Ontario · Winding-up (WURA)
Liquidator's Report - 2009.12.09
Court officer report · 9 December 2009
A plain-language read of this filing opens with a subscription.
What we verified from this filing1 verified
- recovery outcomeentries: basis: actual · quote: On April 8, 2008, this Court approved a fifth distribution (the "Fifth Distribution") of 20% of policy loss claims, bringing the cumulative distribution level to 100%. · pct of: unstated · outcome: paid_in_full · pct low: 100 · pct high: 100 · stated by: liquidator · cumulative: true · class label: policy loss claims · interim final: unstated · claims qualifier: unstated; basis: actual · quote: On December 17,2008, this Court approved a distribution to holders of ordinary creditor claims of 100%, up to a cumulative total of$100,000.00. · pct of: unstated · outcome: paid_in_full · pct low: 100 · pct high: 100 · class key: unsecured · stated by: liquidator · class label: ordinary creditor claims · claims amount: 100000 · interim final: unstated · conditional on: up to a cumulative total of $100,000.00 · claims qualifier: unstated; basis: actual · quote: (As of December 31, 2007 approximately 18,240 such policy loss claims, with a total value of approximately $66 milion, had been paid-in-full without any delay caused by the liquidation.) · pct of: unstated · outcome: paid_in_full · pct low: 100 · pct high: 100 · stated by: liquidator · amount low: 66000000 · amount high: 66000000 · class label: Under-limits Claimants · interim final: unstated · claims qualifier: unstated; basis: actual · quote: These policy loss claims were instead paid over time by way of the Court-authorized Interim Dividend Payments, ultimately resulting in a cumulative 100 cents on the dollar distribution on April 8, 2008. · pct of: unstated · outcome: paid_in_full · pct low: 100 · pct high: 100 · stated by: liquidator · amount low: 65000000 · cumulative: true · amount high: 65000000 · class label: Over-limits policy loss claims · interim final: unstated · cents on dollar: 100 · claims qualifier: unstated; basis: estimated · quote: The U.S. Liquidator urges that when the provisions of s. 161(6) are properly applied, there is no surplus, as claimants of Reliance (those in the U.S. Liquidation) are expected to suffer a significant shortfall in their claims against Reliance. · pct of: unstated · outcome: shortfall · stated by: unstated · class label: claimants of Reliance (U.S. Liquidation) · interim final: unstated · claims qualifier: unstated · stated on: 2009-12-09 · table missing: