Ontario · CCAA
Amended Plan of the Functionary dated May 18, 2017 (Please note the amendment is only to the text of the plan. If you'd like to view the appendices, please refer to the original Plan above)
Plan of arrangement / compromise · 18 May 2017
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What we verified from this filing1 verified
- recovery outcomeentries: basis: actual · quote: As of this date, the Functionary's (debt) claim, on the Company's behalf, was partially allowed, at approximately 47 million Canadian dollars9 for loans granted by the Company (out of the Bonds issuance proceeds) to the subsidiaries, including those holding the Back-Up Assets. · pct of: unstated · outcome: distribution · currency: CAD · stated by: unstated · amount low: 47000000 · cumulative: false · amount high: 47000000 · class label: Company's (debt) claim for loans granted to subsidiaries · creditor name: Urbancorp, Inc. · interim final: unstated · currency quote: Canadian dollars · claims qualifier: unstated; basis: actual · quote: As stated in Report No.8, out of the Assets' Realization Proceeds, the Monitor has already recognized third party (other than the Company) home purchasers' (deposit refunds) and suppliers' debt claims in a cumulative amount of approximately 15.5 million Canadian dollars. · pct of: unstated · outcome: distribution · currency: CAD · class key: unsecured · stated by: unstated · amount low: 15500000 · cumulative: true · amount high: 15500000 · class label: third party home purchasers' (deposit refunds) and suppliers' debt claims · interim final: unstated · related party: false · currency quote: Canadian dollars · claims qualifier: unstated; basis: unstated · quote: 43.1 An initial interim distribution in the amount of approximately 20 million Canadian dollars. · pct of: unstated · outcome: distribution · currency: CAD · stated by: unstated · amount low: 20000000 · cumulative: false · amount high: 20000000 · class label: Company's creditors (interim distribution) · interim final: interim · conditional on: requires settlement or court determination of the appeal from the disallowance of Tarion Warranty Corporation's claim · currency quote: Canadian dollars · claims qualifier: unstated; basis: unstated · quote: 43.2 An additional distribution of the balance of reserves funds that has been maintained by the Monitor pending the decision in the home purchasers claims (who claimed for damages beyond their rights to repayment of their deposits recognized by the Monitor) in the amount of 10 million Canadian dollars. · pct of: unstated · outcome: distribution · currency: CAD · class key: unsecured · stated by: unstated · amount low: 10000000 · cumulative: false · amount high: 10000000 · class label: home purchasers (damages claims beyond deposit repayment) / reserve funds distribution · interim final: unstated · conditional on: pending the decision in the home purchasers claims · currency quote: Canadian dollars · claims qualifier: unstated · table missing: