Alberta · CCAA
Monitor's First Report to the Creditors of District
Court officer report · 28 March 2016
What we verified from this filing1 verified
- recovery outcomeentries: basis: plan · quote: Based on the known claims of the Eligible Affected Creditors, this will result in 1,640 District Depositors (approximately 62% of all District Depositors) and 10 Trades (approximately 77% of all Trades) being paid in full. · pct of: unstated · outcome: paid_in_full · class key: unsecured · stated by: monitor · class label: District Depositors (claims up to $5,000) · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Based on the known claims of the Eligible Affected Creditors, this will result in 1,640 District Depositors (approximately 62% of all District Depositors) and 10 Trades (approximately 77% of all Trades) being paid in full. · pct of: unstated · outcome: paid_in_full · class key: unsecured · stated by: monitor · class label: Trades · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: Based on the actual net sale proceeds of those Non-Core Assets for which sales have already been completed, and the estimated net realizations for the remaining Non-Core Assets, the Monitor currently estimates that Eligible Affected Creditors who are not paid in full by the Convenience Payments would receive cash distributions of between approximately 15% and 20% of their remaining proven claims, after deducting the Convenience Payments. · pct of: proven_claims · outcome: distribution · pct low: 15 · pct high: 20 · class key: unsecured · stated by: monitor · class label: Eligible Affected Creditors (Cash Distribution from Non-Core Assets) · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: The Monitor currently estimates that Eligible Affected Creditors will receive NewCo Shares valued at between 53% and 60% of their remaining proven claims, after deducting the Convenience Payments; however, this estimate may vary based on the results of the Third Party Report and this variance may be material. · pct of: proven_claims · outcome: distribution · pct low: 53 · pct high: 60 · class key: unsecured · stated by: monitor · class label: Eligible Affected Creditors (NewCo Shares distribution) · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: The payments in 24.2 and 24.3 are anticipated to provide Eligible Affected Creditors, who are not paid in full by the Convenience Payments, with estimated distributions valued at between 68% and 80% of their remaining proven claims, after deducting the Convenience Payments. · pct of: proven_claims · outcome: distribution · pct low: 68 · pct high: 80 · class key: unsecured · stated by: monitor · class label: Eligible Affected Creditors (combined Cash and Share Distributions, not paid in full by Convenience Payments) · interim final: unstated · claims qualifier: unstated · stated on: 2016-03-28 · table missing: