Alberta · CCAA
8. Confidential Eighth Report of the Monitor
Court officer report · 26 May 2009
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 filing7 verified · 1 withheld
- operational summaryThe Monitor reports on the sale process for the Dokie wind energy project, recommending court approval of an asset purchase agreement with GE Energy Financial Services under which the purchaser would complete construction of the Dokie Project, assume certain liabilities, and provide significantly greater recoveries to unsecured creditors than a liquidation scenario.
- process resultsbids: 16 · ndas: 66 · note: 254 interested parties contacted resulting in 66 confidentiality agreements signed; 3 bids on Dokie Project, 5 bids on non-Dokie assets, 8 offers on Turbines · solicited: 254
- purchaserprice: note: Purchaser to assume certain obligations, satisfy WestLB indebtedness, and replace letters of credit; net proceeds include approximately $10.8 million in funds on deposit supporting a letter of credit · basis: mixed · sealed: true · currency: CAD · scope: all the assets associated with the Dokie Project · status: proposed · name note: referred to only as 'the Purchaser' under the sealed Dokie APA · structure: assets · name source: recital · relationship: unstated
- recovery outcomeentries: basis: plan · quote: | Recovery % to unsecured creditors | (i) | 85.4% | 0% to 35% | 0.0% | · pct of: unstated · outcome: distribution · pct low: 85.4 · pct high: 85.4 · class key: unsecured · stated by: monitor · class label: Unsecured creditors · claims amount: 26000000 · interim final: unstated · claims qualifier: estimated; basis: liquidation_alternative · quote: | Recovery % to unsecured creditors | (i) | 85.4% | 0% to 35% | 0.0% | · pct of: unstated · outcome: distribution · pct low: 0 · pct high: 35 · class key: unsecured · stated by: monitor · class label: Unsecured creditors (High Liquidation Scenario) · claims amount: 35000000 · interim final: unstated · claims qualifier: estimated; basis: liquidation_alternative · quote: | Recovery % to unsecured creditors | (i) | 85.4% | 0% to 35% | 0.0% | · pct of: unstated · outcome: nil · class key: unsecured · stated by: monitor · class label: Unsecured creditors (Low Liquidation Scenario) · claims amount: 38000000 · interim final: unstated · claims qualifier: estimated; basis: unstated · quote: unsecured creditors could receive a recovery in the range of 85% of their respective claim, which is significantly greater than under the liquidation scenarios. · pct of: unstated · outcome: distribution · pct low: 85 · pct high: 85 · class key: unsecured · stated by: monitor · class label: Unsecured creditors · interim final: unstated · claims qualifier: unstated · stated on: 2009-05-26 · table missing:
- report date26 May 2009
- report noEighth Report
- sale advisorBlair Franklin Capital Partners Inc.; GMP Securities L.P.; Marathon Capital LLC
1 extracted value is withheld: either a trap-shaped field where models produce confident wrong numbers, or an identity value whose quotation could not be found in the document. Withheld values are shown to no one.