Quebec · CCAA
Thirty-First Report of the Monitor – dated November 25, 2019
Court officer report · 25 November 2019
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 filing5 verified
- disbursementsnote: Total distributions paid to claimants to date, before deduction of attorney fees paid by claimants; a further $98,060,399 of distributions is pending (total $417,496,639). Approximately $33,000 of paid distributions have not yet been released, were returned or remain uncashed. · since: commencement of distributions under the Amended Plan, as of October 31, 2019 · amount: 319436240 · currency: CAD
- operational summaryMMAC's CCAA proceedings are in the distribution and wind-down phase: the Monitor is issuing claimant distributions, reviewing the Province of Quebec's lower-than-expected final claim, and tracking related Chapter 11 litigation, and seeks to extend the stay to June 12, 2020.
- professional feesnote: Fees/disbursements $21,293 plus sales taxes $3,189 = $24,482 total (Richter $16,639; Woods $2,200; Gowling WLG $5,643, each including taxes). Balance of Administration Charge to complete the CCAA after these fees: $520,863 including taxes ($451,962 excluding sales taxes of $68,901). The Monitor and its counsel also retain a $150,000 retainer to be applied to final invoices. · party: Richter (Monitor), Woods and Gowling WLG (counsel) — Canadian Professional Fees · amount: 24482 · period: June 1, 2019 to October 31, 2019 · currency: CAD
- report date25 November 2019
- report noThirty-First Report of the Monitor