Ontario · Receivership (court-appointed)
Seventh Report of the Receiver
Court officer report · 29 November 2013
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 filing6 verified
- cash on handnote: Receiver has not received any funds nor made any payments or distributions since the Appointment Order · amount: 0 · currency: CAD
- financial positionnote: Components per June 2013 NAV Statement (US$000s): Underlying Funds of Funds market value $1,325; Cash $5,592; Receivable from ABL Fund $828; Payables and accrued expenses $(12); Payables incl. Vontobel Redemption Request $(2,263); Net assets $5,470; Adjusted net assets (reversing Second Redemption Request) $7,733. · as at: 2013-06-30 · basis: Estimated Net Asset Value Statement provided by Harcourt; not audited or verified by the Receiver · scope: Segregated Portfolio (Belmont Dynamic Segregated Portfolio of Belmont SPC) — the underlying investment vehicle whose value determines the value of the Belmont Fund's Forward Contracts, not the Belmont Fund debtor entity itself · currency: USD
- operational summaryThe Belmont Fund's only assets are Forward Contracts tied to a Segregated Portfolio that is itself in wind-up; the Receiver has received and distributed no funds and is finalizing settlements of the Counterparty Claim and Vontobel Redemption Request before any funds can flow to stakeholders.
- professional feesnote: Paid initially by the Applicant, subject to potential reimbursement upon flow of funds pursuant to the Receiver's Charge · party: Receiver (KPMG Inc.) · amount: 1567646 · period: to September 30, 2013 · currency: CAD
- report date29 November 2013
- report noSeventh Report