Ontario · CCAA
1. Notice of Motion dated February 11, 2022 2. Thirty-Seventh Report of the Monitor dated February 11, 2022 A. Glossary of Terms B. Thirty-Fourth Report of the Monitor dated July 26, 2021 (without appendices) C. Thirty- Sixth Report of the Monitor dated October 22, 2021 (with cash flow forecast) D. Redacted Trafalgar Minutes of Settlement dated November 2, 2021 E. Confidential Appendix - Trafalgar Minutes of Settlement dated November 2, 2021 F. Insurance Settlement Agreement dated November 22,2021 3. Draft Trafalgar Settlement Approval Order 4. Draft Insurance Settlement Approval Order
Court officer report · 17 February 2022
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 summaryThe Applicants have sold all operating business divisions and settled most construction claims; the Monitor continues to resolve claims, make interim distributions, and pursue remaining recoveries. This report seeks approval of the Trafalgar litigation settlement and the Union Station insurance settlement ($4,000,000).
- recovery outcomeentries: basis: estimated · quote: authorizing that, with the exception of the Rokstad Applicants, the remaining Applicants (the ' Distributing Applicants ') and the Debtors are authorized, directed and empowered to make one or more interim cash distributions to each claimant with a Proven Claim of a total estimated distribution pool of approximately $112.3 million (the ' Estimated Distribution Pool ') of the pro rata amount of the Estimated Distribution Pool applicable to the creditors of the Distributing Applicants and Debtors holding Proven Claims, net of any withholding taxes based on applicable law, as set out in the Interim Distribution Order (the ' Interim Distribution '); · pct of: unstated · outcome: distribution · class key: unsecured · stated by: monitor · amount low: 112300000 · amount high: 112300000 · class label: creditors of the Distributing Applicants and Debtors holding Proven Claims · interim final: interim · claims qualifier: unstated; basis: unstated · quote: Due to the uncertainty of the timing and amounts of the potential recovery to the Rokstad Applicants in respect of these Rokstad Remaining Items, the Monitor is of the view that it is not appropriate for an interim distribution to be made by the Rokstad Applicants at this time. · pct of: unstated · outcome: undetermined · class key: unsecured · stated by: monitor · class label: creditors of the Rokstad Applicants · interim final: unstated · conditional on: not appropriate for an interim distribution to be made by the Rokstad Applicants at this time · claims qualifier: unstated; basis: unstated · quote: Accordingly, the Claimants of Carillion Holdings and Carillion Finance will not receive any distribution; · pct of: unstated · outcome: nil · class key: unsecured · stated by: monitor · class label: Claimants of Carillion Holdings and Carillion Finance · interim final: unstated · claims qualifier: unstated; basis: actual · quote: In addition, pursuant to the Interim Distribution Order, the Applicants, with the assistance of the Monitor made interim distributions of approximately $37.9 million to certain creditors of the Applicants. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: monitor · amount low: 37900000 · amount high: 37900000 · class label: Applicants and Debtors (interim distributions to certain creditors) · interim final: interim · claims qualifier: unstated · table missing: The following table presents a summary of the Estimated Distribution Pool by Applicant and Debtor, which is calculated based on the unrestricted cash balance as of June 25, 2021, net of Reserves (defined below):; The table below is a summary of the Estimated Claims Pool for the Interim Distribution.; The following table summarizes the Estimated Distribution Pool, the Estimated Claims Pool and the Estimated Interim Distribution for each of the Distributing Applicants and Debtors.
- report date11 February 2022
- report noThirty-Seventh Report