Ontario · Receivership (court-appointed)
Sixth Report of the Receiver dated March 18, 2021
Court officer report · 18 March 2021
A plain-language read of this filing opens with a subscription.
What we verified from this filing1 verified
- recovery outcomeentries: basis: estimated · quote: Given the conflicting documentation as to the beneficial owner of the Edge Geothermal Assets, the Court Officer recommends admitting a claim for ETPI equal to the value attributed to the system by Enwave ($9.574 million), less a cost allocation of $547,188 9 , for a net distribution to ETPI of $9,026,811. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: monitor · amount low: 9026811 · amount high: 9026811 · class label: ETPI claim (Edge Geothermal Assets) · creditor name: ETPI · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: Subject to Court approval, the remaining balance will be paid to Edge Residential Inc. in respect of the claim it filed ($288,000) and to UCI (approximately $1.8 million) by way of repayment of the debt owing to it ($22,000) and the balance by intercorporate dividend to UCI (via UPHI) 10 . · pct of: unstated · outcome: distribution · class key: unsecured · stated by: monitor · amount low: 288000 · amount high: 288000 · class label: Edge Residential Inc. claim · creditor name: Edge Residential Inc. · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: all admitted claims totaling $5,086,000 are paid in full. · pct of: unstated · outcome: paid_in_full · stated by: monitor · amount low: 5086000 · amount high: 5086000 · class label: all admitted claims (Bridge Geothermal Assets distribution) · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: the balance of funds available for distribution, being $2,688,000, will be paid by intercorporate dividend to UCI via UPHI; · pct of: unstated · outcome: distribution · class key: equity · stated by: monitor · amount low: 2688000 · amount high: 2688000 · class label: UCI (intercorporate dividend via UPHI, Bridge Geothermal Assets) · creditor name: UCI · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: The Monitor intends to distribute all funds available from the sale of the Fuzion Geothermal System ($2,675,000) to UCI. · pct of: unstated · outcome: distribution · class key: equity · stated by: monitor · amount low: 2675000 · amount high: 2675000 · class label: UCI (Fuzion Geothermal System sale proceeds) · creditor name: UCI · interim final: unstated · claims qualifier: unstated · stated on: 2021-03-18 · table missing: