Ontario · CCAA
Fourth Report of the Monitor
Court officer report · 22 March 2013
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What we verified from this filing1 verified
- recovery outcomeentries: basis: actual · quote: The distribution thereto constitutes payment in full of all amounts owing and secured by the Westco Pre-Filing Lien Charge. · pct of: unstated · outcome: paid_in_full · class key: court_charges · stated by: monitor · amount low: 415558.92 · amount high: 415558.92 · class label: Westco Pre-Filing Lien Charge · creditor name: Westco · interim final: unstated · claims qualifier: unstated; basis: actual · quote: In addition to the foregoing, pursuant to paragraph 3(s) of the Receivership Order, the Receiver has paid all amounts owing and secured by the Administration Charge. · pct of: unstated · outcome: paid_in_full · class key: court_charges · stated by: monitor · class label: Administration Charge · interim final: unstated · claims qualifier: unstated; basis: actual · quote: On Friday December 14, 2012, the Court granted an Order authorizing the Receiver to distribute to the CCWIPP the sum of $17,407.92 in respect of pension contribution arrears owing outstanding on the date of the Receivership Order in accordance with section 81.6 of the BIA and also authorized the Receiver to make an interim distribution to BMO in the following amounts: (a) $6,000,000; plus (b) the amount, if any, by which the $3,000,000 CCAA Directors' Charge exceeds the aggregate face amount of all Director's Charge Claims filed with the Receiver on or before the Court ordered Claims Bar Date as defined in the D&O Charge Order (the ' Interim Distribution '). · pct of: unstated · outcome: distribution · class key: deemed_trust · stated by: monitor · amount low: 17407.92 · amount high: 17407.92 · class label: CCWIPP pension contribution arrears · creditor name: CCWIPP · interim final: unstated · claims qualifier: unstated; basis: actual · quote: The Interim Distribution to BMO was made in full satisfaction of the DIP credit facility and on account of NFC's indebtedness to BMO pursuant to a Second Amended and Restated Credit Agreement effective as of October 31, 2011. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: monitor · class label: BMO Interim Distribution / DIP credit facility · creditor name: BMO · interim final: interim · claims qualifier: unstated; basis: actual · quote: Accordingly, in addition to the payment in full of the Administration Charge and the Westco Pre-Filing Lien Charge, the Receiver has paid all amounts owing and which would have been secured by the DIP Lender's Charge. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: monitor · class label: DIP Lender's Charge · interim final: unstated · claims qualifier: unstated · stated on: 2013-03-22 · table missing: