Ontario · CCAA
Sixth Report of the CCAA Monitor dated September 11, 2024
Court officer report · 11 September 2024
Also filed as: Second Report of the Receiver dated September 11, 2024
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 filing2 verified
- fee scheduleengagements: form: report_table · rows: · money: approximate: false · period: kind: unstated · approval: state: unstated · averages: rate: 569.53 · quote: The average hourly rates for KSV and NRF for the referenced billing periods were $569.53 and $675.80, respectively. · scope: KSV · currency: · invoices: · firm text: KSV Restructuring Inc. · firm quote: KSV Restructuring Inc. as Monitor · context quote: As reflected on Exhibit 'B', the Receiver's and Monitor's average hourly rate for the Period was $569.53.; form: report_table · rows: · money: approximate: false · period: kind: unstated · approval: state: unstated · averages: rate: 675.8 · quote: The average hourly rates for KSV and NRF for the referenced billing periods were $569.53 and $675.80, respectively. · scope: NRF · currency: · invoices: · firm text: NRF · firm quote: NRF · context unverified: true; form: report_table · rows: · money: approximate: false · period: kind: unstated · approval: state: unstated · averages: rate: 524.68 · quote: The average hourly rates for KSV and NRF for the referenced billing periods were $524.68 and $737.61, respectively. · scope: KSV · currency: · invoices: · firm text: KSV Restructuring Inc. · firm quote: KSV Restructuring Inc. as Monitor · context unverified: true; form: report_table · rows: · money: approximate: false · period: kind: unstated · approval: state: unstated · averages: rate: 737.61 · quote: The average hourly rates for KSV and NRF for the referenced billing periods were $524.68 and $737.61, respectively. · scope: NRF · currency: · invoices: · firm text: NRF · firm quote: NRF · context unverified: true
- recovery outcomeentries: basis: estimated · quote: Given the value of Macquarie's secured claim, there would be no funds available for distribution to any of the Validus Entities' creditors subordinate to Macquarie under any other realization scenario. · pct of: unstated · outcome: nil · class key: unsecured · stated by: monitor · class label: Validus Entities' creditors subordinate to Macquarie · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: In other words, there would be no funds available for distribution to these creditors under any circumstance based on the economics of the Transaction and lack of viable alternatives, as outlined above. · pct of: unstated · outcome: nil · class key: unsecured · stated by: monitor · class label: creditors of ResidualCo (liabilities transferred to ResidualCo, all unsecured) · interim final: unstated · claims qualifier: unstated · stated on: 2024-09-11 · table missing: