Alberta · CCAA
Second Report of the Monitor
Court officer report · 27 February 2025
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 filing1 verified
- recovery outcomeentries: basis: plan · quote: Convenience Class Creditors are to be paid in full in respect of their Proven Claims as soon as reasonably practicable on or after the Implementation Date. · pct of: unstated · outcome: paid_in_full · class key: unsecured · stated by: monitor · class label: Convenience Class Creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: If, upon completion and monetization of the Project, no proceeds are available to pay such claims, then the Affected Creditors will not receive any recovery. · pct of: unstated · outcome: nil · class key: unsecured · stated by: monitor · class label: Affected Creditors · interim final: unstated · conditional on: If, upon completion and monetization of the Project, no proceeds are available to pay such claims · claims qualifier: unstated; basis: liquidation_alternative · quote: Despite the uncertainty of timing and amount of distribution to Affected Creditors the Monitor is of the view that the Plan still presents a better option to Affected Creditors than the alternative which would be a receivership or bankruptcy sale of the unfinished Project, which in the Monitor's view would result in no recovery to Affected Creditors or Convenience Class Creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: monitor · class label: Affected Creditors or Convenience Class Creditors · interim final: unstated · claims qualifier: unstated · stated on: 2025-02-27 · table missing: