Quebec · CCAA
Monitor's Report on the Plan
Court officer report · 24 August 2005
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What we verified from this filing2 verified
- financial positionnote: Table shows book value total of $23,522 (thousands) vs. estimated net realizable value range of $2,460 (min) to $9,079 (max) thousand, less realization costs of $476/$376 thousand yielding net value of $1,904/$8,703 thousand. No comprehensive total liabilities figure is given; only 'Unaffected creditors, deemed trusts and secured creditors' (NBC, Sodec, BDC, SGF Tech, Pettigrew, Investissement Québec) totalling $7,380 (min) to $7,880 (max) thousand, leaving an amount potentially available for unsecured creditors of Nil to $823 thousand. · as at: 2005-06-30 · basis: unaudited Monitor analysis; book value column of a net realizable value table, with separate minimum/maximum realization scenarios · scope: Cinégroupe (the Companies subject to the CCAA proceedings) — accounts receivable, investment in television series and films, sequel rights and other investments · currency: CAD · total assets: 23522000
- recovery outcomeentries: basis: unstated · quote: The secured creditors holding security on the Companies ' assets will be paid in accordance with existing agreements, subject to certain amendments. · pct of: unstated · outcome: distribution · class key: secured · stated by: monitor · class label: secured creditors holding security on the Companies' assets · interim final: unstated · claims qualifier: unstated; basis: plan · quote: If the Plan is accepted, the unsecured creditors will receive at a minimum their share of the funds totalling $100,000, i.e., the total Initial Dividend, within 60 days of the Plan ' s approval. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: monitor · amount low: 100000 · amount high: 100000 · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: According to the Monitor ' s calculations and based on certain assumptions, the Additional Dividends could reach $823,000, if the liquidation is carried out in an orderly manner. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: monitor · amount high: 823000 · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: According to Cin é Groupe ' s management, the amount payable to the unsecured creditors could reach $3 million. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: debtor · amount high: 3000000 · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated; basis: liquidation_alternative · quote: In light of the foregoing, it is unlikely that a dividend would be paid to the unsecured creditors in the event of a bankruptcy. · pct of: unstated · outcome: nil · class key: unsecured · stated by: monitor · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated · stated on: 2005-08-24 · table missing: