Ontario · CCAA
Second Supplement to the Second Report of the Receiver dated June 2, 2010
Court officer report · 2 June 2010
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What we verified from this filing1 verified
- recovery outcomeentries: basis: unstated · quote: (i) authorizing and directing the Receiver to distribute approximately US$12 million to Comerica to repay in full the Canadian Participations together with interest thereon to June 7, 2010; · pct of: unstated · outcome: paid_in_full · currency: USD · class key: secured · stated by: receiver · class label: Comerica (Canadian Participations) · creditor name: Comerica · interim final: unstated · currency quote: US$12 million · claims qualifier: unstated; basis: unstated · quote: the remaining funds in SKD L.P. are to be paid to SKD AG, which is owed approximately US$54.2 million from SKD L.P. · pct of: unstated · outcome: distribution · currency: USD · class key: unsecured · stated by: receiver · class label: SKD AG (intercompany creditor of SKD L.P.) · creditor name: SKD AG · interim final: unstated · related party: true · currency quote: US$54.2 million · claims qualifier: unstated; basis: estimated · quote: The Receiver estimates that this will result in approximately US$1.3 million payable to the Company, prior to any further recoveries to SKD AG, including additional proceeds that may result from the resolution of all or a part of the Unresolved Claims, the Landlord Claim and the COBRA Claims in favour of SKD US. · pct of: unstated · outcome: distribution · pct low: 26.3 · currency: USD · pct high: 26.3 · class key: unsecured · stated by: receiver · amount low: 1300000 · amount high: 1300000 · class label: the Company (intercompany creditor of SKD AG) · creditor name: the Company · interim final: unstated · related party: true · conditional on: prior to any further recoveries to SKD AG, including additional proceeds that may result from the resolution of all or a part of the Unresolved Claims, the Landlord Claim and the COBRA Claims in favour of SKD US · currency quote: US$1.3 million · claims qualifier: unstated; basis: actual · quote: The Canadian dollar equivalent of US$90,373 to SKD US to fully satisfy any and all amounts that it paid on behalf of the Company, including US$53,000 in respect of the net amount paid to Comerica by SKD US on behalf of the Company and US in respect of professional fees owing to Comerica's Canadian legal counsel paid by SKD US; · pct of: unstated · outcome: paid_in_full · currency: USD · stated by: receiver · class label: SKD US · creditor name: SKD US · interim final: unstated · currency quote: US$90,373 · claims qualifier: unstated; basis: actual · quote: $25,773 in satisfaction of Ready Machinery's RSLA Claim, which is secured by a lien against a 1000 Ton Verson 108-72 Press (s/n 25917) ("Press"). · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · amount low: 25773 · amount high: 25773 · class label: Ready Machinery (RSLA Claim) · creditor name: Ready Machinery · interim final: unstated · claims qualifier: unstated; basis: actual · quote: $45,500 to Paccar in satisfaction of its secured claim against the Company. · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · amount low: 45500 · amount high: 45500 · class label: Paccar (secured claim) · creditor name: Paccar · interim final: unstated · claims qualifier: unstated · stated on: 2010-06-02 · table missing: