Ontario · CCAA
Seventh Report of the Information Officer
Court officer report · 3 December 2024
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What we verified from this filing7 verified
- cash on handnote: Debtors have paid off all pre-petition secured funded debt and post-petition DIP financing · amount: 350000000 · currency: USD · qualifier: approximately
- fee scheduleengagements: form: prose · rows: · money: approximate: false · period: kind: unstated · approval: quote: approving the fees and disbursements of the Information Officer and its legal counsel, Cassels Brock & Blackwell LLP, details of which are included herein · state: sought · averages: · currency: · invoices: · firm text: Alvarez & Marsal Canada Inc. · firm quote: appointed Alvarez & Marsal Canada Inc. (' A&M Canada ') as the information officer · context quote: approving the fees and disbursements of the Information Officer and its legal counsel, Cassels Brock & Blackwell LLP, details of which are included herein; form: prose · rows: · money: approximate: false · period: kind: unstated · approval: quote: approving the fees and disbursements of the Information Officer and its legal counsel, Cassels Brock & Blackwell LLP, details of which are included herein · state: sought · averages: rate: 726.34 · quote: The average hourly rate charged by Cassels was $726.34. · currency: · invoices: · firm text: Cassels Brock & Blackwell LLP · firm quote: its legal counsel, Cassels Brock & Blackwell LLP · context quote: approving the fees and disbursements of the Information Officer and its legal counsel, Cassels Brock & Blackwell LLP, details of which are included herein
- operational summaryThe Canadian Debtors are winding down operations, continuing to market remaining real property and rolling stock assets for sale, and are subject to a proposed Chapter 11 liquidating plan; only two non-unionized employees remain to assist with wind-down efforts.
- professional feesnote: Comprised of fees of CAD$478,686.50, disbursements of CAD$14,639.12, and HST of CAD$64,132.33. Cassels Brock & Blackwell LLP (legal counsel) fees for July 1, 2023 to September 30, 2024 totaled CAD$591,328.70 (fees $509,821.50, HST $67,880.25, disbursements $13,626.95). · party: Alvarez & Marsal Canada Inc. (Information Officer) · amount: 557457.95 · period: August 7, 2023 to October 19, 2024 · currency: CAD
- recovery outcomeentries: basis: plan · quote: Under the Plan, if approved by creditors, confirmed by the U.S. Bankruptcy Court and implemented, each allowed Other Priority Claim will be satisfied in full, in cash, or otherwise receive treatment consistent with the U.S. Bankruptcy Code, and those claimants are presumed to accept the Plan. · pct of: allowed_claims · outcome: paid_in_full · pct low: 100 · pct high: 100 · class key: preferred · stated by: unstated · class label: Other Priority Claims (Class 3) · interim final: unstated · conditional on: if approved by creditors, confirmed by the U.S. Bankruptcy Court and implemented · claims qualifier: unstated; basis: estimated · quote: YRC Freight Canada's estimated recovery percentage ranges from 0%-0.9%, while there are no projected recoveries for creditors of YRC Logistics Inc., USF Holland International Sales Corporation and 1105481 Ontario Inc., if any, as those entities do not have any assets or operations. · pct of: unstated · outcome: distribution · pct low: 0 · pct high: 0.9 · stated by: unstated · class label: YRC Freight Canada creditors · creditor name: YRC Freight Canada · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: YRC Freight Canada's estimated recovery percentage ranges from 0%-0.9%, while there are no projected recoveries for creditors of YRC Logistics Inc., USF Holland International Sales Corporation and 1105481 Ontario Inc., if any, as those entities do not have any assets or operations. · pct of: unstated · outcome: nil · stated by: unstated · class label: YRC Logistics Inc., USF Holland International Sales Corporation and 1105481 Ontario Inc. creditors · interim final: unstated · conditional on: those entities do not have any assets or operations · claims qualifier: unstated · table missing: The table below summarizes the classes, treatment of Claims and Interest under each class and the projected recoveries under the Plan: 3
- report date3 December 2024
- report noSeventh Report