Quebec · CCAA
Notes and authorities of the Petitioners La Garantie compagnie d’assurance de l’Amérique du Nord, l’Unique assurances générales Inc. et la Capitale, assurances générales Inc. in the context of a Motion for authorization to file a proof of claim after bar date (French version only) – dated April 22, 2015
Application / notice of application · 22 April 2015
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What we verified from this filing1 verified
- recovery outcomeentries: basis: plan · quote: The Dresser-Rand filing of the Late Amended Claim occurred only after distribution of the Plan proposing a 55% dividend. · pct of: unstated · outcome: distribution · pct low: 55 · pct high: 55 · class key: unsecured · stated by: monitor · class label: unsecured creditors · interim final: unstated · cents on dollar: 55 · claims qualifier: unstated; basis: plan · quote: BA Energy submits that Dresser-Rand's conduct in this case cannot be described as careless, negligent or accidental, but arose from a deliberate intent to reframe its claim as an unsecured claim when it became apparent that there would be a distribution to unsecured creditors of approximately $0.55 per dollar of claim. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: court · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: With respect to the materiality of the claim, it would if accepted comprise approximately 5.4% of the total pool of affected creditors and, if paid from plan proceeds, would reduce the amount available to unsecured creditors from 55 cents per dollar of a claim to 53 cents per dollar of claim. · pct of: unstated · outcome: distribution · pct low: 53 · pct high: 53 · class key: unsecured · stated by: court · class label: unsecured creditors · interim final: unstated · conditional on: if Dresser-Rand's claim were paid from plan proceeds · cents on dollar: 53 · claims qualifier: unstated; basis: estimated · quote: While if Dresser-Rand's current position with respect to value is accepted, it may suffer a deficiency in its claim of roughly $1.6 million still owing on the purchase price of roughly $8 million for the compressor, Dresser-Rand has possession of the compressor and current estimates of a deficiency are still speculative. · pct of: unstated · outcome: shortfall · class key: unsecured · stated by: debtor · class label: Dresser-Rand · creditor name: Dresser-Rand · interim final: unstated · conditional on: if Dresser-Rand's current position with respect to value is accepted · claims qualifier: unstated · shortfall amount: 1600000 · table missing: