Ontario · Winding-up (WURA)
Liquidator's Report - 2006.12.08
Court officer report · 8 December 2006
A plain-language read of this filing opens with a subscription.
What we verified from this filing1 verified
- recovery outcomeentries: basis: actual · quote: This Court further approved, on June 26, 2003, a first interim distribution (the 'First Distribution') to policyholders and claimants of 25% of their valid and allowed claims. · pct of: unstated · outcome: distribution · pct low: 25 · pct high: 25 · stated by: liquidator · cumulative: false · class label: policyholders and claimants · interim final: interim · claims qualifier: unstated; basis: actual · quote: On September 2, 2004, this Court approved a second interim distribution (the 'Second Distribution') to policyholders and claimants of a further 25% of their valid and allowed claims, bringing the total distributions to 50%. · pct of: unstated · outcome: distribution · pct low: 50 · pct high: 50 · stated by: liquidator · cumulative: true · class label: policyholders and claimants · interim final: interim · claims qualifier: unstated; basis: actual · quote: On December 21, 2005, this Court further approved a third distribution to policyholders and claimants of a further 15% of their valid and allowed claims, bringing the total distribution to 65% (the 'Third Distribution'). · pct of: unstated · outcome: distribution · pct low: 65 · pct high: 65 · stated by: liquidator · cumulative: true · class label: policyholders and claimants · interim final: interim · claims qualifier: unstated; basis: estimated · quote: Based on the foregoing and in light of the remaining uncertainties described above, the Liquidator recommends a further distribution at this time of 15% of valid policyholder loss claims, bringing the total distributions to 80%. · pct of: unstated · outcome: distribution · pct low: 80 · pct high: 80 · stated by: liquidator · cumulative: true · class label: policyholders (valid loss claims) · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: However, based on current information and assuming no unforeseen negative developments, the Liquidator is optimistic that payment of 100% of valid loss claims will be reached by the end of 2008. · pct of: unstated · outcome: paid_in_full · stated by: liquidator · class label: policyholders (all valid claims) · interim final: unstated · conditional on: based on current information and assuming no unforeseen negative developments · claims qualifier: unstated · stated on: 2006-12-08 · table missing: