Manitoba · Receivership (court-appointed)
Receiver's Report 17
Court officer report · 12 May 2016
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What we verified from this filing2 verified
- fee scheduleengagements: form: level_summary · rows: quote: Technician | 76 $ | 75 · title: Technician · row kind: level · rate kind: average · rate label: As Taxed 2005 to 2012 · name as stated: Technician; rate: 156 · quote: Staff Accountant | 156 · title: Staff Accountant · row kind: level · rate kind: average · rate label: As Taxed 2005 to 2012 · name as stated: Staff Accountant; rate: 183 · quote: Staff Accountant | 156 | 183 · title: Staff Accountant · row kind: level · rate kind: average · rate label: Post 2012 · name as stated: Staff Accountant; rate: 189 · quote: 189 · title: Staff Accountant · row kind: level · rate kind: average · rate label: 2013 · name as stated: Staff Accountant; rate: 198 · quote: 198 · title: Staff Accountant · row kind: level · rate kind: average · rate label: 2014 · name as stated: Staff Accountant; rate: 188 · quote: 188 · title: Staff Accountant · row kind: level · rate kind: average · rate label: 2015 · name as stated: Staff Accountant; rate: 210 · quote: 210 · title: Staff Accountant · row kind: level · rate kind: average · rate label: 2016 · name as stated: Staff Accountant; rate: 240 · quote: Manager | 240 · title: Manager · row kind: level · rate kind: average · rate label: As Taxed 2005 to 2012 · name as stated: Manager; rate: 275 · quote: Manager | 240 | 275 · title: Manager · row kind: level · rate kind: average · rate label: Post 2012 · name as stated: Manager; rate: 387 · quote: Senior Manager | 387 · title: Senior Manager · row kind: level · rate kind: average · rate label: As Taxed 2005 to 2012 · name as stated: Senior Manager; rate: 370 · quote: Senior Manager | 387 | 370 · title: Senior Manager · row kind: level · rate kind: average · rate label: Post 2012 · name as stated: Senior Manager; rate: 386 · quote: 386 · title: Senior Manager · row kind: level · rate kind: average · rate label: 2014 · name as stated: Senior Manager; rate: 379 · quote: 379 · title: Senior Manager · row kind: level · rate kind: average · rate label: 2015 · name as stated: Senior Manager; rate: 493 · quote: Associate Partner / Partner | 493 · title: Associate Partner / Partner · row kind: level · rate kind: average · rate label: As Taxed 2005 to 2012 · name as stated: Associate Partner / Partner; rate: 494 · quote: Associate Partner / Partner | 493 | 494 · title: Associate Partner / Partner · row kind: level · rate kind: average · rate label: Post 2012 · name as stated: Associate Partner / Partner; rate: 495 · quote: 495 · title: Associate Partner / Partner · row kind: level · rate kind: average · rate label: 2014 · name as stated: Associate Partner / Partner; rate: 442 · quote: 442 · title: Associate Partner / Partner · row kind: level · rate kind: average · rate label: 2015 · name as stated: Associate Partner / Partner; rate: 486 · quote: 486 · title: Associate Partner / Partner · row kind: level · rate kind: average · rate label: 2016 · name as stated: Associate Partner / Partner; hours: 17220.7 · quote: Staff Accountant | 12,516.5 | 1,152.6 | 937.2 | 1,124.4 | 1,249.8 | 240.2 | 4,704.2 | 17,220.7 · row kind: subtotal · rate kind: standard · name as stated: Staff Accountant; hours: 1905.6 · quote: Manager | 1,373.7 | 85.7 | 80.8 | 120.5 | 237.1 | 7.8 | 531.9 | 1,905.6 · row kind: subtotal · rate kind: standard · name as stated: Manager; hours: 5323.4 · quote: Senior Manager | 4,762.9 | 128.6 | 99.6 | 149.7 | 182.6 | - | 560.5 | 5,323.4 · row kind: subtotal · rate kind: standard · name as stated: Senior Manager; hours: 6860.4 · quote: Associate Partner / Partner | 6,005.8 | 297.1 | 196.2 | 199.7 | 44.0 | 117.6 | 854.6 | 6,860.4 · row kind: subtotal · rate kind: standard · name as stated: Associate Partner / Partner; hours: 31911.5 · quote: Total | 25,256.4 | 1,664.9 | 1,314.2 | 1,595.4 | 1,715.0 | 365.6 | 6,655.1 | 31,911.5 · row kind: subtotal · rate kind: standard · name as stated: Total · money: fees: quote: The fees of the Receiver from April 1, 2012 to March 31, 2016 total approximately $1.7 million excluding Goods and Service Tax. · amount: 1700000 · approximate: true · period: end: 2016-03-31 · kind: interim · quote: for the period from April 1, 2012 to March 31, 2016 · start: 2012-04-01 · approval: quote: The purpose of this report ('Report') is to support a motion seeking approval of the Receiver's Fees and Disbursements and those of its counsel for the period from April 1, 2012 to March 31, 2016. · state: sought · averages: · currency: · invoices: · firm text: Deloitte Restructuring Inc. · firm quote: appointing Deloitte Restructuring Inc. (formerly Deloitte & Touche Inc. hereafter referred to as 'Deloitte' or the 'Receiver') · hours total: quote: Total | 25,256.4 | 1,664.9 | 1,314.2 | 1,595.4 | 1,715.0 | 365.6 | 6,655.1 | 31,911.5 · value: 31911.5 · context quote: The purpose of this report ('Report') is to support a motion seeking approval of the Receiver's Fees and Disbursements and those of its counsel for the period from April 1, 2012 to March 31, 2016. · comparability quote: The rates charged by the Receiver are comparable to the rates charged for the provision of services by other professional firms providing specialized financial advisory and restructuring services and the fees are fair and reasonable in the circumstances.
- recovery outcomeentries: basis: actual · quote: The Court has authorized three interim distributions (the first on September 4, 2009 for approximately $54.7 million; the second on December 12, 2011 for approximately $9.0 million; and the third on October 14, 2014 for approximately $8.6 million) to Class A & I shareholders representing approximately $72.3 million or $5.06 per share. · pct of: unstated · outcome: distribution · currency: CAD · class key: equity · stated by: receiver · amount low: 72300000 · amount high: 72300000 · class label: Class A & I shareholders · interim final: interim · currency quote: Unless otherwise stated, all monetary amounts contained in this Report are expressed in Canadian dollars. · claims qualifier: unstated; basis: actual · quote: On December 12, 2011, the Court approved the second interim distribution ('Second Distribution') of approximately $9.0 million which equated to $0.63 per Class A and Class I Share. · pct of: unstated · outcome: distribution · currency: CAD · class key: equity · stated by: receiver · cumulative: false · class label: Class A and Class I shareholders (Second Distribution) · interim final: interim · currency quote: Unless otherwise stated, all monetary amounts contained in this Report are expressed in Canadian dollars. · claims qualifier: unstated; basis: actual · quote: On October 14, 2014, the Court approved the third interim distribution ('Third Distribution') of approximately $8.6 million which equated to $0.60 per Class A and Class I Share. · pct of: unstated · outcome: distribution · currency: CAD · class key: equity · stated by: receiver · amount low: 8600000 · cumulative: false · amount high: 8600000 · class label: Class A and Class I shareholders (Third Distribution) · interim final: interim · currency quote: Unless otherwise stated, all monetary amounts contained in this Report are expressed in Canadian dollars. · claims qualifier: unstated; basis: actual · quote: In addition the Court authorized distributions from Class Actions to shareholders totalling approximately $7.5 million, or approximately $0.52 per share, concurrent with the first and third interim distributions. · pct of: unstated · outcome: distribution · currency: CAD · class key: equity · stated by: receiver · amount low: 7500000 · cumulative: true · amount high: 7500000 · class label: shareholders (Class Action distributions) · interim final: interim · currency quote: Unless otherwise stated, all monetary amounts contained in this Report are expressed in Canadian dollars. · claims qualifier: unstated; basis: unstated · quote: Accordingly, the Receiver is unable to determine when, or if, any future distributions will take place. · pct of: unstated · outcome: undetermined · class key: equity · stated by: receiver · class label: shareholders (future distributions) · interim final: unstated · conditional on: based on the settlement or outcome of the litigation · claims qualifier: unstated · stated on: 2016-05-12 · table missing: