Alberta · NOI
Fourth Report of the Trustee
Court officer report · 13 August 2014
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: estimated · quote: Taking into account the estimated Purchase Commission and the Professional Fees, the Trustee estimates that approximately $36.2 million would be available to 3 Eau Claire's creditors, should the Bentall Offer be accepted, which would provide for payment in full to KEB and approximately $27.7 million to KDIC. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: trustee · class label: KEB · creditor name: KEB · interim final: unstated · conditional on: should the Bentall Offer be accepted · claims qualifier: unstated; basis: estimated · quote: Taking into account the estimated Purchase Commission and the Professional Fees, the Trustee estimates that approximately $36.2 million would be available to 3 Eau Claire's creditors, should the Bentall Offer be accepted, which would provide for payment in full to KEB and approximately $27.7 million to KDIC. · pct of: unstated · outcome: distribution · class key: secured · stated by: trustee · amount low: 27700000 · amount high: 27700000 · class label: KDIC · creditor name: KDIC · interim final: unstated · conditional on: should the Bentall Offer be accepted · claims qualifier: unstated; basis: estimated · quote: There would be no funds available for distribution to those mortgage holders registered subsequent to KDIC or to the unsecured creditors. · pct of: unstated · outcome: nil · class key: secured · stated by: trustee · class label: mortgage holders registered subsequent to KDIC · interim final: unstated · conditional on: should the Bentall Offer be accepted · claims qualifier: unstated; basis: estimated · quote: There would be no funds available for distribution to those mortgage holders registered subsequent to KDIC or to the unsecured creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: unsecured creditors · interim final: unstated · conditional on: should the Bentall Offer be accepted · claims qualifier: unstated; basis: unstated · quote: The Trustee cannot estimate the potential recoveries to the creditors from the Concord Offer as the amount of any postponement of the KDIC indebtedness is not known at this time. · pct of: unstated · outcome: undetermined · stated by: trustee · class label: creditors (under Concord Offer) · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: The Trustee cannot estimate the potential recoveries to the creditors from the Tri Win JV Offer as the amount of any postponement of the KDIC indebtedness is not known at this time. · pct of: unstated · outcome: undetermined · stated by: trustee · class label: creditors (under Tri-Win JV Offer) · interim final: unstated · claims qualifier: unstated; basis: plan · quote: In both scenarios, Bosa pays KEB, the first registered mortgage holder, in full upon Court approval of the Proposal and takes an assignment of KEB's secured claim. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: bidder · class label: KEB (under Bosa Proposal) · creditor name: KEB · interim final: unstated · conditional on: upon Court approval of the Proposal · claims qualifier: unstated; basis: plan · quote: In this scenario, Bosa anticipates that creditors could receive 100% of their claims; however, Bosa indicates that it could take 4.5 years after Court approval of a BIA Proposal to complete the Project. · pct of: unstated · outcome: distribution · pct low: 100 · pct high: 100 · class key: unsecured · stated by: bidder · class label: creditors (Scenario 1, Bosa Proposal) · interim final: unstated · conditional on: could take 4.5 years after Court approval of a BIA Proposal to complete the Project; contingent on the Project generating at least $40.0 million in profits · claims qualifier: unstated · stated on: 2014-08-13 · table missing: