Ontario · CCAA
Forty-Fourth Report of the Monitor and Receiver, dated October 18, 2024
Court officer report · 18 October 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 filing5 verified
- cash on handnote: Opening cash position per the Carillion Cash Flow Forecast (Carillion Applicants); the Rokstad Applicants' opening cash position is separately stated as approximately $29.5 million. Appendix J shows total cash of 93,276 (thousands) for the Carillion Applicants, including cash held back for reserves and unresolved claim amounts. · as at: 2024-10-06 · amount: 93200000 · currency: CAD · qualifier: approximately
- operational summaryThe Applicants have sold all operating businesses and real estate assets and settled their affirmative construction claims. The estates are now reviewing and resolving remaining claims, making interim distributions as claims are determined, and completing financial statements and post-filing tax returns.
- recovery outcomeentries: basis: actual · quote: The Interim Distribution Order approved an Interim Distribution in an amount of approximately $112.3 million to be made to Claimants with Proven Claims of certain Applicants (the ' Distributing Applicants '), as described in the Thirty-Fourth Report and the Interim Distribution Order. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: monitor · amount low: 112300000 · amount high: 112300000 · class label: Claimants with Proven Claims of certain Applicants (Interim Distribution) · interim final: interim · claims qualifier: unstated; basis: actual · quote: As of October 15, 2024, interim distributions of approximately $13.5 million have been made to subcontractors with Proven Priority Claims to the Bremner Project Settlement Proceeds Reserve and the Niagara Project Settlement Proceeds Reserve. · pct of: unstated · outcome: distribution · class key: preferred · stated by: monitor · amount low: 13500000 · amount high: 13500000 · class label: Subcontractors with Proven Priority Claims (Bremner and Niagara Project Settlement Proceeds Reserve) · interim final: interim · claims qualifier: unstated; basis: actual · quote: During this cash flow period, the Applicants made an interim distribution of approximately $0.1 million to a holder of an unsecured Proven Claim. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: monitor · amount low: 100000 · cumulative: false · amount high: 100000 · class label: holder of an unsecured Proven Claim · interim final: interim · claims qualifier: unstated; basis: actual · quote: Further, a distribution of approximately $0.5 million was made to a subcontractor with a Proven Trust Claim against the Bremner Project. · pct of: unstated · outcome: distribution · class key: preferred · stated by: monitor · amount low: 500000 · cumulative: false · amount high: 500000 · class label: subcontractor with a Proven Trust Claim against the Bremner Project · interim final: unstated · claims qualifier: unstated; basis: actual · quote: Since August 4, 2021, the Carillion Applicants have made interim distributions totaling approximately $70.6 million. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: monitor · amount low: 70600000 · cumulative: true · amount high: 70600000 · class label: Carillion Applicants (general unsecured creditors) - cumulative interim distributions · interim final: interim · claims qualifier: unstated; basis: actual · quote: Since March 27, 2022, the Carillion Applicants have made interim distributions from the Trust Funds relating to these Proven Priority Claims, totaling approximately $13.5 million (including reimbursements to Carillion Construction for general interim distributions previously paid to the Proven Priority Claims). · pct of: unstated · outcome: distribution · class key: preferred · stated by: monitor · amount low: 13500000 · cumulative: true · amount high: 13500000 · class label: Proven Priority Claims (Trust Funds) · interim final: interim · claims qualifier: unstated; basis: estimated · quote: In addition, the forecast projects further interim distributions of approximately $1.5 million during the Cash Flow Forecast period. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: monitor · amount low: 1500000 · cumulative: false · amount high: 1500000 · class label: general unsecured creditors (forecast further interim distribution) · interim final: interim · claims qualifier: unstated · stated on: 2024-10-18 · table missing:
- report date18 October 2024
- report noForty-Fourth Report