Alberta · CCAA
Brief of the Monitor
Application / notice of application · 23 May 2025
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What we verified from this filing1 verified
- recovery outcomeentries: basis: plan · quote: As such, the affected creditors - other than MCAP - benefit from the Plan's pool of funds with the Monitor estimating an average payout of 10 cents on the dollar. · pct of: unstated · outcome: distribution · pct low: 10 · pct high: 10 · class key: unsecured · stated by: monitor · class label: affected creditors - other than MCAP · interim final: unstated · cents on dollar: 10 · claims qualifier: unstated; basis: estimated · quote: BDC is left in the unenviable position of anticipating a significant shortfall after the liquidation of all remaining secured property including real estate, accounts receivable and some remaining equipment. · pct of: unstated · outcome: shortfall · class key: secured · stated by: unstated · class label: BDC · creditor name: BDC · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: Although the outcome of this process does not result in any distribution to unsecured creditors, this does not give rise to a valid reason to withhold court approval of these transactions. · pct of: unstated · outcome: nil · class key: unsecured · stated by: court · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: The amounts owed to the SSNs far exceed the contemplated distribution while the SSNs' collateral is sufficient for the SSNs' claim to be most likely paid in full; · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: monitor · class label: SSNs · creditor name: SSNs · interim final: unstated · claims qualifier: unstated · table missing: