Alberta · CCAA
Fifteenth Report of the Monitor, filed Dec 1, 2011
Court officer report · 1 December 2011
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: plan · quote: Based on the amount of the Fund, the estimated distribution to the Affected Creditors under the Plan, is approximately 10% which is greater than Creditors would recover under a liquidation scenario · pct of: unstated · outcome: distribution · pct low: 10 · pct high: 10 · class key: unsecured · stated by: monitor · class label: Affected Creditors · interim final: unstated · claims qualifier: unstated; basis: liquidation_alternative · quote: The Liquidation Analysis illustrates that if the Plan is not approved and the assets are liquidated, the Creditors would recover no monies on their claims as is summarized below: · pct of: unstated · outcome: nil · class key: unsecured · stated by: monitor · class label: Creditors (if the Plan is not approved and the assets are liquidated) · interim final: unstated · conditional on: Plan not approved and assets liquidated · claims qualifier: unstated; basis: estimated · quote: CIBC holds security over several of the Company's Projects and is estimated to experience a shortfall on its loans of approximately $1.0 milllion after the sale of all Medican Group Units. · pct of: unstated · outcome: shortfall · class key: secured · stated by: monitor · class label: CIBC · creditor name: CIBC · interim final: unstated · conditional on: after the sale of all Medican Group Units · claims qualifier: unstated · shortfall amount: 1000000 · stated on: 2011-11-30 · table missing: