Alberta · CCAA
Edgemont 2022 Annual Report
Court officer report · 31 May 2023
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: Ending cash balance per Exhibit 1.0 (stated in CAD '000s as 758); the table labels the date 'Dec. 31, 2021' but the reporting period ends December 31, 2022. Opening balance at January 1, 2022 was 806 ($000s). · as at: 2022-12-31 · amount: 758000 · currency: CAD
- operational summaryEdgemont has sold its Woodhaven LDP property and is realizing remaining assets (trailing cost recoveries under the Cost Sharing Agreement and a cash-secured letter of credit) while completing remaining construction obligations; all proven creditor claims have been paid in full and distributions to equity holders are expected over the next 3-5 years.
- professional feesnote: Also reported: management fees of $486,000 paid in the period. Forecast professional fees of $300,000 over 3 to 5 years. · party: CCAA professional fees (Monitor, Monitor's legal counsel and Edgemont's legal counsel) · amount: 47000 · period: January 1, 2022 to December 31, 2022 · currency: CAD
- recovery outcomeentries: basis: actual · quote: In 2021, the Monitor made an aggregate distribution of $3.2 million to Claimants, representing 100% of the value of proven claims filed against Edgemont. · pct of: proven_claims · outcome: paid_in_full · pct low: 100 · pct high: 100 · class key: unsecured · stated by: monitor · amount low: 3200000 · cumulative: true · amount high: 3200000 · class label: Claimants (unsecured creditors with proven claims) · interim final: unstated · claims qualifier: unstated; basis: actual · quote: In 2022, a distribution of $1.2 million was made to equity holders of Edgemont. · pct of: unstated · outcome: distribution · class key: equity · stated by: monitor · amount low: 1200000 · amount high: 1200000 · class label: equity holders · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: | Total estimated Class B Share recovery ($/share) | 0.17 | · pct of: unstated · outcome: distribution · class key: equity · stated by: monitor · cumulative: true · class label: equity holders (Class B Share) · interim final: unstated · claims qualifier: unstated · stated on: 2023-05-31 · table missing:
- report date31 May 2023
- report no2022 Annual Report