British Columbia · Receivership (court-appointed)
Receiver’s Third Report to Court dated July 30, 2020
Court officer report · 30 July 2020
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing1 verified
- recovery outcomeentries: basis: estimated · quote: Subject to Court approval, the Receiver proposes to make an interim distribution to IA in the amount of $12,000,000 (the ' IA Distribution '). · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · amount low: 12000000 · cumulative: false · amount high: 12000000 · class label: IA · creditor name: Industrial Alliance Insurance and Financial Services Inc. · interim final: interim · conditional on: Subject to Court approval · claims qualifier: unstated; basis: estimated · quote: Given that IA, the secured creditor, will suffer a shortfall on the IA Principal Amount, the Receiver has not reviewed the claims of the unsecured creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: receiver · class label: unsecured creditors · claims amount: 6200000 · interim final: unstated · claims qualifier: listed · stated on: 2020-07-30 · table missing: