Alberta · CCAA
28. Twenty-eighth Report of the Monitor
Court officer report · 17 March 2014
A plain-language read of this filing opens with a subscription.
What we verified from this filing5 verified
- operational summaryThe SemDebtors' plans are substantially implemented with most creditor pools fully distributed; remaining work involves resolving a large disputed claim (J. Aron), collecting outstanding SemCanada Energy accounts receivable, and determining potential withholding tax liability on distributions to Bank of America.
- professional feesnote: Multiple pools reported separate professional fees: SemCAMS Secured $21,437; SCC Ordinary $638,799; SCC Secured $16,198; SCE Ordinary $312,426; SCE Secured $173,469; Agent's legal fees $540,782 and Agent's Fees $169,290 in accounts receivable collection. · party: SemDebtors' legal counsel, the Monitor and the Monitor's legal counsel (SemCAMS Ordinary Creditors' Pool) · amount: 108372 · period: December 1, 2009 to March 12, 2014 · currency: CAD
- recovery outcomeentries: basis: plan · quote: SemCAMS Ordinary Creditors received cash distributions of 4% of the amount of their proven claim against SemCAMS. · pct of: proven_claims · outcome: distribution · pct low: 4 · pct high: 4 · class key: unsecured · stated by: monitor · class label: SemCAMS Ordinary Creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: SCC Ordinary Creditors have received cash distributions of 4% of the amount of their proven claim against SemCanada Crude. · pct of: proven_claims · outcome: distribution · pct low: 4 · pct high: 4 · class key: unsecured · stated by: monitor · class label: SCC Ordinary Creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: All SCC Secured Creditors with proven secured claims have received distribution in accordance with the SemCanada Crude Plan and there are no further unresolved SCC Secured Claims filed in the Claims Process. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: monitor · class label: SCC Secured Creditors · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: The maximum distribution to J. Aron from the SCC Ordinary Creditors' Pool cannot exceed $664,597 (4% distribution on the maximum possible claim of J. Aron of $16,614,937), and the current balance in the SCC Ordinary Creditors' Pool of $906,989 is sufficient to pay make such a distribution. · pct of: unstated · outcome: distribution · pct low: 4 · pct high: 4 · class key: unsecured · stated by: monitor · amount high: 664597 · class label: J. Aron Claim (SCC Ordinary Creditors' Pool) · claims amount: 16614937 · creditor name: J. Aron & Company · interim final: unstated · claims qualifier: asserted · stated on: 2014-03-17 · table missing:
- report date17 March 2014
- report noTwenty Eighth Report