Ontario · Receivership (court-appointed)
Joint Report of the Receiver and Monitor – dated April 19, 2024
Court officer report · 19 April 2024
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 filing1 verified
- recovery outcomeentries: basis: actual · quote: The distribution of the Settlement Amount to Proven Creditors amounted to approximately 6.5 cents on the dollar of the Proven Claims. · pct of: unstated · outcome: distribution · pct low: 6.5 · pct high: 6.5 · class key: unsecured · stated by: monitor · class label: Proven Creditors · interim final: unstated · cents on dollar: 6.5 · claims qualifier: unstated; basis: estimated · quote: Assuming that the Barbados High Court of Justice approves a distribution of the OUBT Proceeds from Olympus Bank to the Company, the Receiver estimates that approximately $3,000,000 will be available for an interim distribution to Proven Creditors (the ' Distribution Amount '). · pct of: unstated · outcome: distribution · class key: unsecured · stated by: receiver · amount low: 3000000 · amount high: 3000000 · class label: Proven Creditors · interim final: interim · conditional on: Assuming that the Barbados High Court of Justice approves a distribution of the OUBT Proceeds from Olympus Bank to the Company · claims qualifier: unstated · stated on: 2024-04-19 · table missing: