Ontario · Receivership (court-appointed)
Third Report of the Receiver dated October 22, 2018
Court officer report · 22 October 2018
A plain-language read of this filing opens with a subscription.
What we verified from this filing1 verified
- recovery outcomeentries: basis: estimated · quote: The Senior Lenders will incur a substantial shortfall on their advances to the Company and, accordingly, there will not be any funds available for distribution to the Company' s other creditors. · pct of: unstated · outcome: shortfall · class key: secured · stated by: receiver · class label: Senior Lenders · creditor name: Senior Lenders · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: The Senior Lenders will incur a substantial shortfall on their advances to the Company and, accordingly, there will not be any funds available for distribution to the Company' s other creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: receiver · class label: the Company's other creditors · interim final: unstated · claims qualifier: unstated; basis: actual · quote: Accordingly, all known Bond Claims have been paid in full and each of the claimants provided a release in a form acceptable to Chubb. · pct of: unstated · outcome: paid_in_full · class key: unsecured · stated by: receiver · class label: Bond Claims (Subcontractors) · claims amount: 470000 · interim final: unstated · claims qualifier: estimated; basis: actual · quote: Pursuant to paragraph 11 of the Sale Approval and Vesting Order, the Receiver has distributed $3.5 million to the Senior Lenders since the completion of the Transaction. · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · amount low: 3500000 · amount high: 3500000 · class label: Senior Lenders · creditor name: Senior Lenders · interim final: unstated · claims qualifier: unstated; basis: actual · quote: All claims filed to-date by subcontractors against the Bonds have been paid in full by Westchester. · pct of: unstated · outcome: paid_in_full · class key: unsecured · stated by: receiver · class label: subcontractors against the Bonds · interim final: unstated · claims qualifier: unstated · stated on: 2018-10-22 · table missing: