Ontario · Receivership (court-appointed)
Fourth Report of the Receiver
Court officer report · 29 September 2021
A plain-language read of this filing opens with a subscription.
What we verified from this filing1 verified
- recovery outcomeentries: basis: estimated · quote: The Receiver's current estimate is that, before potential recoveries from the legal claims, the Senior Lenders will suffer a shortfall in excess of US$100 million. · pct of: unstated · outcome: shortfall · currency: USD · class key: secured · stated by: receiver · class label: Senior Lenders · creditor name: Senior Lenders · interim final: unstated · conditional on: unless net proceeds in excess of US$100 million are realized from the potential legal claims · currency quote: US$100 million · claims qualifier: unstated · shortfall amount: 100000000; basis: unstated · quote: Furthermore, they have no economic interest in the Receivership unless net proceeds well in excess of US$100 million (i.e. sufficient to repay in full all secured and unsecured claims against KMG) are realized from the potential legal claims described above. · pct of: unstated · outcome: nil · currency: USD · class key: equity · stated by: receiver · class label: Class members (equity claimants) · interim final: unstated · conditional on: unless net proceeds well in excess of US$100 million are realized from the potential legal claims · currency quote: US$100 million · claims qualifier: unstated · stated on: 2021-09-29 · table missing: