Alberta · CCAA
11. Eleventh Report of Monitor
Court officer report · 1 September 2009
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 filing6 verified
- cash on handnote: Ending cash balance as at August 21, 2009 of approximately $3.7 million (table: ending cash excluding funds held with FMC $2,424K plus funds held with FMC $1,276K, total $3,700K), versus a forecast balance of approximately $3.512 million. · as at: 2009-08-21 · amount: 3700000 · currency: CAD · qualifier: approximately
- operational summaryThe Applicants' operations continued in the normal course with no material adverse changes since the Tenth Report; JED retained its core employees and supplier services and expects to implement the Plan near the end of October 2009.
- professional feesnote: Forecast figure, approximately $800,000 of other professional costs required to implement the Plan including restructuring expenses and estimated audit fees; the report does not state the Monitor's own fees incurred to date. · party: Other professional costs required to implement the Plan (restructuring expenses and estimated audit fees) · amount: 800000 · period: Forecast Period (August 22, 2009 to October 30, 2009) · currency: CAD
- recovery outcomeentries: basis: unstated · quote: Special Crown Claims are to receive a cash distribution from the Cash Pool of approximately $581,000 equal to 100% of their respective claim amounts; · pct of: unstated · outcome: paid_in_full · pct low: 100 · currency: CAD · pct high: 100 · class key: preferred · stated by: monitor · amount low: 581000 · amount high: 581000 · class label: Special Crown Claims · interim final: unstated · currency quote: All references to dollars are in Canadian currency unless otherwise noted. · claims qualifier: unstated; basis: plan · quote: Priority Secured Creditors are to receive a distribution of cash and First Secured Debentures (as defined in the Plan) equal to 100% of their respective claims comprising a cash distribution from the Cash Pool equal to 75% of their respective claims and 25% of their respective claims in First Secured Debentures; · pct of: unstated · outcome: paid_in_full · pct low: 100 · pct high: 100 · class key: secured · stated by: monitor · class label: Priority Secured Creditors · interim final: unstated · conditional on: Priority Secured Creditors are to receive a distribution of cash and First Secured Debentures equal to 100% of their respective claims comprising a cash distribution from the Cash Pool equal to 75% of their respective claims and 25% of their respective claims in First Secured Debentures · claims qualifier: unstated; basis: unstated · quote: Subordinate Secured Creditors are to receive Second Secured Debentures in a principal amount equal to 75% of their respective claims. · pct of: unstated · outcome: distribution · pct low: 75 · pct high: 75 · class key: secured · stated by: monitor · class label: Subordinate Secured Creditors · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: In addition to receiving Class A Special Shares (representing a recovery of 51.5% of their respective claims), the Noteholders will receive all of the common shares of New JOl, to reflect their potential secured claim as discussed above. · pct of: unstated · outcome: distribution · pct low: 51.5 · pct high: 51.5 · class key: secured · stated by: monitor · class label: Noteholders · interim final: unstated · conditional on: In addition to receiving Class A Special Shares (representing a recovery of 51.5% of their respective claims), the Noteholders will receive all of the common shares of New JOI, to reflect their potential secured claim · claims qualifier: unstated; basis: plan · quote: The Unsecured Creditors of JOI and JPI are to receive their pro rata share of 4.6 million in Class B Special Shares which indicate a recovery of approximately 35.1% on their respective claims. · pct of: unstated · outcome: distribution · pct low: 35.1 · pct high: 35.1 · class key: unsecured · stated by: monitor · class label: Unsecured Creditors · interim final: unstated · claims qualifier: unstated · stated on: 2009-09-01 · table missing:
- report date1 September 2009
- report noEleventh Report