Alberta · CCAA
06. Sixth Report of the Monitor
Court officer report · 19 August 2009
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 filing4 verified
- operational summaryRock Well continues to operate while pursuing a CCAA Plan and Exit Facility financing to emerge from insolvency, remains cash flow negative, and is undertaking cost-cutting and asset-sale initiatives to fund a restructured, recapitalized business.
- recovery outcomeentries: basis: plan · quote: | Overall recovery from the Base and Incremental Distributions | A/C | 25.64% | 33.71% | · pct of: unstated · outcome: distribution · pct low: 25.64 · currency: CAD · pct high: 33.71 · class key: unsecured · stated by: monitor · class label: Unsecured Creditors · interim final: unstated · conditional on: significant Disputed Claims; indicative range only · currency quote: in $CDN · claims qualifier: unstated; basis: liquidation_alternative · quote: | Recovery to Canadian Unsecured Creditors | 0.0% | 18.7% | · pct of: unstated · outcome: distribution · pct low: 0 · pct high: 18.7 · class key: unsecured · stated by: monitor · class label: Canadian Unsecured Creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Essentially, the Plan provides that the Rock Well's US creditors will receive 100% of their proven claims in the event the Plan is approved and all conditions precedent are met. · pct of: proven_claims · outcome: paid_in_full · pct low: 100 · pct high: 100 · class key: unsecured · stated by: monitor · class label: US creditors · interim final: unstated · conditional on: Plan approved and all conditions precedent met · claims qualifier: unstated · stated on: 2009-08-19 · table missing:
- report date19 August 2009
- report noSixth Report