Ontario · CCAA
Motion Record of the Monitor returnable September 22, 2021
Application / notice of application · 15 September 2021
Also filed as: Motion Record of the Proposal Trustee returnable September 22, 2021
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 filing2 verified
- fee scheduleengagements: form: prose · rows: · money: approximate: false · period: kind: unstated · approval: state: unstated · averages: rate: 564.8 · quote: The average hourly rates for KSV and Bennett Jones for the referenced billing periods were $564.80 and $578.46, respectively. · scope: KSV · currency: · invoices: · firm text: KSV Restructuring Inc. · firm quote: Counsel to KSV Restructuring Inc., solely in its capacity as Court-appointed monitor and proposal trustee and not in its personal capacity · context quote: Counsel to KSV Restructuring Inc., solely in its capacity as Court-appointed monitor and proposal trustee and not in its personal capacity; form: prose · rows: · money: approximate: false · period: kind: unstated · approval: state: unstated · averages: rate: 578.46 · quote: The average hourly rates for KSV and Bennett Jones for the referenced billing periods were $564.80 and $578.46, respectively. · scope: Bennett Jones · currency: · invoices: · firm text: Bennett Jones LLP · firm quote: BENNETT JONES LLP · context quote: I am a lawyer qualified to practice law in the Province of Ontario and am a partner of Bennett Jones LLP (" Bennett Jones "), counsel for KSV Restructuring Inc.
- recovery outcomeentries: basis: actual · quote: These distributions repaid in full the amount owing to a mortgagee of the real property owned by 22 Old Kennedy Development Inc. and 50% of the amounts owing to several mortgagees whose obligations were personally guaranteed by Mr. Wang on a secured basis. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: monitor · class label: mortgagee of the real property owned by 22 Old Kennedy Development Inc. · interim final: unstated · claims qualifier: unstated; basis: actual · quote: These distributions repaid in full the amount owing to a mortgagee of the real property owned by 22 Old Kennedy Development Inc. and 50% of the amounts owing to several mortgagees whose obligations were personally guaranteed by Mr. Wang on a secured basis. · pct of: unstated · outcome: distribution · pct low: 50 · pct high: 50 · class key: secured · stated by: monitor · class label: several mortgagees whose obligations were personally guaranteed by Mr. Wang on a secured basis · interim final: unstated · claims qualifier: unstated; basis: actual · quote: As reflected in the table above, as at the date of this Report, the Monitor has distributed from the Surplus: (a) the full amount owing to 2557725 Ontario Inc.; and (b) approximately $4.4 million, representing 50% of the amounts owing to the other Wang secured creditors. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: monitor · class label: 2557725 Ontario Inc. · creditor name: 2557725 Ontario Inc. · interim final: unstated · claims qualifier: unstated; basis: actual · quote: As reflected in the table above, as at the date of this Report, the Monitor has distributed from the Surplus: (a) the full amount owing to 2557725 Ontario Inc.; and (b) approximately $4.4 million, representing 50% of the amounts owing to the other Wang secured creditors. · pct of: unstated · outcome: distribution · pct low: 50 · pct high: 50 · class key: secured · stated by: monitor · amount low: 4400000 · amount high: 4400000 · class label: the other Wang secured creditors · interim final: unstated · claims qualifier: unstated; basis: actual · quote: On certain Non-Applicant properties, all creditors were paid in full. · pct of: unstated · outcome: paid_in_full · class key: unsecured · stated by: monitor · class label: all creditors (on certain Non-Applicant properties) · interim final: unstated · claims qualifier: unstated · stated on: 2021-09-15 · table missing: