Alberta · CCAA
2020 Annual Report for Walton Development and Management GP Ltd
Court officer report · 31 May 2021
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: Exhibit 1.0 states 'Ending cash balance at Dec. 31, 2020' as 415; the exhibit appears to be in thousands of dollars (opening balance 1,714; Note 4 equates 46 to $46,000), so approximately $415,000. Opening balance at January 1, 2020 was 1,714. · as at: 2020-12-31 · amount: 415 · currency: CAD · qualifier: in thousands (Exhibit 1.0 ending cash balance)
- operational summaryWDM GP no longer has any business, employees or revenue; its remaining assets are management-fee receivables from other Walton Group members, which are being collected and distributed to proven unsecured creditors.
- professional feesnote: Stated as $18,000 in Note 3 (shown as 18 in thousands in Exhibit 1.0). No statement about whether tax is excluded. · party: WDM GP's legal counsel, the Monitor and the Monitor's legal counsel (combined) · amount: 18000 · period: January 1, 2020 to December 31, 2020 · currency: CAD
- recovery outcomeentries: basis: actual · quote: In 2020, the Monitor on behalf of WDM GP made a first distribution to the proven unsecured creditors of WDM GP in the amount of $2.7 million. · pct of: unstated · outcome: distribution · currency: CAD · class key: unsecured · stated by: monitor · amount low: 2700000 · cumulative: false · amount high: 2700000 · class label: proven unsecured creditors · interim final: unstated · currency quote: All references to dollars are in Canadian currency unless otherwise noted. · claims qualifier: unstated; basis: unstated · quote: As at the date of this WDM GP 2020 Annual Report, the Monitor on behalf of WDM GP has elected to undertake a second distribution to the proven unsecured creditors of WDM GP, in the amount of $1.7 million (the ' Second Distribution '). · pct of: unstated · outcome: distribution · currency: CAD · class key: unsecured · stated by: monitor · amount low: 1700000 · cumulative: false · amount high: 1700000 · class label: proven unsecured creditors · interim final: unstated · currency quote: All references to dollars are in Canadian currency unless otherwise noted. · claims qualifier: unstated; basis: unstated · quote: Based on the Monitor maintaining an Administrative Reserve of $340,000, WDM GP currently does not have sufficient funds to make a distribution to its creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: monitor · cumulative: false · class label: unsecured creditors with proven claims · interim final: unstated · conditional on: driven by the time required for WDM GP to monetize its remaining assets · claims qualifier: unstated · stated on: 2021-05-31 · table missing:
- report date31 May 2021
- report no2020 Annual Report