of Advantage trust claim; consideration of whether any claims by principals are time barred

2.7

10/18/2011 Review and consideration of email from Rep Counsel regarding possible investor financing; call with TGF; email to Rep Counsel with proposed Advantage wording for next court report; review of draft APS; email to US counsel; call with Ms. Steele and follow-up email to Rep Counsel; call to Mr. Nunes regarding various questions relating to assisting investors to raise fund; updating realization scenarios; circulating dial-in numbers; further update of cash scenarios; emailing scenario to investors; review of draft letter regarding investor loan

3.3

10/19/2011 Call with potential lenders; internal consideration of issues raised on call; various calls with Rep Counsel and Ms. Steele regarding potential loan from investors and related matters; internal emails regarding terms of Receiver’s Certificates; status discussion with Mr. Butcher and Mr. Harris; various emails to lenders

2.0

10/20/2011 Letter to Advantage investors, review/comment; Supplemental Eighth Report, review drafts; APS, emails and review/comment on draft.

1.0

10/21/2011 Draft/finalize email to Ms. Steele regarding priority of future loans; sign Receiver’s Certificates. Notice on website – finalize regarding potential lapsing policy; updating Eighth Report and cash flows

1.7

10/24/2011 Eight Report; clean up matters 5.0

10/25/2011 Email to Ms. Steele regarding investor loans; review and comments on Eighth Report 4.0

10/26/2011 Call with Rep Counsel; consideration of next steps; follow up on various matters, including cash flow projections

1.0

10/27/2011 Call with OSC; file oversight 0.5

10/28/2011 Review of TGF comments on draft of Eighth Report; review of comments from Spiritus on APS

1.5

Total 61.7

Brad Butcher

10/03/2011 Emails with Mr. Nunes regarding information needed for response to Rep Counsel regarding Sohkan and Invico, discussions with Ms. Murphy regarding same, review and comment on drafts of email; emails and telephone call with Mr. P. Jacobson of Del Mar Financial regarding APS process, Spiritus counsel; telephone call with AIG regarding cash surrender value of policy on Mr. R. Parsley, memo regarding same; emails from Mr. K. McElcheran and Ms. Murphy; telephone call with AXA regarding McCann and Shami policy information, email to Ms. Murphy regarding same; emails with Mr. Nunes regarding judge availability; emails with Mr. Johnston of Sohkan Capital regarding status; update premium requirements schedule, revise updated R&D and projection

2.3

10/04/2011 Conference call with Ms. Murphy, Mr. Nunes and Mrs. Stewart regarding status, issues regarding obtaining judgment in The Bahamas or Ontario; telephone call with AIG regarding Barsa premium status; telephone call with ING regarding borrowing status of McGee policy; review further updated financial and premium projection schedules and provide to Ms. Murphy with explanatory email; discussions with Ms. Murphy regarding cash position, legal issues, go forward options; emails with Mr. McElcheran; preparation of draft fee approval affidavit

3.2

10/05/2011 Various emails, including with Mr. Nunes, Mr. McElcheran, Mrs. Stewart; telephone conversation with Tara at PHL regarding updated information on Stavitsky policy; discussions with Ms. Murphy regarding cash position and projections; responses to emails from Ms. Meredith regarding queries; emails with Mr. Roberts; preparation of Eighth Report

3.3

10/06/2011 Emails with Mr. Jacobson; preliminary review of Spiritus draft APS template, emails with Mr. Nunes and Ms. Murphy regarding same and their call with Mr. Jacobson and Ms. Principe; preparation of Eighth Report; telephone call with Mr. D. Seaman at Pacific Life regarding authorization form needed; telephone conversation with Susan at PHL regarding updated Account Values and monthly cost of insurance for Alfieri, Solomon, Bell, Barton and Arking policies; discussion with Ms. Murphy regarding call with Ms. Meredith, info requested; telephone call with Ms. Murphy and Mrs. Stewart

2.1

10/07/2011 Complete Pacific Life Third Party Authorization form regarding Starr policy and provide to Ms. Principe; telephone conversation with AXA regarding updated policy information regarding Galkin; preparation of updated Key Data schedule for Rep Counsel; telephone conversation with Ms. Murphy and Ms. Meredith regarding Key Data summary requested, Investor Panel's efforts to raise funds; telephone conversation, along with Ms. Murphy, with Israel at Pacific Life regarding confirmation no assignments or collateral registered; emails regarding draft website notice

1.7

10/11/2011 Telephone call with Mr. C. Vega of ING regarding updated info on Weiss and McGee policies; preparation of Key Data summary and send to Ms. Meredith; discussions with Ms. Murphy regarding report, Spiritus revised APS draft; telephone call with Ms. Murphy and Mrs. Stewart regarding potential interest in condo; telephone conversation with Ms. Murphy, Mr. Grout, Mr. Nunes regarding Spiritus, Eighth Report, cash position; conference call with Mr. Nunes and Ms. Principe regarding draft APS, transaction process; telephone call with Mr. Nunes; telephone call with Mr. Hoffarth, investor; emails with Mr.

3.2

10/12/2011 Review email from Ms. Principe regarding lien searches; conference call with Ms. Murphy, Mr. Grout, Mr. Nunes regarding draft Eighth Report, plan for Court, status of issues; review second draft of APS and prepare email to Mr. Nunes with comments; telephone call with Ms. Murphy and Ms. Meredith regarding potential loan, emails regarding same; email from Mr. I. P. McArthur regarding Advantage trust claim, emails with TGF and Ms. Murphy regarding same; revise draft notice for website regarding policy lapse, arrange posting and removal of outdated notices; email to team regarding increase in borrowing limit

3.2

10/13/2011 Review draft Order and provide comments to Mr. Nunes by email; conference call, along with Ms. Murphy, with Mr. R. Scott and Ms. J. Steele regarding possible cash advance, takeover of policies to lapse; various emails with Ms. Steele regarding confi, queries, access to data site; review Justice Pepall’s endorsement in 2009 case regarding trust fund issue, email to TGF regarding application to Advantage; various emails with Mr. Nunes; preparation and editing of Eighth Report and Supplementary Report; meeting with Mr. Harris and Ms. Murphy to discuss status, review cash projection; various discussions with Ms. Murphy

4.3

10/14/2011 Preparation and editing of Eighth Report and Supplementary Report and related file review, discussions with Ms. Murphy; reconcile and review RCMP Production Order, emails with team regarding same; telephone call with Ms. Murphy and Mr. Nunes regarding Spiritus, Stavitsky premium, reports, cash position; telephone call with PHL regarding Stavitsky cost of insurance information and status; emails with Ms. Steele; review draft cash flow schedule to end of 2012 prepared by Ms. Murphy; conference call with Mr. Grout, Ms. Murphy, Mr. Nunes regarding cash, Stavitsky; telephone call with Mr. J. Campbell; emails with Mr. McElcheran; telephone call with PHL regarding extension regarding Stavitsky, email to team; receive TGF’s mark-up of APS; emails with Ms. Principe

4.1

10/17/2011 Attend at Court to update Justice Campbell on status, set court date; discussions with Mr. McElcheran; discussions with Ms. Murphy; emails with Ms. Jain, including receipt of SSDR report; review Proverian invoices, arrange payment; telephone call with Ms. Peled of Proverian regarding sale agreement language; arrange website update; review email proposal from Mr. McElcheran regarding investor loan; telephone call with ING regarding McGee policy; emails regarding comments on draft APS; various emails

3.2

10/18/2011 Review further markup from TGF of APS, emails with Mr. Nunes regarding same, send to Ms. Principe, emails with her; discussions with Ms. Murphy and Mr. Harris regarding investor loan proposal, conference call with Ms. Murphy, Mr. Grout, and Mr. Nunes regarding same; preparation of 2012 monthly premium projection; emails with Bingham McCutchen (“Bingham”) regarding APS; preparation of Eighth Report; review draft side letter with investor/ lenders, email comments to Mr. Nunes; review notice from Pacific Life regarding Spiritus authorization; email with Mr. McArthur regarding Mid-City trust claim; Bahamas litigation summary emails

4.3

10/19/2011 Conference call with Ms. Murphy, Mr. Nunes, Ms. Steele, Mr. Scott regarding current loan and possible future loans; telephone call with Ms. Murphy and Mr. Nunes regarding issues; review revised draft loan letter; emails regarding composition of Investor Panel; telephone call with Ms. Murphy and Mr. McElcheran regarding loans, panel composition; respond to inquiry from Mr. Munro regarding lapsing policy, Proverian confi; prepare draft letter to Advantage investors, send to Ms. Murphy and Mr. Nunes; arrange sort of advisor list, send to Ms. Steele; prepare draft form of Receiver’s Certificate, circulate to Mr. Nunes and Ms. Murphy; confirm letters from lenders regarding loan terms; various emails

3.6

10/20/2011 Preparation of Supplemental Report, review Ms. Murphy's changes thereto; review revised draft of Receiver's Certificate, emails with Mr. Nunes regarding same; review mark-up of APS from Mr. B. Goddard of Bingham, various emails regarding APS; arrange scanned copies of Starr trust agreements, provide to Mr. Goddard and Mr. Nunes; receive lender cheques, emails regarding same, arrange deposit of same and wire regarding Stavitsky premium; internal emails

3.2

10/21/2011 Finalize Receiver's Certificates, have signed, send to lenders by email; prepare control list of Receiver’s Certificates; review drafts of email to Ms. Steele regarding additional loans, website update regarding lapses; arrange posting of website update; emails with Mr. W. Kuit regarding Mr. Singh's shares; emails regarding APS with Ms. Nunes and Mr. Goddard, various comments regarding Bingham’s review of APS; prepare and editing of Eighth Report, discussions with Ms. Murphy, related file review including regarding offshore payments

3.4

10/24/2011 Preparation of Eighth Report; emails with Mr. B. West, Advantage investor; review company records regarding Mr. A. Storelli's share certificates and those of his company, emails with Mr. Storelli regarding same; emails with Mr. Nunes regarding Bingham follow-up; arrange confidentiality agreement for Mr. Storelli; emails regarding taxation; review Ms. Murphy's revisions to Advantage letter; discussions with Ms. Murphy

2.7

10/25/2011 Emails with Mr. Jacobson and Ms. Principe regarding APS status; prepare letter to Mr. Storelli regarding share certificates; emails regarding adjournment of Bahamian hearing; telephone call with Mr. Dodd at PHL regarding Stavitsky payment and account status, email to Ms. Murphy regarding same, reconcile; review Bingham markup further combined mark-up from Mr. Nunes, numerous emails with Mr. Nunes regarding agreement issues; preparation of Report, discussions with Ms. Murphy; emails with closing of EFG account; emails with Mr. Wong and team regarding Deveaux renewed interest in condo; email from Ms. Steele, related emails; various emails

3.7

10/26/2011 Telephone call with Mr. Nunes and Ms. Murphy regarding APS, loan initiative; emails regarding set up of OSC call; emails regarding condo taxes; update premium projection for 2012 regarding Stavitsky; telephone call with AXA regarding McCann lapse notice, email to team regarding same; review further revised APS, emails with Mr. Nunes regarding same; telephone call with Ms. Murphy, Mr. McElcheran and Ms. Meredith regarding status of Ms. Steele’s initiative, Pacific Life sale, go forward issues; update outstanding fee schedule for new information; voicemail update to Mr. Nunes regarding Rep Counsel, Spiritus; various emails, including with Rep Counsel; emails with Bahamas Realty; discuss Eighth Report with Mr. R. Harris

2.8

10/27/2011 Conference call with Mr. Britton, Ms. Murphy, Mr. Grout, and Mr. Nunes regarding status, motions in November; prepare summary of 2012 projections, send to Ms. Murphy with other projections; receive share certificate transfer request from Mr. Liebowitz, emails with Mr. Nunes and Ms. Murphy regarding same; update summary of outstanding professional fees, provide to Ms. Murphy, discuss impact on projections; preparation and editing of Report, emails with Mr. Nunes regarding same; discussions with Ms. Murphy; emails with Mr. Wong regarding ongoing interest of Mr. Deveaux

4.0

10/28/2011 Emails regarding closure of EFG bank account; review further mark-ups of Eighth Report and Supplemental Report, editing and additions to same, discussions with Ms. Murphy regarding same; send draft to Proverian; review and revise R&Ds; emails with Mr. Wong of Bahamas Realty regarding potential interest; review emails between TGF and Spiritus regarding comments on APS changes; emails regarding share transfer requested by

4.2

Malone/Liebowitz; emails regarding circulation of draft Eighth Report to McKinney and Rep Counsel

10/31/2011 Editing and finalizing Eighth Report, numerous emails with Ms. Murphy and Mr. Nunes regarding same, assembly of Appendices, emails with Ms. G. Glidewell of Proverian and Mrs. Stewart regarding comments on draft Eighth Report; telephone call with Mr. Zail and Ms. Glidewell regarding Eighth Report language; emails with Mr. C. Campbell and Mr. Roberts regarding new proposals for condo, sale agreement template; review annual statement from ING regarding McGee policy; revise and finalize letter to Advantage Investors, discussion regarding same and Eighth Report with Mr. Harris and Ms. Murphy; telephone call and email from Mr. Ackerman of Emprise, send confidentiality agreement; meet with Mr. Nunes

5.2

Total 67.7

Mike Schankula

10/13/2011 Updating data and arranging access for new parties

1.0

10/25/2011 Updating data site and arranging access for new parties 0.5

Total 1.5

Asya Rzhevsky

10/03/2011 Prepare disbursement voucher, wire to RBC, courier, update R&D, update insurance and R&D summaries schedules

0.7

10/04/2011 Prepare bank reconciliations, update summary schedule of fees 0.6

10/06/2011 Voice messages replies, changes to insurance portfolio schedule 0.4

10/07/2011 Prepare disbursement voucher, wire, changes to insurance portfolio and Key Data schedules

1.2

10/11/2011 Update summary of Key Data schedule, prepare disbursement voucher, wire 1.3

10/18/2011 Prepare disbursement voucher, wire, courier, update R&D, changes to insurance portfolio schedule, prepare projection premium 2012 schedule

2.5

10/20/2011 Prepare deposit, banking, three wires regarding loans from investors 1.3

10/21/2011 Prepare wire, disbursement and receipt voucher 0.5

10/26/2011 Prepare time summary by person schedule for fee approval motion 2.3

10/27/2011 Prepare summary of premiums to December 2012 schedule, update summary of time by person schedule, update various insurance schedules

3.4

Total 14.2

New Life Capital Corp. et al Summary of Receiver's Activities for the Month of November, 2011


11/09/2011 Review and execute Settlement Contract with Spiritus Life, Inc. (“Spiritus”) regarding the sale of the Pacific Life Policy (the “APS”)

0.5

11/11/2011 Execute documents related to the transaction with Spiritus 0.5

11/16/2011 Review Receiver’s response to the RCMP and various related documents, and advise

1.0

11/30/2011 New Life taxation 0.5

Total 2.5

Elizabeth Murphy

11/01/2011 Various matters related to November 14th motion; file oversight 1.0

11/02/2011 File oversight, clearing emails, review/additional information for Supplemental Report to the Receiver’s Eighth Report to the Court (the “Supplemental Report”)

1.0

11/08/2011 Attend at Thornton Grout Finnigan LLP (“TGF”) to sign fee affidavit, discussions with Mr. D. Nunes of TGF and Mr. Butcher

1.0

11/09/2011 Clearing emails 0.3

11/11/2011 Clearing emails; file oversight 0.3

11/16/2011 Clearing emails; file oversight 0.3

11/30/2011 Receipt of decision in Bahamas, consideration of implications; file oversight; clearing emails

1.0

Total 4.9

Brad Butcher

11/01/2011 Arrange posting on website of Receiver’s Eighth Report to the Court and the Receiver’s letter to Advantage investors; prepare draft Update for website, email to Ms. Murphy; review drafts of Notice of Motion (“NOM”), Order, Receiver’s Certificate, emails with Mr. D. Nunes of TGF regarding comments; email from Mr. Nunes regarding service of NOM; emails with Mr. C. Campbell, realtor in Bahamas and team regarding template of sale agreement

2.3

11/02/2011 Editing and review of Supplementary Report, send to Mr. Nunes; letter to Mitaka Investments to confirm share transfer; emails with Corp. McKinnon of RCMP; emails with Mr. Nunes regarding update on Spiritus’s revisions to APS; emails with Mr. I. McArthur regarding Mid-City; website updates, emails with

3.6

Mr. Nunes regarding revisions to same; review Rep Counsel letter to investors, suggest revision; numerous emails with Rep Counsel, TGF and Ms. Murphy, and telephone call with Ms. Murphy and Mr. Nunes regarding Rep Counsel's process to investigate competing offer; email with Mr. Ackerman, interested party regarding portfolio; send form of confidentiality agreement to Mr. Kim; discussion with Ms. Murphy

11/03/2011 Preparation of fee approval affidavit for execution by Ms. Murphy (the 3.6 “Affidavit”); review revisions to APS, email to Mr. Nunes regarding same; telephone conversation with Pacific Life regarding change forms; obtain change form and commence inserting information; further editing of Supplemental Report; arrange posting of Rep Counsel's letter to investors and Receiver's Notice regarding same, email to Rep Counsel to confirm; receive McCann grace notice from AXA; receive Mr. A. Storelli’s share assignments, email to Mr. Nunes and Ms. Murphy regarding same

11/04/2011 Prepare draft Affidavit; prepare draft fee affidavit and supporting schedules for 3.2 Mrs. D. Stewart of McKinney Bancroft, various emails regarding same; revise Supplemental Report and issue in final, send to Mr. Nunes; review Mr. Nunes's emails regarding circulation of Supplemental Report; emails with Mr. Nunes regarding update on APS

11/07/2011 Emails with Mr. Nunes regarding Spiritus update; various emails 0.4

11/08/2011 Revisions to APS, numerous emails regarding same; preparation of the Receiver’s Ninth Report to the Court (“9th Report”); revisions to Affidavit,

6.3

numerous emails regarding same with Mr. Nunes and Ms. Murphy, revise schedules, assemble attachments; review and comment on drafts of Order and NOM; review new invoice from McKinney, revise schedule to Stewart affidavit, emails with Mrs. Smith regarding same; posting on website of Rep Counsel’s recording of conference call; emails with Rep Counsel; attend at TGF, meet Ms. Murphy and Mr. Nunes resigning of Report and Affidavit

11/09/2011 Various postings to website, including 9th Report, Rep Counsel Notice and 5.3 update, preparation of draft Receiver Update regarding fee approval; reconcile TGF accounts to Receiver's records, emails with Mr. Nunes regarding same, review issued Grout affidavit; emails with TGF, Rep Counsel and Ms. Murphy regarding panel access to accounts; various matters regarding APS, including completion of draft exhibits and sending to Ms. J. Principe for review, revisions to agreement, numerous emails regarding same, meet with Mr. Nunes and Mr. Harris to execute; emails with Canadian Western Trust (“CWT”) regarding request by Mr. Storelli to transfer shares held in RRSP; emails with investor regarding data access

11/10/2011 Various website postings, including fee affidavits, Rep Counsel update 3.4 regarding counteroffer not proceeding, emails with Mr. K. McElcheran of McCarthy Tétrault regarding same; emails with Ms. Principe, escrow agent and Mr. Nunes regarding Pacific Life sale, documents, wires of funds; review and revise draft Supplementary Report to 9th Report, emails with Ms. Murphy and Mr. Nunes regarding same; finalize Supplementary Report, meet with Mr. Nunes regarding same and all original documents regarding Pacific Life sale; emails regarding service of Supplementary Report; emails with CWT, Mr. L.

Liebowitz and Mr. Storelli share transfer issues; receive original Stewart affidavit, emails regarding same; emails with Mr. B. West, Advantage investor

11/11/2011 Respond to email from Mr. R. McLauchlin, advisor; summarize Receiver's wire instructions for Pacific Life; arrange postings to website; preparation of response to RCMP; review Rep Counsel's draft NOM and Order, provide comments to Mr. Nunes; complete W-9 IRS form, emails with Ms. Principe regarding same; various emails with Mr. Nunes regarding documents for Pacific Life; arrange for Officer's Certificate regarding Mr. Harris's authority to sign, various emails and telephone calls regarding same

2.8

11/14/2011 Attend at Court regarding Receiver's motion, discussions with counsel and Rep Counsel; preparation of response to RCMP, related file review; arrange posting of Order; prepare draft Receiver's Update; emails with Mr. McArthur regarding approval to pay Mid-City trust claim; emails with Constable Meschino of RCMP; have W-9 form executed and send to Ms. Principe; arrange payment of utility invoice for condo

3.3

11/15/2011 Emails with Mr. Nunes regarding issues for process to obtain judgment; review Rep Counsel Order, emails with Mr. Nunes regarding same; arrange posting of Order, Receiver's Update, removal of old notice; preparation of and, revisions to response to RCMP, related file review; emails with Constable Meschino regarding draft response; prepare draft affidavit to accompany response schedules to RCMP; emails with Mr. Nunes and Ms. Murphy regarding draft affidavit for RCMP and schedules; email regarding Pacific Life, including confirmation from escrow agent of receipt of all documents

3.1

11/16/2011 Revise affidavit and prepare execution copy with exhibits, attend at TGF to have sworn, discussions with Mr. Nunes regarding Bahamas proceeding, Pacific Life sale; prepare cover letter to Constable Meschino, send executed affidavit by email and delivery; emails regarding updated status of Spiritus transaction; prepare cover letter to Mid-City regarding trust claim cheque

1.2

11/17/2011 Review monthly report from Proverian on death registry search, emails with Mr. Picker regarding change to system and data base; emails with Mr. D. Aubrey; emails with Mrs. Stewart regarding court status, condo draft offer from Bellagio Group

0.6

11/18/2011 Arrange cheque to Mid-City and send with cover letter; emails with Mr. L. Roberts of Bahamas Realty; further emails with Mr. Aubrey regarding trust claim issue; review draft offer from Bellagio Group for condo

0.8

11/21/2011 Emails from Mr. Nunes and Ms. Principe regarding approval of transaction by Pacific Life and instructions to release proceeds

0.1

11/22/2011 Prepare allocation schedules for Advantage investors' ultimate beneficial interests in the three ING policies, basis for allocation of premium obligation; emails with Mr. Nunes and Mr. Goddard of Bingham McCutchen (“Bingham”) regarding change in tax form required from Receiver by escrow agent

0.9

11/23/2011 Emails with Ms. Principe and Mr. Flores of Bingham McCutchen regarding tax issues raised by escrow agent; prepare draft cover letters to Investor Lenders regarding return of 50% of principal, plus interest

1.0

11/24/2011 Emails with Mr. Nunes regarding fee approval motion, status of Rep Counsel's submission; receive Rep Counsel's fee affidavit

0.4

11/25/2011 Review Rep Counsel's fee affidavit, emails with Ms. H. Meredith regarding comments; emails with Ms. Principe and Mr. Flores regarding tax forms

0.5

11/28/2011 Emails with Mr. Goddard regarding review of IRS forms issue by Bingham tax lawyers; emails with Ms. Principe regarding status; conference call with Mr. Goddard, Mr. Flores and Mr. J. Gouwar of Bingham regarding recommended way to proceed on forms, tax issues; email to team regarding tax issues; emails with Mr. Nunes, Ms. Murphy, Mr. Harris regarding preparation and issues regarding fee approval motion; review precedent submitted by Rep Counsel regarding fee approval concerns; preparation for motion

2.2

11/29/2011 Attend at Court regarding fee approval motion; email to Ms. Murphy and Mr. Harris regarding outcome of motion; emails with Ms. Principe regarding status of IRS forms; prepare IRS forms in draft and send to Mr. Gouwar for review; telephone call with Mr. Gouwar regarding revisions needed; revise forms, have signed by Mr. Harris, send to Mr. Erwin; emails with Bahamas Realty regarding new interest, court status; emails with Mrs. Stewart regarding court developments; email to Rep Counsel on Bahamas; follow up on condo utility invoice; receive Court Orders

3.2

11/30/2011 Telephone call with Ms. S. Collins of OSC regarding preparation for hearing; email to team regarding same; arrange posting on website of Fee Approval Orders; telephone call with Mrs. Stewart regarding Justice Adderley’s decision; review decision, various emails with Ms. Murphy and Mr. Nunes regarding same; discussion with Mr. Harris regarding same; telephone call with Ms. Murphy regarding decision; emails and telephone call with Mr. Gouwar regarding further queries from escrow agent regarding tax issues; emails with Ms. Budd and Ms. Principe; prepare email to Ms. Murphy regarding issues and considerations regarding Bahamas

2.6

Total 50.8

Mike Schankula

11/01/2011 Update Data Site 0.5

11/02/2011 Update Data Site 0.5

Total 1.0

Asya Rzhevsky

11/01/2011 Prepare labels and mail Notice to Advantage Capital investors, prepare detail summary of funds received for investors loan

1.4

Total 1.4

Girlie Gomez

11/08/2011 Updated summary of legal invoices paid and summary of time and expenses 0.6

11/14/2011 Preparation of wire instruction for Ocean Club Residence and updated R&D 0.3

11/18/2011 Preparation of cheque to settle trust claim of Mid-City and updated R&D 0.3

11/29/2011 Preparation of wire instruction for Ocean Club Residence and updated R&D 0.3

Total 1.5


Summary of Receiver's Activities for the Month of December, 2011


12/20/2011 Status update and discussions 0.5

12/21/2011 Update on Justice Adderley’s decision on Receiver’s request for stay and leave to appeal; internal discussions

1.0

12/22/2011 Discussions with Mr. N. Brearton and Ms. E. Murphy regarding Bahamas matters; attend meeting at Thornton Grout Finnigan LLP (“TGF”) with Ms. Murphy and Mr. Butcher regarding Bahamas issues;

2.0

12/23/2011 Various discussions regarding Bahamas issues with Mr. M. Rushton, Ms. Murphy and Mr. Butcher

1.5

Total 5.0 Elizabeth Murphy

12/01/2011 Emails regarding Bahamas decision; conference call with Mr. J. Grout and Mr. D. Nunes, both of TGF and Mr. Butcher; further call with Mr. Butcher and Mr. Nunes

1.0

12/02/2011 Review draft agenda for call with McKinney, Bancroft & Hughes (“McKinney”); conference call with Mr. Grout, Mrs. D. Stewart of McKinney and Mr. Butcher regarding Adderley Decision; further call with same parties regarding court appearance, temporary stay, appeal issues

2.0

12/05/2011 Attendance at OSC hearing, discussions with Mr. Grout, Mr. Butcher and OSC staff 2.5

12/06/2011 Review emails; file oversight 0.5

12/07/2011 Discussions and emails with Mr. Butcher regarding OSC hearing 0.9

12/08/2011 Review emails regarding Bahamian proceedings, OSC hearing; internal discussions 0.5

12/09/2011 Various emails regarding Notice and Affidavit in connection with Bahamian appeal 0.8

12/12/2011 Emails with Mr. Nunes and Mr. Butcher regarding commencement of action for judgment in Ontario; various emails regarding Rep Counsel update, Bahamas matters, OSC hearing

0.5

12/15/2011 Emails regarding outcome of hearing in Bahamas before Justice Adderley 0.3

12/16/2011 Call with Mr. Nunes and Mr. Butcher regarding Bahamas issues, Ontario action, McKinney accounts

0.8

12/19/2011 File oversight 0.3

12/21/2011 Review decision of Justice Adderley regarding request for stay and leave to appeal; calls with Mrs. Stewart and Mr. Nunes with Mr. Butcher, regarding Adderley’s latest decision; email from Mr. Butcher regarding premiums due; discussions with Mr. Butcher

1.6

12/22/2011 Review and comment on draft Discussion Points for meeting with TGF; meeting at TGF regarding Adderley decision and next steps

1.0

12/23/2011 Various emails and discussions with Mr. Butcher, Mr. Harris and KPMG General Counsel; telephone conversation, along with Mr. Butcher, with Mrs. Stewart

2.0

12/28/2011 Preparation for call with Bahamian counsel; review of file documents 1.5

12/29/2011 Call with Bahamian counsel 1.5

Total 17 .7

Brad Butcher

12/01/2011 Various emails with Ms. J. Principe, Ms. C. Budd, Mr. J. Gouwar regarding requirements of escrow agent and release of funds; discussions and emails with Ms. G. Gomez regarding receipt of funds; arrange wires regarding Shami premium; email and telephone call with Mr. Gouwar regarding tax issues regarding death benefits, email to team regarding same; emails regarding Bahamas decision, conference call with Ms. Murphy, Mr. J. Grout of Thornton Grout Finnigan LLP (“TGF”) and Mr. D. Nunes of TGF regarding same; further conference call with Mr. Nunes and Ms. Murphy; emails and telephone call with Mrs. Stewart regarding status, final submissions, scheduled call for December 2; emails with Mr. J. Wong of Bahamas Realty; review Barsa annual statement, telephone call with AIG regarding update on values and charges; review Supplemental Skeleton Agreements

2.8

12/02/2011 Prepare agenda for call with McKinney, circulate draft to TGF and Ms. Murphy; revise and send to Mrs. Stewart; participate in conference call with Mrs. Stewart, Mr. Grout and Ms. Murphy regarding Adderley Decision, issues, next steps; further call with same parties regarding hearing held by Adderley today, granting of temporary stay, plans for appeal and preparation of materials; update emails with Mr. Harris regarding developments; emails with Ms. Budd and Mr. Gouwar regarding further information required by escrow agent; review Ms. P. Lombardi’s letter to OSC; telephone call with AXA to confirm wire receipt

3.2

12/04/2011 Emails with Mr. Gouwar regarding tax withholding issues raised by escrow agent; review draft Bahamas chronology requested by OSC and comment, various emails regarding Bahamas in relation to OSC hearing

0.4

12/05/2011 Attend at commencement of OSC hearing regarding arguments raised for adjournment request, discussions with Mr. Grout, Ms. Murphy and OSC Staff; emails with Rep Counsel regarding set up conference call; emails with Ms. Meredith reclaim of Mr. S. Griffiths; complete IRS form SS-4 and send draft to Mr. Gouwar; various emails with Mr. Gouwar and Ms. G. Capato regarding application for EIN, revisions to SS-4; emails with Mr. Wong and Mr. L. Roberts regarding status of Court; email to RCMP; telephone call with Mr. I. Friedman of Atlantic Life, potential purchaser; telephone call with AXA to confirm Shami #763 wire received

3.1

12/06/2011 Revise form of completion certificate; revise W-8BEN, obtain Mr. Gouwar's comments, have executed, forward to Ms. Budd, emails with Ms. Budd; send confidentiality agreement to Mr. Friedman; conference call with Rep Counsel and TGF regarding Bahamas status, OSC hearing, Spiritus sale; review draft of Summons and Affidavit from McKinney, emails to Mr. Nunes regarding same; issue instructions to remove outdated content from Receiver’s website; emails with McKinney regarding timing and process; prepare letters to Investor Lenders regarding partial repayment

3.4

12/07/2011 Attend at OSC hearing start, emails regarding same; telephone call and email with Mr. McKinnon of RCMP; prepare letter to Laurence Family Trust regarding share transfer; emails with Ms. Budd and team regarding final wire; arrange payment of McCann premium; review draft Notice of Appeal, prepare mark-up, send to McKinney and TGF; various emails with Mrs. Smith regarding appeal process and documents, including mark-up of affidavit; emails regarding status of OSC hearing with Rep Counsel and team; discussions with Ms. Murphy; emails with Mr. M. Britton of OSC

3.8

12/08/2011 Finalize partial repayments to Investor Lenders; arrange access to data site for Mr. Friedman and update of site content; numerous emails with Mrs. Smith, Mrs. Stewart, Mr. Nunes regarding appeal documents, suggested revisions and considerations; review and mark-up further draft versions of Summons, Affidavit and Notice of Appeal, related file review; review Defendants' Closing Submissions; emails with Mr. Britton and Rep Counsel regarding status of OSC hearing; issue and circulate Receiver’s Certificate regarding completion of sale; various emails

3.3

12/09/2011 Letter to TGF with original completion certificate; numerous emails with Mrs. Smith, Mrs. Stewart, Mr. Nunes, Ms. Murphy regarding Notice and Affidavit; review various revised drafts of Bahamas Court documents; file review regarding insertion of condo carrying costs in affidavit; telephone conversations with Mrs. Smith; review edited Ruling of Adderley and provide comments; review invoice regarding 2012 condo fees

3.7

12/12/2011 Review further drafts of Notice and Affidavit; review updated R&D and utility and maintenance costs for condo and invoices regarding addition to affidavit; various emails regarding Bahamas documents with Ms. Murphy, Mr. Nunes, Mrs. Smith; attend at TGF to swear affidavit, discussion with Mr. Nunes; attend at OSC hearing, discussion with Mr. Britton and Ms. S. Collins; emails with Mr. Diertens, investor; emails with Mr. Nunes and Ms. Murphy regarding considerations for filing claim for judgment; email updates with Rep Counsel and team regarding OSC status

3.1

12/14/2011 Review annual statement from PHL regarding Bell policy; emails regarding limitations period issues; emails from McKinney regarding outstanding fees; telephone conversation with Mrs. Smith regarding appeal motion, outstanding fees

0.8

12/15/2011 Telephone call with Mrs. Smith regarding outcome of hearing before Justice Adderley, emails to team and Rep Counsel regarding same; telephone call with Mrs. Stewart regarding hearing, further emails; telephone call with Ms. T. Alexander of PHL regarding update amounts on six policies; telephone call with AXA regarding update on Shami and McCann policies; prepare internal memos regarding PHL and AXA information; commence update of premium projection spreadsheets; emails with Ms. J. Nordeen of Merrill regarding billing issues for data site

2.2

12/16/2011 Telephone call with Mr. Nunes and Ms. Murphy regarding Bahamas status, plans to seek relief before Justice Campbell, regarding judgment against principals, clarification of extension Orders; emails with Mr. S. Picker of Proverian regarding monthly report, Phoenix rate increases; emails with Mr. Roberts regarding status update, issues regarding offer presented by Mr. C. Campbell; emails with Mrs. Stewart regarding offer; review annual statement from PHL regarding Alfieri policy and telephone call with PHL regarding updated costs, note rate increase; arrange payment of McKinney fees to November 7th; receive further invoice from McKinney

2.3

12/19/2011 Emails with Mr. Nunes regarding Completion Certificate stamped by Court, arrange posting on website; telephone call with ING regarding updated information on Weiss and McGee policies, prepare file memo regarding same; telephone call with AIG regarding updated information on Barsa and Parsley policies, prepare internal memo regarding same; prepare reconciliation summary on composition of portfolio; update summary of premium requirements to December 31, 2011 and summary of lapse notices received and pending

2.4

12/20/2011 Review monthly death registry search report from Proverian, related emails; telephone conversation with Mr. Zail regarding Phoenix costs regulatory developments, email regarding same; update premium projection and summary R&D schedules; emails with Mr. Nunes and Ms. Murphy regarding plans to seek declaratory order and judgment

1.4

12/21/2011 Finalize update of financial status and premium projections and provide to Ms. Murphy; send confidentiality agreement to Wellington Capital; review decision of Justice Adderley regarding appeal, discussions with Ms. Murphy regarding same, telephone conversations with Ms. Murphy and Mrs. Stewart and with Ms. Murphy and Mr. Nunes; various emails regarding appeal decision; emails with Mr. Wong regarding potential rental

2.8

12/22/2011 Prepare draft Discussion Points for meeting with TGF on Bahamas matter, provide draft to Ms. Murphy, revise as per Ms. Murphy's comments and provide to TGF and Mr. Harris; emails with Ms. Murphy and Mrs. Stewart; arrange and approve payment of portfolio premiums; attend meeting at TGF with Mr. Harris and Ms. Murphy regarding Bahamas issues; various emails; review email from Mr. Nunes with go forward plan and considerations

3.5

12/23/2011 Prepare update email to Mr. Britton regarding Bahamas developments; internal discussions and emails regarding Bahamas, including with Mr. Rushton and Mr. Knowles; emails with Mr. Hodgson, investor; telephone call with Mr. Gislason, investor; numerous emails with Mr. Nunes, including regarding his summary of objectives for meeting; review and comment on draft questions prepared by Mr. Nunes for Mr. B. Moree of McKinney; conference call with Rep Counsel and Mr. Nunes regarding Bahamas developments; telephone call, along with Ms. Murphy, with Mrs. Stewart and email to team regarding same

