Ontario · CCAA

The purposes of this Ninety-Ninth Report are to: (a) provide the Court with KPMG's Specified Auditing Procedures Report on the HWT cash flow for the 2009 Period and the 2010 Period; (b) provide the Court with an updated illustration of the HWT distribution to Participating Beneficiaries (the "Updated Illustrative HWT Distribution"); (c) seek the Court's approval for; (i) the Trustee to hold the HWT assets in non-interest bearing investments to facilitate finalizing the HWT's tax affairs; (ii) the potential recoupment of the amount of the Trustee Claims on a pro rata basis from the Estate Distribution to Participating Beneficiaries based on their HWT entitlements, subject to determination of the Trustee's rights, if any; (iii) payment into escrow of the Stale-Dated Cheque Reserve pending the completion of a process for locating the Non-Creditor Payees, and declaring that amounts related to non-responsive Non-Creditor Payees (as later defined herein) form part of the assets of the HWT; (iv) the posting of notice of the Declared Distribution ("Notice of Declared Distribution") on the Monitor's website no later than February 28, 2014, declaring a distribution at a rate that will bring the total distribution to 38%, subject to the Pensioner Life Premium Reduction, failing which the Monitor will seek further direction from this Court; (v) the Trustee to make a distribution described in the Notice of Declared Distribution, or as directed by this Court; (vi) adjusting the Estate Distribution for overpayments or underpayments made to Participating Beneficiaries as a result of updated preliminary information and distribution of Residual Assets, subject to further order of this Court; and (vii) payment into escrow of: (A) unclaimed HWT distributions, to be dealt with in accordance with, any procedure established for the Estate Distribution or as otherwise directed by this Court; and (B) Residual Assets, to be included in the Estate Distribution, subject to adjustments; and (viii) the termination of the HWT upon the posting of the Notice of Declared Distribution on the Monitor's website and completion of the distributions from the HWT

Court officer report · 13 November 2013