Ontario · Foreign recognition (CCAA)
First Report of the Information Officer dated January 18, 2016
Court officer report · 18 January 2016
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What we verified from this filing3 verified
- financial positionnote: Figures are approximate as stated ('approximately $7.9 billion and $26.6 billion'). · page: 5 · as at: 2015-06-30 · basis: audited interim financial statements, converted using CAD/ISK selling exchange rate per Central Bank of Iceland published rates on June 30, 2015 · scope: Kaupthing ehf (entity level, per audited interim financial statements) · currency: CAD · total assets: 7900000000 · total liabilities: 26600000000
- unsecured creditorsnote: Document names no individual creditors; figure is approximate ('approximately $113 million'). · page: 6 · as of: 2015-10-28 · basis: reported by Information Officer, approximately 0.43% of Company's total outstanding general unsecured claims · amount: 113000000 · debtor: Kaupthing ehf · creditor: Canadian Creditors (aggregate, 31 general unsecured creditors) · currency: CAD
- recovery outcomeentries: basis: plan · quote: general unsecured creditors (including the Canadian Creditors) whose unsecured claims do not exceed 4,600,000 Icelandic Krona ('ISK') (approximately $46,000 4 ) are entitled to receive, in full satisfaction of such claims, a cash payment equal to the amount of their unsecured claims, converted into Euros using the selling exchange rate of the Central Bank of Iceland as at the date of distribution, unless the relevant Composition Creditor elects to receive such cash payment in ISK; and · pct of: unstated · outcome: paid_in_full · class key: unsecured · stated by: unstated · class label: General unsecured creditors (claims not exceeding ISK 4,600,000) · interim final: unstated · claims qualifier: unstated; basis: plan · quote: The value of the combined consideration referred to in paragraph 3 above represents a payment to each Composition Creditor of 30% of its total unsecured claims against the Company. · pct of: unstated · outcome: distribution · pct low: 30 · pct high: 30 · class key: unsecured · stated by: unstated · class label: Unsecured creditors with claims greater than ISK 15,333,332 · interim final: unstated · conditional on: a cash payment of ISK 4,600,000; an ISK-denominated cash payment converted into Euros; convertible notes denominated in British Pounds; and ordinary shares in the Company · claims qualifier: unstated · table missing: