Alberta · CCAA
Vita Crystallina 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 filing5 verified
- cash on handnote: Ending cash balance per Exhibit 1.0, stated in $000's as 19 · as at: 2022-12-31 · amount: 19000 · currency: CAD
- operational summaryVita's property has been monetized and its remaining affairs are being wound up, with only a GST receivable of about $69,000 left to collect. Administration is expected to be completed in 2023, followed by a final distribution to unsecured creditors.
- professional feesnote: CCAA professional fees; the note states these relate to the fees of the Monitor in administering the CCAA proceedings. Management fees of $21,000 were also paid to WGIL. · party: Monitor (Ernst & Young Inc.) · amount: 27000 · period: January 1, 2022 to December 31, 2022 · currency: CAD
- recovery outcomeentries: basis: actual · quote: The Monitor made an aggregate distribution of $900,000 to Claimants in December 2019, representing approximately 29% of the value of proven claims filed against Vita. · pct of: proven_claims · outcome: distribution · pct low: 29 · currency: CAD · pct high: 29 · class key: unsecured · stated by: monitor · amount low: 900000 · cumulative: false · amount high: 900000 · class label: Claimants (unsecured creditors with proven claims) · interim final: unstated · currency quote: All references to dollars are in Canadian currency unless otherwise noted. · claims qualifier: unstated; basis: actual · quote: In August 2022, the Monitor made a second distribution of $372,000 to the Claimants, representing 12% of the total value of proven claims. · pct of: proven_claims · outcome: distribution · pct low: 12 · currency: CAD · pct high: 12 · class key: unsecured · stated by: monitor · amount low: 372000 · cumulative: false · amount high: 372000 · class label: Claimants (unsecured creditors with proven claims) · interim final: interim · currency quote: All references to dollars are in Canadian currency unless otherwise noted. · claims qualifier: unstated; basis: actual · quote: The aggregate recover to the Claimants as at December 31, 2022 was 41%. · pct of: unstated · outcome: distribution · pct low: 41 · currency: CAD · pct high: 41 · class key: unsecured · stated by: monitor · cumulative: true · class label: Claimants (unsecured creditors with proven claims) · interim final: unstated · currency quote: All references to dollars are in Canadian currency unless otherwise noted. · claims qualifier: unstated; basis: estimated · quote: As at December 31, 2022, total distributions of $1,270,000 have been made to the Claimants and based on the estimated funds available for distribution of $46,000, the total estimated recovery to the Claimants is 43%. · pct of: unstated · outcome: distribution · pct low: 43 · currency: CAD · pct high: 43 · class key: unsecured · stated by: monitor · amount low: 1316000 · cumulative: true · amount high: 1316000 · class label: Claimants (unsecured creditors with proven claims) · claims amount: 3091000 · interim final: unstated · currency quote: All references to dollars are in Canadian currency unless otherwise noted. · claims qualifier: proven · stated on: 2023-05-31 · table missing:
- report date31 May 2023