Alberta · CCAA
Monitor's Thirtieth Report
Court officer report · 4 July 2017
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: District: $1,925,953 held by the District plus $2,343,537 held in trust by legal counsel, before restructuring holdback ($800,000) and unpaid minor, estate and non-resident claims ($334,855); net $3,134,635. DIL separately holds $2,039,121 ($224,056 held by DIL plus $1,815,065 in trust), net $1,639,121 after a $400,000 restructuring holdback. As-at date not stated. · amount: 4269490 · currency: CAD · qualifier: approximately $4.3 million held by the District and its counsel
- operational summaryThe District and DIL are continuing to realize on remaining Non-Core Assets (Canmore, Foothills and Kelowna properties, SVM loan, Parsonage Lot) while operations were transferred to NewCo (Sage) effective October 31, 2016. The Monitor expects asset realization within six to twelve months, plans a Certificate of Completion for EMSS, and supports the proposed LCC settlement and continuation of the Stay.
- recovery outcomeentries: basis: actual · quote: Approximately 1,654 Eligible Affected Creditors were paid in full by the Convenience Payments. · pct of: unstated · outcome: paid_in_full · currency: CAD · class key: unsecured · stated by: monitor · class label: Eligible Affected Creditors (Convenience Payments) · interim final: unstated · currency quote: All amounts included herein are in Canadian dollars unless otherwise stated. · claims qualifier: unstated; basis: actual · quote: Pursuant to the Initial Cash Distributions and taking into account payments made pursuant to the Emergency Fund, Remaining Affected Creditors have received distributions totalling approximately 12% of their proven claims after deducting the Convenience Payments. · pct of: proven_claims · outcome: distribution · pct low: 12 · currency: CAD · pct high: 12 · class key: unsecured · stated by: monitor · cumulative: true · class label: Remaining Affected Creditors · interim final: unstated · currency quote: All amounts included herein are in Canadian dollars unless otherwise stated. · claims qualifier: unstated; basis: actual · quote: DIL Depositors have received distributions totalling approximately 61% of their original investments as recorded in DIL's books and records on the Filing Date. · pct of: unstated · outcome: distribution · pct low: 61 · currency: CAD · pct high: 61 · class key: unsecured · stated by: monitor · cumulative: true · class label: DIL Depositors · interim final: unstated · currency quote: All amounts included herein are in Canadian dollars unless otherwise stated. · claims qualifier: unstated · stated on: 2017-07-04 · table missing:
- report date4 July 2017
- report noThirtieth Report