3.5

12/29/2011 Conference call with McKinney, TGF and Ms. Murphy; various emails regarding Bahamas matters, action for judgment in Ontario

1.5

Total 47.2

Girlie Gomez

12/16/2011 Prepared wire instruction for transfer (includes correspondence with bank for clarification and correspondence with management for instruction)

0.3

12/19/2011 Updated Schedule of Summary of Premium Requirements December 2012, Summary of Premium Requirements for December 2011 – December 2012, Receiver’s summary of receipts and disbursements

1.5

12/20/2011 Updated Schedule of Summary of Premium Requirements December 2012, Summary of Premium Requirements for December 2011 – December 2012, Receiver’s summary of receipts and disbursements

1.8

12/22/2011 Prepared wire instruction, disbursement voucher and corresponded with bank for the wire transfer and obtain confirmation (four wire transfer)

0.8

Total 4.4



August 15, 2019




For professional services rendered for the period January 1 to December 31, 2012 in connection with the appointment of KPMG Inc. on December 17, 2008, as Court-appointed Receiver and Manager of New Life


$ 195,267.00 CAD 43,490.50

$ 238,757.50 CAD

HST 31,038.48







Page 1 of 1




For Period of January 1, 2012 to December 31, 2012

Name Position Rate Hours Total Fees R. Harris Partner $ 640.00 18.00 $ 11,520.00 E. Murphy Associate Partner $ 600.00 54.20 $ 32,520.00 J. Bradley Butcher Senior Manager $ 550.00 255.10 $ 140,305.00 R. Castonguay Senior Manager $ 550.00 0.80 $ 440.00 V. Raso Senior Manager $ 495.00 3.60 $ 1,782.00 M. Schankula Manager $ 350.00 0.50 $ 175.00 A. Rzhevsky Technician $ 230.00 23.90 $ 5,497.00 G. Gomez Technician $ 230.00 3.60 $ 828.00 R. Palazzo Admin $ 80.00 27.50 $ 2,200.00 Total Fees Incurred Expenses

387.20 $ 195,267.00

Type Amount Courier $ 137.05 Copying Record re Appeal $ 10,318.75 Posting Bond for Appeal $ 2,500.00 Printing $ 79.45 Data Room Provider Fees $ 20,990.51 U.S. Legal Counsel $ 9,464.74 Total Expenses Incurred $ 43,490.50


$ 238,757.50 $ 31,038.48

Total $ 269,795.98


Summary of Receiver's Activities for the Month of January, 2012


01/02/2012 Monitoring emails regarding Bahamas judgments and related strategy 3.0

01/03/2012 Discuss current status with Ms. E. Murphy and Mr. B. Butcher 0.5

01/04/2012 Discussion of go forward plan with Ms. Murphy and Mr. Butcher 1.0

01/05/2012 Emails on various matters 1.0

01/09/2012 Discussion with Ms. Murphy; scheduling 1.0

01/10/2012 Meeting regarding Bahamas legal proceedings, along with Mr. Butcher and Ms. Murphy, with P. Sahagian, KPMG General Counsel, and Mr. M. Rushton

1.5

01/16/2012 Briefing from Ms. Murphy 0.5

01/30/2012 Briefing with Mr. Butcher 0.5

01/31/2012 Discussions with Mr. B. Butcher and Mr. N. Brearton regarding proposed Stay Agreement, Letter of Credit in favor of Davis & Co. and related issues

1.5

Total 10.5

Elizabeth Murphy

01/02/2012 Various emails regarding Bahamas and proposed Ontario Statement of Claim; consideration of issues

2.0

01/04/2012 Review email updates on Bahamas; meeting with Mr. Harris and Mr. Butcher regarding Bahamas; various emails

1.0

01/05/2012 Conference call with Mr. Grout and Mr. Nunes, both of Thornton Grout Finnigan LLP and Mr. Butcher regarding Bahamas status; preparation of Statement of Claim

0.5

01/06/2012 Conference call with representatives of McKinney, Bancroft & Hughes (“McKinney”), Mr. Butcher and Mr. Nunes regarding appeal and stay issues; various emails regarding Bahamas; discussions with Mr. Butcher

3.5

01/08/2012 Review of email history regarding chain of events in Bahamian legal proceeding, realization of assets recovered

6.0

01/09/2012 Meeting with Mr. Butcher and Mr. Nunes regarding Bahamas issues and options 2.5

01/10/2012 Meeting with Mr. Sahagian and Mr. Harris, Mr. Butcher and Mr. Rushton 1.5

01/11/2012 Call with Rep Counsel; call with McKinney 1.5

01/13/2012 Update Mr. N. Brearton of KPMG regarding Bahamas; emails regarding potential settlement offer

1.0

01/16/2012 Various emails regarding settlement proposal letter, draft of McKinney Affidavit 0.3

01/17/2012 Revisions to settlement proposal letter; appearance with Mr. Nunes before Justice Campbell to brief on settlement options

2.2

01/18/2012 Emails regarding clean up required at condo 0.2

01/20/2012 Various emails regarding decision rendered by OSC against the principals of New Life 1.0

01/23/2012 Conference call with Mrs. Stewart of McKinney, Mr. Nunes and Mr. Butcher; signing Affidavit for January 24th motion

1.5

01/24/2012 Update from Mr. Nunes regarding appearance before Justice Campbell for Order covering OSC decision

0.5

01/25/2012 Conference call with Mrs. Stewart, Mr. Moree of McKinney, Mr. Nunes and Mr. Butcher regarding stay issues

0.8

01/26/2012 Bahamas email from Mr. Butcher 0.3

01/27/2012 Update to Ms. H. Meredith of McCarthys; update to Mr. N. Brearton 0.5

Total 26.8

Brad Butcher

01/02/2012 Review draft Statement of Claim against P&L, Amarcord, et al, related file review regarding FHC International Inc. and other issues, provide comments and copies of documents to Mr. Nunes by email; file review regarding Commonwealth Bank funds, email to Mrs. Stewart; file review regarding Ocean Club charges, email to Mrs. Stewart; review invoice from Bingham, email to Ms. Murphy regarding same; various emails with Mr. Nunes, Ms. Murphy and Mr. Harris, General Counsel regarding updates on Bahamas, application for judgment

2.3

01/03/2012 Review Ms. Murphy’s draft agenda for conference call, prepare supplemental list of considerations and circulate; receive IRS confirmation letter regarding EIN, send to Mr. Gouwar; arrange access to data site for Mr. W. Perez, prospective purchaser; review Bahamian Orders, prepare for conference call; telephone call with Mr. L. Liebowitz, email to team regarding same; update radar schedule of premiums; telephone call with PHL regarding Stavitsky status, memo regarding same; telephone call with AXA regarding Shami and McCann, identify issue regarding duplicate payment; conference call with Ms. Murphy, Mr. Grout and Mr. Nunes regarding issues, judgment; conference call with McKinney and TGF regarding appeal, mention hearing, plan; various emails

4.2

01/04/2012 Emails with Mr. M. Britton of OSC regarding status, copy of written submissions; meeting with Mr. Harris and Ms. Murphy regarding Bahamas matters; prepare analysis of disbursements for period May 12 to July 5 regarding Bonds proceeds issue, provide to TGF and Ms. Murphy; review RBC wire confirms for premium payments to AXA regarding Shami on December 22, identify bank error; telephone calls with RBC regarding same and emails with Ms. Murphy; telephone call with Mrs. Stewart regarding outcome of mention hearing with Justice Adderley, email to team regarding same; emails with Mr. Nunes regarding same; email Mrs. Stewart regarding condo listing

3.2

01/05/2012 Emails with McKinney regarding preparation of appeal documents; conference call with Ms. Murphy, Mr. Grout and Mr. Nunes regarding status, go forward plan, preparation of Statement of Claim; receive Stavitsky grace notice; email to Ms. Murphy with premium radar schedule, comments on cash needs

0.8

01/06/2012 Review draft Summons and Notice of Appeal, provide comments to McKinney, other emails regarding same; discussion with Ms. Murphy; email to Mr. L. Roberts of Bahamas Realty regarding status; telephone call with AXA regarding status of Shami and McCann policies, rectification of bank error, memo regarding same; conference call with McKinney and Ms. Murphy and Mr. Nunes regarding appeal and stay issues, affidavit regarding stay, potential options; emails with Ms. Murphy and Mr. Nunes regarding Bahamas matters; preparation of internal memorandum on Bahamas

3.3

01/09/2012 Preparation of internal memorandum regarding Bahamas issues; meeting with Mr. Nunes and Ms. Murphy regarding Bahamas issues and options; emails with General Counsel regarding scheduling meeting; emails with Mr. Liebowitz regarding request for premium projection; preparation of Discussion Points summary for meeting with General Counsel; emails with McKinney

3.6

01/10/2012 Emails with Mr. Perez, review data site regarding queries; update portfolio control list for posting on data site; revise Discussion Points summary for meeting with General Counsel and circulate; emails with Mrs. Stewart regarding date for stay hearing, set up conference call; emails with Rep Counsel regarding scheduling conference call; telephone call with AIG regarding Barsa policy, memo regarding same; review draft summary of scenarios from Mr. Nunes; meeting with Mr. Sahagian, Mr. Harris, Ms. Murphy, Mr. Rushton; various emails regarding Bahamas matters

2.4

01/11/2012 Review revised draft of Statement of Claim and provide comments to Mr. Nunes; update premium projection schedule and send to Mr. Liebowitz; approve payments to Bingham and condo utility; conference call, along with Ms. Murphy, with Mr. Nunes, Mr. McElcheran and Ms. Meredith regarding Bahamas developments and options; conference call, along with Ms. Murphy and Mr. Nunes, with Mr. Moree and Mrs. Stewart regarding settlement ideas, Ontario claim, process regarding stay and appeal; various emails

2.8

01/12/2012 Review revised draft of Statement of Claim, numerous emails with Mr. Nunes regarding information for completion of claim, related file review; emails with Mrs. Stewart regarding status; emails with McCarthys regarding outstanding accounts; emails with Ms. Murphy

2.6

01/13/2012 Emails with Mr. Nunes and Ms. Murphy regarding issuance of Statement of Claim, settlement process, updates with OSC and Rep Counsel; review issued Claim; discussions with Ms. Murphy

2.0

01/16/2012 Email to Mr. Nunes with points for inclusion in settlement proposal letter; review draft of letter and provide comments for subsequent revised drafts; review revised version Sands Affidavit and provide comments to Mr. Nunes; telephone conversations with and letter to CRA regarding information needed to assist with completion of T2 for Investments Inc.; review portion of Davis & Co.’s bill, emails with Mrs. Stewart regarding same; emails with Mrs. Stewart and Mr. Nunes

3.3

01/17/2012

Various emails regarding appearance before Justice Campbell, revisions to and release of settlement proposal letter to Mr. Davis, other matters

0.4

01/18/2012 Emails with Mr. Roberts and Ms. Murphy regarding maintenance and clean up needed at condo; various emails

0.2

01/19/2012 Various emails 0.1

01/20/2012 Emails regarding decision rendered by OSC and other matters 0.3

01/23/2012 Participate in conference call with Mrs. Stewart, Mr. Nunes and Ms. Murphy regarding stay discussions and considerations; various emails regarding Bahamas matters; emails regarding Merrill invoices; emails regarding RCMP inquiries; receive Proverian monthly report on search of death registry

1.2

01/24/2012 Various emails regarding appearance before Justice Campbell for recognition of OSC ruling, status and considerations regarding stay process in Bahamas

0.5

01/25/2012 Review issued Order regarding OSC decision; review Rep Counsel invoice, circulate, update outstanding professional fees schedule; review new lapse notices for Arking and Stavitsky, telephone call with Megan at PHL regarding revision in dates versus previous lapse notices; telephone call with Mr. Nunes and Ms. Murphy regarding Bahamas potential response; telephone call with Mrs. Stewart regarding response needed to Davis; conference call with Ms. Murphy, Mr. Nunes, Mr. Moree regarding considerations for stay response, options; voicemail to Mr. Nunes regarding call with McKinney; update investor schedules, send with detailed email to McKinnon; emails with Mrs. Stewart regarding stay negotiation; emails with investors; verify and email regarding FCIB balances

2.8

01/26/2012 Review Barton annual statement from PHL; update Key Data schedule and send to Mr. Perez; telephone call with PHL regarding Barton and Bell updated information, prepare memo regarding same; telephone call with AXA regarding McCann and Shami grace notices, prepare memo regarding same; telephone call with Mr. H. Gregory of Merrill regarding billing issues; update premium projection radar list; prepare summary of Anecdotal Notes on policies for RCMP; telephone call with Mrs. Stewart and Mr. Moree regarding Court appearance regarding stay, proposed agreement; email to team regarding proposed stay agreement; emails with Ms. Murphy regarding same

2.7

01/27/2012 Finalize Anecdotal Notes for RCMP; prepare email to Mr. McKinnon regarding comments on portfolio and send along with Anecdotal Notes and Key Data schedule; review final version of Sutherland Affidavit regarding stay; email to Ms. Murphy and Mr. Nunes regarding updated premium radar list; telephone conversation with Lisa of CRA regarding response to Receiver's letter requesting information on corporate tax returns; emails with Mr. Perez

1.7

01/30/2012 Review letter from Mr. Varma, advisor to Ms. I. Gupta, and respond by email; review McKinney invoice, circulate and update fees control list; discussion with Mr. Harris regarding update on developments; arrange posting of January 24th Order on website; emails with Mr. Perez regarding queries on portfolio; emails with Mrs. Stewart and Mr. Nunes regarding status of Bahamian issues, preparation of stay agreement; review draft and issued version of stay agreement proposal from Mr. D. Ellis of Davis & Co., provide comments to Ms. Murphy and Mr. Nunes, various emails

1.8

01/31/2012

Prepare email to Mrs. Stewart with detailed comments on stay proposal letter from Mr. Ellis; prepare update for website regarding OSC decision; email to General Counsel regarding update on Bahamas, OSC and letter of credit request, follow-up emails with Mr. Sahagian; numerous emails with Mrs. Stewart, Ms. Murphy and Mr. Nunes regarding stay proposal; discussions with Mr. Harris regarding issues with stay proposal process; review response letter from Mrs. Stewart to Mr. Ellis regarding stay proposal; telephone calls with Mr. Moree and Mrs. Stewart

2.9

Total 45.1

Girlie Gomez


0.5

01/18/2012 Correspondence with bank regarding error in wire transaction dated December 23, 2011 0.5

01/20/2012 Correspondence with Canada Post regarding renewal of redirection of mail services 0.2

01/31/2012 Preparation of forms, cheque and disbursement voucher for the renewal of the redirection of mail services

0.3

Total 1.5


Summary of Receiver's Activities for the Month of February, 2012


02/06/2012 Discuss Letter of Credit requirements with Mr. B. Butcher 0.5

02/07/2012 Review various updates regarding Bahamian proceedings and OSC decision; internal emails regarding Letter of Credit; review draft Update to Stakeholders for posting on website and provide comments

1.5

02/08/2012 Review correspondence with McKinney, Bancroft & Hughes (“McKinney”) regarding condo fees, etc.

0.5

02/10/2012 Email updates 0.5

02/14/2012 Status update on Bahamian issues 0.5

Total 3.5

Elizabeth Murphy

02/02/2012 Discussions regarding Bahamian legal matters with Mr. Butcher 0.4

02/03/2012 Telephone conversation with Mr. Nunes and Mr. Butcher regarding Bahamas matters; review draft agenda for call with McKinney; participate in conference call with Mr. Butcher, Mr. Nunes and Mrs. Stewart

1.5

02/07/2012 Review of emails regarding Letter of Credit 0.3

02/08/2012 Call with Bahamian counsel regarding stay agreement 0.5

02/10/2012 Call with Mr. B. Moree of McKinney regarding Bahamian proceedings 1.0

02/09/2012 Discussions regarding Bahamian legal matters with Mr. Butcher 0.3

02/22/2012 Calls with legal counsel to discuss settlement parameters 1.0

02/24/2012 Call with Ms. Jayn Steele, one of the Investor Lenders 0.5

02/29/2012 Calls with Mr. B. Butcher and Bahamian counsel 0.5

Total 6.0

Brad Butcher

02/01/2012 Arrange posting of update regarding OSC decision; meet with Ms. G. Gomez regarding analysis required on disbursement of Bond funds; review amended letter from McKinney to Mr. Ellis regarding stay agreement, various emails with Mrs. Stewart regarding same and condo inventory; emails with Mr. P. Sahagian, KPMG General Counsel, regarding comfort letter on costs award; arrange payment of two Weiss premiums; prepare draft update for website on Bahamian matters; emails with Mr. J. Wong of Bahamas Realty; update premium radar list and distribute; various emails with Mr. Nunes regarding stay and appeal issues

2.8

02/02/2012 Discussions with Ms. Gomez regarding analysis of disbursements from Bond proceeds, review drafts of analysis and send final draft to Ms. Murphy and Mr. Nunes; preparation of draft Update to Stakeholders for website; emails with Mr. Perez, conference call with Mr. Perez and Mr. E. Largent of Opulen Capital regarding portfolio and life expectancy (“LE”) reports; telephone calls with CRA regarding requests for authority recognition and copies of filed returns; review letter from Mr. Ellis regarding legal fees and scheduled hearing with Justice Adderley, emails with Mrs. Stewart regarding same

2.6

02/03/2012 Telephone call, along with Ms. Murphy, with Mr. Nunes regarding Bahamas matters; send draft of Update to Stakeholders to Ms. Murphy and Mr. Nunes, review mark-up from Mr. Nunes; prepare agenda for call with McKinney, circulate draft to team, send final; review email from Mr. Perez regarding covering LE costs, email to team regarding same; review Davis response regarding fees; emails with Mr. Sahagian regarding possible undertaking, further email regarding need to reconsider Letter of Credit; emails with Mrs. Stewart regarding undertaking; participate in conference call with Ms. Murphy, Mrs. Stewart and Mr. Nunes

2.6

02/05/2012 Various emails with Ms. Murphy and Mrs. Stewart regarding Letter of Credit, finalizing stay agreement, postponing appearance before Justice Adderley

0.3

02/06/2012 Emails with Mr. K. McKinnon of RCMP regarding further production order; internal emails regarding arrangements for Letter of Credit; prepare draft trigger paragraph for Letter of Credit, obtain comments from Mr. Nunes; email update to Rep Counsel; various emails with Mr. Nunes regarding Letter of Credit issues and considerations, Receiver's Certificate; revise draft Update to Stakeholders; emails with Mrs. Stewart regarding Letter of Credit, Commonwealth Bank; revise Bond disbursement analysis reasonableness schedule; send Bond analysis to Mrs. Stewart

2.6

02/07/2012 Emails with Mr. Perez and Mr. Nunes regarding Opulen Capital's proposal to fund updated LE reports; discussion with Mr. Harris regarding his review of draft Update to Stakeholders; telephone conversation with ING regarding status of Weiss policies, prepare internal memo regarding same; various emails with Mrs. Stewart and Mrs. Smith regarding stay agreement implementation issues; emails with Mr. Nunes regarding draft Drawing Certificate

1.7

02/08/2012 Review several draft versions of Drawing Certificate and provide comments to Mr. Nunes; prepare amended version of Stay Agreement and send to McKinney and TGF; review Solomon annual statement from PHL; review unauthorized signed stay agreement; conference call with Mr. Moree, Mrs. Stewart, Mrs. Smith, Mr. Nunes and Ms. Murphy regarding amended stay agreement, Drawing Certificate and McKinney

3.6

fees; email to team regarding fees; emails with Mr. Perez; telephone calls with Lisa and Marvin at CRA; various emails with Mr. Nunes and McKinney regarding revised draft documents; telephone call along with Ms. Murphy and with Mr. T. Knowles of KPMG Nassau; internal discussion; R&D update

02/09/2012 Email to team regarding proposed funding of McKinney fees, taxation considerations; discussions with Ms. Murphy; various emails with Mrs. Stewart regarding Kerzner concerns on utility bill payments; R&D update with Ms. Gomez; discussions with Ms. Murphy regarding Bahamas matters; telephone conversation with Ms. Murphy and Mr. Harris regarding McKinney fees issue, appeal preparation; emails with Mr. Nunes regarding Bahamas situation

1.4

02/10/2012 Emails with McKinney regarding Davis acceptance of amended documents; emails regarding follow up on status of issuance of Letter of Credit; telephone call with CRA regarding follow-up on Receiver's request for documents; telephone conversation with Mr. Nunes and Ms. Murphy regarding Bahamas; discussions with Ms. Murphy regarding Bahamian matters; telephone call with Mr. Moree and Ms. Murphy regarding McKinney fees, Court matters, process for appeal and settlement negotiations; prepare email to team regarding call with Mr. Moree; internal emails; email from Mr. Nunes regarding OSC follow-up

1.8

02/13/2012 Arrange website posting of Adderley decisions; update control list of Ontario Orders and Reports; revise draft Update to Stakeholders and send to Rep Counsel for comment; review draft Letter of Credit from CIBC, provide comments, various emails regarding same; emails with Mr. Nunes regarding sealing status of Pacific Life policy materials; telephone conversation with AXA regarding Shami grace notices, memo regarding same, update radar list regarding same; emails and telephone call with Mrs. Smith regarding appearance before Court of Appeal registrar, email regarding same to team

2.2

02/14/2012 Review letter from Ms. M. Carroll, investor and prepare response; various emails with webmaster regarding posting of Bahamas updates; emails with Mr. McKinnon regarding Bahamas status; various emails with Mrs. Stewart regarding direction to Commonwealth Bank, comments from Mr. Ellis on Draft Drawing Certificate and related matters; finalize Update to Stakeholders and issue

1.7

02/15/2012 Emails with Mr. McKinnon regarding Bahamas status, planning regarding settlement discussion; telephone conversation and emails with Mr. Largent regarding proposal to act as sales agent for policies; emails with Mr. Nunes regarding Opulen proposal; emails with CIBC regarding draft Letter of Credit, review revisions and prepare further mark-up; emails with webmaster; telephone call with AIG regarding Barsa, prepare letter to AIG to renew access to telephone information service; emails with Mr. Knowles regarding proposed meeting with Mr. Pogachar and Ms. Lombardi; internal emails regarding RCMP status, settlement negotiations

2.7

02/16/2012 Obtain TGF January fee information, update fee schedule and distribute; numerous emails regarding Letter of Credit with CIBC, Mr. M. Tomkin, Mrs. Stewart; finalize Letter of Credit draft and application form for signature; prepare summary schedules of Receiver's financial position and potential Bahamas liabilities for settlement strategy; emails with Mr. McKinnon, Mr. McAuley and Mr. Nunes regarding RCMP document request, privilege issue; emails with Mr. Largent regarding proposal, confidentiality

3.2

agreement, policy list; review Shami grace notices, update radar list; emails with Mr. Nunes regarding settlement considerations

02/17/2012 Emails with Mr. S. Picker of Proverian regarding monthly death report; emails with Mr. Tomkins and CIBC regarding processing of Letter of Credit request; emails with Ms. Murphy regarding inquiry from Ms. Steele regarding Investor Loan status; emails with Mrs. Stewart regarding scheduling of negotiation meeting with Davis; emails with Mr. Nunes regarding Bahamas, financial analysis in support of settlement negotiations

1.2

02/20/2012 Numerous emails with Ms. Murphy and Mrs. Stewart regarding status and scheduling of settlement negotiation meeting, association inquiries regarding utilities; telephone conversation with Ms. Murphy

0.6

02/21/2012 Emails with Mr. Nunes and Mr. McKinnon regarding RCMP copying of records, privilege protocol; emails with Mrs. Stewart regarding utility payment issue, Commonwealth Bank instruction and arrangements for settlement meeting; emails with Mr. Largent regarding policies identified; various internal emails, including an update on premiums due

1.6

02/22/2012 Prepare email of discussion points for call with Ms. Murphy and Mr. Nunes; call with Mr. Nunes and Ms. Murphy regarding Bahamas matters, Opulen, RCMP and protocol; file review and emails regarding Document Protocol and background on Investor Loans; arrange payment of McKinney out of pockets regarding appeal; emails with Mr. Largent and file review regarding pricing of selected policies; review Proverian monthly death report and circulate; conference call with Mrs. Stewart, Mr. Moree, Ms. Murphy, Mr. Grout, and Mr. Nunes regarding preparation for settlement meeting

3.3

02/23/2012 Emails with Mr. Nunes regarding cost estimate of future Bahamian proceedings, revise related schedule; emails with Mr. Nunes regarding RCMP request and document protocol issues; email from Mr. Nunes to Rep Counsel; telephone call with Mr. Knowles regarding briefing priorities to meeting with Mr. Davis; attend at TGF offices, meet with Mr. Nunes and participate by telephone in meeting at McKinney offices with Mr. Davis, Mr. Moree. Mr. Ellis, and Mrs. Stewart regarding settlement proposals; prepare email to Ms. Murphy regarding discussion with Mr. Davis

3.2

02/24/2012 Emails with Ms. Steele and Mr. R. Scott regarding loan repayment issues; telephone call, along with Ms. Murphy, with Ms. Steele; emails with Mr. Nunes regarding draft email to RCMP; email to Mr. McKinnon regarding privilege issues and timing to comply with production order; various emails internally and with Mrs. Stewart regarding wire transfer and Letter of Credit issuance; telephone call with AIG regarding update on Barsa policy; telephone call with Mr. Scott regarding his loan to the Receiver and concerns; emails with Mr. Largent, Ms. Gomez regarding investor address changes, Ms. Murphy and Mr. Nunes regarding premium payments

2.6

02/27/2012 Telephone conversation with Mrs. Stewart regarding preliminary response from Mr. Ellis; email from Mr. Largent regarding value range for select policies; telephone conversation with Conseco regarding Anderson premiums, prepare memo regarding same and request payments; request payments regarding Arking and Barsa premiums; update premium spreadsheet with Ms. Gomez; various emails

1.6

02/28/2012 Emails regarding response from Davis & Co. to settlement offer; review updated spreadsheets on premium payments

0.4

02/29/2012 Various emails with Mrs. Stewart and Mr. Nunes regarding settlement offer issues; telephone conversations with Mr. Moree and Mrs. Stewart regarding settlement negotiations; further telephone conversation, along with Ms. Murphy, with Mr. Moree and Mrs. Stewart; emails with Mr. H. Gregory regarding Merrill account; emails with Mr. R. Stone, investor, including providing a copy of share certificate; revisions to premium projection tracking spreadsheet, follow-up with Ms. Gomez on banking matters; request payment of Stavitsky premium

2.4

Total 46.1

Girlie Gomez


0.4


0.2

02/09/2012 Prepared wire instruction for transfer (includes correspondence with bank for clarification and correspondence with management for instruction);

0.2

02/12/2012 Prepared wire instruction for transfer (includes correspondence with bank for clarification and correspondence with management for instruction); prepared instruction for US draft and pick-up of US draft; updated schedule of actual premiums paid until February 2012 and projected premium requirements until December 2012 schedule

1.3

Total 2.1

New Life Capital Corp. et al Summary of Receiver's Activities for the Month of March, 2012


03/06/2012 Discussion of adjournment of appeal hearing, proposed settlement with Ms. E. Murphy

1.0

03/22/2012 Discussion of proposed settlement with Ms. Murphy 0.5

Total 1.5

Elizabeth Murphy

03/01/2012 File oversight; clearing emails 0.3

03/06/2012 Update with Mr. B. Butcher; update Mr. R. Harris on adjournment of appeal hearing, proposed settlement and other matters; review of emails

1.3

03/08/2012 Conference call with Representative Counsel 0.5

03/13/2012 Emails with Mr. Butcher regarding loan possibilities to fund settlement; review of emails

0.4

03/29/2012 Preliminary review of OSC’s Reasons For Decision 0.4

03/30/2012 Review of update for Website 0.3

Total 3.2

Brad Butcher

03/01/2012 Research on value of watches, including internet searches, emails and telephone conversations with dealers in Dallas and Toronto, telephone conversation with Breitling Boutique in Nassau; emails with Ms. Murphy regarding watches, discussion regarding same and revised settlement offer; emails with Mrs. Stewart regarding increased settlement offer and rejection of same; initiate payment requests for condo fees, maid service, utility deposit

1.4

03/02/2012 Emails with Mrs. Stewart of McKinney Bancroft & Hughes (“McKinney”) regarding appeal materials; telephone conversation with Mr. Moree and Mrs. Stewart regarding appeal preparation and issues, email to team regarding discussion with McKinney; update premium requirements summary schedule

1.2

03/04/2012 Review McKinney's draft Skeleton arguments for appeal, as revised by Mr. D. Nunes of Thornton Grout Finnigan LLP (“TGF”), and provide comments by email to Mrs. Stewart

0.5

03/05/2012 Email update regarding Bahamas legal issues to Mr. P. Sahagian, KPMG General Counsel; receive final Appellant’s Skeleton and Respondent's Skeleton, review Mr. Nunes’s comments on Davis's Skeleton; review Mr. Nunes's email to Rep Counsel; prepare email to Rep Counsel regarding watches; various emails

0.8

03/06/2012 Telephone conversation with Ms. Godkin, investor; telephone call with Ms. Murphy, Mr. Moree and Mrs. Stewart regarding appeal hearing, adjournment, settlement considerations; email to TGF regarding Bahamas update; prepare financial summary and discussion paper regarding fee reduction, discussion with Ms. Murphy, send to TGF; telephone call with Kimberly of PHL regarding policy information update; emails with Mr. Moree regarding go forward process, condo title, possible loan; emails with Mr. Nunes; emails with Mr. L. Liebowitz regarding interested party regarding portfolio

2.7

03/07/2012 Emails and telephone call with Mr. P. Brakshi, prospect introduced by Mr. Liebowitz, arrange confidentiality agreement and access to data site; telephone call with PHL regarding Stavitsky information; conference call with Ms. Murphy, Mr. Grout, Mr. Nunes regarding settlement issues; emails with Corporal McKinnon of RCMP regarding site visit, new Production Order; review Production Order, forward to team; emails and telephone call with Mr. McAuley of KPMG Forensics regarding preparation to provide electronic records to RCMP; telephone call with Ray at AXA regarding information on Shami and McCann policies, prepare memo regarding same; update premium projection schedule; prepare letter to AXA regarding illustrations; email with Mr. Nunes, Mrs. Stewart and Mr. Moree regarding various matters

2.6

03/08/2012 Emails with Mr. Moree regarding Court process, possible loan against condo, prepare analysis of settlement costs, forward to Mr. Nunes and Ms. Murphy; revise schedule of Receiver's potential costs and exposure in the absence of a settlement; conference call with Mr. Nunes, Ms. Murphy, Mr. McElcheran and Ms. Meredith regarding status, costs and implications of proposed settlement offer; emails with Mr. McKinnon and internally regarding RCMP access to records

1.7

03/09/2012 Update Key data schedule regarding portfolio; telephone conversations with CRA representatives regarding status of Receiver's request for copy of T2 tax return; emails with McKinney regarding billing; internal emails regarding arrangements for RCMP visit

0.5

03/12/2012 Emails with Mr. E. Largent regarding Opulen Capital’s proposal; internal emails and with Corporal McKinnon regarding arrangements for RCMP site visit to review company records; telephone conversation with CRA representative regarding follow up on document request; emails with Mr. Moree regarding inquiries about loan option

0.6

03/13/2012 Prepare outline of proposed settlement terms and reasons in support of offer; telephone conversation with Mr. Stenning, investor; telephone conversation with Mr. T. Gibson of First Caribbean International Bank regarding Receiver's inquiries about a possible loan against the condo; emails with Ms. Murphy regarding loan possibility; emails with Mr. L. Roberts of Bahamas Realty regarding market status; receive McKinney invoice and forward to team and update outstanding professional fees schedule

1.2

03/14/2012 Emails with Mr. S. Campagna, investor; update listing of outstanding professional fees 0.3

03/15/2012 Emails with Mr. McKinnon regarding Advantage program; telephone conversation

with Mr. Gibson regarding loan, review his follow-up email of information requests; emails with team regarding loan initiative

1.0

03/16/2012 Emails with Mr. S. Picker of Proverian Capital regarding monthly death registry search; telephone conversations with Ms. B. Donnelly and Mr. C. Golshani of CRA regarding corporate return, email to Mr. Golshani

0.3

03/19/2012 Emails with Mrs. Stewart regarding follow-up with Mr. Davis, on settlement potential; emails with Mr. Picker regarding monthly death registry report, receive and circulate; emails with Corporal McKinnon regarding RCMP site visit regarding records; emails with Mr. Gibson regarding loan application on hold; email from Mr. Golshani; telephone conversation with Mr. B. Gilbreath of Merrill regarding data site contract extension, charges

1.0

03/20/2012 Prepare list of prospects for portfolio who have come forward subsequent to the 2011 sales process and circulate to team; internal emails and discussions regarding preparations for RCMP site visit

0.6

03/21/2012 Preparations for RCMP site visit, including accounting for all boxes of records, re- filing documents, revising and updating control listings; various emails with Corporal McKinnon regarding RCMP visit, provide supplemental listing; emails with Mrs. Stewart regarding condo utility invoice; email to Ms. Murphy and Mr. Nunes regarding status of RCMP matters

2.3

03/22/2012 Various emails with Corporal McKinnon; meet with Corporal McKinnon at KPMG office, assist with RCMP's taking of possession of New Life records, discuss status of investigation and next steps; prepare draft of affidavit required by RCMP regarding records taken into their possession

2.8

03/23/2012 Review annual premium notice regarding Parsley; revise and finalize affidavit for RCMP and provide to Constable N. Meschino; email to Ms. Murphy and Mr. Nunes regarding status of RCMP investigation

0.8

03/26/2012 Review copy of 2005 T2 for New Life Capital Investments Inc. received from CRA; emails with Mr. V. Raso of KPMG regarding preparation of T2 returns for 2006 onward; emails with Mrs. Stewart regarding status of settlement discussions

0.3

03/27/2012 Review letter from Mr. B. Varma, advisor, regarding his client Mrs. Gupta, related file review and respond by email; emails with Mr. Nunes regarding settlement status

0.4

03/28/2012 Emails with Mr. Nunes regarding follow-up on settlement offer; follow-up with Mr. Bakshi

0.2

03/29/2012 Telephone conversation with Mr. Bakshi; emails with Constable Meschino regarding appeal status; receive, review and circulate to team OSC's Reasons for Decision; various emails with Ms. Murphy and Mr. Nunes regarding OSC Reasons; emails with Ms. Rzhevsky regarding HST filings and status of refunds

0.8

03/30/2012 Emails to McKinney, RCMP and Rep Counsel with copy of OSC Reasons and comments; prepare Update to Stakeholders for website, circulate draft to Mr. Nunes and Ms. Murphy; arrange posting on website of OSC Reasons and Update Notice

1.1

25.1 Michael Schankula

03/07/2012 Updating data site 0.5

Total 0.5

Asya Rzhevsky

03/29/2012 Fax draft request to RBC, telephone discussions and fax to CRA regarding open new HST account

0.4

Total 0.4


Summary of Receiver's Activities for the Month of April, 2012

Elizabeth Murphy Hours

04/05/2012 Review of correspondence from counsel for Mr. J. Pogachar and Ms. P. Lombardi 0.3

Total 0.3

Brad Butcher

04/02/2012 Review grace notice from PHL regarding Arking policy, telephone conversation with Ms. C. Bush of PHL to confirm that notice is outdated; discussion with Ms. E. Murphy regarding efforts to advance settlement with Mr. Pogachar and Ms. Lombardi

0.3

04/03/2012 Telephone conversation with Mrs. D. Stewart of McKinney, Bancroft & Hughes (“McKinney”) regarding settlement situation, email to Ms. Murphy and Mr. D. Nunes of Thornton Grout Finnigan LLP (“TGF”) regarding discussion with Mrs. Stewart

0.3

04/04/2012 Emails with Mr. M. Britton of Ontario Securities Commission (“OSC”) regarding sanctions process; emails with Mrs. Stewart regarding dealings with Davis; emails with Mr. J. McAuley of KPMG Forensics regarding production of electronic records for RCMP; emails with Mr. Nunes regarding banking records and RCMP request

0.4

04/05/2012 Review banking records obtained from OSC/Schindermann and The Toronto-Dominion Bank and organize for copying for RCMP; email to Constable Meschino of RCMP regarding status of production of electronic records and banking records; emails with Mr. Nunes regarding banking records to be submitted to RCMP; preparation of cover to RCMP; email from Mrs. Stewart regarding letter from Mr. D. Ellis of Davis & Co. regarding rejection of settlement offer, email with Mr. Nunes and discussion with Ms. Murphy regarding same

1.7

04/09/2012 Emails with Mr. McAuley regarding identification and duplication of non-privileged electronic records for submission to RCMP, review disk from Groia, revise cover letter to RCMP, follow up on duplication of hardcopy banking records

0.8

04/10/2012 Emails and discussion with Mr. McAuley regarding documents transferred to USB drive; emails with Ms. Murphy and Mr. Nunes regarding Opulen proposal; email to Representative Counsel outlining Opulen proposal; revise and finalize cover letter to RCMP with further documents provided in compliance with the March Production Order; emails with Mr. E. Largent of Opulen

1.3

04/11/2012 Prepare draft affidavit for RCMP regarding records submitted in compliance with March Production Order; review of additional banking records not submitted

0.5

04/12/2012 Telephone conversations with PHL and AXA regarding updates on policy values and balances due, prepare internal memos regarding same; telephone conversation with Mr.

0.7

J. Grout of TGF regarding provision of records obtained from the OSC to RCMP, email to Constable Meschino requesting return of banking records

04/16/2012 Telephone conversation with AIG regarding Barsa policy values, prepare internal memo regarding same; arrange wire requests to pay premiums regarding AIG and AXA

0.5

04/17/2012 Revise and finalize Affidavit for RCMP regarding second batch of documents sent in compliance with March Production Order; emails with Mrs. J. Smith of McKinney regarding draft letter to Commonwealth Bank; telephone conversations with Mr. Hoggarth, investor; emails and telephone conversation with Mr. L. Liebowitz regarding ongoing interest of Mr. Bakshi; review and circulate Proverian monthly search report; emails with Constable Meschino

1.1

04/18/2012 Arrange wire request regarding PHL Stavitsky premium; email to Ms. Murphy and Mr. Nunes to update on dealings with Mr. Liebowitz and Mr. Bakshi regarding possible offer for portfolio

0.4

04/19/2012 Email inquiry from Mr. McElcheran regarding scheduling of sanctions hearing; update control list of actual and projected premium payments for 2012;

0.4

04/20/2012 Emails with Mr. Nunes, Ms. Murphy and Mr. Britton regarding scheduling of OSC sanctions hearing and Ms. Lombardi's request for a delay

0.3

04/23/2012 Emails between Mr. Nunes and Mr. K. McElcheran of McCarthy Tetrault LLP regarding OSC sanctions hearing issues

0.1

04/24/2012 Emails with Mrs. Smith regarding renewal of condo insurance; telephone conversation and emails with Mr. I. Friedman, prospective purchaser; emails with Mr. Largent and Mr. Nunes regarding Opulen proposal; emails with Mr. V. Raso of KPMG regarding T2 returns for New Life Capital Investments Inc., preliminary review of draft returns

1.1

04/26/2012 Arrange payment of insurance premium for condo; review cash position 0.2

04/27/2012 Emails with Mr. Raso regarding T2 returns; emails with Constable Meschino regarding records returned to Receiver

0.3

04/30/2012 Emails regarding setting of date for sanctions hearing 0.1

Total 10.5

Vincent Raso

04/24/2012 Prepare annual T2 tax returns for New Life Capital Investments Inc. for years 2006 through 2011

3.6

Total 3.6

Asya Rzhevsky

04/05/2012 Bank reconciliations 0.2

04/12/2012 Discussions with CRA offices, re-fax new letter and court order to CRA regarding new HST account

0.3

04/17/2012 Prepare three wires to AXA, one wire to American General Life regarding premium payments, courier to RBC, update R&D

0.6

04/18/2012 Prepare wire to PHL regarding Stavitsky premium, courier to RBC, update actual premiums paid schedule

0.7

04/19/2012 Prepare and mail to CRA business consent form, discussions with CRA regarding open new HST account

0.3

04/24/2012 Update investor address 0.2

04/26/2012 Prepare wire to pay condo insurance in Bahamas 0.3

2.6


Summary of Receiver's Activities for the Month of May, 2012

E. Murphy

05/03/2012

File oversight, clearing emails

Hours

0.2

05/11/2012 Review of various emails regarding implications of OSC sanctions hearing. File oversight

0.4

5/14/2012 Telephone call with Nunes and Butcher; review of team emails discussing implications of results of sanctions hearing. Consideration of options.

0.4

5/16/2012 Reading and responding to emails re options arising out of OSC sanctions hearing. File oversight. Discussions with Butcher.

0.5

5/22/2012 Call with McKinney Bancroft and Butcher, Discussions with Butcher 0.3

5/23/2012 Review of information from OSC proceedings. Consideration of implications and nest steps. Conference call with Canadian and Bahamian legal counsel

0.9

5/24/2012 Review of draft website update 0.2

5/30/2012 Review of draft court materials, including Butcher affidavit. Discussions re same with B Butcher

0.5

5/31/2012 Review of revised court materials, including Butcher affidavit. 0.3

6/11/2012 Attendance at court 0.5

Total 4.2

Brad Butcher Hours

05/01/2012 Emails with Rep Counsel regarding sanctions hearing; telephone conversation with Jessica at ING regarding current information on Weiss policies, prepare internal memo regarding same; review Bingham invoice, email with Mr. B. Goddard regarding discrepancy

0.8

05/03/2012 Emails regarding OSC sanctions hearing with Mrs. D. Stewart of McKinney, Bancroft & Hughes (“McKinney”), Constable Meschino, Mr. D. Nunes of Thornton, Grout, Finnigan LLP (“TGF”) and Ms. E. Murphy; emails and telephone conversation with Mr. I. Friedman of Atlantic Life; preparation of Receiver's accounting for disbursements during period of Interim Stay Agreement

1.0

05/04/2012 Email to Mr. P. Bakshi; other emails 0.2

05/07/2012 Email from Mr. Bakshi; emails with Mr. Nunes regarding ongoing interest in portfolio from Mr. Bakshi and Opulen; emails with investor

0.7

05/08/2012 Emails with Mr. Britton regarding issues for sanctions hearing; file update 0.4

05/09/2012 Emails with Mr. Gilbreath of Merrill regarding support for data site billings; internal emails and discussions regarding Merrill costs; telephone conversation with Mrs. Asuchuk, investor; review revised billing from Bingham, email with Ms. Murphy regarding same; emails with Mr. Friedman

0.8

05/10/2012 Review and sign corporate tax Bar Codes returns for Investments Inc.; emails with Ms. Murphy and Mr. Nunes regarding corporate tax returns and filings for HST refunds; prepare cover letter to CRA; follow up on Merrill invoices and page counts

0.8

05/11/2012 Attend at and testify at OSC sanctions hearing; emails regarding results and implications of sanctions hearing with Rep Counsel, McKinney Bancroft, Constable Meschino, Mr. Nunes and Ms. Murphy; telephone conversation with Mr. Friedman regarding interest in certain policies, implications of court decision on Florida life settlements, review related news report; review OSC factum

3.2

05/14/2012 Telephone conversation with Mr. Nunes and Ms. Murphy regarding follow-up on sanctions decision, implications for Bahamas proceedings; various emails with Mr. Nunes and Mr. J. Grout of TGF regarding sanctions decision, future course of action; emails with Mrs. Stewart regarding appeal hearing, counsel for Mr. J. Pogachar and Ms. P. Lombardi

0.8

05/15/2012 Review transcript of OSC sanctions hearing; emails regarding status of OSC Order and possible assignment of disgorgement obligation

0.4

05/16/2012 Review correspondence and returned drafts from Conseco regarding Anderson policies; telephone conversations with Conseco to try to ascertain status; prepare draft update for website regarding sanctions Order, send to team for review; various emails with Mr. Nunes and Mr. K. McElcheran of McCarthy Tétrault LLP regarding sanctions, status of Order, concerns regarding mutuality of debt, options; discussions with Ms. Murphy; email to Mrs. Stewart; review offer from Mr. Bakshi, emails regarding same

2.0

05/17/2012 Review Proverian monthly death search and send to team; various emails with Mr. Nunes regarding Sanctions Order, certified copy thereof, Bakshi offer; review Sanctions Order, send to Rep Counsel, RCMP, McKinney; emails with Mrs. Stewart regarding prepare for appeal/Order; emails with Ms. Meredith regarding status, Bakshi offer; revise website update, arrange posting with Sanctions Order; telephone conversation with PHL regarding update data on policies, memo regarding same; request wire payment regarding Stavitsky premium

1.8

05/22/2012 Telephone conversation, along with Ms. Murphy, with Mrs. Smith regarding developments at appeal hearing; emails with Mr. Nunes regarding same; update email from Mrs. Stewart regarding adjournment of appeal; emails with Ms. Meredith regarding status of appeal, call with Investors' Panel; discussions with Ms. Murphy

0.7

05/23/2012 Various emails regarding Bahamas legal situation with Mr. Nunes, Ms. Meredith, and Mrs. Stewart; review Supplemental Submissions from Davis &Co.; conference call

1.8

regarding appeal and future steps with Mrs. Stewart, Mr. Moree, Mr. Nunes, Mr. Grout and Ms. Murphy; review Bahamas press articles

05/24/2012 Discussion with Mr. R. Harris regarding appeal hearing, status; emails with Constable Meschino regarding appeal, queries on documents provided pursuant to Production Order; emails with Mrs. Stewart regarding appeal follow-up issues; emails with Mr. Britton regarding appeal developments; emails with Ms. Meredith; prepare draft website update regarding Bahamian proceedings, circulate to Mr. Nunes and Ms. Murphy and arrange posting; telephone call with Ashley of PHL regarding values for Stavitsky policy; telephone call with Jessie at Conseco regarding status of Anderson policies

1.9

05/28/2012 Review draft Notice of Motion and Order and provide comments to Mr. Nunes; subsequent email exchanges with Mr. Nunes regarding comments on draft materials; revise and finalize letter to Conseco regarding re-submission of drafts for premiums on Anderson policies

0.8

05/29/2012 Review draft affidavit regarding June 11th hearing, provide comments to Mr. Nunes by email, follow up emails; telephone conversation with Ms. E. Novitski of CRA regarding status of HST claim; telephone call with Mr. Friedman regarding interest in brokering certain policy sales; arrange payments on Arking and Bell policies; telephone call with Mr. Gislason, investor; prepare internal memo regarding information received from Conseco on Anderson policies; review R&D, cash position

2.3

05/30/2012 Review further revised draft versions of NOM, Order and affidavit, meet with Ms. Murphy regarding same, provide comments to Mr. Nunes by email; various emails with Mr. Nunes regarding materials and motion for June 11th; review emails from Mrs. Stewart regarding disgorgement and other matters; emails with Constable Meschino; email to Mr. Nunes and Ms. Murphy regarding telephone call with Mr. Friedman, cash position; email and discussion with Mr. Harris regarding review of draft materials

2.2

05/31/2012 1.2

Total 23.8 Asya Rzhevsky

05/01/2012 Prepare and courier to RBC wire to Ocean Club Residences 0.3

05/03/2012 Prepare Receiver's and Manager accounting from Feb 13 to May 2, 2012 0.5

05/07/2012 Prepare and file HST returns from Dec 17, 2008 to Dec 31, 2011 for account RT0001 1.0

05/08/2012 File nil HST returns using Netfile from Dec 17, 2008 to Dec 31, 2011 for account RT0002

0.6

05/16/2012 Prepare letter to Conseco Life Insurance 0.2

05/17/2012 Prepare bank reconciliations 0.5

05/18/2012 Prepare wire to Phoenix Life Insurance Co., courier, update R&D 0.3

05/29/2012 Prepare disbursement vouchers, two wires to PHL, courier to RBC, update premium requirement schedule

0.8

05/31/2012 Prepare disbursement vouchers, three wires to Security Life of Denver, courier to RBC, update R&D

0.5

Total 4.7


Summary of Receiver's Activities for the Month of June, 2012


06/01/2012 Review draft Affidavit and Order regarding OSC decision 1.0

06/18/2012 Discuss Justice Campbell's endorsement of OSC findings and the implications on Bahamas litigation; review Receiver's cash position and projection

1.5

Total 2.5

Elizabeth Murphy

06/11/2012 Attendance at court 0.5

06/18/2012 Review of premium schedules; call with counsel 1.0

06/19/2012 Emails regarding appeal hearing 0.2

06/20/2012 Emails 0.2

06/21/2012 Approval of website update 0.2

06/22/2012 Emails; file oversight 0.2

06/26/2012 Emails 0.2

Total 2.5

Brad Butcher

06/01/2012 Telephone conversation with Ms. C. Bush of PHL regarding status of Arking and Bell policies; prepare internal memo regarding same; arrange wire for payment of Bell premium; emails with Constable N. Meschino of RCMP; emails with Mr. D. Nunes of TGF regarding service of materials

0.8

06/04/2012 Emails regarding issues regarding service of motion materials 0.2

06/05/2012 Emails regarding issues with service of motion materials; telephone conversation with PHL regarding Stavitsky status, grace notice sent in error

0.3

06/06/2012 Emails regarding service status and considerations regarding June 11th motion; emails with Constable Meschino regarding records

0.3

06/08/2012 Review Mr. Nunes's draft affidavit regarding service issues, provide comments, various mails regarding same

0.5

06/11/2012 Attend at Court regarding Receiver's motion regarding claim against Mr. J. Pogachar and Ms. P. Lombardi, OSC Sanctions Order; emails with Constable

3.4

Meschino regarding return of records; telephone conversation with Megan at PHL regarding values for four policies, prepare internal memo regarding same; telephone conversation with Jennifer at AXA regarding Shami and McCann policies, prepare internal memo regarding same; telephone call with Conseco to confirm receipt of two drafts regarding premium payments; update premium calculations and projection spreadsheet

06/13/2012 Meet with Constable Meschino at KPMG office, receive returned hardcopy records, discuss update on investigation; prepare email update to team regarding RCMP status; telephone conversation with PHL regarding status of Barton policy; emails and telephone conversation with Mr. I. Friedman; arrange website update regarding June 11th Order and motion record

1.6

06/14/2012 Various emails regarding filing by Mr. Pogachar and Ms. Lombardi of notice of appeal of OSC decision

0.2

06/15/2012 Review R&D and prepare summary of Receiver's cash position; prepare email to Mr. Nunes and Ms. Murphy regarding cash position, projected requirements and possible options; emails regarding appeal by Mr. Pogachar and Ms. Lombardi; arrange posting of Notice of Appeal

1.0

06/17/2012 Review emails from Ms. Murphy and Mr. Harris regarding cash position and related issues

0.1

06/18/2012 Participate in conference call with Mr. J. Grout, Mr. Nunes and Ms. Murphy regarding cash position analysis, go forward plan, Bahamas appeal; emails regarding Bahamas appeal

0.5

06/19/2012 Receive Proverian monthly death registry report and circulate; emails with Constable Meschino regarding appeal of OSC decision; emails with investors; telephone conversation with Mrs. D. Stewart and Mr. B. Moree of McKinney Bancroft & Hughes regarding results of appeal hearing; prepare email summary of results of hearing and send to team; various emails regarding same; email to Constable Meschino regarding same; arrange payment of McCann premium and update of premium schedule and R&D

1.1

06/20/2012 Review Amended Notice of Appeal from Mr. Pogachar and Ms. Lombardi, emails with Mr. Nunes regarding same, email to Constable Meschino regarding same; arrange posting of Amended Notice on website; prepare draft Update for website, send to Ms. Murphy and Mr. Nunes, revise and arrange posting

0.8

06/21/2012 Review annual report for Arking policy; emails regarding service of statement of claim; email to Mr. K. McElcheran, Representative Counsel, with financial schedules; emails with Mr. Nunes and Ms. Murphy regarding scheduling of call with Rep Counsel

0.4

06/25/2012 Review correspondence from ING regarding Weiss, telephone call to clarify; email response to Mr. Baert, investor; emails with Mr. Nunes regarding OSC appeal and service of Receiver's statement of claim; emails with Rep Counsel regarding conference call

0.6

06/26/2012 Telephone conversation with AIG regarding status of Barsa policy, internal memo regarding same; emails with Rep Counsel regarding scheduling of conference call; conference call with Mr. Nunes, Ms. Meredith and Mr. McElcheran regarding status of Bahamas and OSC appeals, cash position and implications for portfolio; telephone call with Mr. Nunes

1.7

06/27/2012 Arrange payment of remaining premiums for June and update of control spreadsheet; preparation of status summary requested by Rep Counsel

0.7

06/28/2012 Review draft Notice of Motion and Affidavit regarding motion for substituted service, provide comments to Mr. Nunes by email; amend portfolio spreadsheet to reflect potential lapse dates; prepare status summary requested by Rep Counsel; review and revise summary R&D

1.1

06/29/2012 Request payment of Merrill invoices; preparation and editing of status update and schedules requested by Rep Counsel and send to team by email for comment

1.0

Total 16.3

Asya Rzhevsky

06/01/2012 Prepare wire to PHL, courier, update R&D 0.3

06/07/2012 Telephone discussions, fax to RBC and Security Life of Denver: correction of wire processed twice-bank error

0.5

06/11/2012 Update premiums paid summary schedule 0.3

06/15/2012 Prepare wire to PHL, prepare cash position schedule to June 15, 2012 1.2

06/19/2012 Prepare wire to AXA Equitable, update summary schedules 0.6

06/20/2012 Changes to schedules 0.2

06/27/2012 Prepare 4 wires, disbursement voucher, courier to RBC 0.6

06/28/2012 Changes to schedules, update receipts and disbursement summary schedule 0.6

06/29/2012 Changes to premium requirements schedule 0.4

Total 4.7


Summary of Receiver's Activities for the Month of July, 2012


07/03/2012 Review of information from Mr. Butcher regarding cash position; meet with Mr. Butcher regarding same

0.5


07/17/2012 Review of Thornton Grout Finnigan LLP (“TGF”) changes to draft of Opulen Agreement

0.3

07/19/2012 Emails to McKinney Bancroft & Hughes (“McKinney”) regarding appeal 0.2


07/24/2012 Review of draft Opulen Agreement; review/discussion about emails from Mr. L. Leibowitz; review draft of website update notice

0.5

07/25/2012 Preparation for call with McKinney; conference call with McKinney and TFG regarding next steps;

1.0

Total 2.9

Brad Butcher

07/03/2012 Meet with Ms. Murphy regarding draft summary of cash position and portfolio status, emails with Mr. Nunes regarding same

0.5

07/04/2012 Revise status summary and portfolio spreadsheet and send to Rep Counsel by email; emails with Mr. Nunes regarding Court appearance on motion for substituted service, review issued Order; email to Mr. Harris regarding Order; arrange posting on website of Order and related motion record; emails with McKinney regarding Ms. P. Lombardi's failure to pay utility bills

1.2

07/06/2012 Review OSC Reasons regarding Sanctions; telephone conversation with PHL regarding Arking policy and memo regarding same

0.4

07/11/2012 Emails with Mr. E. Largent and Ms. Murphy regarding Opulen proposal 0.1

07/16/2012 Receive draft agreement from Mr. Largent and forward to team 0.2

07/17/2012 Internal emails regarding preparation for Court of Appeal 0.1

07/18/2012 Review Proverian death registry report and forward to team; review Mr. Nunes's mark up of Opulen draft and provide comments to Mr. Nunes and Ms. Murphy; emails with Mr. Largent

0.8

07/19/2012 Emails regarding outcome of Court of Appeal hearing 0.2

07/23/2012 Discussion with Ms. Murphy; email to KPMG General Counsel to advise of appeal decision; prepare summary of legal and business points for internal discussion, send draft to Ms. Murphy and Mr. Nunes; review further draft of Opulen agreement from TGF, provide comments by email to Mr. Nunes; prepare revised draft cash summary schedule under three scenarios; emails with Mr. Liebowitz regarding proposed offer on Bell policy, emails with Ms. Murphy and Mr. Nunes regarding same; arrange conference call with McKinney

2.3

07/24/2012 Emails with Mr. Liebowitz and team regarding offer from Mr. Bakshi on Bell policy; review further revisions to Opulen draft agreement, emails with Mr. Nunes regarding same, send to Mr. Largent; prepare draft update for website, circulate to team, revise and arrange posting; revise financial position schedule, send to Ms. Murphy and Mr. Nunes; email to RCMP regarding appeal outcome; various emails with Mrs. Stewart, Mr. Nunes and Ms. Murphy regarding outstanding issues in Bahamas, matters to discuss on conference call; review draft letter to Mr. D. Ellis of Davis & Co. from Mrs. Stewart and comment

1.7

07/25/2012 Prepare for call with McKinney; participate in conference call regarding next steps in Bahamas with Mrs. Stewart, Mr. Nunes and Ms. Murphy; emails with Mr. Liebowitz

0.9

07/26/2012 Telephone conversation and emails with Mr. S. Picker regarding new mandate for Proverian to update medical information; telephone conversation with Ms. S. Capone, investor

0.3

07/27/2012 Prepare email response to Ms. J. Steele; review McKinney letters to Mr. Ellis and Commonwealth Bank

0.2

07/31/2012 Emails with Ms. Glidewell regarding medical record update project; review grace notice received from AXA regarding McCann policy; emails regarding condo fees

0.4

Total 9.3

Asya Rzhevsky

07/23/2012 Changes and update summary of Receiver's cash to July 23, 2012 0.5

07/24/2012 Changes and update summary of Receiver's cash to July 23, 2012 0.2

Total 0.7


Summary of Receiver's Activities for the Month of August, 2012


08/03/2012 Call with Mrs. D. Stewart of McKinney, Bancroft & Hughes (“McKinney”) 0.7

08/28/2012 Review, finalizing and posting update notice to website. 0.5

Total 1.2

Brad Butcher

08/01/2012 Emails regarding status of Opulen Capital’s review of revised draft broker agreement, settlement issues and considerations regarding process in Bahamas; emails with Mr. L. Liebowitz regarding Bakshi offer on Bell policy

0.6

08/02/2012 Telephone conversation with PHL regarding status of Bell policy, emails and discussion with Ms. Murphy regarding Bell policy headed for grace status absent payment

0.2

08/03/2012 Conference call with Mrs. Stewart, Mr. J. Grout of Thornton Grout Finnigan LLP, Mr. Nunes and Ms. Murphy regarding Bahamas legal matters and options to proceed; various emails

0.5

08/07/2012 Email from Mr. L. Roberts of Bahamas Realty with newspaper article; emails with Mr. E. Largent of Opulen Capital (“Opulen”)

0.1

08/08/2012 Emails with Mr. Largent; telephone conversation with AIG regarding status of Barsa policy, preparation of internal memo regarding same

0.3

08/09/2012 Telephone conversation with Mr. Largent, emails regarding same; emails with Mrs. J. Smith of McKinney regarding utility bill for condo, status of search updates; emails with Mr. Baert, investor; telephone conversation with Franco at ING regarding status of Weiss policies, prepare internal memo regarding same; email to Mr. Nunes and Ms. Murphy regarding Advantage cash call considerations, reporting to Court; emails with Ms. G. Glidewell of Proverian Capital regarding status of medical records update

1.3

08/13/2012 Emails with Ms. Glidewell; file update 0.1

08/16/2012 Emails with McKinney and Kerzner regarding overdue utility bills for condo; emails regarding status of corporate searches, preparation of Bahamas statement of claim

0.4

08/17/2012 Emails with Ms. Glidewell regarding death registry search, update on medical records requests; receive and circulate revised draft agreement from Opulen

0.3

08/20/2012 Receive McKinney invoice, distribute, notify McKinney of discrepancy; emails with Ms. Glidewell

0.3

08/23/2012 Review Mr. Nunes's mark-up of revised draft of Opulen broker agreement, emails with Mr. Nunes and Mr. Largent regarding same

0.3

08/24/2012 Review Proverian update on requests for updated medical information; emails with Ms. Glidewell and Ms. Murphy and Mr. Nunes regarding same; update Portfolio master schedule regarding grace notices, send to Mr. Nunes and Ms. Murphy; prepare draft of website notice regarding Receiver ceasing to make premium payments; emails with Mr. Largent; arrange payments of condo utility bill and Merrill invoices regarding provision of services regarding data site

1.2

Total 5.6

Asya Rzhevsky


Total 0.3


Summary of Receiver's Activities for the Month of September, 2012


09/14/2012 Review of and internal discussion on update to website 0.4

09/11/2012 Reviewing emails; file oversight 0.5

09/14/2012 Review of and internal discussion on update to website; clearing emails 0.7

09/19/2012 Call with Mr. D. Nunes of Thornton Grout Finnigan LLP and Mr. B. Butcher regarding various matters

0.5

09/22/2012 Review of comments on draft letter to Advantage investors; review of and comments on draft notice for website regarding potential lapse of Shami policies

0.3

09/25/2012 Review notice for website; clearing emails; file oversight 0.3

09/27/2012 Emails regarding possible sale of Barsa policy to Opulen Capital (“Opulen”) 0.2

09/28/2012 Emails regarding Barsa policy 0.2

Total 3.1

Brad Butcher

09/04/2012 Emails with Ms. G. Glidewell of Proverian Capital and Mr. Largent of Opulen 0.2

09/05/2012 Emails with Ms. Glidewell regarding updated status of medical records requests and production of LE reports; telephone conversation with ING regarding account values for Weiss policies and prepare internal memo regarding same; telephone conversation with Mr. Liebowitz regarding continued interest of Mr. P. Bakshi in Bell policy

0.8

09/06/2012 Arrange payment of premiums due on Weiss policies 0.2

09/11/2012 Emails with Mr. L. Liebowitz, Ms. Glidewell, Mr. Nunes and Ms. Murphy 0.3

09/12/2012 Various emails with Ms. Glidewell regarding updated medical records and LEs; prepare updated Key Data schedule regarding new LE and costs of insurance information; update discussion with Ms. Murphy; email new Bell LE to Mr. Bakshi; emails with Mr. Liebowitz; emails from Mr. Nunes and Mrs. J. Smith of McKinney Bancroft & Hughes regarding status of Bahamian legal matters

1.2

09/13/2012 Revise Key Data schedule and provide to Mr. Liebowitz; telephone conversation with ING regarding updated data on McGee and Weiss policies, prepare internal

1.3

memo regarding same; prepare draft website update regarding two lapsing policies, circulate for comment to Ms. Murphy and Mr. Nunes

09/14/2012 Emails with Mr. Liebowitz; emails with Ms. Glidewell regarding new medical data; revise draft website posting regarding lapsing policies; emails with Ms. Murphy and Mr. Nunes regarding website posting, funding issues to be addressed for Advantage policies; arrange posting of website update; discussion with Ms. Murphy

0.8

09/18/2012 Emails with Mr. Nunes regarding Advantage issues and considerations regarding proposed cash call; telephone conversation with Mr. G. Barre, investor; emails with Ms. Glidewell regarding additional LE reports received; telephone conversation with Mr. Bakshi regarding interest in taking over AXA policy, confirmation of offer regarding Bell policy; email from Mr. Liebowitz regarding assuming AXA policy

1.2

09/19/2012 Review death registry search from Proverian and circulate; telephone call with Ms. Murphy and Mr. Nunes regarding offer from Mr. Liebowitz to take over AXA policy, status of Bahamian matters, considerations for proceeding with Advantage investors regarding funding; telephone call with AXA regarding process to change policy owner and beneficiary; telephone call and emails with Mr. Liebowitz regarding funding of AXA policy premium, wire instructions and terms regarding same; email to Mrs. Smith regarding outstanding matters; emails with Mr. Largent; update Key Data schedule

1.8

09/20/2012 Telephone conversations and emails with Mr. Liebowitz regarding funds transfer regarding AXA policy; telephone conversations with Mr. P. Grech at RBC regarding funds transfer; prepare draft letter to shareholders of 2108375 Ontario Inc. regarding funds needed to pay premiums, email to Ms. Murphy and Mr. Nunes regarding same; prepare draft notice for website regarding pending lapse of Shami policies and circulate to Mr. Nunes and Ms. Murphy

2.3

09/21/2012 Emails with Mr. Nunes regarding draft letter to Advantage investors; emails with Proverian regarding estimate of value; arrange posting of lapse notice regarding Shami policies on website; arrange wire payment regarding McCann policy, various emails and telephone conversations with RBC regarding same and emails with Mr. Liebowitz

1.6

09/24/2012 Revise draft letter to Advantage investors; emails with Mr. Nunes regarding possible sale of Weiss policies and impact on proposed cash call; various emails with Mr. Largent regarding possible sale of policies; telephone conversation with AXA to confirm receipt of McCann premium payment, emails with Mr. Liebowitz regarding same

1.2

09/25/2012 Prepare draft website notice regarding pending lapse of Barsa policy, send to Mr. Nunes and Ms. Murphy, arrange posting; review appraisal information from Proverian regarding Barsa, internal emails regarding same; emails and telephone conversation with Mr. Largent regarding further information and values on Barsa and Weiss policies

1.1

09/26/2012 Obtain Barsa illustrations from Proverian and provide to Mr. Largent; emails with Corporal N. Meschino regarding status of RCMP investigation

0.3

09/27/2012 Various telephone conversations and emails with Mr. Liebowitz regarding transfer forms and information regarding McCann, interest in additional policies; complete AXA forms regarding change in Ownership and Beneficiary; prepare written request to AXA for account information regarding McCann; telephone conversations and emails with Mr. Largent regarding offer on Barsa, internal emails regarding same

1.4

09/28/2012 Telephone conversations and emails with Mr. K. Seto, investor, regarding lapsing policies; telephone calls and emails with Mr. Liebowitz regarding McCann change forms, further wires of funds regarding takeover of Shami policy; prepare website update regarding Bell and Arking policies and arrange posting; prepare wire instruction regarding Barsa payment, telephone calls with RBC regarding same; emails with Mr. Largent, Mr. Nunes and internally regarding Barsa transaction and premium payment

1.6

Total 17.3

Asya Rzhevsky

09/06/2012 Prepare wires for three Weiss policies, prepare courier to RBC 0.4

09/10/2012 Prepare documents for taxation, bank reconciliations 1.2

09/12/2012 Update summary of key data schedule 0.3

09/13/2012 Update R&D summary and key summary schedules 0.4

Total 2.3


Summary of Receiver's Activities for the Month of October, 2012


10/01/2012 Matters related to lapsing policy Protocol 0.5

10/02/2012 Matters related to lapsing policy Protocol 0.3

10/11/2012 reviewing draft letter to Advantage investors 0.2

10/12/2012 Discussions with Mr. B. Butcher regarding Advantage issues, draft letters to Advantage investors; emails regarding Advantage issues

0.3

Total 1.3

Brad Butcher

10/01/2012 Emails and telephone calls with Mr. K. Seto, investor, regarding interest in policies subject to lapsing policy Protocol; prepare Notice for website regarding caution to investors regarding Protocol process, various drafts of Notice by email with Ms. Murphy and Mr. Nunes, arrange posting; prepare draft NDA for investors under Protocol, send to Mr. Nunes for review, finalize and issue to Mr. Seto; telephone call with AGI confirming receipt of Barsa premium payment; emails with Mr. Nunes regarding Court dates for Barsa, status of OSC regarding appeal; arrange Shami premium wire; emails from Mrs. J. Smith of McKinney Bancroft regarding return of letter of credit

2.3

10/02/2012 Prepare notice for website regarding lapsing of Barton policy, send to team for review; emails and telephone calls with Mr. Seto, arrange access to data site; emails and telephone calls with Mr. L. Liebowitz regarding interest in new policies available under Protocol, change request forms regarding Shami; review offer letter from Opulen Capital regarding Barsa, emails and telephone call with Mr. E. Largent of Opulen regarding same; emails and telephone call with Mr. H. Zail of Proverian Capital regarding Weiss policy valuations, review calculations

1.7

10/03/2012 Emails with Mr. Seto regarding withdrawal of interest; emails regarding update from Commonwealth Bank, prepare calculation; summarize results of Proverian's valuation of Weiss policies, email to team regarding same; revise Notice regarding Barton policy and post; emails with Mr. Nunes regarding further Notice on Protocol regarding competing bids; telephone call with AXA regarding current amounts regarding McCann and Shami policies, emails with Mr. Liebowitz regarding same; complete beneficiary change form regarding Shami policy; emails with Mr. Largent; update Key Data schedule portfolio and circulate

2.2

10/04/2012 Email and telephone call with Ms. S. Goritz, investor; emails with Mrs. Smith regarding condo carrying costs for statement of claim; emails and telephone calls with Mr. Liebowitz regarding wires of funds for assumption of lapsing policy; emails and telephone call with Mr. Largent regarding Barsa policy offers, access to

1.3

data room; emails with Mr. Nunes regarding sale option for Weiss policies/Advantage investors

10/05/2012 Review draft statement of claim from McKinney, prepare mark-up and send to Ms. Murphy and Mr. Nunes; numerous emails with Mr. Liebowitz and his associates regarding wires of funds to cover Bell policy premium, internal discussions regarding same, follow up on banking, initiate wire request to pay Bell grace premium; emails with Mr. Largent and Merrill regarding access to data room for Mr. Largent

1.6

10/09/2012 Arrange payment of outstanding utilities for condo, including emails with property manager; emails with Mr. Largent regarding data room access, status of offers on Barsa; telephone conversation with PHL regarding confirmation of payment on Bell policy

0.7

10/10/2012 Telephone call with PHL regarding status of Bell policy; telephone call with AXA regarding status of processing of change forms; emails with Mr. Liebowitz regarding Bell information, change forms; update Key Data schedules regarding Portfolio changes; revise prototype Advantage letter to investors, send to Mr. Nunes, review his comments; emails with CIBC and Mrs. Smith regarding instructions to return original letter of credit to FirstCaribbean International Bank for cancellation; emails with Mr. Seto regarding Protocol policies; emails with Mr. Nunes regarding Bahamas statement of claim

1.8

10/11/2012 Revise draft letters regarding Advantage, emails with Mr. Nunes regarding same; emails with Mr. Liebowitz; review Mr. Nunes's mark-up of Bahamian statement of claim; telephone conversation and email with Mr. Conway; telephone conversation with AXA regarding confirmation of processing of change forms

2.0

10/12/2012 Further revisions to Advantage letters, emails with Mr. Nunes and Ms. Murphy regarding same, discussion with Ms. Murphy; finalize and issue letters regarding those with an interest in policy #230; telephone call with Mr. K. Ryan at PHL regarding Alfieri and Solomon data, update Key Data chart regarding same; emails and telephone call with Mr. Largent regarding proposed offer; prepare confidentiality agreement for Mr. Conway of Longevity; complete beneficiary change form for Bell, send to PHL and Mr. Liebowtiz; receive change confirms from AXA, send to Mr. Liebowitz; telephone call to Ms. Wiebe; emails regarding offer from GWG Life Settlements, LLC (“GWG”)

3.0

10/15/2012 Telephone conversation with ING regarding McGee policy; telephone conversation with AGI regarding Barsa and Parsley policies and prepare internal memos regarding same; provide update to Mr. Nunes on GWG transaction; emails with Mr. Largent regarding GWG offer; emails with Mr. Conway;

2.0

10/16/2012 Compile professional fee information for Bahamas statement of claim and provide to Mr. Nunes; review offer from Longevity regarding Barsa; file review and various emails with Mr. Largent and Mr. Nunes regarding diligence issues on Barsa offer from GWG; emails with Advantage investors regarding release of contact information; revise letters to Advantage investors regarding policies #231 and #223,

2.2

circulate drafts to Mr. Nunes, emails regarding same; prepare control list for Advantage investor responses

10/17/2012 Review annual statement for McGee policy; emails with Mr. Miller, Advantage investor; telephone call with AGI regarding Barsa Verification of Coverage/Summary revision; telephone calls and emails with Mr. Largent regarding GWG transaction details; receive Proverian SSDR report, circulate; emails with Mr. Liebowitz regarding premium funding required; review Mr. Nunes' combined mark- up of draft statement of claim sent to McKinney

1.4

10/18/2012 Telephone call with Mr. B. West, Advantage investor; emails with Constable Meschino and Mr. McAuley regarding RCMP request to meet regarding imaging procedures; telephone call with AXA regarding McCann and Shami balances, email to Mr. Liebowitz regarding same; distribute contact list for investors in policy #230; phone messages to non-responsive investors on that list; update emails with Mr. Largent regarding possible sale of Weiss policies; obtain Barsa illustration from AIG and send to Mr. Largent; emails with Mr. R. Herbold, Advantage investor; telephone call and email with Ms. B. Shetty

2.3

10/19/2012 Emails with Mr. Largent regarding GWG status of review, process to advance documents; emails and telephone call with Mr. Bachert; various emails with Ms. M. Cheung Woo and other Advantage investors regarding information on policies and process; telephone call with Mr. A. Miller; emails with Mr. Liebowitz regarding funding of premiums, wire in process

1.7

10/22/2012 Email with Dr. West and Mr. Miller regarding information requests regarding Advantage; telephone call with April at ING regarding status of Weiss policies, request annual statements; emails with Mr. Liebowitz regarding funding transfer and premium payment regarding McCann policy, mandate and contact information for Proverian; emails with Proverian; email with Mrs. Schellenberg, investor; telephone calls and emails with Mr. W. Heiderich, Advantage investor; emails with Mrs. Stewart regarding condo access for inspection; review Proverian invoices

1.0

10/23/2012 Request analysis of payments received from and made on behalf of Anglo Management, review and revise; telephone call with Mr. M. Bachert; emails with Dr. West, Ms. Cheung Woo, Mr. Bachert, Mr. J. Wallsten regarding Advantage matters; emails with Mr. Largent regarding update on contract preparation by GWG; update contact list regarding Advantage; emails regarding condo fees due

1.6

10/24/2012 Emails with Mr. Nunes regarding Advantage issues; review year over year increases in costs regarding Weiss policies; telephone conversation with PHL regarding status of Bell change request; telephone conversation with AGI regarding Barsa letter; emails with Mr. Wallsten, Mr. Mitchell, Mr. Bachert, Ms. Cheung Woo and Mr. Miller regarding Weiss policy issues; update Advantage contact list/response summary; emails with Mr. Liebowitz regarding premium funding, request for names of other investors

1.9

10/25/2012 Emails regarding Advantage issues 0.3

10/26/2012 Telephone call with PHL regarding Bell beneficiary transfer form, emails with Mr. Liebowitz regarding same; emails with Mr. Liebowitz regarding funding required

1.4

for Shami premiums; telephone call with AGI regarding letter on contestability period passed, receive and review letter, forward to Mr. Largent, emails regarding status of documents with Mr. Largent; arrange payments of Q3 condo fees, Barsa premium; emails with certain Advantage investors regarding status of decision

10/29/2012 Review letter from Mrs. Stewart regarding outstanding fees, circulate to team; emails with Mr. Liebowitz regarding wire transfers to pay Shami; arrange payment to AXA regarding Shami; email from Dr. West regarding sell decision, email to Mr. Largent regarding possible interest in West's policy

0.8

10/30/2012 Emails regarding Advantage policy status and issues with Dr. West, other Advantage investors, Mr. Largent; telephone conversation with Mr. Largent; email with Mrs. Smith regarding fees, statement of claim

0.6

10/31/2012 Emails with Mr. Nunes regarding queries from Mrs. Smith on statement of claim revisions; emails with Advantage investors

0.3

Total 34.1

Asya Rzhevsky

10/01/2012 Prepare wire, follow-up with RBC, update R&D 0.4

10/03/2012 Prepare summary schedule of estimated values for Weiss policies 0.6

10/05/2012 Prepare September 2012 bank reconciliations, emails and telephone RBC regarding incoming wires, prepare disbursement voucher, wire to Phoenix Life Insurance

0.9

10/09/2012 Prepare disbursement voucher, wire to Ocean Club Residences 0.3

10/12/2012 Update summary of Key Data for Portfolio 0.2

10/22/2012 Telephone to RBC regarding wire from Anglo Management, prepare and fax wire request to RBC regarding payment to AXA for McCann premium

0.3

10/23/2012 Prepare summary schedule of receipts and disbursements received from Anglo Management, prepare wire to Ocean Club

0.6

10/29/2012 Prepare wires to AIG for Barsa policy, Ocean Club for HOA dues and AXA for Shami policy, telephone and emails from RBC regarding wire from Anglo Management

0.9

Total 4.2


Summary of Receiver's Activities for the Month of November, 2012


11/07/2012 Review of outstanding matters; discussion with Mr. B. Butcher, Mrs. D. Stewart of McKinney, Bancroft & Hughes

0.6

11/12/2012 Email to Mrs. D. Stewart; internal discussions with Mr. Butcher and Mr. R. Harris 0.5

11/14/2012 Call with Mrs. Stewart 0.4

Total 1.5

Brad Butcher

11/01/2012 Emails with Corporal N. Meschino of RCMP regarding meeting with KPMG Forensics, status of investigation; emails with Mr. M. Bachert, Mr. A. Miller, Mr. D. Nunes of Thornton Grout Finnigan LLP (“TGF”), Mr. E. Largent of Opulen Capital (“Opulen”) regarding Advantage issues

0.7

11/02/2012 Telephone call with PHL regarding status of Bell change request, email to Mr. L. Liebowitz regarding same; telephone call with AXA regarding account amounts regarding Shami and McCann policies, prepare file memo regarding same; emails with Mr. Largent regarding GWG status, follow up on approach to obtaining updated data regarding Weiss; obtain blank ownership and beneficiary transfer forms from ING and review; arrange and review analysis of Weiss payments made from Advantage account

1.2

11/06/2012 Telephone conversation with PHL regarding values for Bell policy and status of change of beneficiary request; emails with Mr. Liebowitz regarding queries on policies assumed pursuant to Protocol; emails with Mr. Largent, including receipt of draft sale agreement template and sending to Mr. Nunes and Ms. Murphy; emails with Mr. Miller regarding funding of premiums on Weiss policy #230

0.8

11/07/2012 Prepare data summary for three policies assumed by Anglo Management and send to Mr. Liebowitz

0.5

11/08/2012 Telephone conversation with Mr. Miller regarding payment process, status of policy 0.2

11/09/2012 Review Barsa annual statement and send to Mr. Largent, further emails with Mr. Largent regarding GWG; telephone conversation with ING regarding values of Weiss policies, prepare internal memo regarding same; arrange payment of premiums on two Weiss policies; emails with Mr. Miller, including regarding payment information and wire instructions

1.0

11/12/2012 Telephone conversation with Mr. Ellis regarding GWG documents, possible approach to obtaining AVS LE for Weiss, email to Mr. Nunes and Ms. Murphy regarding

0.4

same; emails with Mr. Bachert, Ms. B. Shetty and Mr. Miller regarding Advantage issues

11/13/2012 Emails with Mr. Bachert and Ms. Shetty, Advantage investors; emails with Mr. S. Picker of Proverian Capital; email with Mr. Nunes regarding template for GWG agreement

0.3

11/14/2012 Emails with Mr. Largent regarding Barsa and Weiss; emails with Mr. Miller regarding proposed meeting; emails with other Advantage investor

0.3

11/15/2012 Emails with Opulen 0.1

11/16/2012 Emails with Mr. Largent; emails with Mr. Nunes regarding GWG transaction, including KPMG mark-up, and update on Lombardi appeal of OSC sanctions; emails with Mr. Badry, representative of investor

0.5

11/19/2012 Telephone conversation with PHL regarding status of Bell transfer; emails with Mr. Liebowitz regarding PHL transfer status, other matters regarding policies assumed; telephone conversation with ING regarding current data on Weiss policies and prepare internal memo regarding same; emails with Opulen regarding status of GWG transaction, including form of escrow agreement; emails with Proverian, receive death registry search and circulate to Mr. Nunes and Ms. Murphy; send confidentiality agreement to Mr. Badry; email with Mr. Bachert

1.2

11/20/2012 Prepare letter to ING regarding authorization to provide information to Mr. Miller regarding policy # 230; email to Mr. Miller regarding same; emails with Mr. Liebowitz;

0.5

11/22/2012 Receive appeal certificate from Mrs. Stewart, send to Mr. Nunes and Ms. Murphy 0.1

11/23/2012 Email to Mr. Nunes including comments on proposed transaction with GWG along with further mark-up of GWG sale agreement

0.4

11/26/2012 Emails with Opulen personnel 0.1

11/27/2012 Telephone conversation with Mr. Largent regarding Weiss and Barsa; receive GWG form of escrow agreement from Opulen, send to Mr. Nunes, emails regarding same; emails with Mr. Liebowitz regarding wiring of funds to cover premiums

0.3

11/28/2012 Email from Mrs. Stewart regarding finalization of statement of claim; emails with Mr. Liebowitz regarding wires for premium payments, internal follow up regarding status of wires

0.3

11/29/2012 Arrange posting of Bahamian Statement of Claim and Court of Appeal certificate on website; telephone call with AIG regarding Barsa status; email to Advantage investors regarding values for #231 and #223; email with Mr. Liebowitz; follow up on Anglo wire, arrange premium payments for Bell, Shami and Barsa;

1.0

11/30/2012 Arrange payment of Merrill invoices; emails with webmaster regarding postings on site; emails with Opulen regarding Barsa sale

0.4

Total 10.3

Asya Rzhevsky

11/02/2012 Prepare summary schedule of all payments to date for Weiss policies from Advantage accounts

0.4

11/07/2012 Prepare summary schedule of policies assumed by Anglo Management 0.4

11/08/2012 Prepare wire between Advantage and Strategies bank accounts 0.3

11/09/2012 Prepare two wires for Weiss policies 0.3

11/29/2012 Follow-up with RBC regarding wires from Anglo Management, prepare disbursement vouchers, 3 wires, update R&D

0.7

Total 2.1


Summary of Receiver's Activities for the Month of December, 2012


12/07/2012 Email to Mr. B. Goddard of Bingham, McCutchen; call with Mr. E. Largent of Opulen Capital (“Opulen”)

0.3

12/10/2012 Internal emails regarding McKinney Bancroft (“McKinney”) accounts; email to Mrs. D. Stewart of McKinney

0.5

12/13/2012 Emails; discussions with Mr. B. Butcher regarding Bahamas and sale of policy 0.2

12/14/2012 Emails; discussions with Mr. Butcher regarding Bahamas and sale of policy 0.2

Total 1.2

Brad Butcher

12/03/2012 Various emails regarding draft documents related to proposed sale of Barsa policy to GWG; email from Dr. B. West, Advantage investor

0.5

12/06/2012 Emails regarding RCMP information requests; emails regarding Advantage investors' positions

0.3

12/10/2012 Telephone conversation with daughter of investor (Margolese); emails regarding McKinney’s request for fee payment; telephone call with ING regarding Weiss status; emails with certain Advantage investors

0.8

12/11/2012 Initiate premium payments on two Weiss policies; emails with Ms. A. Henricksen of Opulen regarding status of Barsa sale, send annual statement; emails with Mr. A. Miller; various emails with Constable N. Meschino and Mr. D. Nunes regarding RCMP's request for further electronic documents

1.1

12/12/2012 Emails and telephone call with Ms. S. Collins of OSC regarding documents provided to RCMP; emails with Mr. Nunes regarding RCMP document request, search for origin of documents in question; emails with Constable Meschino regarding same; telephone call with Phoenix regarding Bell policy, grace notice; email to Mr. L. Liebowitz regarding same; email update to Mr. Nunes and Ms. Murphy regarding Advantage policies, including offer to purchase #223 from Mr. Bachert

1.6

12/13/2012 Emails with Opulen regarding update on GWG transaction; telephone conversation with Mr. J. Ganer, outside counsel for Phoenix, regarding affidavit needed from Receiver regarding Bell transfer; emails with Mr. R. Castonguay, Mr. Nunes, Ms. Collins regarding records requested by RCMP; emails with Mrs. Stewart and Mr. Nunes, and discussion with Ms. Murphy regarding new settlement offer from Ms. Lombardi's counsel, status of statement of claim and defense to same

1.7

12/14/2012 Conference call with Mrs. J. Smith of McKinney and Mr. Nunes regarding settlement proposal, process to obtain default judgment; emails with Mr. G. Mitchell, Advantage

1.8

investor, regarding potential sale of policy #223; emails regarding Order for security for costs regarding appeal of OSC decision, including with Mr. Nunes and Constable Meschino; arrange posting of security for costs Order and endorsement on Receiver's website; emails with Mrs. Smith; emails with Mr. Liebowitz regarding transfer issues, details of new U.S. corporation

12/17/2012 Review monthly death registry search report and circulate; send confidentiality agreement form to Mr. B. MacKay per request

0.3

12/18/2012 Telephone conversation with AIG regarding updates balances on Barsa and Parsley policies; telephone conversation with Ms. Henricksen regarding GWG status, Verification of Coverage needed from AIG; send Appointment Order to Ms. Henricksen

0.7

12/19/2012 Receive mark-up of sale agreement and escrow agreement from GWG, preliminary review and send to Mr. Nunes; email and telephone conversation with Ms. Henrickson regarding same; emails regarding McKinney fee arrears

0.8

12/20/2012 Emails with Mr. Liebowitz regarding Shami payment; initiate Barsa payment; emails with Mr. Nunes regarding GWG status; emails with Corporal Meschino

1.0

12/21/2012 Confirm receipt of funding from Anglo, arrange Shami payment; Bell change form and cover letter

1.0

Total 11.6

Robert Castonguay

12/06/2012 Review of summary emails to file; conference call with RCMP; follow-up email with Mr. Butcher and Mr. J. McAuley

0.8

Total 0.8

Asya Rzhevsky

12/03/2012 Prepare fax and pick up draft from RBC, mail draft & update R&D 0.4

12/11/2012 Update Anglo Management receipts and disbursements schedule, prepare two wires to ING for B. Weiss policies

0.6

12/18/2012 Prepare wire to Ocean Club 0.3

12/20/2012 Prepare disbursement voucher, wire to AIG re: Barsa premium 0.3

12/21/2012 Prepare disbursement voucher, wire to AXA Equitable re: Shami premium 0.3

Total 1.9



August 15, 2019





Our Fee $ 87,365.50 CAD

$ 87,365.50 CAD

HST 11,357.52







Page 1 of 1





Name Position Rate Hours Total Fees R. Harris Partner $ 640.00 2.50 $ 1,600.00 E. Murphy Associate Partner $ 600.00 14.20 $ 8,520.00 J. Bradley Butcher Senior Manager $ 550.00 112.50 $ 61,875.00 R. Castonguay Senior Manager $ 550.00 3.70 $ 2,035.00 D. Garwood Manager - Forensic $ 300.00 3.20 $ 960.00 D. Garwood Manager - Forensic $ 335.00 0.50 $ 167.50 R. Toscano Specialist - Forensic $ 275.00 8.30 $ 2,282.50 R. Toscano Specialist - Forensic $ 325.00 0.50 $ 162.50 A. Shahbou Staff Accountant - Forensic $ 230.00 5.50 $ 1,265.00 A. Rzhevsky Technician $ 230.00 32.60 $ 7,498.00 R. Palazzo Admin $ 80.00 12.50 $ 1,000.00 Total Fees Incurred Expenses

196.00 $ 87,365.50

Type Amount $ -

Total Expenses Incurred $ -


$ 87,365.50 $ 11,357.52

Total $ 98,723.02


Summary of Receiver's Activities for the Month of January, 2013


01/29/2013 Review Purchase and Sale Agreement and Escrow Agreement regarding GWG transaction

1.0

Total 1.0

Elizabeth Murphy

01/10/2013 Update with Mr. Butcher 0.2

01/28/2013 Call with Mrs. D. Stewart of McKinney Bancroft (“McKinney”) regarding various matters. Update with Mr. Butcher

0.3

Total 0.5

Brad Butcher

01/02/2013 Telephone call with Mr. I. Friedman regarding interest in portfolio; telephone call with ING regarding status and values for Weiss and McGee policies, prepare internal memos regarding same; review email from Mr. D. Nunes of Thornton Grout Finnigan LLP to Mrs. J. Smith of McKinney regarding status of Bahamas action; email to Mrs. Smith regarding watches; emails with Ms. A. Henricksen of Opulen Capital and Mr. Nunes regarding GWG status, set up conference call

0.8

01/03/2013 Review GWG draft sale agreement; telephone conversation with Mr. Nunes regarding preparation for conference call with GWG; conference call with Mr. E. Largent, Mr. Nunes, Mr. Mayfield and Mr. Marant of GWG regarding Receiver's concerns with draft agreement; email to Ms. Murphy regarding GWG status

1.2

01/04/2013 Arrange payment of Merrill invoices; revise portfolio summary of Key Data and send to Mr. Friedman; telephone conversation with Mr. Friedman; respond to investor email

0.7

01/07/2013 Emails with Mr. Nunes regarding proposed purchase of policy by Mr. M. Bachert; email to Mr. Bachert in response to his queries; email updated LEs to Mr. Friedman; email to Dr. B. West, Advantage investor, regarding funding required from him to pay premiums; completion of AXA change request forms for ELSM Ventures

1.2

01/08/2013 Prepare change of ownership forms for AXA regarding McCann and Shami and send to Mr. L. Liebowitz for input; various emails with Mr. Liebowitz regarding change forms, premiums due, additional policies which may lapse; follow up emails with Opulen regarding status of GWG agreement; emails with Dr. West regarding funding required to cover premiums; email to Mr. Bachert regarding process to purchase policy, confidentiality agreement; request wire payments for two Weiss policies;

1.7

telephone call with AIG regarding Barsa values, request letter regarding loans, prepare internal memo

01/09/2013 Telephone call with PHL regarding updated values for Alfieri and Solomon policies, prepare internal memo regarding same; telephone call with Mr. Friedman; telephone call with AIG regarding updated information on Parsley policy; prepare update of portfolio summary/Key Data and circulate to Ms. Murphy and Mr. Nunes with commentary on cash position and issues

1.2

01/10/2013 Telephone conversation with AXA regarding Shami values, prepare internal memo regarding same; email to Mr. Liebowitz refunding needed for Anglo policies; review Proverian invoices and prepare summary; emails with Mr. Largent regarding GWG

0.8

01/11/2013 Emails regarding access to Merrill site for Mr. Bachert; review revised GWG draft documents, emails with Mr. Nunes regarding comments; telephone call with Mr. Nunes; emails with Mr. Largent; emails with Mr. Liebowitz, including providing updated accounting of premium payments made on behalf of Anglo; emails with Ms. Glidewell regarding reconciliation of balance due to Proverian

1.6

01/14/2013 Review further markup from Mr. Nunes of GWG draft sale agreement and escrow agreement, prepare further changes, various emails with Mr. Nunes regarding same; send revised draft of agreement to Opulen, emails regarding same; email to Mr. B. Goddard of Bingham McCutchen regarding status of GWG transaction;

1.2

01/15/2013 Emails with Merrill regarding access re-set for or Mr. Friedman; emails with Mr. Castonguay re: search of imaged documents; email to Constable Meschino; emails with Mr. Goddard regarding draft GWG documents, issues to investigate; email with Opulen regarding status of GWG documents; receive letter regarding no liens from AGI, send to Opulen

0.8

01/16/2013 Telephone conversation with investor; update emails with Constable Meschino; email to Ms. Glidewell regarding changes to names for inclusion in death registry search; receive cheque from Dr. B. West, Advantage investor to fund premium

0.4

01/17/2013 Review Bingham comments on sale agreement and escrow agreement, emails regarding follow up on same, set up conference call; conference call with Mr. Nunes and Mr. Flores regarding Bingham mark ups of sale documents; email to Mr. Liebowitz regarding premium funding required; email to Ms. Henricksen

1.4

01/18/2013 Emails with Proverian; emails with Opulen; emails with Mr. Liebowitz refunding en route and premium payments to be made, follow up on wire transfers

0.3

01/21/2013 Review Mr. Nunes' further mark-up of GWG escrow agreement and sale agreement based on Bingham input, email to Mr. Nunes with queries; arrange payments on behalf of Anglo of Shami, McCann, Bell premiums

0.7

01/22/2013 Review Proverian monthly death registry report and circulate; emails with Mr. Nunes regarding mark-ups of GWG agreements; email to Mr. Miller regarding his late payment to ING regarding Advantage policy

0.6

01/23/2013 Send revised markups of GWG sale documents to Opulen; telephone conversation with Ms. Henricksen; emails with Mr. Nunes

0.4

01/24/2013 Prepare draft affidavit regarding Bell policy and associated trust as requested by PHL external counsel; prepare draft of IRS EIN application form and Bingham authorization regarding sale, send to Ms. Miller at Bingham

0.8

01/25/2013 Revise draft affidavit regarding Bell Trust and send to Mr. J. Ganer; revise IRS EIN application for 1660690 Ontario Ltd. per comments from Ms. Miller and send to her; arrange payment of McGee premium

0.6

01/28/2013 Discussion with Ms. Murphy regarding her call with Mrs. Stewart; emails with Mr. Nunes and Mrs. Stewart regarding Bahamas status, set up conference call; telephone call with Ms. J. Steele regarding status of condo realization; emails with Ms. Henricksen regarding GWG turnaround of documents, emails with Mr. Nunes regarding same, further comments received from GWG

0.7

01/29/2013 Review Mr. Nunes' further changes to draft documents and comment by email; receive further revised mark-ups from Mr. Nunes; conference call with Mrs. Stewart, Mrs. Smith, Mr. Grout, Mr. Nunes and Ms. Murphy regarding status of OSC appeal, Bahamian proceedings and further affidavit material to be prepared; request payment of Barsa premium; emails with Mr. Harris and Ms. Murphy regarding GWG draft sale documents

1.7

01/30/2013 Emails with Ms. Henricksen regarding further revised mark-ups; prepare email to Ms. Murphy and Mr. Nunes with considerations and outline for next court report; review letter from Mr. Pogachar's new counsel

1.1

01/31/2013 Update emails with Mr. Castonguay re: search of imaged files; telephone conversation with April at ING regarding confirmation of McGee in good standing, request illustration for Weiss #223

1.0

Total 20.9

Robert Castonguay

01/08/2013 Review emails from Mr. Butcher and RCMP; coordinate required work with team, summary email with instructions to team; email sent to RCMP for document listing they are to provide.

1.0

01/15/2013 Email response to Mr. Butcher re: research for two emails; follow-up briefing with Mr. R. Toscano and Mr. Nunes re: research for two emails; reviewing targeted process versus a wider net; started drafting of follow-up email to Mr. Butcher; instructions to Mr. Toscano for some additional searches.

1.6

01/17/2013 Email exchanges with Mr. R. Toscano and follow-up with Mr. Butcher 0.3

01/31/2013 Response to Mr. Butcher, drafted and transmitted email response to the RCMP 0.8

Total 3.7

Daniel Garwood

01/08/2013 Review of exchanges with RCMP; discussions with Mr. Castonguay and Mr. Toscano 1.2

01/09/2013 Discussions with Mr. Toscano re: location of original email docs 1.5

01/15/2013 Discussions with Mr. Castonguay and Mr. Toscano re: completeness of searches 0.5

Total 3.2

Ahmed Shahbou

01/21/2013 Email review 0.5

01/23/2013 Email review 1.0

Total 1.5

Roberto Toscano

01/09/2013 Uploaded into Outlook and reviewed several pst files in order to search for two specific email messages; searched client imaged hard drives; indexed several pst files in DTSearch

4.0

01/10/2013 Searched in DTSearch the indexed emails for the two specific emails; searched for other pst files within the imaged hard drives

3.3

01/15/2013 Discussion with Mr. Garwood and Mr. Castonguay re: the procedures taken for the search of the two special email messages

1.0

Total 8.3

Asya Rzhevsky

01/04/2013 Prepare disbursement voucher, draft to Merrill Corporation, pick-up from RBC 0.5

01/08/2013 Prepare bank reconciliation from October to December 2012, prepare disbursement voucher and wire to Ocean Club Residences

0.8

01/09/2013 Prepare two wires to Security Life Denver, update R&D's to Jan 9, 2013, changes to summary of key data schedule

1.0

01/11/2013 Obligation due to Proverian summary schedule, update Anglo Management schedule 0.5

01/16/2013 Prepare deposit to advantage account, banking 0.3

01/21/2013 Prepare wires for Bell, Shami and McCann policies 0.5

01/24/2013 Renew redirection of mail, prepare three forms, cheque and deliver to Post Office 1.0

01/25/2013 Prepare wire to Security Life of Denver 0.3

01/29/2013 Prepare wire to AGI re: Barsa premium 0.3

Total 5.2


Summary of Receiver's Activities for the Month of February, 2013

Richard Harris

02/14/2013 Review and execute agreement of purchase and sale regarding AGI life insurance policy

0.5

02/26/2013 Follow up on Order approving sale of policy 0.5

Total 1.0

Elizabeth Murphy


02/19/2013 Calls with Mrs. D. Stewart and Mr. B. Moree of McKinney (“McKinney”); emails with Mr. B. Butcher

0.5

02/21/2013 Review and comments on draft of Receiver’s 10th Report to the Court (the “Tenth Report”)

1.0

Total 1.6

Brad Butcher

02/01/2013 Emails with Mr. E. Largent of Opulen Capital (“Opulen”) 0.1

02/04/2013 Telephone conversation with Mr. L. Liebowitz of Anglo Management regarding status of change of ownership and beneficiary forms for policy acquired under Lapsing Policy Protocol

0.2

02/05/2013 Emails with Constable N. Meschino of the RCMP and Mr. D. Nunes of Thornton Grout Finnigan LLP regarding request for information on Groia and Document Protocol; emails with Opulen regarding status of GWG review, further documents required

0.1

02/06/2013 Emails with Constable Meschino and Mr. Nunes regarding follow-up on Protocol queries; arrange payment of Proverian fees; emails with Mr. Largent regarding GWG confirmation of acceptance of changes to documents; emails with Mr. Liebowitz

0.6

02/07/2013 Emails with Mr. Largent and Receiver team regarding tentative approval from GWG; telephone conversations with AXA, ING, AIG and PHL

0.8

regarding updated information on policies, prepare internal memos regarding same; update Key Data summary regarding current premium due dates; receive ING notice regarding McGee policy in good standing

02/08/2013 ING regarding Weiss 223 illustrations; emails with Mr. M. Bachert regarding sale issues, provide illustrations

0.3

02/11/2013 Emails regarding follow up on GWG transaction, fixing of Court date; emails with Mr. Liebowitz regarding Solomon status, Anglo payments; emails regarding RCMP inquiries

0.3

02/12/2013 Emails with Constable Meschino; emails with Mr. Largent regarding GWG status

0.2

02/13/2013 Emails and telephone conversation with Mr. Largent; RCMP follow up 0.2

02/14/2013 Prepare GWG agreements for signature; provide executed copies to Opulen; emails with Mr. Ellis regarding same; emails with Mr. Liebowitz

0.5

02/15/2013 Preparation of Tenth Report regarding GWG sale 1.5

02/18/2013 Emails and telephone call with Ms. Murphy regarding inquiries about sale of condo

0.2

02/19/2013 Review of drafts of Notice of Motion and Order, emails with Mr. Nunes regarding same; preparation of Tenth Report, file review regarding same; emails regarding Proverian updated death registry search; receive signed GWG agreement from Opulen, forward to team

1.7

02/20/2013 Preparation of Tenth Report and circulation of draft to Mr. Nunes and Ms. Murphy; emails with Mr. Nunes regarding Tenth Report and motion materials; emails with Mr. T. Siefke, investor; telephone call with Mr. S. Picker of Proverian regarding issues with life expectancy report providers; emails with Mr. B. MacKay regarding interest of Mr. Logsdon, failure to log onto data site

2.3

02/21/2013 Various matters to finalize Tenth Report including consideration and processing of revisions by Mr. Nunes and Ms. Murphy, revise appendices; review draft Receiver's Certificate, emails with Mr. Nunes regarding same; emails with Opulen regarding confirmation of escrow funds and waiver letter regarding conditions; telephone call with Mrs. J. Smith of McKinney; assemble and send AXA ownership change form regarding Shami, email to Mr. Liebowitz regarding same;

4.3

02/22/2013 Arrange posting of Tenth Report on website; email with Constable Meschino regarding Tenth Report, counsel change; emails with Mr. Bachert regarding cost of insurance for #223; emails with Mr. A. Miller status of court approval of Advantage transition; confirm receipt of wires in from Anglo, arrange payment of Bell and Shami premiums; emails with Mr. Nunes; emails with

1.2

Mr. Bachert, Mr. Mitchell, Mr. Wallsten regarding proceeding with third party sale of #223

02/25/2013 Emails with Mr. K. McElcheran regarding portfolio update; conference call 0.8 with Mr. Nunes and Mr. McElcheran regarding GWG sale, portfolio status, Receiver's motion; emails with Mr. Largent regarding Weiss policy availability

02/26/2013 Attend Court regarding approval motion regarding sale of AGI policy to 3.4 GWG; review issued Order and Endorsement; arrange posting of Order on website; complete ownership change form, various emails with Ms. A. Henricksen of Opulen regarding ownership and beneficiary change forms, process for submission; emails with Proverian and Mr. Largent regarding

updated 21st Services LE needed for Weiss

02/27/2013 Review change forms completed by GWG, emails and telephone 1.2 conversation with Ms. Henricksen regarding same; emails regarding Weiss updated 21st LE; emails with Mr. Liebowitz regarding McCann payment; email from Mr. Nunes regarding affidavit for Bahamas proceeding, issue regarding OSC appeal hearing

02/28/2013 Emails with Mr. Nunes and Mrs. Stewart regarding OSC appeal and 1.0 Bahamas proceeding, timing of filing of affidavit; emails with Ms. Henricksen regarding mistakes in change forms sent by GWG and Opulen

Total 20.9

Asya Rzhevsky

02/06/2013 Prepare wire request to accounting for Proverian payment 0.3

02/07/2013 Prepare wire to Ocean Club Residences 0.3

02/20/2013 Prepare wire to Ocean Club Residences & Marina 0.3


02/22/2013 Prepare two wires 0.4

02/26/2013 Prepare draft request to Merrill Corporation, pick up from RBC, prepare wire 0.6 to American General for Barsa premium payment

Total 2.1


Summary of Receiver's Activities for the Month of March, 2013

Richard Harris

03/01/2013 Review and execute transfer of beneficiary and ownership forms regarding GWG sale

0.5

Total 0.5

Brad Butcher

03/01/2013 Emails with Ms. A. Henricksen of Opulen Capital (“Opulen”) regarding further queries on forms; arrange signatures on change request forms and send to escrow agent by email and courier; email update to Bingham regarding Barsa sale; emails with Mrs. D. Stewart of McKinney and Mr. D. Nunes of Thornton Grout Finnigan regarding status of watches given counsel change, draft affidavit for review; telephone conversation with AXA regarding status of McCann policy in grace, emails with Mr. L. Liebowitz regarding same; prepare draft website update and circulate for review

1.2

03/04/2013 Review draft of Mr. Grout’s affidavit for filing in Bahamas; telephone call with AGI regarding Barsa policy values, internal memo regarding same; arrange posting of Receiver's Update on website

0.7

03/05/2013 Telephone conversation with Mr. G. Barre, investor; emails with Mr. Largent of Opulen regarding Weiss policy #223; emails with Ms. Henricksen regarding submission of change requests to insurer

0.4

03/06/2013 Emails with Mr. Largent, send him recent Weiss illustration; telephone call with ING regarding McGee status and prepare memo; telephone call with PHL regarding Alfieri status and prepare memo; update Key Data schedule regarding Portfolio; emails with Ms. G. Glidewell of Proverian regarding updated 21st LE; review amended change of counsel form forwarded by McKinney

1.0

03/07/2013 Receive and review updated 21st LE for Weiss, emails with Mr. Largent regarding same; telephone conversation with ING regarding Weiss policies' status, prepare memo to file regarding same, request premium payments by wire; emails with Constable Meschino

0.7

03/08/2013 Emails with Mr. Nunes regarding default judgment process 0.1

03/11/2013 Email to Mr. Nunes and Ms. Murphy regarding portfolio update, recommendations regarding proceeding with notice under Lapsing Policy Protocol

0.2

03/12/2013 Email from Mrs. Stewart regarding costs/fees hearing and adjournment; emails with Mr. Nunes regarding OSC and Bahamian processes and revision to affidavit; emails with Mr. Largent regarding Weiss policies;

0.4

03/14/2013 Prepare draft website notice regarding Solomon policy lapse, circulate and request posting; emails with Ms. Henricksen regarding Barsa transfer status; telephone call with Mr. Largent regarding progress on offers for Weiss #223

0.4

03/15/2013 Emails with Mr. Mitchell and Ms. Henricksen regarding offer status on #223 0.2

03/18/2013 Emails and telephone call, with confidentiality agreement, with Mr. M. Onstad, broker for prospective purchasers; emails with Mr. Hebert, investor; emails with Ms. Henricksen

0.3

03/19/2013 Emails with Proverian regarding updated death registry search; telephone call with AXA regarding values on Shami policy and status of request to change owner; telephone call with PHL regarding values for Bell policy; emails with Mr. Liebowitz regarding premium requirements and ownership change; emails with Mr. Wallsten regarding offer on #223; email from Mrs. Stewart regarding affidavit

0.7

03/20/2013 Emails regarding dismissal of appeal by Mr. J. Pogachar and Ms. P. Lombardi against OSC ruling; receive notice from Anglo Management regarding policy offered under Lapsing Policy Protocol

0.2

03/21/2013 Emails with Mr. Onstad regarding access to data room, provide updated LEs and portfolio summary; emails with Ms. Henricksen regarding proceeding on Weiss #223 sale and status of change request regarding Barsa

0.3

03/22/2013 Telephone conversation with ING regarding status of Weiss #223, request verification of coverage; emails with Mr. Onstad

0.2

03/25/2013 Telephone conversation and email with Mr. Onstad regarding interest in certain policies; receive and pay utility invoice for condo; arrange payment on Alfieri policy

0.4

03/26/2013 Telephone call with Ms. J. Wolfe of AXA regarding application for ownership change regarding Shami; telephone call and emails with Mr. Liebowtiz regarding taking over Solomon policy, regular monthly payments on other policies

0.4

03/27/2013 Emails with Ms. Henricksen and internally regarding approval of GWG sale; emails from Mr. Liebowitz regarding wire transfers

0.3

03/28/2013 Follow up on closing of GWG sale, funds transfer; Anglo payments; review revised draft affidavit of Mr. Grout regarding status of OSC matter for use in Bahamian proceeding

0.6

8.7

Asya Rzhevsky

03/01/2013 Prepare deposit, banking at RBC 0.3

03/07/2013 Prepare 2 wires 0.4


03/25/2013 Prepare wires to Phoenix and Ocean Club 0.4

03/27/2013 Prepare wire to AGI re: Barsa premium 0.3

03/28/2013 Emails and telephone calls to RBC re: wire from Anglo Management, prepare three wires for insurance policies

0.9

Total 2.8


Summary of Receiver's Activities for the Month of April, 2013


04/08/2013 Call with Mrs. D. Stewart of McKinney Bancroft & Hughes (“McKinney”) 0.3

04/25/2013 Review of Mr. B. Butcher’s affidavit for Bahamian proceeding 0.3

Total 0.6

Brad Butcher

04/01/2013 Verify receipt of GWG funds; arrange payment of condo fees 0.2

04/02/2013 Update portfolio summary and provide to Mr. E. Largent of Opulen Capital (“Opulen”); telephone call with Mr. R. Ryan, accountant for investor; receive confirmation from AGI of Barsa transfer; receive letter from AXA regarding ownership change request, send to Mr. Liebowitz

0.4

04/03/2013 Telephone conversation with PHL regarding Solomon and Alfieri payments made, current values, request Alfieri illustration; telephone conversation with ING regarding values for two Weiss policies, status of VOC requested for #223, internal memo regarding same; receive VOC and forward to Ms. A. Henricksen of Opulen; forward draft sale agreement and escrow agreement to Mr. D. Nunes of Thornton Grout Finnigan

0.7

04/04/2013 Emails with Bingham McCutchen regarding closing of GWG sale; request payments to McKinney and Merrill; review draft sale agreement with Radiant regarding sale of ING policy #223, emails with Mr. Nunes and Ms. Henricksen regarding same; emails with Mr. Liebowitz regarding status, funding en route; prepare file memo regarding call with PHL regarding Solomon and Alfieri status; receive Alfieri illustration, provide to Mr. Onstad, prospective purchaser

1.6

04/05/2013 Emails with Ms. Henricksen regarding sale to Radiant; inquiry from Madison Capital requesting re-activation of data room access

0.3

04/08/2013 Telephone conversation, along with Ms. Murphy, with Mrs. Stewart regarding affidavits required and next steps in Bahamas, review related email to Mr. Nunes; emails with Ms. Henricksen regarding queries regarding sale to Radiant

0.4

04/09/2013 Revise and finalize affidavit regarding Bell ownership change, send to Mr. J. Ganer, external counsel for PHL; complete Receiver's Certificate regarding GWG sale, send to Opulen and Bank of Utah; telephone call with Conseco regarding status of Anderson policies, premiums due; arrange Weiss premium payments

1.2

04/10/2013 Complete beneficiary change request form for Solomon and submit; review updated Anglo accounting; email to Mr. Liebowitz with updated documents; emails

1.0

with Mr. Nunes and Ms. Henricksen regarding Weiss #223 sale; emails with Mr. Logsdon, prospect for portfolio

04/11/2013 Telephone conversation with AXA regarding Shami and McCann policy information; complete Bell trust certificate form provided by Phoenix; email to Mr. Ganer regarding Bell trust certificate; email with Mr. Liebowitz regarding premium payments; emails regarding sale of Weiss #223

1.0

04/19/2013 Arrange Anglo payments; call with ING regarding policy #223 status, request supplemental letter to VOC; review and circulate Proverian monthly death registry search; emails with Mr. Nunes

0.6

04/22/2013 Emails with Constable Meschino; follow-up with Mrs. J. Smith of McKinney on condo insurance, review invoice and related documents

0.2

04/23/2013 Review draft affidavit regarding Bahamas, emails with Mr. Nunes regarding same; assemble backup and amounts regarding carrying costs of condo for affidavit

0.7

04/24/2013 Emails regarding affidavit; emails with Mr. A. Miller regarding Advantage Program process

0.3

04/25/2013 Emails with Ms. Henricksen regarding status of Radiant transaction; review and revise affidavit per emails/markups from McKinney and input from Ms. Murphy and Mr. Nunes; meet with Mr. Nunes to swear affidavit; emails with Mr. Miller

1.2

Total 9.8 Asya Rzhevsky

04/01/2013 Prepare wire for HOA dues, email to RBC re: incoming wire 0.5

04/04/2013 Prepare wires to Bingham and Mckinney Bancroft, prepare, fax and pick up from RBC draft to Merrill Corp.

1.1

04/05/2013 Prepare wire to AXA Equitable 0.3

04/09/2013 Prepare wire between accounts, prepare wires for premiums on B. Weiss policies 0.9

04/12/2013 Revise schedule 0.2

04/17/2013 Emails and telephone RBC re: wire 0.2

04/18/2013 Prepare 4 wires 0.5


04/23/2013 Photocopying and summarizing invoices for condo cost 1.2

04/24/2013 Prepare wire to Security Life of Denver regarding premiums 0.3

Total 5.5


Summary of Receiver's Activities for the Period May 1 to June 30, 2013

Elizabeth Murphy

05/06/2013 Emails with Mr. B. Butcher 0.1

05/07/2013 Call with Mrs. D. Stewart of McKinney Bancroft & Hughes regarding taxation of legal bills in Bahamas

0.3

05/09/2013 Review of agreements for sale of ING policy #223 0.4

05/30/2013 Review of draft of the Receiver’s Eleventh Report to the Court (the “Eleventh Report”)

1.0

05/31/2013 Review of and finalizing the Eleventh Report 3.0

06/20/2013 Emails 0.1

Total 4.9

Brad Butcher

05/03/2013 Emails with Mr. L. Liebowitz; emails regarding condo insurance renewal; follow up on issues regarding sale of policy #223; telephone call with ING regarding sale of policy #223; emails with Ms. A. Henricksen of Opulen Capital

0.6

05/06/2013 Emails regarding condo insurance 0.2

05/07/2013 Emails and telephone conversation with Mr. J. Ganer, external counsel to PHL, regarding Bell trust form, send copies of all trust agreements; telephone call and email with Mr. D. Sedgwick of Tower Street Management regarding confidentiality agreement, access to data room; telephone call with PHL regarding policy status; emails with Mr. D. Kahan

0.6

05/08/2013 Email from ING regarding policy #223 policy, forward to Ms. Henricksen; emails with Mr. Liebowitz; telephone conversation with ING regarding status of McGee and #223 policies; internal memo regarding updated information obtained from PHL

0.8

05/09/2013 Update Summary of Key Data and post on data site; follow up on Radiant sale agreement with Ms. Murphy, send to Mr. R. Harris for review; telephone conversation with AXA regarding update on Anglo policies,

1.2

amounts due, status of change request; emails with Mr. Liebowitz regarding updated information

05/10/2013 Telephone call with Ms. Henricksen regarding status of Agreement of Purchase and Sale (“APS”) regarding policy #223, discussion with Mr. Harris regarding APS; email with Mr. D. Nunes of Thornton Grout regarding status of affidavits

0.3

05/13/2013

Emails with Ms. Murphy regarding APS; sign APS and escrow agreement and provide to Ms. Henricksen; emails with Ms. Henricksen; emails with Mr. Mantz, arrange access to data room; receive Shami policy change of address from AXA, send to Mr. Liebowitz; emails with Mr. Liebowitz regarding further confirmation documents received from AXA

1.2

05/14/2013 Receive signed agreements regarding #223 sale and circulate; various emails regarding court availability; data room access and follow up matters

0.8

05/15/2013 Emails with Mr. Nunes and Ms. Murphy regarding Court dates; emails with McKinney Bancroft regarding taxation certificate; planning regarding Eleventh Report

0.7

05/16/2013 Telephone call with ING regarding status of policies #231 and #223; prepare internal memo regarding same; arrange payment of grace amount for #231; email to Mrs. Stewart regarding update on Bahamas status; emails with Mr. Nunes; telephone conversation with investor; update control list of portfolio; outline of Eleventh Report

1.1

05/21/2013 Review monthly death search report and circulate; conference call with Mr. Nunes, Mrs. Stewart and Ms. Murphy regarding status of Bahamian proceedings, next steps; follow up with RBC on issue with Advantage deposit and payment to ING; email from Mr. Liebowitz

0.8

05/22/2013 Preparation of Eleventh Report, related file review; review draft Notice of Motion, emails with Mr. Nunes regarding same

1.8

05/23/2013 Preparation of Eleventh Report, related file review; review revised draft Notice of Motion and Order, numerous emails with Mr. Nunes regarding same

3.2

05/24/2013 Emails with Ms. Henricksen; file update 1.0

05/29/2013 Preparation of Eleventh Report, various emails with Mr. Nunes and Ms. Murphy regarding same; emails with Ms. Henricksen regarding escrow payment status; follow up on advances from Anglo, arrange payments on two policies; telephone conversation with AXA regarding status of McCann policy, emails with Mr. Liebowitz regarding same

3.0

05/31/2013 Review mark-up of draft Eleventh Report from Mr. Nunes and queries and comments from Ms. Murphy, provide responses to both by email; telephone conversation with Ms. Murphy

1.5

06/03/2013 Review emails regarding issuance of motion record; emails with Ms. Henricksen regarding escrow funding; email and telephone conversation with Constable N. Meschino of RCMP regarding status of investigation, email to Ms. Murphy and Mr. Nunes regarding same; arrange posting of Eleventh Report on Receiver’s website; emails regarding investor inquiry

0.9

06/04/2013 Emails with Ms. Henricksen regarding confirmation of escrow funds; preparation for Court hearing

0.3

06/05/2013 Attend Court regarding Receiver’s motion for approval of sale of ING policy #223 and other relief; arrange to post Order on Receiver’s website

0.8

06/07/2013 Telephone conversation with ING regarding values for #223 and #231, prepare internal memo regarding same; emails with Mr. A. Miller, representative of investor group for ING policy #230, regarding status; prepare ownership and beneficiary change forms regarding sale of #223, emails with Ms. Henricksen regarding same; emails with Mr. Nunes regarding change forms issues; arrange payments of condo utilities and ING #223

1.7

06/10/2013 Prepare change request forms for ING; review grace notice 1.0

06/11/2013 Prepare cover letter to purchaser of #223 with original change forms; emails with Ms. Henricksen regarding change forms; telephone conversation with Mr. Liebowitz regarding grace notices; telephone conversation with PHL regarding status of Solomon and Bell policies; telephone conversation with AXA regarding McCann policy

0.7

06/12/2013 Telephone conversation with Mr. J. Broten of ING regarding status of Weiss and McGee policies; prepare internal memo regarding call with PHL on June 11th; update Portfolio Summary; email to Mr. Liebowitz regarding status of policies

0.8

06/13/2013 Prepare internal memo regarding ING update; update portfolio summary and send with email on status to Mr. Nunes and Ms. Murphy; emails with Ms. Henricksen regarding tax forms

0.6

06/14/2013 Prepare website notice regarding pending lapse of Alfieri policy and submit for posting

0.2

06/18/2013 Telephone conversation with Mr. Liebowitz; email to Mr. Liebowitz with suggested premium amounts due, including regarding grace notices; emails with Constable Meschino regarding policy acquisition that was not concluded by New Life; prepare IRS tax form W8BEN regarding ING #223 sale and send to Ms. Henricksen; review monthly death registry report and forward to Ms. Murphy and Mr. Nunes

0.8

06/19/2013 Emails with Ms. Henricksen regarding June premium payment on ING #223; review files regarding RCMP request for follow-up on policy purchase that was not completed, email to Constable Meschino regarding same

0.9

06/20/2013 Review ING annual statements regarding three Weiss policies; email to Dr. West regarding premium funding advance required for ING policy #231

0.3

06/21/2013 Emails with Mr. J. McAuley and Constable Meschino regarding digital records provided to RCMP

0.2

06/25/2013 Emails with Ms. Henricksen regarding annual statement, proof of June premium payment, status of ING approval of transfer; receive cheques and note from Dr. West; telephone conversation with Conseco regarding termination of Anderson policies

0.4

Total 28.4

Asya Rzhevsky

05/06/2013 Prepare wire to J. S. Johnson & Co regarding condo insurance 0.3

05/07/2013 Prepare wire to Ocean Club Residences and Marina 0.3

05/08/2013 Prepare and pick up from RBC draft to Merrill Corporation regarding data site

0.5

05/09/2013 Prepare and pick up further draft to Merrill Corporation from RBC, prepare wire to ING re: Weiss policy

0.8

05/10/2013 Prepare bank reconciliation 0.3

05/15/2013 Prepare receipt voucher, deposit, banking at RBC 0.3

05/16/2013 Prepare wire between accounts and to ING, update schedule 1.0

05/27/2013 Prepare wire between accounts, emails, telephone discussions with RBC, emails to Ocean Club Residences and Marina

0.6

05/29/2013 Prepare 2 wires to PHL, telephone calls to RBC 0.6

06/07/2013 Prepare 2 wires to ING & Ocean Club 0.5

06/11/2013 Telephone messages 0.2

06/13/2013 Changes to schedules, update R&D 0.3


Total 6.1


Summary of Receiver's Activities for the Period July 1 to August 31, 2013

Brad Butcher

07/02/2013 Emails regarding Advantage matters; emails with Ms. A. Henricksen of Opulen Capital regarding ING approval of transfer of policy #223

0.2

07/03/2013 Various emails with Merrill and completion of form to arrange closure of data site; emails with Ms. Henricksen regarding transfer of funds by escrow agent; arrange payment of Bell premium with Anglo funds; telephone conversation with Mr. Liebowitz regarding lapse of Alfieri policy

0.8

07/04/2013 Confirm receipt of sale proceeds regarding #223 from escrow agent; Advantage emails

0.2

07/05/2013 Telephone conversation with AGI regarding status of Parsley policy 0.3

07/08/2013 Arrange for preparation of accounting for payments received from 752136 Alberta Ltd. regarding policy #1560231, review and revise draft schedule; update Key Data schedule for portfolio

0.2

07/09/2013 Edit and execute completion certificate for sale of policy #223; prepare schedule of proposed distribution of proceeds for policy #223

0.4

07/17/2013 Arrange to process payments for Angelo 0.3

08/13/2013 Emails with Mrs. D. Stewart of McKinney Bancroft and TGF regarding case management hearing; email to RCMP

0.3

08/14/2013 Telephone conversation with Phoenix regarding Bell status; emails with Mr. Liebowitz; arrange preparation of bank drafts payable to Advantage investors in ING policy #223; arrange payment of Q2 condo fees; update of accounting regarding investor contributions for #231

0.8

08/16/2013 Telephone conversation with ING regarding McGee policy values 0.5

08/19/2013 Emails with Proverian; emails with Mr. Liebowitz regarding Bell transfer form; emails with Mr. Mitchell and Mr. Wallsten; prepare and issue letters to Mr. Mitchell and Mr. Wallsten with distribution cheques

1.0

08/20/2013 Telephone conversation with Mr. R. Dahl, investor 0.2

08/21/2013 RCMP update email to team; arrange premium payments 0.4

Total

Robert Toscano (Forensic)

5.6

08/26/2013 Validating process of extraction of relevant data for RCMP copy 0.5

Total 0.5

Ahmed Shahbou (Forensic)

08/26/2013 Locating evidence folder; making forensic copy of specified data folder; making backup copy of specified folder; making file listing

2.5

08/27/2013 Backup creation of drive (NLC6) 1.5

Total 4.0

Asya Rzhevsky

07/03/2013 Telephone call and emails to Mr. P. Grech at RBC, prepare wire to PHL regarding Bell policy

0.5

07/05/2013 Request and pick up draft from RBC, prepare wire 0.8

07/08/2013 Update summary of Key Data schedule, prepare R&D of 752136 Alberta Ltd 0.5

07/09/2013 Request and pickup draft from RBC, sale of ING policy #223 schedule, changes to schedules

1.2


07/24/2013 Prepare wire 0.3

08/14/2013 Prepare 2 wires and request 3 drafts from RBC 1.0

Total 4.6


Summary of Receiver's Activities for the Period September 1 to October 31, 2013

Elizabeth Murphy

09/12/2013 Cheque 0.1

09/17/2013 Initial review of change of attorney in Bahamas proceeding, discussion with Mr. B. Butcher

0.4

09/19/2013 Emails with counsel and Mr. Butcher regarding Bahamian proceedings; telephone conversations with Mr. Butcher

0.3

09/20/2013 Emails with Mr. Butcher and Mr. D. Nunes of Thornton Grout 0.3

09/26/2013 Emails 0.2

09/27/2013 Emails and telephone calls with Mr. Butcher and Mr. Nunes regarding Bahamian proceedings

0.4

10/03/2013 Emails regarding Bahamian litigation 0.4

10/16/2013 Internal emails regarding lapsing policies 0.2

10/28/2013 Emails to Mr. Nunes; emails with Mr. Butcher on lapsing policies 0.3

10/31/2013 Call with Mr. A. Kauffman of Fasken Martineau regarding independent opinion mandate, and preparation for call

0.4

Total 3.0

Brad Butcher

09/03/2013 Telephone conversations with AXA, PHL, ING and AGI regarding policy values/status updates, prepare file memoranda regarding same; prepare and issue cover letter to Mr. M. Bachert with distribution funds regarding sale of ING policy #223

1.2

09/16/2013 Review affidavit filed by Ms. P. Lombardi; emails with Mrs. D. Stewart of McKinney Bancroft regarding same

0.5

09/17/2013 Review Ms. Lombardi's draft Statement of Defence and Counterclaim, email to Mr. Nunes with comments; various emails

1.5

09/19/2013 Emails with Ms. Murphy and Mr. Nunes regarding Bahamas litigation, file review; conference call with Mrs. Stewart, Mrs. J. Smith, Mr. Nunes regarding independent affidavit; emails and telephone conversations with Ms. Murphy, Mr. Nunes, Mrs. Stewart

0.9

09/23/2013 Conference call with Ms. Murphy and Mr. Nunes regarding Bahamas; various emails

0.8

09/30/2013 Receive cheques from Dr. West regarding premium reimbursement for Advantage policy #231; emails with Mr. L. Liebowitz

0.3

10/01/2013 Emails with Mrs. Stewart regarding case management session, revision needed to Mr. Kauffman's affidavit; emails with Mr. Nunes regarding same; telephone call with Corporal Meschino of RCMP regarding developments, internal emails and discussions regarding same

0.5

10/02/2013 Receive Ms. Lombardi’s Defense and Counterclaim, emails with Ms. Murphy regarding same

0.3

10/03/2013 Emails with Mrs. Stewart regarding revised hearing date and revised draft Defence and Counterclaim; prepare draft Occurrence Report regarding KPMG internal notification to General Counsel

1.5

10/16/2013 Emails with Ms. Murphy regarding remaining policies and offering to investors under lapsing policy protocol

0.3

10/17/2013 Prepare protocol notice regarding Parsley and McGee policies, arranging posting on website

0.7

Total 8.5

Danny Garwood (Forensic)

09/06/2013 Communications with RCMP; RCMP pickup; documentation of data handed over to RCMP

0.5

Total 0.5

Asya Rzhevsky

09/09/2013 Wire to Ocean Club Residences and Marina 0.3

09/13/2013 Prepare wire to Ocean Club - HOA Q3 0.3

10/01/2013 Prepare deposit, wire, update R&D, telephone bank 0.7

10/02/2013 Update Anglo Management and Weiss policy schedules 0.3



10/15/2013 Prepare deposit 0.2

10/28/2013 Prepare wire to Phoenix Life 0.3

Total 3.0


Summary of Receiver's Activities for the Period November 1 to December 31, 2013

Elizabeth Murphy

11/01/2013 Conference call with Bahamian and Canadian counsel regarding revised affidavit requirements; file update

1.3

11/04/2013 File oversight, review of emails, call with Faskens and TGF 1.2

11/05/2013 Discussions with Mr. B. Butcher regarding notice from ING regarding death of insured, process and considerations for submission of death claims

0.5

11/06/2013 Calls with Faskens, TGF and McKinney Bancroft 0.6

Total 3.6

Brad Butcher

11/01/2013 Conference call with Mrs. D. Stewart of McKinney Bancroft, Ms. Murphy and Mr. D. Nunes of TGF regarding revised affidavit requirements

0.5

11/04/2013 Emails with Mr. Nunes and Mr. A. Kauffman of Faskens; conference call with Ms. Murphy, Mr. Nunes, Mr. Kauffman, Mr. Braithwaite of Faskens regarding supplemental affidavit

1.0

11/05/2013 Review correspondence from ING regarding death of insured; telephone conversation with ING to confirm status of policies; discussion with Ms. Murphy; emails with Mr. Nunes regarding death claims and distribution process for policies #231 and #230; emails with Dr. West and Mr. A. Miller to advise of death of the insured

1.5

11/07/2013 Review death claim forms for policy #231; message to ING regarding Tax ID numbers, whereabouts of forms for #230

0.3

11/08/2013 Review draft revised affidavit from Mr. Kauffman, prepare mark-up and send to Mr. Kauffman; emails regarding execution of affidavit; telephone conversation with Ms. M. Brackett of ING regarding death claim forms requirements, mailing address change regarding #230; email from Ms. Brackett with form

0.5

11/11/2013 Review W8-BEN form instructions, email to Mr. B. Goddard at Bingham regarding assistance required with same; email to Proverian Capital regarding assistance no longer required

0.5

11/12/2013 Emails with Mr. Miller; file update 0.5

11/14/2013 Emails with Mr. Goddard regarding tax issues, Tax ID numbers, cost base and gains

0.3

11/18/2013 Emails with Mr. Goddard regarding Tax ID numbers, process required; related file review

0.3

11/20/2013 Emails with Bingham regarding Tax ID request forms; review draft forms regarding incorporation dates

0.2

11/22/2013 Emails with Ms. Miller regarding Tax ID numbers received to date, process for remainder

0.2

11/25/2013 Telephone conversation and emails with Constable. S. Han of RCMP regarding photos of watches and exotic autos

0.4

11/29/2013 Email to Mr. M. Bachert with death claim form 0.2

12/02/2013 Completion of ING death claim forms for each beneficiary 0.3

12/03/2013 Emails with Mr. Bachert regarding completion of death claim form 0.2

12/04/2013 Review W8-BEN forms regarding ING death claims; emails with Mr. Goddard regarding advice on completion of forms

0.4

12/06/2013 Conference call with Mr. Goddard and Mr. D. Abrams regarding tax issues with Weiss death claims, completion of W8-BEN; prepare estimate cost base schedule for both policies and send to Bingham

0.8

12/17/2013 Emails with Mr. Abrahms regarding tax issues on ING policies; revise schedule of estimated tax and withholding on death benefits

0.5

12/19/2013 Email to Ms. Murphy regarding tax issues regarding ING death claims, related file review

0.3

12/23/2013 Emails with Mr. Abrahms regarding tax issues; complete W8-BEN forms for beneficiary entities

0.8

Total 9.7

Asya Rzhevsky


11/14/2013 Prepare summary of B. Weiss policy payments 0.6

11/28/2013 Prepare wire to PHL re: B. Solomon 0.3

11/29/2013 Prepare wires to PHL and Proverian 0.6


12/06/2013 Prepare summary of ING policies summary schedule 0.4


12/19/2013 Prepare wires to AXA and PHL 0.5

Total 3.3



August 15, 2019






$ 107,628.00 CAD 2,756.00

$ 110,384.00 CAD

HST 14,349.92







Page 1 of 1





Name Position Rate Hours Total Fees R. Harris Partner $ 640.00 2.50 $ 1,600.00 N. Brearton Partner $ 640.00 3.50 $ 2,240.00 E. Murphy Associate Partner $ 600.00 47.90 $ 28,740.00 J. Bradley Butcher Senior Manager $ 550.00 103.20 $ 56,760.00 Heather O'Hagan Tax Partner $ 640.00 1.00 $ 640.00 Chris Sheridan Specialist $ 230.00 3.20 $ 736.00 Janine Bradley Senior Manager $ 550.00 0.50 $ 275.00 Jane Briant Senior Manager - Tax $ 550.00 12.60 $ 6,930.00 Jessica Papania Specialist - Tax $ 320.00 1.80 $ 576.00 A. Rzhevsky Technician $ 230.00 39.70 $ 9,131.00 Total Fees Incurred Expenses

215.90 $ 107,628.00

Type Amount Consulting $ 2,756.00 Total Expenses Incurred $ 2,756.00


$ 110,384.00 $ 14,349.92

Total $ 124,733.92


Summary of Receiver's Activities for the Period January 1 to February 28, 2014

Richard Harris

01/23/2014 Review and execute claims forms and US W8-BEN tax certificates related to Advantage death claims

0.5

02/04/2014 Discuss officer’s certificate required by ING with Mr. B. Butcher 0.5

Total 1.0

Heather O’Hagan (Tax)

01/28/2014 Discussion with Mr. Butcher and Ms. E. Murphy regarding U.S. tax issues and follow up with Mr. C. Sheridan

1.0

Total 1.0

Elizabeth Murphy

01/10/2014 Update with Mr. Butcher and Mr. D. Schlesinger of KPMG Tax 0.5

01/13/2014 Email to Ms. H. O'Hagan 0.1

01/14/2014 Meeting, along with Mr. Butcher, with Ms. O’Hagan 0.5

01/20/2014 Review of emails from KPMG Tax regarding withholding, emails/discussion with Mr. Butcher regarding same

0.3

01/31/2014 Respond to Mr. Butcher’s email regarding ING policies 0.3

02/03/2014 Discussions with Mr. Butcher regarding tax issues associated with payment on death benefit

0.4

02/05/2014 Consideration of implications associated receipt of proceeds from ING policies

0.5

Total 2.6

Chris Sheridan (Tax)

01/14/2014 Meeting with Ms. O'Hagan 0.3

01/15/2014 Researched application of treaty and taxability of life insurance in a particular scenario

2.5

01/16/2014 Drafted email outlining conclusions re: taxability of life insurance 0.4

Total 3.2

Brad Butcher

01/07/2014 Telephone conversation with Ms. M. Brackett of ING re-claims process; research regarding taxation of gains on collection under life insurance

1.0

01/08/2014 Review death claim matters; email from Mr. A. Miller, recalculate percentage allocations of beneficial interests to redistribute forfeited share and send schedule to Mr. Miller; email to Ms. Murphy outlining various tax issues regarding ING death claims

1.2

01/09/2014 Emails with Dr. B. West regarding status of death claim; emails with Ms. Murphy

0.2

01/10/2014 Discussions with Ms. Murphy regarding death claims and related tax issues, need for Canadian tax input; emails with Mr. Miller regarding death claim status; meeting with Mr. Schlesinger, referral to Ms. O'Hagan

0.8

01/14/2014 Meeting, along with Ms. Murphy, with Ms. O'Hagan regarding tax issues associated with pending death benefit payments from ING

0.8

01/16/2014 Review update memo on withholding tax and other tax matters from KPMG Tax

0.4

01/20/2014 Follow-up with Ms. Murphy on tax advice memo and plan to file death claims

0.2

01/21/2014 Email from Ms. H. Meredith, Rep Counsel; email to Mr. D. Nunes and Ms. Murphy regarding Rep Counsel's inquiry, proposed update for website; revise death claim forms and W8-BEN forms

0.4

01/22/2014 Meeting with Mr. R. Harris to update on death claims process and obtain his signature on forms

0.2

01/23/2014 Prepare spreadsheet on portfolio disposition; emails with Ms. Meredith and Mr. Nunes regarding status; finalize ING death claims submissions, send electronic copies by email to Ms. Brackett at ING, originals by courier

1.3

01/27/2014 Telephone conversation with Mr. D. Butters, investor, related internal emails regarding same

0.3

01/28/2014 Telephone conversations with Ms. Brackett regarding queries on death claim forms, related file review

0.4

01/29/2014 Review Bell ownership change notice; review and revise R&D; review Advantage R&D

1.5

01/30/2014 Various matters regarding tax issues associated with ING policies; various emails regarding same; telephone conversation with Ms. Brackett; revise cost base calculations

1.0

01/31/2014 Emails with Mr. Miller and ING; file update and review 0.7

02/03/2014 Telephone call and emails with Ms. Brackett regarding death claim documents, issues with authority for Receiver's signatures; emails with Mr. M. Bachert regarding U.S. and Canadian tax; review Aird & Berlis tax opinion from 2007

1.0

02/04/2014 Emails with Ms. Brackett regarding queries and status of tax review; email to Ms. Murphy regarding tax issues and subsequent discussion; emails with Ms. Meredith; commence preparation of draft reporting letter to Stakeholders

1.8

02/05/2014 Emails with Ms. Meredith and Ms. Brackett 0.5

02/10/2014 Preparation of Advantage analysis 0.6

02/11/2014 Advantage allocation analysis of recovering and costs; update billing summaries regarding outstanding professional fees

1.5

02/19/2014 Emails with RCMP 0.2

02/25/2014 Telephone call with Tammy at ING regarding status of death claims, lack of response by Ms. Brackett to Receiver's inquiries; file review

0.4

02/27/2014 Emails with Ms. Brackett regarding status of information requests related to processing of death claims; emails with McKinney regarding status of March 4th hearing

0.3

Total 16.7

Asya Rzhevsky

01/15/2014 Prepare deposit, banking, prepare wire 0.6

01/20/2014 Prepare bank reconciliations from Oct to Dec 2013 0.8

01/21/2014 Telephone RBC regarding wire, prepare wire to Phoenix Life and AXA Equitable

0.5

01/23/2014 Prepare policy portfolio final summary schedule 0.3

01/29/2014 Prepare combined summary for US and Advantage R&D 0.8

02/05/2014 Prepare wire to Bingham, McCutchen LLP 0.5

02/10/2014 Prepare Canadian and US funds schedules regarding ING policies 1.1

02/11/2014 Prepare, fax and pick up draft from RBC regarding payment to Fasken Martineau

0.5

02/12/2014 Prepare summary of professional fees schedules from July 11 to Dec 13 0.8

02/13/2014 Prepare wire to Ocean Club, changes to professional fees schedules 0.6

02/26/2014 Prepare wire to Phoenix Life, changes to comparison of actual fees schedule 0.8

Total 7.3


Summary of Receiver's Activities for the Period March 1 to April 30, 2014

Richard Harris

04/04/14 Review draft correspondence/schedules, meeting with Ms. E. Murphy and Mr. B. Butcher to discuss process around ING/Advantage death claims/proceeds, quantification, distribution and related recovery/investor issues, including US tax matters

1.0

04/09/14 Review and sign certificate regarding Cost bases related to ING policies 0.5

Total 1.5

Elizabeth Murphy

03/04/14 Call with Mrs. D. Stewart of McKinney, Bancroft & Hughes (“McKinney”) 0.3

03/05/14 Call with Mr. Butcher, Mr. Grout of TGF and Mr. Nunes regarding Bahamian hearing and requests for two additional affidavits, further call regarding same regarding Mr. Kauffman; call with Mrs. Stewart and Mr. Butcher, Mr. Nunes and Mr. Kauffman

1.0

03/06/14 Various emails/discussions with Mr. Nunes and Mr. Butcher regarding affidavit for Bahamas regarding fees; review draft affidavit of Mr. Kauffman and comment thereon; various emails on related matters

0.4

03/13/14 Emails regarding RCMP status 0.3

03/19/14 Discussions with Mr. Butcher regarding requesting information from RCMP. Approval of Mr. Butcher’s proposed course of action regarding policy proceeds

0.4

03/20/14 Review emails 0.1

04/04/14 Meeting with Mr. Harris and Mr. Butcher regarding Advantage death claims issues

0.4

04/30/14 Call with Mr. Butcher regarding Advantage issues followed by conference call with Ms. Murphy and Mr. Nunes regarding Advantage matters, options, go forward plan

1.0

Total 3.9

Brad Butcher 03/03/14 Emails with Mrs. Stewart and Mr. Nunes regarding revised Skeleton filed by

Pogachar and Lombardi; update emails with Dr. B.West and Mr. A. Miller regarding status of death claims processing

1.5

03/04/14 Telephone conversation with Mrs. Stewart regarding preliminary report on ongoing hearing, additional affidavit needed by Bahamian judge regarding fees; review statement of claim and fee approval file, preliminary reconciliation of fees; email from Mrs. Stewart regarding outcome of hearing, further materials to be filed; various emails with Mr. A. Kauffman of Faskens, Mr. D. Nunes of TGF and Ms. Murphy regarding follow-up required, calls to be scheduled

1.2

03/05/14 Call with Ms. Murphy, Mr. J. Grout of TGF and Mr. Nunes regarding Bahamian hearing and requests for two additional affidavits, further call regarding same regarding Mr. Kauffman; call with Mrs. Stewart and Ms. Murphy, Mr. Nunes and Mr. Kauffman; preparation of fee affidavit, related review of Statement of Claim and files; prepare schedules of unapproved fees for TGF, McKinney and KPMG

2.8

03/06/14 Preparation of affidavit for Bahamas regarding fees, revise exhibits regarding unapproved fees, various emails with Mr. Nunes and Ms. Murphy; discussion with Ms. Murphy; review draft affidavit of Mr. Kauffman and comment thereon; review Mr. Nunes's mark-up of fee affidavit; various emails with McKinney; assemble appendices

3.8

03/07/14 Review McKinney emails regarding comments on affidavits; revise fee affidavit, provide comments to Mr. Nunes; meet with Mr. Nunes to swear affidavit

1.5

03/10/14 Emails with Ms. M. Brackett of ING regarding confirmation of ING’s approval of death claim documents, status of request for premium summary; review post hearing submission from Pogachar and Lombardi

0.4

03/11/14 Letter to Anglo Management with original Bell policy; complete Solomon ownership change request form, emails with Mr. Laurence regarding same

0.5

03/12/14 Emails with Ms. Brackett regarding status, provision of ING "cost basis" calculations, requirement of ING for an indemnity from the Receiver

0.4

03/13/14 Various emails with TGF and discussions with Ms. Murphy regarding RCMP developments, need for updates with McKinney and McCarthys; update email to McCarthys; emails with Ms. Brackett regarding confirmation of death claim amounts, status of premium lists

0.8

03/14/14 Emails to Ms. Murphy regarding status of Advantage death claims; emails regarding RCMP update and arranging Bahamas conference call

0.5

03/17/14 Conference call with Mrs. Stewart and Mr. Nunes regarding status of Bahamian proceeding, developments regarding criminal charges; update Receiver's website to take down outdated notices

0.8

03/19/14 Emails with Corporal Han of RCMP and Mr. Nunes regarding verification of criminal charges; emails with Mrs. Stewart regarding criminal charges; telephone call with Mr. P. McIsaac, investor; emails with Mr. Miller regarding status of death claim processing

0.7

03/20/14 Various emails with RCMP contacts 0.4

03/25/14 Preparation of internal notes regarding status of Advantage death claims 0.3

03/27/14 Various emails with Ms. Brackett regarding request for details on premium payments

0.3

03/28/14 Emails with Advantage investor regarding status of death claims 0.2

04/01/14 Review premium listings received from ING, arrange preparation of schedules on payments made after change of ownership

0.6

04/03/14 Prepare revised Cost Base calculations based on premium listings received from ING; prepare detailed email to Mr. Harris and Ms. Murphy with draft calculations and commentary on tax issues to be considered; subsequent follow up emails

1.2

04/04/14 Meeting with Mr. Harris and Ms. Murphy regarding tax issues associated with submission of ING death claims; revise Cost Base calculation form, supporting schedules and Receiver’s Confirmation and prepare cover letter to ING

1.5

04/09/14 Finalize letter and attachments to ING regarding calculation of cost bases 0.4

04/16/14 Emails with Ms. Brackett and internally regarding ING's acceptance of claims and Receiver's calculations of cost base and revised quantum of withholding tax

0.4

04/21/14 Commence preparation of schedule regarding calculation of Advantage gains; prepare list of steps for completion of Advantage realization and distribution; emails to Mr. Miller and Dr. West regarding ING approval of tax withholding calculation

0.5

04/22/14 Update emails with RCMP and internally; complete calculation of estimated gain/loss for Advantage investors, email to Ms. Murphy attaching same and summarizing issues

0.8

04/24/14 Emails with Mrs. J. Smith of McKinney regarding condo insurance renewal; emails with Ms. Brackett regarding status of death claims processing

0.3

04/30/14 Emails with Ms. Brackett regarding death claims processing; various emails and file review regarding Advantage distribution and tax issues; call with Ms. Murphy regarding Advantage issues followed by conference call with Ms. Murphy and Mr. Nunes regarding Advantage matters, options, go forward plan

2.5

Total 24.3

Asya Rzhevsky

03/04/14 Prepare wire to Anglo Management 0.3

03/05/14 Prepare summary of KPMG and TGF fees from Oct 2011 to Sep 2012 0.8

03/06/14 Update and changes to professional fees schedules 0.6


03/25/14 Prepare wire to PHL regarding Solomon 0.3

04/01/14 Prepare analysis of ING policies 156230 and 156231 0.5

04/02/14 Prepare changes to various schedules for B. Weiss policies 0.4

04/04/14 Prepare calculation of costs bases for ING policies schedules, prepare Jan to Mar 2014 bank reconciliations

1.3

04/09/14 Prepare wire to Ocean Club Residences 0.3

04/22/14 Prepare summary of net recoveries for ING policies 0.6

Total 5.4


Summary of Receiver's Activities for the Period May 1 to June 30, 2014

Elizabeth Murphy

05/07/14 Meeting with Mr. L. Murray of KPMG Tax and Mr. B. Butcher regarding tax matters related to Advantage death benefits, including clearance certificate process

0.3

05/14/14 Email to Mr. Murray 0.2

05/30/14 Telephone conversation with Mr. Butcher and Mr. Murray regarding Advantage tax issues

0.5

Total 1.0

Brad Butcher

05/05/14 Review death benefit cheques received from ING, attempt to reconcile tax deduction, email to Ms. M. Brackett of ING regarding same, emails with Ms. Murphy regarding same; preparation of background memo on Advantage program and tax and distribution issues

1.5

05/06/14 Preparation of Advantage tax/distribution memo; arrange payment of Q4 condo fees, annual condo insurance, Fasken fees regarding affidavit required for Bahamian proceeding

1.4

05/07/14 Revise and finalize draft of memo regarding Advantage tax and distribution issues; meet with Mr. Murray and Ms. Murphy regarding Advantage issues; emails with Mr. Murray

2.5

05/08/14 Various emails with Mr. D. Nunes of TGF regarding Rep Counsel status, Advantage status

1.0

05/09/14 Email to Dr. B. West, Advantage investor; file review 0.2

05/12/14 Emails with Ms. Brackett regarding status of #230 death benefit, accounting for withholding tax deducted; internal email regarding update from ING; reconciliation of withholding tax on interest and death benefit payments

0.6

05/13/14 Receive ING payment for 2100228 Ontario’s Inc.’s share of death benefit on policy #230, verify calculation of deductions, internal emails regarding same

0.5

05/14/14 Further analysis of ING payments and allocations; internal emails regarding Advantage tax issues and related follow-up

0.4

05/15/14 Review second death benefit cheque for policy #230, emails to Ms. Murphy regarding same; prepare summary schedules of net payments received from ING for Advantage policies; telephone call with agent for investor

1.5

05/16/14 Arrange for transfer of policy #231 funds to term deposit 0.2

05/20/14 Emails with Mr. A. Miller, Advantage investor, regarding receipt of funds 0.1

05/23/14 Emails with Mr. Miller regarding currency for distribution to investors 0.1

05/30/14 Telephone conversation with Ms. Murphy and Mr. Murray regarding Advantage tax issues

0.5

06/02/14 Review internal Tax discussion paper on life settlements and tax treatment under Canadian law; email to Mr. Nunes regarding preliminary options for distribution of death benefits

1.0

06/03/14 Emails with Mr. Murray regarding background on US withholding tax; emails with Mr. Nunes regarding Advantage

1.0

06/04/14 Telephone call with Mr. Murray 0.1

06/17/14 Emails with two investors in response to queries about status of receivership 0.4

06/20/14 Emails with Ms. Murphy regarding Advantage issues 0.2

06/23/14 Emails with Mr. Miller regarding status of Advantage payout; file update 0.5

06/27/14 Emails with Dr. West regarding status of Advantage dividend; planning regarding update to investors; telephone call with Mr. R. Goldblatt regarding availability of policies for purchase

0.4

Total 14.1

Asya Rzhevsky

05/05/14 Prepare deposits, post to R&D 0.5

05/06/14 Prepare wires to J. S. Johnson and Co. regarding condo insurance, Ocean Club regarding condo hydro bill and cheque to Fasken Martineau

0.7

05/08/14 Update professional fees schedules 0.2

05/13/14 Prepare deposit from ING 0.3


05/15/14 Prepare deposit from ING 0.3

05/16/14 Prepare summary of death benefits schedules, buy new term deposit regarding death benefit funds

1.1

05/20/14 Buy new term deposit regarding death benefit funds 0.3



Total 4.3


Summary of Receiver's Activities for the Period July 1 to August 31, 2014

Nick Brearton

08/13/14 Meeting with Mr. B. Butcher and Ms. E. Murphy regarding Advantage death benefits and proposed Court relief

0.7

08/15/14 Review of various background documents related to death benefit payout and related issues and considerations, including draft tax memo, previous Court Order, emails and draft payout calculations

0.8

Total 1.5

Elizabeth Murphy

07/09/14 Review of update to stakeholders for posting on website (the “Receiver's Update”)

0.3

07/10/14 Emails regarding KPMG tax memo 0.1

07/24/14 Call with KPMG Tax regarding Advantage matters 0.5

08/13/14 Meeting with Mr. Butcher and Mr. N. Brearton regarding Advantage matters 0.5

08/26/14 Status meeting with Mr. Butcher on various matters 0.5

Total 3.9

Brad Butcher

07/03/14 Emails with Ms. Murphy regarding status of Advantage tax review; preparation of affidavit for PHL in support of request for ownership change to Anglo Management regarding Solomon policy

0.8

07/04/14 Review of condo fee invoice and Receiver’s cash position, email to Ms. Murphy regarding same

0.5

07/07/14 Revise draft of the Receiver’s Update and send to Ms. Murphy for review; swear affidavit regarding Solomon ownership transfer and provide to counsel from PHL and to Mr. L. Liebowitz

1.0

07/09/14 Emails with Mr. A. Miller regarding status of Advantage tax issues review; emails with Ms. Murphy regarding the Receiver’s Update and tax matters

0.3

07/10/14 Revise draft of the Receiver’s Update per Ms. Murphy's comments and send to Ms. Murphy for further review

0.4

07/11/14 Email with Mr. Nunes regarding review of draft of the Receiver’s Update; revise and finalize Receiver's Update; prepare introduction summary for posting on website; arrange posting of Receiver's Update and introduction summary; various follow up on status of tax memo regarding Advantage

1.2

07/14/14 Various emails and file review 1.2

07/15/14 Telephone conversation with Constable Meschino of the RCMP regarding evidence query, status of extradition, Interpol posting; review Interpol internet site, download wanted posters of Pogachar and Lombardi; internal email to advise of same

0.8

07/18/14 Follow up emails on Advantage tax memo 0.1

07/25/14 Review KPMG Tax memo regarding Advantage issues; review Aird & Berlis (“A&B”) tax memo obtained in 2007 by New Life

0.5

07/24/14 Conference call with Ms. Murphy and Ms. J. Briant regarding status of KPMG tax memo

0.3

07/21/14 Emails with Mr. Nunes regarding details on TGF’s outstanding fees; emails with Mrs. D. Stewart of McKinney Bancroft regarding RCMP/Interpol update

0.3

07/30/14 Prepare initial changes to tax memo; prepare queries regarding A&B tax memo; emails regarding KPMG Tax memo revisions

1.6

07/31/14 Revisions to Advantage background memo to be included in tax memo 0.7

07/29/14 Tax memo queries 0.5

08/05/14 Revisions to draft tax memorandum; emails with Mr. Miller; file review 2.8

08/06/14 Further mark-up of Tax memo regarding Advantage; emails with Mr. Miller, review New Life Advantage program outline used for promotion of investment; email to Mr. L. Murray regarding markup and other tax issues for consideration

1.5

08/07/14 Emails regarding tax matters, related file review 0.5

08/12/14 Emails with Mr. Murray regarding Advantage tax matters; call with Mr. Murray and Ms. Briant regarding tax issues, fee estimate for returns; emails with Ms. Murphy; receive message from Constable Meschino regarding RCMP press release, locate release on line and review

0.4

08/13/14 Advantage - background briefing materials for Mr. Brearton; meeting with Mr. Brearton and Ms. Murphy regarding tax issues and proposed Court relief

1.5

08/14/14 Advantage - calculation of potential tax and holdback 0.8

08/21/14 Various emails with Ms. Murphy, Mr. Nunes, Mrs. Stewart, Mr. E. Fields (property manager) and his counsel regarding Lombardi's attempt to lease out the condo with six month rental deposit; consideration of avenues to thwart Lombardi's future efforts

1.2

08/26/14 Revise draft tax memo and send to Ms. Murphy; meet with Ms. Murphy regarding tax memo and issues regarding distribution of death benefit proceeds; email to Ms. Briant and Mr. Murray regarding status update and request for review of tax memo changes and queries; email to Mr. Nunes regarding proposed interim distribution; file review regarding effective dates related to cost base calculation

1.2

08/25/14 Emails with Ms. Murphy; preliminary revisions to latest version of tax memo; email with Mr. Miller

0.3

08/27/14 File review regarding Advantage tax matters 0.5

08/28/14 Prepare summary of key information regarding tax issues regarding Beneficiary Entities and policies; consider issues for financial statement preparation to support tax returns

1.4

08/29/14 Preparation of Advantage analysis by Beneficiary Entity 0.6

Total 22.9

Jane Briant

07/21/14 Tax treatment of insurance policy proceeds 2.0

07/23/14 Call with Ms. Murphy and Mr. Butcher regarding memo, update memo and send

1.0

08/12/14 Discussions with Mr. Murray regarding active business, CDA & Part IV tax considerations

1.0

08/13/14 Update memo, send e-mail to Mr. Butcher 2.0

Total 6.0

Asya Rzhevsky

07/15/14 Renew investment 0.3


08/06/14 Prepare bank reconciliations for the period April to July 2014 0.5

08/14/14

Renew investment, changes to summary of net recoveries on ING policies schedule

0.7

08/21/14 Renew investment 0.2

Total 2.0


Summary of Receiver's Activities for the Period September 1 to December 31, 2014

Nick Brearton

11/25/14 Review of Summary Judgement court decision 1.1

11/26/14 Discussion with Elizabeth Murphy re file status; review letter re sale of the Bahamian Condo and subsequent discussion with Elizabeth Murphy

0.9

Total 2.0

Elizabeth Murphy

09/17/14 Call with Diane Stewart regarding court decision 0.3

09/18/14 Update with Bradley and Butcher. Call with Diane Stewart 1.0

10/20/14 Review of Twelfth Court Report; discussion with B Butcher. Emails to TFG regarding ongoing role of Rep Counsel. Call with Bermudian counsel and TGF regarding Oct 21 extension of the stay, and follow up emails and internal discussions regarding style of cause.

1.6

10/22/14 Emails 0.2

10/24/14 Discussions with Butcher on preparation of tax returns 0.5

10/27/14 Advantage: preparation of income statement and tax returns 3.0

10/30/14 Emails with Larry Murray 0.2

11/05/14 Advantage - updating financial statements for tax returns. 5 emails with Laurence regarding McCann; Preparing financial statements for tax returns

1.0

11/09/14 Signing McCann policy transfer form, answering emails; updating to do list;

Emails to Ocean Estate regarding empty condo, responding emails to Neil Mechino regarding Lombardi, emails to Diane Stewart regarding Nov 12 court date. Brearton update

2.4

11/10/14 McCann policy - correspondence with Laurence; call to Axa regarding status; Butcher transition regarding files

1.0

11/11/14 McCann policy- calls with Axa and emails with Erik Laurence. Preparation of financial statements for tax returns

2.8

11/12/14 Extensive time preparing balance sheets and income statements 3.7

11/13/14 Various emails with Erik Laurence & Finalizing financial statements 2.3

11/14/14 Discussions with Danny Nunes regarding next steps on file. Emails with Diane Stewart regarding selling the condo

Emails to Jane Bryant regarding taxes. Search for incorporation certificates. Discussions with Asya regarding CRA forms. Signing CRA forms for tax numbers and providing appointment order

0.5

1.1

11/16/14

Reviewing, culling and sending Butcher boxes to storage

Emails to Danny Nunes whether court approval required for repayment of premiums paid by investors

1.1

0.2

11/19/14 Emails 0.3

11/23/14 Boxing up old files. Update with Nick Brearton 1.0

11/25/14 Emails with Diane Stewart and D Nunes regarding listing condo. Update Brearton. Emails with Jane Briant and investors regarding information requests. Emails with investors.

0.7

11/26/14 Preparing for a taxation; planning with Nick Brearton; reviewing emails with Nunes and Stewart; reviewing/providing comments draft letter for Glinton. Further discussions with Brearton on file matters, and internal follow up emails

1.6

Emails from Advantage investors with their SIN numbers. Updating/planning with Nick Brearton

0.4

11/27/14 Review of files for prior condo sales process; email to Larry Roberts as to willing to list condo; email to Nunes and Steward with comments on draft letter to Glinton, and receipt of further comments from Nunes.

2.0

11/28/14 Emailed response to Nunes regarding discussion regarding draft letter to Glinton; emails with Diane Stewart regarding call regarding accounts

0.4

Review of outstanding matters relating to tax preparation 0.3

11/30/14 Updating website & Receipt of SIN from investors 1.2

12/01/14 Emails with Ms. Weibe regarding timing of distribution 0.5

12/10/14 Arranging return of returned premiums to Allan Miller 0.5

12/15/14 Call/emails follow McKinney Bancroft regarding draft letter regarding sale of condo. VM from/calls to Axa regarding transfer of McCann policy

0.3

12/18/14 Call with Diane Stewart and Danny Nunes regarding sale of condo 0.6

12/23/14 Emailing Solomon termination notice to Erik Laurence. Updating external website

0.7

12/30/14 Calls from CRA regarding business numbers for Advantage companies and KPMG contact numbers. Emails with Danny Nunes regarding reinstating 228 co.

0.7

12/31/14 Preparing for a taxation. File administration. Looking for documents of Erik Laurence. Email to RCMP at request of Eric Laurence. Filing regarding transferred policies & Emails to Jane Briant

2.4

Total 36.5

Brad Butcher

09/02/14 Preparation of various schedules regarding proposed interim distribution of death benefits

2.3

09/03/14 Advantage - Preparation of schedules regarding calculation of Canadian taxes and proposed interim distribution; receive revised tax memo from Ms. Briant, respond to queries raised in Ms. Briant's cover email

1.3

09/04/14 Emails with Ms. murphy and Mrs. Stewart regarding RCMP request for Bahamian transcripts; Advantage - prepare mark-up of latest version of Tax memo, send to Ms. Briant and Mr. Murray with additional queries; further revise draft tax and interim distribution schedules regarding U.S. credit, split of federal and Ontario tax; email to Mr. Miller, discuss with Ms. Murphy; prepare update of outstanding professional fees

1.8

09/05/14 Advantage - emails with Mr. Miller; further revisions to tax calculation and interim distribution schedules and send to Mr. Murray for review; emails with Mr. Murry regarding responses to queries on tax issues

1.2

09/08/14 Emails and file review regarding taxes 0.2

09/11/14 Email with Mr. Nunes regarding review of draft of the Receiver’s Update; revise and finalize Receiver's Update; prepare introduction summary for posting on website; arrange posting of Receiver's Update and introduction summary; various follow up on status of tax memo regarding Advantage

0.8

09/12/14 Revisions to draft tax calculations based on input from KPMG Tax 0.3

09/17/14 Receive Bahamas summary judgment, emails with Mrs. Stewart, Mr. Nunes regarding same, various internal discussions

0.8

09/18/14 Meeting with Ms. Murphy and Ms. Bradley regarding transition matters; prepare emails to RCMP and Mr. Kauffman regarding Bahamas decision; conference call with Ms. Murphy, Mr. Nunes and Mrs. Stewart regarding Judgment, appeal and stay considerations

1.5

09/19/14 Prepare Receiver's Update for website regarding Judgment; arrange posting of Update and Judgment on Receiver's website; email to Mr. McElcheran with copy of Judgment

0.7

09/22/14 Revise Advantage tax calculations and send to Ms. Briant by email for review

0.6

09/25/14 Meeting with Ms. Murphy regarding outstanding matters, including Advantage tax calculations and revisions to draft interim distribution calculations; revise draft interim distribution calculations

0.8

09/26/14 Email to Mr. Sahagian, KPMG general counsel, regarding Bahamian Court decision

0.2

10/06/14 Emails with Mrs. Stewart regarding status of Order, expiry of appeal period 0.2

10/07/14 Re Advantage taxes: prepare Scenario 2 tax calculations based on lower acquisition costs of policies, prepare draft email to Ms. Murphy regarding differing costs base approaches and impact of taxes payable

1.2

10/08/14 Revise email and schedules regarding Advantage taxes 0.3

10/09/14 Preparation of Twelfth Report to the Court 1.3

10/10/14 Preparation of Twelfth Report, finalize email to Ms. Murphy regarding Advantage taxes

0.5

10/14/14 Finalize email to Ms. Murphy with revised tax and interim distribution schedules; preparation of Twelfth Report

2.3

10/15/14 Meeting with Ms. Murphy to review email and tax and interim distribution schedules and considerations; preparation of Twelfth Report

3.0

10/16/14 Preparation of Twelfth Report 2.6

10/20/14 Discussion with Ms. Murphy regarding comments on draft report; report revisions; conference call with Ms. murphy, Mr. Nunes, Mrs. Stewart regarding appeal hearing, precedents required

1.0

10/21/14 Discussions with Ms. Murphy, including regarding update from Mrs. Stewart on appeal hearing

0.3

Total 25.2

Jane Briant

08/27/14 Discussion Larry regarding updates to memo 0.7

09/03/14 Discussions with Larry - update tax memo for changes 1.5

09/09/14 Review of distributions/discussions with Larry regarding items in memo 0.7

09/10/14 Email to Brad regarding distributions & calculations 0.8

09/23/14 Review revised draft tax calculations, update memo. 0.5

11/03/14 Review of FS & consideration of tax year end 1.0

11/06/14 Finalize return dates 0.2

11/13/14 Review of draft statement & RFI - Tax returns 0.5

11/18/14 Get Jessica set up for returns 0.2

11/25/14 Tax return issues, discussion Jessica 0.5

Total 6.6

Janine Bradley

09/18/14 Transition discussion with brad and eJM 0.5

Total 0.5

Jessica Papania

11/25/14 2007 - 2014 Tax Returns 1.5

11/26/14 Sch. 50 0.2

12/03/14 T2 – Sch 50 0.1

Total 1.8

Asya Rzhevsky

09/02/14 Prepare various schedules in Canadian and US dollars for policy 230 and 231

1.9

09/03/14 Prepare schedules and changes to ING policies 1560230 and 1560231 2.6

09/04/14 Changes and updates to schedules 1.8


09/30/14 Sep 22 - 0.8hrs, Sep 25 - 1.2 -changes to schedules 2.0

10/06/14 Prepare summary of allocation of acquisition costs among 21 companies 1.3

10/07/14 Changes to ING policies schedules 0.9

10/08/14 Update various schedules for ING policies 1.0


10/22/14 Prepare wire transfer to Ocean Club Residents 0.3

11/13/14 Prepare deposit - cheque from AXA, banking at RBC, clear messages from New Life mailbox

0.9

11/17/14 Print RC 1 forms, photocopy, mail, fax requests for Business Numbers for 2126533 Ontario Inc., 2100228 Ontario Inc. and 2108375 Ontario Inc.

1.3

11/25/14 Prepare detailed lists of boxes to ship to storage for B. Butcher and E. Murphy

1.2

11/26/14 Telephone discussion with Ministry of Finance regarding request tax number, emails to/from E. Murphy and tax regarding certificates of incorporations

0.6

12/01/14 Prepare wire to A. Miller 0.5

12/02/14 Prepare wire to Anglo Management regarding McCann refund, email to/from RBC

0.4

12/04/14 Prepare and list B. Butcher’s 12 boxes to storage 1.2

12/10/14 Prepare wire to Mr. A. Miller 0.5

12/15/14 Prepare wire to Anglo Management, emails to/from RBC regarding cleared funds

0.5

12/22/14 File HST return for 2012 and 2013 0.5

Total 20.7



August 15, 2019






$ 72,259.00 CAD 6,137.90

$ 78,396.90 CAD

HST 10,191.60







Page 1 of 1





Name Position Rate Hours Total Fees N. Brearton Partner $ 640.00 11.60 $ 7,424.00 J. McAuley Partner $ 640.00 4.00 $ 2,560.00 E. Murphy Associate Partner $ 600.00 22.80 $ 13,680.00 A. Consoli Senior Manager $ 550.00 38.30 $ 21,065.00 J. Briant Senior Manager $ 550.00 7.40 $ 4,070.00 J. Papania Senior Associate $ 320.00 34.50 $ 11,040.00 S. Dedic Senior Associate $ 320.00 22.60 $ 7,232.00 A. Boettger Senior Associate $ 320.00 0.40 $ 128.00 A. Rzhevsky Technician $ 230.00 22.00 $ 5,060.00 Total Fees Incurred Expenses

163.60 $ 72,259.00

Type Amount Printing Tax Consultant

$ 360.90 $ 5,777.00

Total Expenses Incurred $ 6,137.90


$ 78,396.90 $ 10,191.60

Total $ 88,588.50


Summary of Receiver's Activities for the Period January 1 to December 31, 2015

Nick Brearton

01/13/2015 Conference call with TGF (Danny and Jim) and EM re: sale of condo. 0.9

01/15/2015 Discussion with Sven re: call with NAI. Subsequent call with NAI re: condo listing.

1.7

01/20/2015 Discussion with E. Murphy re: sale of condo, distribution. 0.5

01/22/2015 Discussion with E. Murphy re: outcome of call with Bahamas counsel. 0.4

01/26/2015 Review of real estate info from NAI regarding Ocean Place unit. 1.0

01/30/2015 Review of draft letter re: sale of unit. Discussion with E. Murphy re: same.

0.3

02/19/2015 Discussion with E. Murphy re: file status. 0.5

02/20/2015 Preparation of To Do list. 0.8

03/2/2015 Review of various emails re: tax liability o/s. 0.3

03/25/2015 Discussion with A. Consoli re: status of file. 0.2

04/9/2015 Review of various emails re: disclosure of records to Lawrence. 0.6

04/17/2015 Prepare for call incl. discussion with A. Consoli on tax return and potential distribution; Call with TGF and A. Consoli re: Nassau assets, distribution.

1.0

04/27/2015 Review of various emails re: info requests. Discussion with A. Consoli re: tax returns, status of file.

0.4

05/5/2015 Review of insurance quotes. Discussion with Angelo re: issues. Review of background info.

0.7

06/16/2015 Review of email re: Paradise Harbour inquiry. Subsequent discussion with A. Consoli re: response.

0.3

06/17/2015 Review of email re: A. Consoli discussion with Paradise Harbour. Subsequent discussion with A. Consoli re: same.

0.2

07/5/2015 Email re: case management hearing and review of response. Forward query from investor to A. Consoli.

0.2

07/9/2015 Discussion with E. Murphy re: McKinney Bancroft request to be paid. Subsequent notes of analysis.

0.8

07/13/2015 Discussion with S. Townend regarding legal counsel and condo litigation.

0.5

08/10/2015 Discussion with J. Grout regarding file situation. 0.3

Total 11.6

James D. McAuley

07/29/2015 Review material related to J Bowers regarding RCMP request 0.8

07/30/2015 Review emails and documents related to RCMP request regarding Joel Bowers and email to P. Sahagian/E. Murphy regarding documents found

1.8

08/4/2015 Review documents regarding RCMP request 0.8

08/5/2015 Re RCMP request and related email form P. Winton 0.6

Total 4.0

Elizabeth Murphy

01/5/2015 Update with N. Brearton re: Bahamian litigation and sale of condo. Follow up email to N. Brearton

1.5

01/20/2015 Call with McKinney Bancroft; update with N. Brearton 1.3

01/22/2015 Update with N. Brearton. Email to A. Consoli with background info 0.5

01/29/2015 Further revisions to letter to P&L counsel regarding condo; location of McKinney Bancroft accounts

1.0

01/30/2015 Finalizing letter to P&L counsel regarding potential sale of the condo 0.3

02/10/2015 McCann policy transfer forms. Responding to additional information requested by AZA. Emails with E. Lawrence

0.5

02/12/2015 Responding to investor queries 0.4

03/2/2015 Emails from J. Briant. Ems with Angelo, regarding tax returns. Email with Advantage investor (West)

0.9

03/3/2015 Review of professional fees 1.0

03/26/2015 Emails from A. Consoli, provided A. Consoli with historical emails regarding Bahamian litigation

0.3

04/8/2015 Copies of closing policy documents to E. Laurence. Discussions with A. Consoli regarding next steps regarding Laurence and the transferred policies.

1.3

04/8/2015 Discussions with A. Consoli and review of emails regarding status of tax returns

0.3

04/9/2015 Re policies assumed by ELSM LP, review of documents, consideration of cover letter.

2.3

04/9/2015 Internal emails regarding tax returns 0.2

04/10/2015 Review of email/letter from Consoli to E. Laurence 0.1

04/20/2015 Review and signing of 228, 533 and 375 Ontario Inc. Tax returns for 2006 to 2013. Review of 2014 tax returns, signing of form for electronic filing. Consideration of 2015 return issues

3.6


05/6/2015 Searching for information for A. Consoli regarding insurance on condo 0.3

05/6/2015 Call with J. Briant regarding tax returns 0.3

05/8/2015 Call with CRA regarding amending returns to change status from CCPC 0.3

05/12/2015 Ems with A. Consoli 0.4

05/13/2015 Letter to CRA 0.4

05/19/2015 Email to A. Consoli re: role of Advisory Panel 0.3

05/25/2015 Emailed letters to CRA 0.2

06/22/2015 Info to A. Consoli regarding assumed policies 0.3

06/26/2015 E. Laurence - review of historical emails, call with A. Consoli and A. Rzhevsky

1.0

07/6/2015 Various emails/voicemails with A. Consoli regarding various file matters.

0.3

07/7/2015 Emails with A. Consoli and D. Stewart re: timing of call with Bahamian counsel

0.2

07/8/2015 Call with Bahamian counsel 0.5

07/10/2015 Calls with TGF regarding Bahamian counsel 0.5

07/16/2015 Call with RCMP - Email with RCMP 0.5

07/17/2015 Emails with RCMP with contact information for former KPMG employees

0.3

07/29/2015 Dealing with RCMP request 1.0

09/18/2015 Email to A. Consoli re: response to Advantage investor 0.2

Total 22.8

Jane Briant

01/5/2015 Tax return review - discussions regarding ownership, related parties, SBD, Sch. 9

1.4

03/9/2015 Installments 0.7

04/6/2015 Review of all year tax returns, research on T1135 filing position 2.8

04/7/2015 Notes to J. Papania 0.5

04/8/2015 Foreign tax credits - non-business vs business 0.3

04/13/2015 Final review tax returns, review of 2014 tax credits, follow up w D. Downie regarding provincial FTC, w L Murray regarding presentation in returns.

1.1

04/20/2015 Ontario legal issues 0.6

Total 7.4

Angelo Consoli

702/9/2015 Review draft report, filed reports and correspondence to/from counsel in preparation for meeting to obtain background on file;

1.5

02/10/2015 Ongoing review of Court reports in prep for background/update call with E. Murphy; attend call with Elizabeth/Sven re: file background, issues, etc.;

1.0

02/23/2015 Review correspondence from investor; response 0.4

02/25/2015 Call from and discussion with investor re: status of proceedings, etc. And send e-mail response with website link and most recent receiver's report;

0.2

02/27/2015 Send e-mails to investors with website link and most recent Receiver's report in response to queries;

0.2

03/1/2015 Review e-mail correspondence from E. Murphy and KPMG Tax group

re: tax filings/remittances to be processed and response to same; 0.8

03/2/2015 Compare estimated tax amounts versus figures provided by Tax Group and update to N. Brearton and E. Murphy; correspondence with Asya re: processing of the payments and follow up on same;

0.7

03/4/2015 Review updated summary of professional fees and schedule of estimated net recovery and discussions with Sven re: same; correspondence with N. Brearton and E. Murphy re: outstanding matters;

0.7

03/13/2015 Review e-mail correspondence re: updates; responses to investors that have contacted info desk;

0.2

03/27/2015 Correspondence with tax department, forward financials; call with counsel re: lack of response from counsel for other parties re: plan to sell condo;

0.4

04/1/2015 Discussion with N. Brearton re: correspondence from counsel, consideration re: sale process, review documentation and correspondence with TGF re: same;

0.4

04/2/2015 Correspondence to former investors re: status of proceedings; 0.2

04/8/2015 Review correspondence with ELSM requesting information; discussions with N. Brearton and E. Murphy re: same; and review outline of potential transfer notice; and other documentation relating to transfer of policies; call with ESLM to clarify points of information requested and update to E. Murphy and N. Brearton; correspondence with KPMG tax re: status of filing return;

1.8

04/9/2015 Review correspondence with E. Murphy and N. Brearton re: documentation included in Closing Documents and private & confidential nature of same; correspondence re: information available for ELSM request; review proposed letter agreement re: same; review information

0.9

04/10/2015 Prepare e-mail to ELSM and review/edits to letter authorization for policies re: information provided; follow up call with Mr. Laurence re: documentation to be executed and returned and timing of delivery of documents;

1.1

04/14/2015 Review documents executed by E. Laurence, circulate and advise to release documents via courier; call to former investor;

0.3

04/17/2015 Conference call with N. Brearton and counsel to discuss update on estate matters and planned correspondence to Bahamian counsel; review draft correspondence; correspondence re: status of tax returns;

0.7

04/20/2015 Review correspondence in respect of the tax return filings and requirement to reinstate tax account for filing purposes;

0.5

04/21/2015 Correspondence re: insurance premium, review statement of receipts and disbursements re: availability of funds on hand; review bank reconciliations; correspondence with former investor;

0.9

04/23/2015 Correspondence with former investor re: information requests; 0.2

04/27/2015 Review correspondence from E. Laurence, update to E. Murphy and N. Brearton and coordinate request with A. Rzhevsky; review request from Alberta Securities Commission re: subscription agreements; discussions/correspondence with E. Murphy/N. Brearton re: insurance and other reporting matters;

1.1

04/28/2015 Correspondence re: status of review for records requested by ASC; 0.3

04/28/2015 Discussions re: disallowed e-filed returns for 228 and steps necessary to reactivate account; in respect of discussions with the Ministry; update to E. Murphy and N. Brearton;

0.6

04/30/2015 Correspondence re: records in storage; 0.3

05/1/2015 Correspondence with A. Rzhevsky re: status of record review for Alberta Securities Commission, timing for payment of insurance policy renewal; update to ASC;

0.4

05/4/2015 Correspondence with E. Murphy to discuss insurance premium and E. Laurence requests; forward insurance invoice to A. Rzhevsky for processing; correspondence with ASC and forward documentation requested;

0.4

05/5/2015 Correspondence with Bahamian Insurance Broker re: extent of coverage, request for premium quotes on various insurance level coverages; wire transfer details; review quotes and provide summary to N. Brearton; correspondence with E. Laurence re: POC submitted;

1.1

05/5/2015 Correspondence with Counsel re: status of requests to re-activate corporate account for 228 Ontario in order to process tax returns;

0.2

05/6/2015 Correspondence with N. Brearton and E. Murphy re: insurance coverage; search and review Brad's e-mail files re: insurance coverage and quantum and provide update to N. Brearton and E. Murphy;

1.5

05/7/2015 Correspondence with A. Rzhevsky and the insurance broker re: the processing of the wire payment for the insurance premium;

0.2

05/12/2015 Correspondence with E. Murphy re: various estate matters; correspondence with E. Laurence re: POC forms, etc.;

0.5

05/13/2015 Correspondence with E. Murphy re: notices to CRA regarding CCPC vs. Private corporation; review notices and revisions to same; correspondence with counsel re: efforts to reinstate corporation for filing purposes;

0.6

05/14/2015 Correspondence re: requests from E. Laurence re: documentation requested;

0.3

05/22/2015 Review correspondence from counsel re: notification of 238 dissolution, review corporate profile and update to KPMG Tax to request re-attempt to e-file returns;

0.3

05/25/2015 Correspondence with E. Laurence re: request for POC's; 0.1

06/16/2015 Review correspondence from E. Laurence re: request for info, review e- mail files and provide response; review correspondence from counsel re: condo board contact and e-mail contact;

0.5

06/17/2015 Call with RCMP officer re: records; call with Condo association representative re: arrears of condo dues, water, electricity, etc. And update to N. Brearton;

0.7

06/22/2015 Call to/from RCMP representative re: release of information; 0.2

06/23/2015 Correspondence with RCMP re: E. Laurence request for original documentation; discuss with E. Murphy and review e-mail files for info requested;

0.6

06/24/2015 Ongoing review of e-mails for info requested by RCMP; compile info and e-mail to RCMP;

0.4

06/25/2015 Review e-mail correspondence from RCMP re: retention of documentation; review e-mail from E. Laurence re: documentation on a policy;

0.2

06/26/2015 Review additional e-mails from E. Laurence and call with E. Murphy/A. Rzhevsky re: same; review historical e-mails re: same; correspondence with counsel re: same; call to Proverian and to Erik re; same;

0.7

07/6/2015 Review medical summary report on policy located by A. Rzhevsky and update call to E. Laurence to advise of documentation located; review call hotline and return calls to creditors/investors; discuss investor request with A. Rzhevsky, review document located and forward same to investor; call with N. Brearton re: update on file matters;

1.8

07/8/2015 Discussion with E. Murphy and conference call with Bahamas counsel; 0.5

07/9/2015 Discussions with A. Rzhevsky re: payments to Bahamas counsel; review schedules and R&D re: same; correspondence with Liz and counsel to coordinate update call;

0.9

07/10/2015 Conference call with E. Murphy and counsel re: update on proceedings and discussions with Bahamas counsel; update call with N. Brearton;

0.5

07/13/2015 Review correspondence from Proverian; call with E. Laurence and forward info located;

0.4

07/15/2015 Correspondence with RCMP re: queries on estate; call with investor from Winnipeg re: status of estate;

0.3

07/31/2015 Check creditor line; call to / from creditor; 0.3

08/10/2015 Review e-mail trail details re: RCMP request for information; discussion with N. Brearton re: same; call to RCMP;

0.9

08/19/2015 Call with shareholder re: status of estate and e-mail to confirm same; 0.4

08/21/2015 Call with RCMP rep re: info requests and necessity for judicial order; 0.2

09/17/2015 Correspondence with Advantage Program investors; 0.4

10/5/2015 Review files and past reports, review draft court reports and edits to same;

2.0

10/7/2015 Calls to CRA reps re: clearance certificate requests; 0.5

10/9/2015 Bank reconciliation 0.3

10/14/2015 Review R&D figures; discussions re: status of materials; review prior reports re: background on issues; discussions with N. Brearton and J. Bradley re: process/timeline to obtain clearance certificates; call to/from CRA rep to discuss same;

0.8

10/15/2015 Review and revisions to draft Court Report; 1.1

10/22/2015 Call from RCMP officer; update/request to KPMG Internal counsel; 0.2

11/10/2015 Correspondence with investor 0.1

11/13/2015 Call from former New Life Investor re: statements / information received from Canadian Western Trust; discuss re: same and response to investor;

0.5

11/23/2015 Correspondence with investor; 0.2

12/1/2015 Correspondence with investor; 0.2

12/6/2015 Calls / e-mails with various investors; 0.6

12/14/2015 Prepare draft e-mail/letter to Capital Advisor Investors and forward to N. Brearton for review.

0.9

Total 38.3

Jessica Papania

01/5/2015 Tax returns - PDF draft returns, ON Corp No., BN, related corporations 1.5

02/27/2015 Estimate 2014 taxes payable with foreign tax credits 1.5

03/5/2015 2006, discuss with Larry his comments 0.5

03/13/2015 New Life Tax Returns 6.0

03/19/2015 2018375 Tax Returns 2007 to 2014 4.5

03/25/2015 New Life Tax Returns 3.5

03/27/2015 Tax returns -533 1.0

04/1/2015 New Life Tax returns - T1135, draft transmittal letters 2.0

04/8/2015 Tax returns - discuss with J. Briant changes, T1135s FTC 1.5

04/9/2015 New Life Tax returns - pdf final returns 5.0

04/13/2015 Print out returns 5.0

04/14/2015 New Life T2 - scanned TL, deliver returns to E. Murphy, efile requests to EP

1.0

04/20/2015 New Life - EFILE , T183s, confirmations, calls to CRA regarding 288, & 533

1.5

Total 34.5

Adam Boettger

04/28/2015 Contact Ministry of Government Services to inquire about how to reinstate business number; Review what T2 Income Tax Returns had been provided by the Company

0.4

Total 0.4

Sven Dedic

01/13/2015 Discussion with Nick about background of client and work needing to be done surrounding sale of Bahamas condominium; Contacting former

2.3

partner (Elizabeth Murphy) to obtain relevant documents from 2011 listing of condominium. Researching old listings for listing price and communication with realtor.

01/14/2015 Review of amended proposal agreement sent by Elizabeth Murphy. Review of prior proposal agreement in 2011 in anticipation for call with Larry Roberts (realtor) in Bahamas.

2.0

01/15/2015 Hold call with Larry Roberts (realtor) to discuss expected selling price, condition of apartment, timing of sale etc. for the Bahamas

1.5

condominium. Contact Elizabeth Murphy post call to discuss access to apartment and other inquiries made by Larry.

01/16/2015 Discussion with Nick Brearton surrounding updates to Bahamas proposal agreement including outstanding issues surrounding access. Drafting and sending email to Larry Murphy (realtor) explaining

1.0

situation.

01/19/2015 Review email correspondence between Danny Nunes at TGF and 0.3 Elizabeth Murphy regarding listing agreement

01/20/2015 Review Danny Nunes comments on initial proposal agreement document 0.2

01/26/2015 Review materials prepared by Larry Roberts regarding potential listing price for condominium including industry comparable, similar listings

2.8

and estimate of range of price per square foot calculations. Meeting with Nick to discuss conclusions from analysis and additional inquiries for Larry regarding sale of condo including expected selling price.

01/27/2015 Call with Larry Roberts to discuss expected selling price of condo and timeframe of sale; Compiling and creating list of all outstanding

3.0

professional fees of New Life including legal

01/28/2015 Compiling outstanding professional fees including invoices for 1.5 McKinney Bancroft dating from 2012 to present. Also compiling

invoices for outstanding condo HOA fees.

01/29/2015 Updating professional fee summary for invoices received from E. Murphy

0.5

01/30/2015 Reviewing updated letter of sale for condominium 0.5

02/10/2015 Conference call with Angelo and Elizabeth to discuss go forward plan 1.5 and any issues; Editing and sending copy of summary of prof. Fees to

Angelo for review

03/2/2015 Adjusting summary of prof. fees to submit for presentation/filing 2.0

03/3/2015 Correspondence with Elizabeth Murphy re: professional fee summary. 0.5

03/5/2015 Discussion with Asya on unissued billings and adjust to summary. 1.0

04/28/2015 Correspondence with Angelo regarding subscription agreements for Security commission and discussion with Asya to locate documents

1.5

04/30/2015 Discussion with Asya regarding subscription agreements for some investors in New Life

0.5

Total 22.6

Asya Rzhevsky

01/6/2015 Prepare billing from October 1 to December 31, 2014, prepare summary of KPMG billings from October 2011 to December 2014, review boxes to locate J. Bell death certificate agreement

4.8

01/7/2015 Prepare summary of time and hours by person from Oct 2011 to Dec 2014, reconciliation to the billing summary schedule, prepare bank reconciliations from Oct to Dec 2014

3.2

01/8/2015 File HST return for 2014 0.2

03/2/2015 Emails to/from A. Consoli, prepare cheques for Corporate taxes, payments at the bank, prepare courier to CRA

1.2

03/3/2015 Print unissued billings from February 2013 to December 2014, changes to summary of billing for Sep to Dec 2014

1.1

04/8/2015 Emails from/to E. Murphy, locate policies for Shami, Bell and McCann, request printing, printing documents from DVD's in the folders, prepare letter and courier to Anglo Management

1.3

04/9/2015 Searches for files, emails, scan documents and email to A. Consoli, update schedules

1.5


04/30/2015 Review boxes for subscription agreements, emails to/from A. Consoli 0.6

05/4/2015 Pull from boxes and photocopying subscription agreements 1.2

05/7/2015 Prepare wire to J.S. Johnson regarding condo insurance 0.3

05/19/2015 Email to A. Consoli regarding CRA refunds 0.2

05/20/2015 Prepare deposits, banking at RBC 0.5

06/29/2015 Review box from storage for medical records 2012 from Proverian, email to A. Consoli

0.6

07/6/2015 Email POC to A. Consoli, update investors information 0.2

07/8/2015 Prepare bank reconciliations for all accounts for the period April to June 2015

0.8

07/9/2015 Prepare summary of paid legal fees for McKinney Bancroft & Hughes, email to A. Consoli

2.1

07/27/2015 Search boxes for notes from A. Singels-Ludwig and B. Butcher, email to E. Murphy

0.8

07/29/2015 Search for RCMP records, email documents to A. Consoli 0.5

10/5/2015 Prepare bank reconciliations July to Sep 2015 0.6

Total 22.0

CAD Wire Payments: Beneficiary: KPMG LLP Bank Details: TD Canada Trust, 55 King St. West,Toronto, ON M5K 1A2, Bank Code # 004, Transit # 10252, Account # 0938281, Swift Code TDOMCATTTOR



Please e-mail related wire payment details including invoice number to [email protected]


Page 1 of 1

Payment is due upon receipt

August 15, 2019

KPMG Inc.Suite 4600 Bay Adelaide Centre333 Bay StreetToronto, ON M5H 2S5

Payment Address:KPMG LLP, T4348P.O. Box 4348, Station AToronto, ON M5W 7A6

1023774310 TQ0001QST Registration12236 3153 RT0001GST/HST Number

New Life Capital Corp.655 Bay Street, Suite 1110Toronto, ON M5G 2K4

2000001793

1000011481

Nick Brearton

(416) 777-3768

[email protected]

5002862635:

Reference

Client

Contact

Telephone

Email

:::::

Draft Bill


Amount Due 99,131.51

87,727.00

Our Fee 87,727.00$ CAD

$

$

CAD

CAD

HST 11,404.51



Name Position Rate Hours Total Fees N. Brearton Partner $ 640.00 31.30 $ 20,032.00 J. McAuley Partner $ 640.00 1.60 $ 1,024.00 A. Consoli Senior Manager $ 550.00 82.60 $ 45,430.00 T. Montgomery Senior Manager $ 550.00 33.90 $ 18,645.00 K. Mackenney Technician $ 230.00 3.20 $ 736.00 A. Rzhevsky Technician $ 230.00 6.00 $ 1,380.00 J. Zakkai Senior Associate $ 320.00 1.50 $ 480.00

HST 171.10 $ 87,727.00

$ 11,404.51 Total $ 99,131.51



Nick Brearton

01/12/2016 Call with GCO, J. McAuley, E. Murphy and A. Consoli re: RCMP record request. Subsequent discussion with AC re: next steps.

0.7

01/15/2016 Call with McKinney Bancroft re: fee situation 1.0

02/8/2016 Discussion with A. Consoli regarding status 0.2

02/9/2016 Review of draft 12th report; Discussion with Angelo regarding comments on report.

2.7

02/28/2016 Review and revise Court Report 2.4

02/29/2016 Call with A. Consoli to discuss report changes. 0.8

03/2/2016 Review of revised report and make changes to same. Discussion with Grout regarding report and background. Discussion with Heather M regarding report and background. Various discussions with Angelo regarding report changes, calls with TGF and Mc.

3.0

03/3/2016 Discussion with R. Francescutti and P. Winton re: Court order being sought. 0.6

03/4/2016 Discussion with A. Consoli regarding calling Miller, status of report. 0.3

03/8/2016 Discussion with A. Consoli regarding final revisions to report and distribution of same internally. Various emails internally.

0.5

03/9/2016 Discussion with J. Grout regarding issue of approval factors. 0.5

03/10/2016 Discussion with A. Consoli regarding fees and presentation in report; Discussion with R. Francescutti and P. Winton regarding status.

0.6

03/13/2016 Review of McCarthy's suggested changes to Court Report. Draft insert to Court report regarding CPA complaint. Draft email to J. Grout regarding CPA complaint. Review Draft Court Order and provide comments on same. Review A. Consoli’s email regarding report issues, service of CRA.

1.3

03/15/2016 Discussion with A. Consoli regarding Court Order revisions. 0.2

03/17/2016 Various discussions/emails with J. Grout, A. Consoli and P. Winton regarding finalizing Court Order and report, serving materials.

0.7

03/18/2016 Review of draft response to CPA Ontario and related emails on same. Email comments on draft.

0.5

03/19/2016 Review of various emails regarding RCMP info request. Email to A. Consoli regarding website. Filing of materials.

0.3

03/20/2016 Review of revised Court Order and related materials 0.4

03/21/2016 Review of latest revisions to Court Report, incl. R&D and Schedule of distribution; Various discussions with A. Consoli regarding fees, Court Order revisions, service list etc.

0.9

03/22/2016 Review of fee invoice. Discussion with A. Consoli regarding same. 0.4

03/23/2016 Review of various emails regarding fee affidavit, email for CPA. Sign fee affidavit. Discussion with A. Consoli regarding CPA etc.

0.6

03/24/2016 Review of motion materials and court report appendices; discussions with A. Consoli re: same.

1.2

03/27/2016 Review of Court Order and email regarding approval of actions. Filing. 0.5

03/30/2016 Review of revisions to Court Order, Notice of Motion and Certificate of Performance. Subsequent discussion with A. Consoli regarding changes required.

0.5

03/31/2016 Discussion with A. Consoli regarding Court Order. Subsequent discussion with J. Grout regarding same; Discussion with A. Consoli re: discussion with J. Grout.

0.6

05/3/2016 Attendance at Court; Discussion with A. Consoli re: distribution to creditors, sharing of fees.

2.1

05/5/2016 Discussion with A. Consoli re: distribution; Subsequent review of draft letter and provide comments on same; Discussion with T. Montgomery re: replacing A. Consoli; Filing

0.8

05/6/2016 Review and respond to draft email to CRA prepared by P. Winton. 0.3

05/9/2016 Draft email regarding Completion certificate. 0.2

05/15/2016 Email to TGF re: original copy of certificate of performance. Draft email to McKinney Bancroft re: acting going forward.

0.4

05/16/2016 Discussion with A. Rzhevsky re: insurance on condo and sources of payment.

0.3

05/17/2016 Finalize and issue emails re: fee sharing/Bahamian counsel future involvement. Email on fee payment.

0.3

05/27/2016 Conference call with D. Stewart and B. Moree re: contingent work issue; Subsequently prepare notes on call.

0.7

06/17/2016 Discussion with T. Montgomery re: outstanding fees and likely recoveries. 0.3

07/22/2016 Discussion with D. Stewart re: Condo corp. wanting to sell condo for fee arrears.

0.3

07/28/2016 Discussion with T. Montgomery and E. Fields re: outstanding condo fees. 0.3

09/22/2016 Prepare for and subsequent conference call with RCMP and P. Winton re: bail hearing for Lombardi, realizations on Bahamian assets.

0.6

11/1/2016 Discussion with E. Field and lawyers re: sale of unit. 0.5

11/8/2016 Discussion with T. Montgomery re: correspondence to commonwealth Bank.

0.3

11/14/2016 Discussion with P. Reynolds re: file status. 0.2

11/15/2016 Discussion with J. Grout re: status of file. 0.3

11/22/2016 Call with RCMP and P. Winton re: contact info for stakeholders, realization estimate on Bahamas assets; distribution of restitution funds; Discussion with T. Montgomery re: contact info, bank account, watches.

0.8

11/25/2016 Review and revise draft email to RCMP; Discussion with Tim Montgomery re: comments on same.

0.3

12/14/2016 Discussion with T. Montgomery re: next steps now have funds. 0.1

12/20/2016 Discussion with McKinney Bancroft and T. Montgomery re: restoring FHC and realizing on condo.

0.5

12/22/2016 Discussion with J. Grout re: file status. 0.3

Total 31.3

James D. McAuley

01/12/2016 Call with E. Murphy, P. Winton, N. Brearton. Review emails and send information to A. Consoli regarding RCMP and disclosure

1.2

03/11/2016 Review and consider email regarding RCMP and email to team on issues regarding Forensic

0.4

Total 1.6

Tim Montgomery

06/13/2016 Preparation of billings for Advantage Investor Distribution 0.6

06/17/2016 Preparation of outstanding fee summary by professional and internal discussion with Nick Brearton

0.8

06/21/2016 Preparation of outstanding fees summary by professional; preparation of pro-rate share; request fee payments to be made; draft cover letters to each professional; respond to creditor correspondence

1.6

06/22/2016 Preparation of Bahamian Condo realization analysis and subsequent fee recoveries by professional

1.5

07/13/2016 Chase up bank drafts re: Advantage Investor Distribution 0.5

07/22/2016 Correspondence with Diane Stewart re: Condo corp. wanting to sell Bahamian Condo for HOA arrears

0.5

07/28/2016 Conference call with Ed Fields re: file update and outstanding HOA arrears 0.3

08/8/2016 Further update of outstanding professional fee summary 0.3

09/12/2016 Email correspondence regarding Unit A1.4 and sale process 0.4

09/16/2016 Email correspondence regarding Unit A1.4 and sale process 0.5

10/24/2016 Discussions with Diane Steward regarding appeal date; internal correspondence with N. Brearton regarding same; email correspondence with Ed Fields regarding sale process

1.2

10/28/2016 Internal discussion with N. Brearton regarding next steps for the Bahamian Condo sale process; email correspondence with Ed Fields regarding next steps

0.7

10/31/2016 Review books and records regarding Bahamian assets and the initial sale process for the Bahamian Condo; draft letter to Davis regarding possession of the Watches; arrange conference call with Diane Stewart regarding legal issues in relation to conveying the Bahamian Condo

1.4

11/1/2016 Conference call with Diane Stewart and Ed Fields regarding legal issues in relation to conveying the Bahamian Condo; subsequent email to legal counsel

0.9

11/2/2016 Internal discussion with N. Brearton; communication with legal counsel; review books and records regarding Bahamian assets

1.3

11/3/2016 Discussions with Davis & Co regarding watches; discussions with Commonwealth Bank regarding bank accounts

1.2

11/4/2016 Update draft letter to Davis regarding possession of the Watches 1.5

11/7/2016 Finalize draft letter to Davis regarding possession of the Watches; internal discussions regarding same with Nick Brearton; subsequent review of Extension Order; update and amend Receiver website.

2.3

11/9/2016 Review books and records regarding funds help by Commonwealth Bank 1.8

11/10/2016 Draft letter regarding funds held by Commonwealth Bank; internal discuss with Nick Brearton regarding same; finalize letter

2.6

11/11/2016 Conference call with Diane Stewart regarding Bahamian Assets 1.5

11/15/2016 Update email correspondence to Diane Steward regarding Bahamian Assets 0.4

11/22/2016 Prepare summary of creditor details and historical claims process for RCMP 2.4

11/24/2016 Email correspondence regarding Bahamian Assets 0.4

11/25/2016 Discussion with Nick Brearton regarding RCMP email; Finalize response and send to RCMP

1.8

11/29/2016 Follow up with RCMP regarding Lombardi 0.4

12/8/2016 Conversation with RCMP regarding outstanding costs; internal discussion and draft email response, review RCMP letter and post to website

1.8

12/14/2016 Internal discussion with N. Brearton regarding Bahamian funds and next steps, draft and send email to Diane Stewart

0.6

12/15/2016 Review boxes and prepare memo regarding original marketing of the Bahamian Condo and offers received; creditor correspondence regarding restitution order

1.5

12/19/2016 Creditor correspondence regarding restitution order 0.4

12/20/2016 Conference call with Diane Stewart regarding restoring FHC and realizing on the Bahamian Condo

0.8

Total 33.9

Angelo Consoli

01/12/2016 Call with N. Brearton, E. Murphy, Paul and J. McAuley re: RCMP request; review e-mails provided by J. McAuley; review list of company records and update to team re: same;

1.5

01/20/2016 Email correspondence 0.1

01/25/2016 Correspondence with various investors re: status of proceedings; 0.3

02/3/2016 Correspondence with numerous investors; review records to see if CAP investors and respond accordingly;

0.4

02/8/2016 Review records, updates to draft Court Report and forward to N. Brearton for review;

2.8

02/9/2016 Call with N. Brearton to discuss draft Court Report, review correspondence with RCMP, call to RCMP officer;

1.4

02/10/2016 Review and edits to draft report; call with N. Brearton re: additional comments; review R&D;

2.2

02/11/2016 Review and edits to draft report, review prior reports, orders, files, etc. For inputs into report;

3.0

02/12/2016 Court report review/revisions; review files on fee info, prior orders, tax returns, etc.;

1.8

02/15/2016 Review and revisions to Draft 12th Report 4.0

02/16/2016 Review and revisions to Draft 12th Report and circulate to N. Brearton and E. Murphy;

1.8

02/17/2016 Review E. Murphy's comments on draft Court Report; review schedules to be included as appendices and reconcile to report;

1.2

02/18/2016 Call with E. Murphy to discuss draft report, notes therein, additional documentation and supporting info re: report;

2.5

02/19/2016 Call with N. Brearton to discuss updates on report, items to be considered, etc.; compile same and forward;

0.8

02/29/2016 Call with RCMP re: request for access to records and update call with J. McAuley and subsequently with N. Brearton re: same; call with N. Brearton to discuss Draft 12th report;

2.2

03/1/2016 Review and revisions to court report and associated charts; discussions with

N. Brearton re: same; review files re: tax costs, U.S. counsel billings, etc.; 5.5

03/2/2016 Review comments from N. Brearton re: report; revisions to report, updates to schedules/calculations to court report, etc.;

4.5

03/3/2016 Response call to investor; review correspondence from counsel; review correspondence with RCMP, review files and draft e-mail response and forward to N. Brearton for review;

1.8

03/4/2016 Calls to/from Investor; correspondence with N. Brearton re: next steps; 0.4

03/7/2016 Calls to investors regarding proceedings; review counsel's comments on report; review and updates to Court report; discussions re: revisions to same;

2.2

03/8/2016 Correspondence with N. Brearton re: NTD's included in report, other report considerations re: distribution calculation; revisions to report and circulate to P. Winton and R. Francescutti; call with A. Miller re: the allocation of Advantage Investor interests;

2.5

03/9/2016 Correspondence with counsel re: service of court motion; review draft notice of motion, and order;

0.8

03/10/2016 Call with RCMP officer re: status of Production Order; follow up with N. Brearton; review and discuss tax time allocations;

0.7

03/11/2016 Prepare e-mail (internal) re: update on correspondence with RCMP and draft response to RCMP; review and updates to draft court report and additional section to be included based on correspondence with N. Brearton; review prior reports to obtain facts on info required for the report;

3.3

03/15/2016 Review comments on Draft Order, discuss same; review and make revisions and circulate to counsel; review internal counsel correspondence and call to RCMP to discuss; review info re: tax billings;

1.0

03/16/2016 Correspondence with RCMP and updates/correspondence with internal counsel; coordinate compilation of appendices for 12th Report; correspondence with various investors and review records re: information requested; review records for information inputs in 12th Report including e- mail searches;

3.0

03/17/2016 Correspondence re: Commonwealth bank account; review comments from N. Brearton and counsel re: court report;

0.7

03/18/2016 Review and revisions to court report, revisions and compilation of associated appendices; review correspondence from RCMP and circulate internally;

4.5

03/21/2016 Search files for addresses of parties to be served and information required to update materials; review and revisions to Draft Order and Notice of Motion and circulate same to N. Brearton and counsel; review and revisions to draft Report; searches for appendices;

3.0

03/22/2016 Review time information and updates to supporting schedules; discuss same with N. Brearton; prepare draft Fee Affidavit; correspondence with counsel re: motion materials; compile and update charts re: reconciliation between gross death benefits and distribution; correspondence with Advantage investor re: contact info for other parties, updates to address listing and circulate to counsel;

3.5

03/23/2016 Correspondence internally re: notice to CPA; review and revisions to schedules and court report; forward information to counsel;

2.7

03/24/2016 Correspondence with N. Brearton re: RCMP notice letter, schedules, etc.; updates to court report and schedules; prepare App H - Completion Certificate; compile all appendices and forward to counsel; correspondence with investor; check New Life phone line;

2.5

03/28/2016 Review N. Brearton's e-mail re: draft court order, review prior reports/orders and response to N. Brearton;

0.5

03/29/2016 Correspondence with N. Brearton re: status of report, order, etc.; correspondence with counsel re: same; review revised draft Order and draft Notice of Motion and call to N. Brearton discuss same;

1.0

03/30/2016 Discussion with N. Brearton re: revisions to Order and Notice of Motion, timing, etc.; revisions to Draft Order, and circulate to counsel and N. Brearton with comments on revisions;

1.5

03/31/2016 Call with N. Brearton to discuss counsel's comments on Draft Order; review report in reference to same; follow up call with N. Brearton re: outcome and subsequent revisions to report, order and notice of motion and circulate same;

2.1

04/1/2016 Correspondence with N. Brearton re: draft Court documents; revisions to same and circulate;

0.8

04/11/2016 Correspondence with counsel - review and compile doc's to resend to counsel;

0.4

04/14/2016 Correspondence with counsel; review service list and provide comments; review Bank rec's;

0.5

04/15/2016 Correspondence with counsel; update to Investor; 0.3

04/27/2016 Review correspondence re: CPA Ontario response; follow up with counsel re: service; correspondence with N. Brearton; coordinate posting of materials on to external site;

1.2

05/3/2016 Correspondence with N. Brearton re: outcome of court proceedings, plan to proceed with distribution, fee approval, etc.; correspondence with 2 Advantage Investors re: same; correspondence from other investors requesting updates; prepare summary for A. Rzhevsky to prepare distribution; prepare chart and circulate to N. Brearton re: allocation of fees;

2.2

05/4/2016 Correspondence re: distribution; 0.4

05/5/2016 Discussions re: status of bank drafts, letter re: same; complete and compile letters to Advantage Investors; review issued order, forward to Rep Counsel and arrange to post on external website; correspondence with A. Rzhevsky re: investor query, efforts to review records;

1.7

05/6/2016 Correspondence to investor re: query; locate Certificate of completion and forward to N. Brearton for execution;

0.5

05/9/2016 File Certificate of Completion 0.9

Total 82.6

Jordan Zakkai

11/15/2016 Research second hand market value for two Breitling watches. Contacted Canadian authorized distributors of the Breitling brand and high end second hand watch retailers to obtain appraisal value for the watches.

1.0

11/22/2016 Prepared summary of all remaining outstanding claims for New Life creditors

0.5

Total 1.5

Asya Rzhevsky

01/6/2016 Prepare bank reconciliations from Oct to Dec 2015 0.3


05/3/2016 Prepare request to RBC regarding distribution drafts, prepare labels for mailing cheques

0.6

05/4/2016 Prepare bank reconciliations, pick up bank drafts from RBC 0.4

05/5/2016 Review requested box from storage and email subscription agreement to A. Consoli, mail by registered mail dividend cheques

1.2

05/27/2016 Prepare wire to J. S. Johnson 0.5

06/21/2016 Prepare request for 4 bank drafts and fax to RBC 0.2

06/22/2016 Pick up drafts, prepare courier, update R&D 0.4

08/8/2016 Pick up bank draft from RBC, prepare courier and email 0.7

08/19/2016 Prepare bank reconciliations from Apr to July 2016 0.8


Total 6.0

Kate Mackenney

01/22/2016 Working on email package to ascertain information already sent to RCMP 1.1

02/12/2016 Working on historical invoices and amounts owing. 0.3

03/2/2016 Retrieving emails regarding claimant Ryan Herbold 0.3

03/3/2016 Searching email history for documentation required for Court Report. 0.1

03/8/2016 Looking for information on portfolio policies. 0.4

03/9/2016 Historical WIP analysis and invoice search. 0.2

03/16/2016 Collating Appendices for the court report. 0.5

03/17/2016 Following up with D. Turnquest at CB to confirm current account details. Phone calls and email correspondence

0.3

Total 3.2



August 15, 2019






$ 73,774.00 CAD 8.05

$ 73,782.05 CAD

HST 9,591.67







Page 1 of 1





Name Position Rate Hours Total Fees N. Brearton Partner $ 640.00 16.10 $ 10,304.00 A. Xilinas Partner $ 640.00 1.00 $ 640.00 T. Montgomery Senior Manager $ 550.00 101.90 $ 56,045.00 A. Fennema Senior Associate $ 320.00 17.25 $ 5,520.00 A. Rzhevsky Technician $ 230.00 5.50 $ 1,265.00 Total Fees Incurred Expenses

141.75 $ 73,774.00

Type Amount Key Cutting $ 8.05



$ 73,782.05 $ 9,591.67

Total $ 83,373.72



Nick Brearton

01/6/2017 Discussion with T. Montgomery and L. Roberts re: listing of unit. 0.3

01/17/2017 Review of draft Court materials re: resurrecting FHC. 0.3

01/18/2017 Discussion with T. Montgomery re: motion materials to restore FHC, efforts to recover watches; Conference call with D. Stewart, Justine and T. Montgomery re: motion materials.

0.6

01/20/2017 Review of revised Court materials; Discussion with T. Montgomery re: comments including need to consider property search.

0.3

01/23/2017 Review and respond to email from Realtor re: keys don't work; Review of various emails to/from realtor, D. Stewart and T. Montgomery re: tenant in unit and determining who that is and whether paid HOA fees. Various discussions with T. Montgomery re: same.

0.4

01/24/2017 Discussion with T. Montgomery re: unit tenant and amending Court materials to deal with; Discussion with T. Montgomery re: leaving tenant in place; Review of subsequent email from Realtor on same.

0.4

01/25/2017 Discussion with T. Montgomery re: tenant and vacating premises; Discussion with T. Montgomery re: his call with D. Stewart; Review of email to tenant by D. Stewart and subsequent discussion with T. Montgomery re: vacancy date; Email to D. Stewart re: capacity signing documents in.

0.7

01/30/2017 Review of emails from Mck Ban and realtor re: tenant vacancy date, listing property, sale to tenant; Discussion with T. Montgomery re: response.

0.3

01/31/2017 Attend at TGF's offices to arrange to have my affidavit witnessed by J. Grout; Email to D. Stewart regarding what needed to be notarized and review of response.

1.2

02/1/2017 Review of email from D. Stewart on watches; Discussion with T. Montgomery on response.

0.2

02/16/2017 Review of marketing proposal from Bahamas Realty; Discussion with T. Montgomery re: Bahamas Realty marketing preparation and next steps.

0.6

03/1/2017 Discussion with J. Grout re: listing of condo/Canadian Court Order recognizing Bahamas order; Discussion with T. Montgomery re: MLS

0.6

agreement, Court report; Discussion with T. Montgomery re: outcome of call with realtor.

03/7/2017 Review of email from L. Roberts; Locate MLS Agreement for Prospect Ridge.

0.3

03/15/2017 Discussion with T. Montgomery re: MLS terms. 0.2

03/28/2017 Various discussions with T. Montgomery re: condo tenant; review various emails of T. Montgomery, realtor and D. Stewart re: tenant vacating; and obtaining vacant possibility.

0.6

03/30/2017 Discussion with T. Montgomery re: status; review draft email to D. Stewart and review same; call with D. Stewart and T. Montgomery re: tenant and court application.

0.5

04/6/2017 Various discussion with T. Montgomery re: outcome of Court hearing, info to provide for tenancy on April 12.

0.3

04/10/2017 Discussion with T. Montgomery re: email to McKinney Bancroft on tenancy hearing.

0.3

04/11/2017 Review D. Stewart's email re: tenant communications; discuss with T. Montgomery re; next steps; discuss with T. Montgomery re: D. Stewart and Wed Court hearing and instruction thereto.

0.7

04/12/2017 Various discussion with T. Montgomery re: court order obtained; review of same.

0.2

04/13/2017 Filing and discussion with T. Montgomery re: insurance, Canadian Court recognition of Bahamas orders.

0.4

04/18/2017 Discussion with J. Grout re: sale of condo and need for Canadian Court order.

0.3

05/9/2017 Discussion with McKinney B. re: funding request. 0.2

05/10/2017 Review and respond to various emails on insurance coverage. 0.3

05/16/2017 Various discussion with T. Montgomery re: insurance and repair funding. Review email from McKinney re: reassurance of corporation.

0.3

07/4/2017 Discussion with T. Montgomery re: TGF fee invoice, updating O/S fee summary

0.3

07/10/2017 Review of draft email to legal counsels re: fee estimate pot. Sales resources & treatment of fees going forward; Discussion with T. Montgomery re: same

0.5

07/12/2017 Review of TGF response to Prof. fee email 0.1

07/17/2017 Review of execution copy of MLS agree. Subs email to T. Montgomery

authorizing execution of same 0.3

07/18/2017 Review of D. Stewarts email re: fees and respond to T. Montgomery on their representing vendor; Review of D. Stewart’s response on title deed possession. Discussion with T. Montgomery re: title search and sale process

0.5

08/9/2017 Review of insurance riders. Discussion with T. Montgomery re: insurance coverage on watches

0.3

08/23/2017 Attend a Davies offices in Nassau with D. Stewart to discuss watches in their possession

1.5

08/29/2017 Draft responding email to D. Stewart regarding settlement letter to Davis and Co; Review of draft email to S. Townend regarding watches and discuss with T. Montgomery regarding realization methods, purchase info required

0.8

08/30/2017 Discussion with S. Townend re: watches and ability to store realization options; Discussion with T. Montgomery regarding info for S. Townend

0.3

09/5/2017 Various discussions with T. Montgomery re: hurricane and protection of unit. Review of emails to/from T. Montgomery and Bahamas realtor

0.3

09/12/2017 Various emails to/from D. Stewart re: letter to Davis on watches/unit sale status

0.3

09/28/2017 Review of realtor marketing report 0.1

10/2/2017 Discuss with T. Montgomery re: marketing of unit, marketing of watches 0.3

Total 16.1

Angelos Xilinas

10/3/2017 Assist T. Montgomery with customs implications of importing luxury watches into Canada and US

1.0

Total 1.0

Tim Montgomery

01/3/2017 Creditor correspondence regarding RCMP restitution order 1.2

01/4/2017 Creditor correspondence regarding RCMP restitution order 0.4

01/6/2017 Email L Roberts regarding Bahamian Condo, subsequent conference call with L Roberts and N. Brearton regarding listing the Bahamian Condo; email to D Stewart and L Roberts regarding access to the Bahamian Condo

1.3

01/9/2017 Email correspondence with Diane Stewart regarding access to the Bahamian Condo

0.3

01/12/2017 Email correspondence with Diane Stewart regarding restoring FHC International

0.4

01/17/2017 Email correspondence regarding keys and access to the Bahamian Condo 0.8

01/18/2017 Review draft Court materials regarding restoring FHC 1.7

01/20/2017 Review of updated Court materials regarding restoring FHC; discussion with Nick Brearton regarding same

1.2

01/23/2017 Email correspondence with Diane Stewart regarding tenant in the unit, who the tenant is, whether they have been paying rent and / or HOA fees

0.7

01/24/2017 Email correspondence with Diane Stewart regarding updating court materials for tenant in the unit; discussion with Nick Brearton regarding leaving tenant in place

0.6

01/25/2017 Call with Diane Stewart regarding tenant and vacant possession; update discussion with Nick Brearton

1.1

01/30/2017 Internal discussions with Nick Brearton regarding vacant possession; update email to Diane Stewart regarding vacant possession

1.2

02/1/2017 Correspondence with listing agent regarding Bahamian Condo; email correspondence with Diane Steward regarding Watches

1.4

02/7/2017 Email correspondence with Bahamas Realty regarding listing proposal and with Diane Stewart regarding filing of court documents

0.5

02/10/2017 Email correspondence with Bahamas Realty regarding listing proposal; review initial marketing information; update TGF regarding RCMP developments; update Receiver website

1.1

02/13/2017 Review Bahamas Realty listing proposal and provide comments 1.7

02/16/2017 Internal discussion with N Brearton regarding listing proposal; call with Andrea Brownrigg regarding same; draft email for Diane Stewart regarding same

2.1

02/21/2017 Call with Bahamas Realty regarding potential interested party, internal discussion regarding same

0.7

02/22/2017 Email correspondence to Diane Stewart regarding listing proposal 1.5

03/6/2017 Email correspondence regarding Court documents and filing 1.2

03/8/2017 Internal discussion with Nick Brearton regarding MLS agreement 0.6

03/13/2017 Review MLS listing terms 1.8

03/14/2017 Review MLS listing terms and compare to Prospect Ridge 1.2

03/15/2017 Internal discussion with Nick Brearton regarding MLS terms; email correspondence with Andrea Brownrigg regarding same

1.4

03/22/2017 Email correspondence with Diane Stewart regarding court materials 0.8

03/28/2017 Discussions with N. Brearton regarding Condo tenant; vacation of tenant and email correspondence with Diane Stewart and Andrea Brownrigg re: tenant and vacant possession

1.7

03/30/2017 Email correspondence with Diane Stewart and Andrea Brownrigg regarding vacant possession; possible lease agreement; court proceedings and listing agreement

2.1

04/3/2017 Review amended listing proposal; internal discussion with Nick Brearton regarding same

1.1

04/6/2017 Email correspondence with Diane Stewart regarding court hearing; email correspondence with Andrea Brownrigg regarding vacant possession

2.2

04/10/2017 Email correspondence with Diane Stewart regarding court hearing and vacant possession

1.2

04/11/2017 Conference call with Diane Stewart regarding Court hearing and vacant possession; update Andrea regarding Court hearing and discussions regarding marketing and repairs to Condo

1.4

04/12/2017 Discussions with Nick Brearton and Diane Stewart regarding court order; 1.2

04/18/2017 Update call with Andrea Brownrigg regarding listing proposal and remedial work; email correspondence regarding insurance

1.8

04/19/2017 Internal discussion regarding Canadian court recognition; update regarding listing proposal and marketing strategy

1.6

04/20/2017 Communication with current tenant regarding occupation and vacant possession

0.6

04/25/2017 Email correspondence regarding listing proposal and insurance on Bahamian

Condo 1.2

04/26/2017 Discussions with Andrea Brownrigg regarding remedial work to the Condo 0.6

04/27/2017 Further discussions with Andrea Brownrigg regarding marketing process and remedial work

0.9

04/28/2017 Internal update email regarding file status for Nick Brearton; update call with Andrea Brownrigg

1.2

05/16/2017 Follow up with Diane Stewart regarding legal fees, insurance and remedial works and funding of same

1.1

05/17/2017 Further correspondence with Diane Stewart regarding funding of costs; email Andrea Brownrigg regarding remedial work; email correspondence with current tenant regarding vacation of property and inventory list

1.3

05/19/2017 Follow up call with Andrea Brownrigg 0.4

05/23/2017 Email correspondence regarding marketing and remedial works and payment of insurance

0.7

05/24/2017 Email correspondence with current tenant regarding vacant possession and inventory list

1.2

05/30/2017 Various email correspondence with Andrea Brownrigg regarding Condo and getting it ready for sale

1.0

06/1/2017 Email correspondence regarding insurance premium 0.4

06/5/2017 Email correspondence with Andrea Brownrigg regarding staging the unit and other repairs

0.8

06/7/2017 Review quotes for staging and other repairs 1.3

06/8/2017 Email correspondence with Andrea Brownrigg regarding listing Condo for sale

0.4

06/9/2017 Various correspondence with Andrea Brownrigg regarding listing Condo for sale

1.2

06/19/2017 Various correspondence with Andrea Brownrigg regarding listing Condo for sale

0.7

06/27/2017 Email correspondence with Andrew Brownrigg regarding finalizing listing proposal

0.6

06/29/2017 Email correspondence with Andrew Brownrigg regarding finalizing listing proposal

0.7

07/4/2017 Update summary of outstanding professional fees and TGF fee invoice 1.3

07/5/2017 Preparation of outstanding fees and estimated outcome statement regarding sale of the Bahamian Condo; email summary for professional firms; internal discussion with Nick Brearton regarding same

3.8

07/6/2017 Update call with Andrea Brownrigg; review various invoices for remedial works

0.8

07/10/2017 Request payments be made for remedial works; discussion with Nick Brearton regarding estimate outcome statement and treatment of fees going forward.

1.2

07/11/2017 Internal discussion with Nick Brearton regarding fees email; update for amendments and send out

2.7

07/14/2017 Email correspondence with Andrea Brownrigg regarding listing proposal 0.8

07/17/2017 Email communication with Andrea Brownrigg regarding listing proposal and other issues at Condo; email communication with Diane Stewart regarding tittle deeds

1.8

07/18/2017 Email correspondence with Diane Stewart regarding bank draft and representing vendor; discussions with N Brearton regarding title search and sale process

0.6

07/19/2017 Email correspondence regarding conveyance 0.4

07/20/2017 Email correspondence to Diane Steward regarding fees and title searches and deeds

1.3

07/25/2017 Email correspondence regarding Bahamian Condo and marketing efforts 1.2

07/26/2017 Discussion with Diane Stewart regarding legal fees 1.6

07/27/2017 Email correspondence with Andrea Brownrigg regarding marketing process, tracking and reporting

1.4

08/1/2017 Email correspondence with Diane Stewart regarding legal fees 0.8

08/2/2017 Update call with Andrea Brownrigg regarding listing; other email correspondence

1.3

08/3/2017 Internal discussions with Nick Brearton regarding listing 1.1

08/9/2017 Review of insurance documents; internal discussion regarding insurance on Watches and subsequent query to insurers; review emails and other queries with Andrea Brownrigg

1.8

08/15/2017 Chase Andrea Brownrigg regarding updated marketing plan 0.5

08/16/2017 Correspondence with Diane Stewart regarding the Watches 0.7

08/28/2017 Chase up Andrea Brownrigg regarding marketing plan and tracker 1.1

08/29/2017 Review books and records regarding Watches; discussions with Bahamas office regarding storage of the Watches; discussions with Nick Brearton regarding realization methods

1.3

08/30/2017 Discussions with Little Switzerland regarding purchase of Watches; internal discussions regarding duty and taxes;

1.7

09/5/2017 Internal discussions and email communication with realtor regarding protective measures from hurricane

1.2

09/11/2017 Email correspondence with Andrea Brownrigg regarding hurricane, sales process and tracking

1.2

09/12/2017 Follow up with Andrea Brownrigg regarding sales process 0.5

10/2/2017 Internal discussions with Nick Brearton regarding marketing of the Bahamian Condo and the Watches; chase legal counsel; update Watches realization strategy; email correspondence with insurers regarding Watches

1.4

10/3/2017 Conversation with Angelos Xilianos regarding duty and taxes; email correspondence with Ed Fields regarding status of file

0.8

10/17/2017 Follow up on Watches realization analysis; email correspondence with Andrea Brownrigg regarding open house and interested parties

1.2

10/23/2017 Review updated Watches realization analysis and provide comments; update TGF on progress of Condo Sale

1.8

10/25/2017 Email correspondence with Andrea Brownrigg regarding sale process; discussion with Diane Stewart regarding Amarcord bank funds

1.5

11/6/2017 Email correspondence regarding legal fees; correspondence with Andrew Brownrigg regarding sale process

1.1

11/17/2017 Review update from Andrea Brownrigg regarding sale process 0.5

12/4/2017 Email correspondence with Andrea Brownrigg regarding sale process status 0.6

12/13/2017 Email correspondence with Andrea Brownrigg regarding sale process status 0.6

12/21/2017 Review and edit Watches realization strategy memo 2.8

Total 101.9

Nate Fennema

10/3/2017 Researched watch sale channels in Canada and USA, including multiple locations and venues, direct sellers vs auction houses. Email communication with Bahamian correspondents, email and phone communication with multiple vendors/auction houses to obtain a market value estimate. Call with KPMG tax to understand import duties/taxes, tax and duty calculations relating to potential costs of sale

4.8

10/4/2017 Email/phone communication with watch auction houses and direct sellers. Tax implication investigation for cross-border sales with Bahamas and USA. Tariff duties for USA import of watches research

1.65

10/5/2017 Tariff duties for USA import of watches research 0.6

10/6/2017 Watch price estimates compilation and evaluation, findings report creation 0.4

10/10/2017 Watch vendor follow up including phone calls and email communication with potential buyers in Canada and USA.

0.5

10/18/2017 Watch vendor follow up including calling vendors and emailing those spoken to already. Discussion with potential vendors regarding market value of watches, customs, shipping, and other fees.

3.2

10/19/2017 Watch vendor follow up including calling vendors and emailing those spoken to already

0.8

10/23/2017 Phone call to discuss watch sale progress and findings so far, follow up with potential vendors via email and phone.

0.8

12/19/2017 Draft Executive Summary of watch sales process and analysis performed towards each sales channel.

2.3

12/20/2017 Review and edit summary of luxury watch sales process per edits from T. Montgomery.

1.8

12/21/2017 Review edits of summary with T. Montgomery. 0.4

Total 17.25

Asya Rzhevsky


04/5/2017 Prepare Jan to Mar 2017 bank reconciliations 0.6

07/5/2017 Prepare bank reconciliations from April to June 2017 0.9

07/7/2017 Prepare requests for 3 bank drafts, email to/from RBC 0.5

07/17/2017 Prepare request for draft, email to RBC 0.4

07/18/2017 Pick up draft from RBC, prepare courier package 0.3

07/25/2017 Prepare and email to RBC draft request 0.3



10/5/2017 Prepare Sep 2017 bank reconciliations 0.4

11/13/2017 Post bank charges and interest for October 2017 0.6

Total 5.5



August 15, 2019






$ 74,669.00 CAD 88.10

$ 74,757.10 CAD

HST 9,718.42







Page 1 of 1





Name Position Rate Hours Total Fees N. Brearton Partner $ 640.00 27.30 $ 17,472.00 T. Montgomery Senior Manager $ 550.00 102.20 $ 56,210.00 N. Jahja Senior Associate $ 320.00 1.00 $ 320.00 A. Chopowick Technician $ 230.00 1.30 $ 299.00 A. Rzhevsky Technician $ 230.00 1.60 $ 368.00 Total Fees Incurred Expenses

133.40 $ 74,669.00

Type Amount Authentication of sale documents $ 88.10



$ 74,757.10 $ 9,718.42

Total $ 84,475.52



Nick Brearton

02/13/2018 Discussion with Bahamian Counsel re: status of file 0.5

02/16/2018 Discussion with T. Montgomery re: status of file; subsequent preparation of to do list

0.4

04/5/2018 Discussion with T. Montgomery re: new offer 0.2

04/12/2018 Review of T. Montgomery's email re: watch sale; Discussion with T. Montgomery and S. Townend re: sale of watches. Various discussions with T. Montgomery re: status of condo offers; Review of Andrea's analysis of offers; Discuss with T. Montgomery and Andrea re: condo offers.

1.6

04/16/2018 Draft email to D. Stewart re: offer on condo; Update and issue email 0.9

04/19/2018 Review of draft PSA. Review of Court order to determine method of conveyance. Discussion with T. Montgomery re: comments on PSA.

1.0

04/23/2018 Review of revisions to draft PSA and subsequent discussion with T. Montgomery re: comments on same

0.5

04/24/2018 Discussion with T. Montgomery re: sale of watches and Sotheby's auction proposal

0.3

05/7/2018 Review of emails re: insurance coverage/inventory of content. Review of emails to insurance policy. Email response on inventory and review of response. Discussion with T. Montgomery re: insurance contents

0.4

05/9/2018 Discussion with T. Montgomery re: purchaser's revisions to PSA 0.4

05/23/2018 Review of email from McKinney Bancroft re: insurance clause suggested by purchaser. Subsequent discussion with T. Montgomery re: same.

0.3

05/30/2018 Review of email from McKinney re: proposed wording on insurance. Discussion with T. Montgomery re: same.

0.3

06/4/2018 Sign PSA and arrange to be sent to counsel 0.2

06/21/2018 Discussion with T. Montgomery re: status of condo sale 0.2

06/26/2018 Discussion with T. Montgomery re: economics of closing, including flow of funds

0.4

07/3/2018 Various discussions and / or meetings regarding QPR review 3.0


07/12/2018 Email to J. Grout re: status of condo sale; Review of various emails re: Ocean Place 30 day period, fees of McKinney

0.2

07/18/2018 Discussion with S. Townend re: approaching John Ball on watches 4.7

07/19/2018 Various discussions with T. Montgomery re: watch disposal, email to professionals on estimated realizations.

0.3

07/20/2018 Various discussions with T. Montgomery re: Condo realization and fee recovery schedules; Discussion with Jim Grout re: fee recovery for TGF

0.8

07/23/2018 Review of draft email and schedules to professionals re: cash realizations and payout and revise same.

0.3

07/25/2018 Discussion with T. Montgomery re: condo purchaser request to occupy condo

0.2



08/9/2018 Review of McKinney Bancroft email re: purchase title query on FHC litigation. Discussion with T. Montgomery re: response. Review of T. Montgomery's email to McKinney Bancroft.

0.3

08/10/2018 Discussion with T. Montgomery re: McKinney fees on real estate transaction

0.3

08/14/2018 Discussion with T. Montgomery re: WIP account balances and recognition of income. Subsequent discussion with Jolanta and thereafter A. Gadia re: same.

0.8

08/31/2018 Review of draft affidavit re: lost deed and discussion with T. Montgomery re: comments

0.2

09/11/2018 Review of email from McKinney re: status of closing. Subsequent discussion with T. Montgomery re: follow up with McKinney

0.2

09/24/2018 Conference call with Kim (McKinney) and T. Montgomery re: status of title requisitions, conveyance documents, closing timetable.

0.4

09/26/2018 Discussion with T. Montgomery re: watches; Review of draft affidavit re: test deeds and discussion with T. Montgomery re: comments

0.2

10/9/2018 Review of various emails to/from McKinney Bancroft re: closing sale. Various discussions with N. Jahja re: emails and issues raised by same.

0.3

10/11/2018 Respond to TGF email re: status of condo sales; Review of emails re: status of closing

0.2

10/22/2018 Discussion with T. Montgomery re: process of 'apostille' the conveyance documents

0.3

10/23/2018 Attend at Notary office with T. Montgomery to execute conveyance documents for condo sale.

0.5

11/5/2018 Discussion with T. Montgomery re: status of sale. 0.2

11/6/2018 Review of Completion Scheduled re: condo sale 0.1

11/13/2018 Review of email from McKinney Bancroft re: cheque and transaction escrow. Subsequent discussion with T. Montgomery re: Ocean Club expense reconciliation.

0.2

Total 27.3

Tim Montgomery

01/3/2018 Email correspondence regarding Watches and realization methodology 0.5

01/4/2018 Update internal memo regarding Watch realization methodology and potential realizations

1.6

01/8/2018 Email correspondence with Andrea Brownrigg regarding Bahamian Condo and current status of sales process

0.8

01/29/2018 Review latest marketing update regarding sales process and respond to Andrea Brownrigg regarding call

0.7

02/1/2018 Update call with Andrea Brownrigg regarding sale process; preparation for same; update Nick Brearton regarding same

1.4

02/9/2018 Email correspondence regarding sale process and potential interested parties 1.2

02/21/2018 Email correspondence with Andrea Brownrigg regarding sale process; discuss summary regarding Watches with Nick Brearton

0.4

03/27/2018 Update call with Andrea Brownrigg regarding sale process; preparation for same; update Nick Brearton regarding same

1.2

03/29/2018 Call with Nick Brearton regarding file status; respond to potential purchaser information requests

1.6

04/3/2018 Discussions with Andrea regarding offers received to date; chase up outstanding information requests for purchasers

0.7

04/5/2018 Preparation of offer analysis for sale of the Bahamian Condo; email correspondence with Simon Townend regarding Watches; confirmation of outstanding property taxes

1.8

04/9/2018 Correspondence with creditors 0.7

04/11/2018 Call with Simon Townend regarding Watches; update call with Andrea Brownrigg regarding sale of the Condo

1.2

04/12/2018 Finalize offer analysis for sale of the Bahamian Condo and discuss with Nick Brearton; subsequent discussions with Andrea Brownrigg and Nick Brearton regarding Condo offers and MLS extension

2.1

04/13/2018 Creditor correspondence 0.3

04/16/2018 Review updated offer analysis; update estimated outcome statement and outstanding professional fees analysis

4.5

04/17/2018 Finalize updated estimated outcome statement and outstanding professional fees analysis

2.1

04/19/2018 Review of draft PSA and Court order to determine method of conveyance; discussion with Kim Rolle regarding comments

2.8

04/23/2018 Review of revisions to PSA; discussion with Kim Rolle regarding comments 0.7

04/24/2018 Discussions with Nick Brearton regarding sale of Watches and Sotheby’s auction proposal; email correspondence regarding same; creditor correspondence

1.1

04/25/2018 Final review of PSA 0.5

04/26/2018 Respond to queries from Kim Rolle regarding PSA 0.7

5/1/2018 Email correspondence regarding PSA 0.5

05/2/2018 Discussion with Andrea Brownrigg regarding inspection of Condo 0.7



05/8/2018 Email correspondence regarding insurance coverage/inventory of content; review of insurance policy; discussion with Nick Brearton regarding same; finalize estimated outcome statement analysis

3.2

05/9/2018 Discussions regarding PSA and purchasers comments with Nick Brearton; subsequent discussions with Kim Rolle regarding same

1.2

05/11/2018 Review final draft version of PSA 0.6

05/14/2018 Email correspondence with Kim Rolle regarding PSA 0.7

05/15/2018 Discussions with Nick Brearton regarding insurance; communication with Kim Rolle regarding same

1.4

05/17/2018 Email correspondence with Kim Rolle regarding finalizing PSA 0.5

05/22/2018 Email correspondence with Kim Rolle regarding finalizing PSA 0.3

05/23/2018 Call with Kim Rolle regarding insurance and final outstanding matters regarding PSA

0.7

05/24/2018 Email correspondence regarding insurance 0.3

05/25/2018 Discussions with Kim Rolle regarding finalizing PSA; creditor correspondence

1.2

05/28/2018 Email correspondence regarding insurance and final amendments to PSA 0.4

05/30/2018 Review of email from Kim Rolle regarding proposed wording on insurance; discussion with N. Brearton re: same; finalize PSA and discussions with Kim Rolle regarding vendor obligations post execution

1.4

06/4/2018 Email correspondence with Andrea Brownrigg regarding sale; arrange execution of PSA

0.7

06/7/2018 Email correspondence to Kim Roller regarding vendor obligations; discussion with Andrea Brownrigg regarding air conditioning

1.9

06/11/2018 Discussions with Kim Rolle regarding notice of sale to unit holders; review vendor obligations post-execution of PSA; creditor correspondence

1.3

06/13/2018 Discussion with insurance provider regarding sale and updating of wording on insurance documents; review of same

1.1

06/21/2018 Discussion with Nick Brearton regarding status of sale; email correspondence with Andrea Brownrigg and Kim Roller regarding same

1.2

06/22/2018 Update estimated outcome and outstanding professional fees analysis 2.7

06/26/2018 Email correspondence with Andrea Brownrigg regarding air conditioning 0.3

06/28/2018 Review of McKinney’s outstanding professional fees; review of books and records regarding taxation of professional fees

1.2

07/3/2018 Email correspondence with Andrea Brownrigg regarding sale; creditor correspondence

1.2

07/5/2018 Discussions regarding estimated outcome statement, request fee update from McKinney; discussion with RCMP regarding status of file

0.7

07/12/2018 Email correspondence regarding outstanding fees; discussions with Kim Rolle regarding Ocean Place 30 day period

0.8

07/18/2018 Email correspondence regarding Ocean Place 30 day period 0.9

07/19/2018 Update estimated outcome statement and email correspondence regarding same

1.2

07/20/2018 Discussions with Nick Brearton regarding Condo realization and fee recoveries; update analysis accordingly

1.5

07/25/2018 Discussion with to Nick Brearton regarding Condo realization; finalize schedules and send out to professionals; discussion regarding condo purchaser and occupation pre-closing

2.2

07/27/2018 Email correspondence with Kim Rolle regarding sale of Condo 0.4

08/8/2018 Discussions regarding realization of Watches and Sotheby’s 0.8

08/9/2018 Discussion with Nick Brearton regarding purchase title query on FHC litigation and response to Kim Rolle regarding same

0.7

08/10/2018 Discussion with Nick Brearton regarding McKinney fees on real estate transaction; email correspondence regarding sale of Watches

1.6

08/13/2018 Call with McKinney regarding fees; preparation for same 1.2

08/14/2018 Review of books and records regarding taxation of fees 2.6

08/20/2018 Discussions regarding closing of Bahamian Condo sale; realization of watches

1.2

08/22/2018 Preparation of summary of auction process for Watches; review of Sotheby’s auction agreement and representations and warranties

2.2

08/23/2018 Respond to Sotheby’s queries regarding Watches 0.8

08/27/2018 Discussions with Kim Rolle regarding closing of the Bahamian Condo sale 1.2

08/31/2018 Review of draft affidavit re: lost deed and discussion with Nick Brearton

regarding same 0.6

09/4/2018 Email correspondence with Kim Rolle regarding closing date 0.4



09/13/2018 Discussion with Kim Rolle regarding revised closing date for sale of Bahamian Condo and outstanding issues including title requisitions, conveyance documents and closing timetable

0.7


09/20/2018 Email correspondence with Kim Rolle regarding closing date and email correspondence with Sotheby’s regarding Watches

0.3

09/24/2018 Discussion with Kim Rolle regarding revised closing date and outstanding issues including title requisitions, conveyance documents and closing timetable; preparation for same

0.8

09/26/2018 Review of draft affidavit re: title deeds and discussion with Nick Brearton regarding same; provide comments to Kim Rolle

0.5

09/28/2018 Email correspondence with Kim Rolle regarding closing and outstanding matters

0.4

10/15/2018 Email correspondence with Sotheby’s regarding sale of watches; email correspondence with Andrea Brownrigg regarding status of sale

0.7

10/17/2018 Discussions with Kim Rolle regarding execution of documents for sale and the need for an ‘apostille’ and notary public

0.6

10/23/2018 Email correspondence regarding sale of Watches; arranging for execution of conveyance and affidavit of loss at notary public

2.7

10/24/2018 Finalize sale documents to send to Bahamas High Commission 1.4

10/26/2018 Email correspondence with Andrea Brownrigg regarding update on sale process

0.3

10/29/2018 Coordination of conveyance and affidavit of loss to be apostilled 1.4

10/31/2018 Email correspondence regarding Bahamian Condo sale and regarding Watches with Sotheby’s

0.5

11/1/2018 Discussions with Kim Rolle regarding sale documents and closing 1.2

11/5/2018 Discussions with Kim Rolle regarding sale documents and closing and

review of completion schedule; discussions with Nick Brearton regarding status of closing

1.2

11/9/2018 Email correspondence with Kim Rolle regarding closing of sale and completion statement

1.4

11/13/2018 Discussions with Kim Rolle regarding cheque and transaction escrow; subsequent discussions with Nick Brearton regarding same and Ocean Club expense reconciliation

2.1

11/14/2018 Email correspondence with Kim Rolle regarding closing statement and review of same

1.4

11/16/2018 Discussion with Kim Rolle regarding closing statement and McKinney fees 0.7

11/19/2018 Email correspondence with Kim Rolle regarding closing statement and payment of realtor fees

0.4

11/26/2018 Email correspondence with legal counsel regarding Bahamas Central Bank approval

0.6

11/27/2018 Email correspondence with legal counsel regarding Bahamas Central Bank approval

0.3

11/29/2018 Review of 12th Court report; commence drafting of 13th Court Report 1.6

12/3/2018 Email correspondence regarding closing statement; email correspondence with Sotheby’s regarding auction dates

1.3

12/10/2018 Email correspondence with professional regarding closing of the sale of the Condo and next steps

1.0

12/12/2018 Discussions with Kim Rolle regarding closing statement 1.4

Total 102.2

Nerina Jahja

10/10/2018 Communications with K. Rolle and N. Brearton regarding execution of APA.

1.0

Total 1.0

Asya Rzhevsky


04/5/2018 Email draft request to RBC, pick up draft and courier to Davis & Co in Bahamas

0.6

04/6/2018 Prepare bank reconciliations from Jan to Mar 2018 0.7

Total 1.6

Annette Chopowick

06/6/2018 Bank reconciliations to May 31, 2018. 0.5

10/24/2018 Arrange for bank drafts, attend at bank for pick up 0.5

11/13/2018 Prepare bank draft request 0.3

Total 1.3



August 15, 2019




For professional services rendered for the period January 1 to July 31, 2019 in connection with the appointment of KPMG Inc. on December 17, 2008, as Court-appointed Receiver and Manager of New Life

Our Fee $ 92,220.00 CAD

$ 92,220.00 CAD

HST 11,988.60







Page 1 of 1




For Period of January 1, 2019 to July 31, 2019

Name Position Rate Hours Total Fees N. Brearton Partner $ 640.00 20.10 $ 12,864.00 T. Montgomery Senior Manager $ 550.00 134.00 $ 73,700.00 M. Oommen Senior Associate $ 320.00 12.50 $ 4,000.00 A. Chopowick Technician $ 230.00 7.20 $ 1,656.00 Total Fees Incurred HST

173.80 $ 92,220.00 $ 11,988.60

Total $ 104,208.60


Summary of Receiver's Activities for the Period January 1 to July 31, 2019

Nick Brearton

01/9/2019 Discussion with T. Montgomery re: status of file 0.5

01/21/2019 Discussion with T. Montgomery re: outstanding issues, Sotheby auction agreement

0.4

01/25/2019 Discussion with T. Montgomery re: fee issue with McKinney 0.2

02/4/2019 Discussion with T. Montgomery re: status of fund transfer, court report, watch auction documents, and shipping of same.

0.3

02/12/2019 Discussion with T. Montgomery re: memo to professionals on fee recovery and next steps.

0.2

02/14/2019 Discussions with T. Montgomery re: call with McKinney Bancroft on fees, watch shipping

0.2

02/25/2019 Various discussions with T. Montgomery re: fees of McCarthy KPMG Nassau work on watches and prior work.

0.3

02/26/2019 Discussion with T. Montgomery re: MFE. Subsequent review and execute same

0.3

03/5/2019 Discussion with T. Montgomery re: status of file 1.0

03/11/2019 Discussion with T. Montgomery re: GST & Corp. tax returns needed to be filled.

0.3

03/12/2019 Discussion with T. Montgomery re: HST refund denial & implications for HST and corp. tax return filing

0.4

03/14/2019 Disc w. J. Grout re: status of file/fee approval 0.3

03/15/2019 Review & sign Sotheby's consignment agreement 0.2

03/20/2019 Review of draft report including reference to earlier reports. Discussion with T. Montgomery re: basis of Bahama Assets comprising estate detail on file complexities approval of actions

2.5

03/25/2019 Discussion with T. Montgomery re: Court report revisions, process to follow for fee affidavits, meeting with TGF service list

1.0

03/26/2019 Various discussion with T. Montgomery re: Court report 0.5

03/28/2019 Discussion with T. Montgomery re: Agenda for TGF meeting. Attend at TGF to meet with John F and T. Montgomery re: Discussion charge of rec and issues with same. Subsequent discussion with T. Montgomery re: next steps. Discussion with T. Montgomery re: unpaid loan

2.2

04/3/2019 Review and revise Court Report; Review and revise letter to CRA; Review and revise letter to Davis on watches; Discussions with T. Montgomery re: comments on report and letter

3.6

04/5/2019 Final review and revision to draft Court Report 1.5

05/27/2019 Discussion with T. Montgomery re: status of affidavits etc. 0.2

05/30/2019 Review of TGF revisions to draft Court Report. Review of T. Montgomery’s updates to Court Report and revise same. Discussion with T. Montgomery re: Court Report and loose ends; Filing of emails

2.0

05/31/2019 Review of fee affidavits of McCarthy, KPMG-Bahamas and McKinney; Review of Investor Loan Agreement and Rec Certificate re: Investor Loans

1.1

06/5/2019 Discussion with T. Montgomery re: impending call with Lawyers on borrowing

0.3

0.3 07/12/2019 Discussion with T. Montgomery re: call with Heather M. on investor loans

07/15/2019 Review of draft email to Investor Loan individual. Discussion with T. Montgomery re: comments on same

0.3

Total 20.1

Tim Montgomery

01/4/2019 Email correspondence with Kim Rolle regarding proof of purchaser payments regarding PSA obligations and discussions regarding status of central bank approval

0.7

01/19/2019 Email correspondence with Kim Rolle regarding central bank approval 0.5

01/21/2019 Discussions with Nick Brearton regarding outstanding issues and Sotheby auction agreement; cancellation of insurance at Condo

1.5

01/23/2019 Correspondence with Sotheby’s regarding Watch auction 0.8

01/24/2019 Research regarding transportation of Watches to Sotheby’s offices in New York; obtain quotes regarding same, discussions with Sotheby's regarding applicable duties and taxes; creditor correspondence

1.4

01/25/2019 Call with Kim Rolle and Justine Smith regarding outstanding matters and McKinney fees

1.2

01/28/2019 Discussions with Sotheby’s regarding Watches and consignment agreement 2.1

01/29/2019 Review of consignment agreement; preparation of summary; creditor correspondence

2.8

01/30/2019 Discussions with Sotheby’s regarding Watches and consignment agreement 1.5

01/31/2019 Discussions with insurers regarding premium refund; update estimated outcome statement and professional fees analysis; drafting of 13th Court report

3.7

02/5/2019 Reconciliation of McKinney’s client account; email correspondence regarding insurance premium correspondence

1.8

02/6/2019 Drafting of 13th Court report 2.3

02/7/2019 Drafting of 13th Court report and email correspondence regarding Watches 2.6

02/8/2019 Review of updated consignment agreement and email correspondence regarding shipping logistics

1.5

02/11/2019 Email correspondence regarding shipping logistics including genus and species of mother of pearl

1.2

02/12/2019 Finalize estimated outcome statement and professional fees recoveries; discussion regarding same with Nick Brearton; preparation of covering email

2.2

02/13/2019 Discussions with Justine Smith and Kim Rolle regarding central bank approval and McKinney holdback; preparation regarding same; email correspondence regarding insurance premium refund

2.4

02/14/2019 Review of outstanding professional fees for Court report purposes; discussions with Nick Brearton regarding McKinney fees and shipping logistics

1.4

02/15/2019 Review of outstanding professional fees for Court report purposes 1.7

02/19/2019 Email correspondence with KPMG Bahamas regarding shipping of Watches and their assistance; update Sotheby's on shipping logistics; email correspondence with Breitling regarding mother of pearl

1.2

02/21/2019 Email correspondence with Kim Rolle regarding central bank approval and McKinney holdback regarding fees

1.4


02/25/2019 Discussions with Nick Brearton regarding professional fees and affidavits; discussions with Nick Brearton regarding KPMG Bahamas work regarding Watches and prior involvement; drafting of 13th Court report

4.4

02/26/2019 Draft MFE; discussions with Nick Brearton regarding same; discussions with KPMG Bahamas regarding same; email correspondence with Sotheby's regarding watches;

1.3

03/4/2019 Email correspondence with KPMG Bahamas regarding Watches 0.3

03/7/2019 Discussions with Kim Rolle regarding central bank approval and outstanding matters; circulate banking details

0.5

03/11/2019 Review of books and records regarding historical correspondence with CRA regarding GST/HST and income tax

1.2

03/12/2019 Email correspondence with Kim Rolle regarding central bank approval; discussions with Nick Brearton regarding GST/HST refund denial and implications for CRA filings going forward

1.4

03/13/2019 Email correspondence regarding outstanding information for shipping of the Watches; review updated consignment agreement; renew insurance and discussions regarding Watches

2.1


03/15/2019 Email correspondence with Kim Rolle regarding central bank approval; final review of consignment agreement and discussions with Nick Brearton regarding same

0.8

03/19/2019 Drafting of 13th Court report and discussions with Nick Brearton regarding same

4.3

03/20/2019 Finalize updated insurance coverage regarding the Watches; discussion with Nick Brearton regarding Bahamian Assets, file complexities and approval of actions

0.5

03/22/2019 Email correspondence with Kim Rolle regarding central bank approval; discussions regarding shipping logistics for the Watches

0.6

03/25/2019 Preparation of R&D’s to March 25, 2019 for draft of 13th Court report; email correspondence with Kim Roll regarding funds held in McKinney client account; discussions with Nick Brearton regarding Court report revisions, process regarding fee affidavits and meeting with Canadian Counsel

4.3

03/26/2019 Finalize R&D’s to March 25, 2019; update draft of 13th Court report; various

discussions with Nick Brearton regarding same 3.2

03/27/2019 Review books and records regarding Investor Loans 2.2

03/28/2019 Attend meeting with John Finnigan regarding file status update, outstanding issues and final Court report; preparation for same; discussions with Nick Brearton regarding next steps and Investor Loans

2.3

03/29/2019 Update 13th Court report following discussions with Canadian Counsel and discussions with Nick Brearton

3.7

04/3/2019 Draft letter to CRA regarding sales tax and income tax filings; draft letter to Davis regarding realization process for Watches; discussion with Nick Brearton regarding same

2.6

04/4/2019 Update 13th Court report following discussions with Nick Brearton regarding revisions; preparation of appendixes

5.1

04/5/2019 Finalize letter to CRA regarding sales tax and income tax filings; finalize letter to Davis regarding realization process for the Watches; email correspondence regarding logistics for Watches; creditor correspondence

3.8

04/8/2019 Discussions with insurance provider regarding Watches 1.1

04/10/2019 Review quotes for shipment of Watches and discussions with Manoj Oommen regarding same; discussion with Nick Brearton regarding email from John Finnigan regarding fees

0.8

04/11/2019 Review quotes for shipment of the Watches and discussions with Manoj Oommen regarding same

0.7

04/12/2019 Discussions with Nick Brearton regarding TGF contacting Jim Grout; fee affidavits preparation to be initiated by professionals and insurance regarding Watches

1.1

04/16/2019 Review shipping agreement with Brinks for the transport of the Watches 0.8

04/17/2019 Email correspondence to the professionals regarding process for the fee affidavits

1.4

04/18/2019 Preparation of KPMG fee affidavit and review of books and records regarding time dockets prepared to date

1.2

04/23/2019 Email correspondence regarding logistics for shipment of the Watches 0.6

04/25/2019 Discussions with Sotheby’s and Brinks regarding shipment of the Watches; taxes and duties

1.2

05/2/2019 Draft and finalize letter of authorization regarding the Watches for Brinks 1.8

05/6/2019 Email correspondence regarding Watches shipment with Sotheby’s and Brinks

0.5

05/7/2019 Email correspondence regarding Watches shipment with Sotheby’s and Brinks

0.4

05/9/2019 Discussions with Puya Fesharaki regarding Investor Loans; current status of the Court report and fee affidavits

0.8

05/13/2019 Various discussions regarding Watches shipments 0.6



05/16/2019 Update Court report R&D’s to April 30, 2019; various email correspondence regarding fee affidavits

1.8

05/17/2019 Review TGF’s comments on the final Court report 0.8

05/21/2019 Email correspondence regarding Watches shipment; further review of TGF’s comments on the final Court Report

1.3

05/22/2019 Update 13th Court report following TGF comments 2.4

05/23/2019 Email correspondence with professionals regarding fee affidavits 0.5

05/24/2019 Email correspondence regarding Watches shipment; further review of TGF’s comments on the final Court Report

2.5

05/27/2019 Discussions with Nick Brearton regarding fee affidavits and Court report; correspondence regarding Watches and shipping logistics

1.2

05/28/2019 Review of fee affidavits received to date, updating of Court report and email correspondence regarding shipping logistics

2.4

05/29/2019 Email correspondence with Canadian Counsel regarding court report and Investor Loans; preparation of sales tax returns for 2015 through 2018

1.3

05/30/2019 Update to 13th Court report; discussions with Nik Brearton regarding same and outstanding matters

1.5

06/4/2019 Discussions with Nick Brearton re: call with Canadian Counsel regarding Investor Loans, fee affidavits and outstanding matters; circulate agenda for call

1.2

06/5/2019 Call with Canadian Counsel regarding Investor Loans, fee affidavits and outstanding matters; preparation for same

1.4

06/7/2019 Review of outstanding professional fees; reconciliation with fee affidavits 2.1

06/19/2019 Discussions with Nick Brearton re: status of KPMG fee affidavit and OSC discussions; email correspondence with professional regarding fee affidavits; update Canadian Counsel regarding latest report prior to meeting with OSC; email correspondence regarding Investor Loans

2.8

07/3/2019 Review of reconciliation between outstanding professional fees and fee affidavits; subsequent email correspondence with the professionals regarding the same; discussions with Nick Brearton regarding status of report, OSC discussions and input from Representative Counsel regarding Investor Loans

0.8

07/4/2019 Review of KPMG time dockets and preparation of fee affidavit 1.3

07/11/2019 Call with Canadian Counsel and Representative Counsel regarding Investor Loans; preparation regarding same; draft email to shareholders regarding Investor Loans; preparation of principal and interest calculation

1.0

07/15/2019 Discussions with Nick Brearton regarding Investor Loans and draft correspondence regarding same; update correspondence following comments and circulate

0.7

07/24/2019 Preparation of subsequent email communication for two other shareholders regarding the Investor Loans; preparation of update calculation

2.2

07/29/2019 Finalize communication to the two other shareholders regarding Investor Loans and circulate; discussions with Nick Brearton regarding Investor Loan status, fee estimate and report drafting

1.2

07/31/2019 Update 13th Court report for Investor Loan updates and discussions with CRA regarding filing of sales tax and income tax fillings; various discussions with McKinney regarding reconciliation of fee affidavit to outstanding professional fees

3.2

Total 134.0

Manoj Oommen

01/28/2019 Internal meeting regarding remaining items; reviewed file and contacted various shipping companies in order to obtain quotes.

2.5

01/29/2019 Internal meeting regarding status of shipping quotes 0.5

01/30/2019 Internal meeting regarding status of shipping quotes; followed up with shipping companies.

0.5

02/5/2019 Researched shipping companies; internal meeting regarding shipping procedures.

1.0

02/19/2019 Called FedEx to obtain shipping quote and to verify that watches would be sent via air freight.

1.0

04/10/2019 Various matters regarding shipment of watches 2.0

04/11/2019 Various matters regarding shipment of watches 1.0

04/15/2019 Drafted and sent emails to courier regarding shipment of watches 0.5

04/23/2019 Emailed shipping vendors in order to schedule a meeting to discuss shipment of watches

0.5

04/24/2019 Meeting with shipping vendors 1.0

05/1/2019 Followed up with shipping vendors 0.5

05/13/2019 Followed up with shipping companies regarding status update 0.5

05/23/2019 Followed up with shipping companies regarding status of shipment 0.5

05/24/2019 Followed up with shipping companies regarding status of shipment 0.5

Total 12.5

Annette Chopowick

01/15/2019 Attend to banking matters 0.2


02/1/2019 Attend to banking matter 0.1




03/19/2019 Attend to banking matter; attend at bank 0.3

03/21/2019 Bank reconciliations; attend to banking matters 0.8


04/4/2019 Bank reconciliation 0.8






Total 7.2

Period Total Hours Fees Disbursements HST Total Av. Hourly Rate October 1 to December 31, 2011 358.70 166,183.00 75.00 21,613.54 187,871.54 463.29 January 1 to December 31, 2012 387.20 195,267.00 43,490.50 31,038.48 269,795.98 504.31 January 1 to December 31, 2013 196.00 87,365.50 - 11,357.52 98,723.02 445.74 January 1 to December 31, 2014 215.90 107,628.00 2,756.00 14,349.92 124,733.92 498.51 January 1 to December 31, 2015 163.60 72,259.00 6,137.90 10,191.60 88,588.50 441.68 January 1 to December 31, 2016 160.10 87,727.00 - 11,404.51 99,131.51 547.95 January 1 to December 31, 2017 141.75 73,774.00 8.05 9,591.67 83,373.72 520.45 January 1 to December 31, 2018 133.40 74,669.00 88.10 9,718.42 84,475.52 559.74 January 1 to July 31, 2019 173.80 92,220.00 - 11,988.60 104,208.60 530.61 Total 1,930.45 $957,092.50 $52,555.55 $131,254.25 $1,140,902.30 495.79

New Life Capital Corp et al.Exhibit B - The Receiver's Professional Fees Summary

For Period of October 1, 2011 to July 31, 2019

Exhibit “C” - Reconciliation between Court Report and Fee Affidavit

The following tables reconcile the total professional fees outstanding between the final court report (Court File No. 08-CL-7832 – Thirteenth Report to the Court) and the fee affidavit schedule (Court File No. 07-CL-7832).

Court Report Total

Reference Amount Total Fees and Disbursements O/S prior to October 14, 2016

08-CL-7832 Par. 7.2.7 941,584

Total Fees and Disbursements O/S after October 13, 2016

08-CL-7832 Par. 7.2.9 319,955

Less: Amount paid up to June 30, 2011 ($104,520 plus 13% HST)

08-CL-7832 Par. 7.2.1 (118,108)

Net total per Court Report 1,143,431

Fee Affidavit Total

Reference Amount Total Fees and Disbursements O/S per Affidavit

07-CL-7832 1,140,902

Add: Estimated Completion Fees ($25,000 plus 13% HST)

08-CL-7832 Par. 7.2.9 28,250

Less: Fees Associated with Advantage Investor Distribution1

08-CL-7832 Par. 7.2.7 (25,721)

Net total per Affidavit 1,143,431

1 KPMG notes that the fees pertaining to the Advantage Investor Distribution were previously taxed on May 4, 2016 in the Order of the Honorable Mr. Justice Newbould