Ontario · CCAA

This Thirty-Ninth Report reports to the Court on the following matters: (a) the status of the Claims Process; (b) the Monitor’s motion for an Order (the “Claims Settlement Approval Order”) substantially in the form of the draft order located at Tab 3 of the Motion Record of the Monitor returnable October 25, 2022 (the “Motion Record”), among other things: (i) approving the Claim Settlement Agreement among GLAS Trust, Carillion Canada and RPC LP dated August 23, 2021 (the “2021 GLAS Claims Settlement Agreement”); (ii) authorizing and directing Carillion Canada, Carillion Construction, RPC LP, by its general partner Rokstad Power GP Inc., Outland Camps and Outland Resources (collectively, the “BNPP Claim Applicants”) to enter into the Claim Settlement Agreement dated October 18, 2022 (the “2022 GLAS Claims Settlement Agreement”) along with GLAS Trust Corporation Limited (the “Security Trustee”) and BNPP Paribas, acting through its Canada branch (“BNPP Canada”); (iii) approving the Related Party Claims of the Security Trustee against Carillion Canada in the amount of $240,110,860.76 and against RPC LP in the amount of $183,890,207.52 as general unsecured claims in the Claims Process (together, the “GLAS Trust Claims”); (iv) authorizing and directing Carillion Canada to distribute part of the interim distribution to the Security Trustee (the “Allocated Distribution Proceeds”) to BNPP Canada upon Court approval of the GLAS Trust Claims; (v) authorizing and directing Carillion Canada to make an interim distribution, net of the Allocated Distribution Proceeds, to the Security Trustee after court approval of the GLAS Trust Claims and after the withdrawal of the BNPP Objection (defined below); (vi) approving the withdrawal of the BNPP Objection, subject to the conditions set out in the GLAS Claims Settlement Agreement; and (vii) approving the Related Party Claim of Carillion Canada against RPC LP in the amount of $2,589,927.03 (the “CCI/RPC Related Party Claim”) as a general unsecured claim; (c) the Monitor’s motion for an Order (the “D&O Claims Process Order”) substantially in the form of the draft order located at Tab 4 of the Motion Record, among other things, setting a process for the review and resolution of the claims filed in accordance with the Claims Procedure Order (the “D&O Claims”) against the directors and officers of the Applicants (the “D&Os”); (d) the status of the interim distributions; (e) the status of the ongoing litigation and commercial claims related to the Construction Business; (f) a summary of funds advanced in accordance with the Second Amended Project Charges Order (defined below) in respect of certain construction projects of Carillion Canada, Carillion Construction and Carillion Pacific; (g) an overview of the remaining real property assets of Carillion Canada; (h) the status of the Monitor’s activities in respect of the funds of Carillion Canada held by HSBC UK; (i) the status of the funds held by HSBC Bank Canada; (j) the actual receipts and disbursements of the Applicants from March 27, 2022, to October 1, 2022, and the cash flow forecast of the Applicants for the period from October 2, 2022 to April 29, 2023; and (k) the Monitor’s motion for an Order (the “Stay Extension Order”) substantially in the form of the draft order located at Tab 5 of the Motion Record, extending the Stay Period up to and including April 28, 2023

Court officer report · 18 October 2022