Ontario · Winding-up (WURA)
Supplemental Report
Court officer report · 17 November 2011
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What we verified from this filing7 verified
- applicantTHE ATTORNEY GENERAL OF CANADA
- appointeePricewaterhouseCoopers Inc.
- courtSUPERIOR COURT OF JUSTICE
- court file noCV-85-RE001780-0000
- appointee rolepermanent liquidator
- commencement date20 May 2010
- recovery outcomeentries: basis: unstated · quote: Policy Loss Claimants and Unearned Premium Claimants with PLI claims under $100 are to be paid 100 cents on the dollar on account of their PLI claims to September 30, 2011; · pct of: unstated · outcome: distribution · pct low: 100 · pct high: 100 · class key: unsecured · stated by: liquidator · class label: Policy Loss Claimants and Unearned Premium Claimants with PLI claims under $100 · interim final: unstated · cents on dollar: 100 · claims qualifier: unstated; basis: unstated · quote: Remaining Policy Loss Claimants are to be paid 78 cents on the dollar on a pro rata, pari passu basis on account of their PLI claims to September 30,2011;and · pct of: unstated · outcome: distribution · pct low: 78 · pct high: 78 · class key: unsecured · stated by: liquidator · class label: Remaining Policy Loss Claimants · interim final: unstated · cents on dollar: 78 · claims qualifier: unstated; basis: unstated · quote: Remaining Unearned Premium Claimants are to be paid 50 cents on the dollar on a pro rata, pari passu basis on account of their PLI claims to September 30, 2011; · pct of: unstated · outcome: distribution · pct low: 50 · pct high: 50 · class key: unsecured · stated by: liquidator · class label: Remaining Unearned Premium Claimants · interim final: unstated · cents on dollar: 50 · claims qualifier: unstated; basis: unstated · quote: The proposed distribution represents payment of about 69% of the total PLI owed to the Policy Loss Claimants and Unearned Premium Claimants and 62% of the total PLI owed to all classes of creditors (including ordinary claims) as at September 30, 2011. · pct of: unstated · outcome: distribution · pct low: 69 · pct high: 69 · class key: unsecured · stated by: liquidator · class label: Policy Loss Claimants and Unearned Premium Claimants · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: The proposed distribution represents payment of about 69% of the total PLI owed to the Policy Loss Claimants and Unearned Premium Claimants and 62% of the total PLI owed to all classes of creditors (including ordinary claims) as at September 30, 2011. · pct of: unstated · outcome: distribution · pct low: 62 · pct high: 62 · class key: unsecured · stated by: liquidator · class label: all classes of creditors (including ordinary claims) · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: first to Policy Loss Claimants to 100% of their remaining PLI claims; · pct of: unstated · outcome: distribution · pct low: 100 · pct high: 100 · class key: unsecured · stated by: liquidator · class label: Policy Loss Claimants · interim final: unstated · conditional on: Future Surplus to be distributed first to Policy Loss Claimants to 100% of remaining PLI claims · claims qualifier: unstated; basis: unstated · quote: thereafter to Unearned Premium Claimants to 100% of their remaining PLI claims; and · pct of: unstated · outcome: distribution · pct low: 100 · pct high: 100 · class key: unsecured · stated by: liquidator · class label: Unearned Premium Claimants · interim final: unstated · conditional on: Future Surplus to be distributed thereafter to Unearned Premium Claimants to 100% of remaining PLI claims · claims qualifier: unstated; basis: actual · quote: To date, this Court has approved 6 interim distributions to creditors in the total amount of approximately $191 million, paying in full the principal amount of: (a) policyholder claims; (b) the claims of ordinary creditors; and (iii) the claims of Her Majesty in respect of the industry-funded liquidation expenses, as well as interest in full on the claims of Her Majesty and a flat 5% on account of post-liquidation interest on all creditors' claims. · pct of: principal · outcome: paid_in_full · class key: unsecured · stated by: liquidator · amount low: 191000000 · cumulative: true · amount high: 191000000 · class label: policyholder claims; ordinary creditors' claims; Her Majesty's claims for industry-funded liquidation expenses · interim final: interim · claims qualifier: unstated · stated on: 2011-11-17 · table missing: