Ontario · Receivership (court-appointed)
Motion Record of the Receiver (returnable on September 21, 2023) dated
Application / notice of application · 21 September 2023
A plain-language read of this filing opens with a subscription.
What we verified from this filing1 verified
- recovery outcomeentries: basis: estimated · quote: Based upon the information reviewed to date by the Receiver, the Receiver estimates that CWB will suffer a significant shortfall in the recovery of its first ranking secured claim, and that there will be no funds available for distribution to any subordinate secured or unsecured creditors of the Index Group. · pct of: unstated · outcome: shortfall · class key: secured · stated by: receiver · class label: CWB (first-ranking secured creditor) · creditor name: Canadian Western Bank · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: Based upon the information reviewed to date by the Receiver, the Receiver estimates that CWB will suffer a significant shortfall in the recovery of its first ranking secured claim, and that there will be no funds available for distribution to any subordinate secured or unsecured creditors of the Index Group. · pct of: unstated · outcome: nil · class key: unsecured · stated by: receiver · class label: subordinate secured or unsecured creditors of the Index Group · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: CWB is expected to suffer a significant shortfall in the recovery of the indebtedness owing to it by the Respondents; · pct of: unstated · outcome: shortfall · class key: secured · stated by: receiver · class label: CWB · creditor name: Canadian Western Bank · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: Based on the Receiver's initial review of the potential realizations from the Companies' assets and operations, CWB will likely suffer a significant shortfall on its security. · pct of: unstated · outcome: shortfall · class key: secured · stated by: receiver · class label: CWB · creditor name: Canadian Western Bank · interim final: unstated · claims qualifier: unstated · stated on: 2023-09-15 · table missing: