This is a forwarded message
From: "Ken Tessis"
To: rghall@canlighthall.com
Received: 3/5/2010 6:22:56 PM
Subject: Breckenridge
Hi Richard-
First Thank you for the comprehensive cash flow projections
1. Cash flow
As discussed the more information you have re the expected sales price amounts - and timing of sales (and related vacancies etc to “support” the cash flow projections, will be needed, along with any other operational or related information re cash flow and any of the assumptions. All this information must be available as it will be of great assistance when we meet with Equitable and or any other possible interim financer.
2. Rent Collections – March 2010- and bank balances
Who collected or is collecting it and whose bank account is it going into ?
How much is currently on hand (in the bank) for each group
We should not be making any payments or issuing any cheques 9and stop any that are outstanding ) until we see where this is all going
3. Creditors etc
What is the status of the utilities etc (listed in Evelyn’s email to you earlier today? (please add any that you are aware of tho the list) as if they are owed monies as at the NOI date they are to be listed and they are stayed to do anything – but we would need new service & they could ask for a deposit
We can consider a few alternatives
i. – stop paying all - for if Equitable collected rent – let them pay all amounts
ii. – stop paying all and request new accounts for each “company” (for their units ) 9and as noted they may ask for a new deposit) and deal with them that way 3
iii. – stop paying and wait to see what Equitable does ?
Regards and have a great weekend
_______________________________________
Kenneth M. Tessis CA•CIRP
Soberman Inc.
Trustees and Receivers
2 St. Clair Ave. East, 10th floor, Toronto On M4T 2T5
Phone : 416-963-7120
Toll Free 1-877-929-2501 X 7120
Fax : 416-929-2555
Email :ktessis@soberman.com
www.soberman.com
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