Ontario · Receivership (court-appointed)
Fifth Report of Representative Counsel
Court officer report · 25 April 2023
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What we verified from this filing1 verified
- recovery outcomeentries: basis: actual · quote: The Court subsequently issued an endorsement approving an interim distribution to Blue Cross in the amount of $46 million shortly thereafter (the " Approved Blue Cross Distribution "). · pct of: unstated · outcome: distribution · class key: equity · stated by: receiver · amount low: 46000000 · cumulative: false · amount high: 46000000 · class label: Blue Cross (BCL and CHS, Unitholders of SMA 2) · creditor name: Blue Cross · interim final: interim · claims qualifier: unstated; basis: unstated · quote: As a result of various and pending distribution issues, including those identified by the Receiver in the Twelfth Report and Supplemental Report, aside from Blue Cross, no other stakeholder in the Receivership Proceeding has received a distribution. · pct of: unstated · outcome: nil · stated by: receiver · class label: other stakeholders in the Receivership Proceeding (aside from Blue Cross) · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: As such, it would be inappropriate for this Court to declare that substantive consolidation does not apply to Blue Cross or for Blue Cross to receive a further interim distribution at this time. · pct of: unstated · outcome: nil · class key: equity · stated by: monitor · class label: Blue Cross (second interim distribution sought) · creditor name: Blue Cross · interim final: interim · conditional on: pending determination of substantive consolidation and other Distribution Issues · claims qualifier: unstated · stated on: 2023-04-25 · table missing: