Ontario · CCAA
First Report of the Monitor (October 24 2012)
Court officer report · 24 October 2012
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 filing2 verified
- unsecured creditorsnote: Document states amount as 'approximately $432,904.20' · page: 4 · as of: Filing Date (October 16, 2012) · basis: Amount owed by Futura to Aeroplan in respect of past sales of Aeroplan miles, as reported by the Monitor · amount: 432904.2 · debtor: The Futura Loyalty Group Inc. · creditor: Aeroplan · currency: CAD
- unsecured creditorsnote: Stated as 'approximately $150,000'; this figure covers only members with claims over $1,000 and excludes the remaining balance owed to the more than 100,000 total Futura Rewards Members, whose individual claims are not itemized and are excluded from the Creditor List (Appendix F) due to cost/privacy concerns; amounts held in Futura Rewards Accounts are recorded as liabilities in Futura's accounting records and their payment could be considered payment to unsecured creditors (para. 33). · page: 9 · basis: Aggregate liability as reported by Futura for the approximately 86 Futura Rewards Members whose claims exceed $1,000 under the Futura Rewards Program · amount: 150000 · debtor: The Futura Loyalty Group Inc. · creditor: Futura Rewards Members (aggregate, claims exceeding $1,000) · currency: CAD