Alberta · CCAA
2020 Annual Report for Walton Asset Management GP Ltd
Court officer report · 31 May 2021
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
- cash on handnote: Ending cash balance per Statement of Receipts and Disbursements, stated in $CAD '000s as 392 · as at: 2020-12-31 · amount: 392000 · currency: CAD
- disbursementsnote: Total disbursements for the Reporting Period (distribution to unsecured creditors $2,898K plus CCAA professional fees $24K), stated in $CAD '000s as (2,922). This is a period figure, not a since-filing cumulative figure. · since: January 1, 2020 (the 12-month Reporting Period only; not cumulative since the April 28, 2017 filing) · amount: 2922000 · currency: CAD
- operational summaryWAM GP no longer has any business, employees or revenue; its remaining assets are management-fee receivables from other Walton Group members, which the Monitor is collecting and distributing to proven unsecured creditors.
- professional feesnote: CCAA professional fees disbursed in the Reporting Period, stated in $CAD '000s as 24; the report does not state whether tax is excluded · party: WAM GP's legal counsel, the Monitor and the Monitor's legal counsel · amount: 24000 · period: January 1, 2020 to December 31, 2020 · currency: CAD
- receipts cumulativenote: Total receipts for the Reporting Period (collections of accounts receivable $3,099K plus interest income $5K), stated in $CAD '000s as 3,104. This is a period figure, not a since-filing cumulative figure. · since: January 1, 2020 (the 12-month Reporting Period only; not cumulative since the April 28, 2017 filing) · amount: 3104000 · currency: CAD
- recovery outcomeentries: basis: actual · quote: In 2020, the Monitor on behalf of WAM GP made a first distribution to the proven unsecured creditors of WAM GP in the amount of $2.9 million. · pct of: unstated · outcome: distribution · currency: CAD · class key: unsecured · stated by: monitor · amount low: 2900000 · cumulative: false · amount high: 2900000 · class label: proven unsecured creditors · interim final: interim · currency quote: in Canadian currency · claims qualifier: unstated; basis: unstated · quote: As at the date of this WAM GP 2020 Annual Report, the Monitor on behalf of WAM GP has elected to undertake a second distribution to the proven unsecured creditors of WAM GP, in the amount of $3.1 million (the ' Second Distribution '). · pct of: unstated · outcome: distribution · currency: CAD · class key: unsecured · stated by: monitor · amount low: 3100000 · cumulative: false · amount high: 3100000 · class label: proven unsecured creditors · interim final: interim · currency quote: in Canadian currency · claims qualifier: unstated; basis: unstated · quote: Based on the Monitor maintaining an Administrative Reserve of $340,000, and after issuing the Second Distribution, WAM GP currently does not have sufficient funds to make a distribution to its creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: monitor · class label: unsecured creditors with proven claims · interim final: unstated · conditional on: after issuing the Second Distribution and maintaining the Administrative Reserve · claims qualifier: unstated · stated on: 2021-05-31 · table missing:
- report date31 May 2021