Quebec · CCAA
Fourteenth Report of the Monitor on Callidus Plan of Compromise and Arrangement Amended on December 5, 2017 (unofficial English translation)
Court officer report · 8 December 2017
Also filed as: Monitors Report on Callidus Plan of Compromise and Arrangement Amended on December 5, 2017, (unofficial English translation)
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing4 verified
- operational summaryAs a result of the 2017 sale of Bluberi's business to Callidus, the Debtors no longer operate any business or hold any assets other than potential retained claims against Callidus, which the Debtors have not yet filed as a formal legal action.
- recovery outcomeentries: basis: estimated · quote: The total distribution to the Debtors' former employees should represent 100% of their claims, that is, approximately $951,000 for 91 claims; · pct of: unstated · outcome: distribution · pct low: 100 · pct high: 100 · class key: preferred · stated by: monitor · amount low: 951000 · amount high: 951000 · class label: Debtors' former employees · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: The distribution to the Debtors' other creditors with claims of $3,000 or less should represent 100% of their claims, or approximately $30,000 for 22 claims; and · pct of: unstated · outcome: distribution · pct low: 100 · pct high: 100 · class key: unsecured · stated by: monitor · amount low: 30000 · amount high: 30000 · class label: Debtors' other creditors with claims of $3,000 or less · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: The distribution to the Debtors' other creditors with claims in excess of $3,000, given that the first $3,000 of the claim will be paid in full, could represent between 16% and 98% of their respective claims. · pct of: unstated · outcome: distribution · pct low: 16 · pct high: 98 · class key: unsecured · stated by: monitor · class label: Debtors' other creditors with claims in excess of $3,000 · interim final: unstated · conditional on: the first $3,000 of the claim will be paid in full · claims qualifier: unstated; basis: estimated · quote: It should be noted that the distribution to the Debtors' other creditors with claims of $20,000 or less (14 claims) could represent between 33% and 98% of their respective claims, and those with a claim greater than $20,000 (11 claims) could represent between 16% and 28% of their respective claims. · pct of: unstated · outcome: distribution · pct low: 33 · pct high: 98 · class key: unsecured · stated by: monitor · class label: Debtors' other creditors with claims of $20,000 or less · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: It should be noted that the distribution to the Debtors' other creditors with claims of $20,000 or less (14 claims) could represent between 33% and 98% of their respective claims, and those with a claim greater than $20,000 (11 claims) could represent between 16% and 28% of their respective claims. · pct of: unstated · outcome: distribution · pct low: 16 · pct high: 28 · class key: unsecured · stated by: monitor · class label: Debtors' other creditors with claims greater than $20,000 · interim final: unstated · claims qualifier: unstated; basis: plan · quote: not including the $3 million Callidus claim that does not receive a distribution under the Plan · pct of: unstated · outcome: nil · class key: secured · stated by: monitor · class label: Callidus claim · claims amount: 3000000 · creditor name: Callidus · interim final: unstated · claims qualifier: unstated; basis: plan · quote: the Priority Claim shall be paid in full within thirty (30) days of the Plan Implementation Date; · pct of: unstated · outcome: paid_in_full · pct low: 100 · pct high: 100 · class key: preferred · stated by: monitor · class label: Priority Claim · interim final: unstated · claims qualifier: unstated; basis: plan · quote: the Proven Claims of the former employers of the Companies shall be paid in full within thirty (30) days of the Plan Implementation Date; · pct of: proven_claims · outcome: paid_in_full · pct low: 100 · pct high: 100 · class key: preferred · stated by: monitor · class label: former employees of the Companies · interim final: unstated · claims qualifier: unstated; basis: plan · quote: the first three thousand dollars ($3,000) of said Proven Claims shall be paid in full within thirty (30) days of the Plan Implementation Date ; and · pct of: unstated · outcome: distribution · class key: preferred · stated by: monitor · amount low: 3000 · amount high: 3000 · class label: Creditors other than former employees and holders of Priority Claims · interim final: unstated · conditional on: the first $3,000 of said Proven Claims shall be paid in full; the remainder of the Settlement Funds shall be paid on a pro rata basis · claims qualifier: unstated · stated on: 2017-12-08 · table missing:
- report date8 December 2017
- report noMonitor's Report on the Plan of Compromise and Arrangement proposed by Callidus