Ontario · CCAA
Fifteenth Report of the Monitor dated November 19, 2020
Court officer report · 19 November 2020
Also filed as: Eleventh Report of the Proposal Trustee dated November 19, 2020
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
- fee scheduleengagements: form: prose · rows: · money: approximate: false · period: kind: unstated · approval: state: unstated · averages: rate: 558.34 · quote: The average hourly rates for KSV and Bennett Jones for the referenced billing periods were $558.34 and $510.07, respectively. · scope: KSV · currency: · invoices: · firm text: KSV Restructuring Inc. · firm quote: KSV Restructuring Inc. · context quote: KSV Restructuring Inc. ('KSV') was appointed monitor (in such capacity, the 'Monitor') · context unverified: true; form: prose · rows: · money: approximate: false · period: kind: unstated · approval: state: unstated · averages: rate: 510.07 · quote: The average hourly rates for KSV and Bennett Jones for the referenced billing periods were $558.34 and $510.07, respectively. · scope: Bennett Jones · currency: · invoices: · firm text: Bennett Jones · firm quote: Bennett Jones · context quote: The average hourly rates for KSV and Bennett Jones for the referenced billing periods were $558.34 and $510.07, respectively.
- recovery outcomeentries: basis: actual · quote: the Monitor has distributed from the Surplus: (a) the full amount owing to 2557725 Ontario Inc.; and (b) approximately $4.4 million, representing 50% of the amounts owing to the other secured creditors. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: monitor · amount low: 3086000 · amount high: 3086000 · class label: 2557725 Ontario Inc. (secured creditor of 22 Old Kennedy) · claims amount: 3086000 · creditor name: 2557725 Ontario Inc. · interim final: unstated · claims qualifier: unstated; basis: actual · quote: the Monitor has distributed from the Surplus: (a) the full amount owing to 2557725 Ontario Inc.; and (b) approximately $4.4 million, representing 50% of the amounts owing to the other secured creditors. · pct of: unstated · outcome: distribution · pct low: 50 · pct high: 50 · class key: secured · stated by: monitor · amount low: 4400000 · amount high: 4400000 · class label: other secured creditors (mortgagees with claims guaranteed by Mr. Wang) · interim final: unstated · claims qualifier: unstated; basis: actual · quote: The secured distributions repaid in full the amount owing to a mortgagee of the real property owned by 22 Old Kennedy Development Inc. and 50% of the amounts owing to several mortgagees whose obligations were personally guaranteed by Mr. Wang. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: monitor · class label: mortgagee of the real property owned by 22 Old Kennedy Development Inc. · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: there are expected to be nominal amounts available for distribution to unsecured creditors of Birchmount Gardens and Mr. Wang · pct of: unstated · outcome: distribution · class key: unsecured · stated by: monitor · class label: unsecured creditors of Birchmount Gardens and Mr. Wang · interim final: unstated · conditional on: nominal amounts only; subject to Intercompany Analysis results and resolution of claims · claims qualifier: unstated · stated on: 2020-11-19 · table missing: