Ontario · Receivership (court-appointed)
Halo Interim Distribution Order
Distribution order · 16 October 2020
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 filing3 verified
- counselMcCarthy Tétrault LLP
- presiding officerJustice Gilmore
- recovery outcomeentries: basis: actual · quote: THIS COURT ORDERS that the Receiver is authorized and directed to make an interim distribution or distributions to BCI Construction and BCI Specialty respectively, up to a total of $78,600,000.00 (plus accrued interest, if any) as set out in the Fifth Report, subject to any necessary or desirable reserves as determined by the Receiver, and such payments are hereby approved. · pct of: unstated · outcome: distribution · class key: secured · stated by: court · cumulative: false · amount high: 78600000 · class label: BCI Construction and BCI Specialty (secured claims) · creditor name: BCI Construction and BCI Specialty · interim final: interim · conditional on: subject to any necessary or desirable reserves as determined by the Receiver; plus accrued interest, if any · claims qualifier: unstated; basis: actual · quote: THIS COURT ORDERS that the Receiver is authorized and directed to place up to a total of $42,900,000 in a trust account with Dale & Lessmann LLP in trust for the Receiver pursuant to a trust agreement acceptable to the Receiver (the ' Trust '), provided that the amounts in the Trust shall at all times be held in trust for the Receiver until the Receiver approves a distribution from the Trust to Aviva. · pct of: unstated · outcome: distribution · stated by: court · cumulative: false · amount high: 42900000 · class label: Aviva Insurance of Canada · creditor name: Aviva Insurance of Canada · interim final: unstated · conditional on: amounts held in trust for the Receiver until the Receiver approves a distribution from the Trust to Aviva · claims qualifier: unstated · stated on: 2020-10-16 · table missing: