Alberta · CCAA
Monitor’s Seventh Report
Court officer report · 18 November 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 filing5 verified
- closing confirmedscope: Prolift Transaction · outcome: completed · effective: 2020-11-06 · purchaser: Prolift · date basis: stated; scope: Wolverine Transaction · outcome: not_completed · purchaser: Wolverine Energy and Infrastructure Inc. · date basis: unstated
- purchaserLaPrairie Crane Ltd.; Wolverine Energy and Infrastructure Inc.; TBK Bank, SSB; Prolift
- recovery outcomeentries: basis: estimated · quote: Due to the limited remaining assets and the balance outstanding and owing to the Syndicate, it is unlikely that there will be any recovery or distribution to unsecured creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: monitor · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: The Syndicate, which stands to suffer a substantial shortfall on its debt owed by the Applicants, supports the expansion of the Monitor's powers pursuant to the proposed CCAA Termination Order. · pct of: unstated · outcome: shortfall · class key: secured · stated by: monitor · class label: the Syndicate · creditor name: the Syndicate · interim final: unstated · claims qualifier: unstated · stated on: 2020-11-18 · table missing:
- sale advisorRitchie Bros. Auctioneers (Canada) Ltd.
- sale outcometext: Substantially all of the Applicants' assets have been sold; the Prolift Transaction closed November 6, 2020 and the Wolverine Transaction was terminated. · scope: whole_business · status: closed