Manitoba · Receivership (court-appointed)
Receiver's Report 16
Court officer report · 6 October 2014
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 filing7 verified
- cash on handnote: Cash and equivalents per the June 30, 2014 Quarterly Report; Appendix 1 shows excess of receipts over disbursements of $14,372,263, of which $10,373,693 is short term investments and bonds and the balance is cash held in trust (holdback, unclaimed distributions, class action funds). · as at: 2014-06-30 · amount: 14400000 · currency: CAD · qualifier: approximately
- operational summaryThe Receiver continues to realize on the remaining six portfolio investments, administer the receivership (lease, shareholder services, accounting) and recommends a third interim distribution of about $8.57 million ($0.60 per Class A and I share) to shareholders.
- professional feesnote: Receiver and Manager fees per Appendix 1, excluding taxes of $452,355; legal fees of $2,210,557 (plus disbursements and taxes) are also shown separately for the same period. · party: Receiver and Manager (Deloitte Restructuring Inc.) · amount: 8021642 · period: June 28, 2005 to June 30, 2014 · currency: CAD
- receipts cumulativesince: June 28, 2005 (appointment of the Receiver) to June 30, 2014 · amount: 106549700 · currency: CAD
- recovery outcomeentries: basis: unstated · quote: Accordingly, the Receiver is now in a position where it recommends a third interim distribution ('Third Distribution') of approximately $8,573,476 which equates to approximately $0.60 per Class A and I share. · pct of: unstated · outcome: distribution · class key: equity · stated by: receiver · amount low: 8573476 · cumulative: false · amount high: 8573476 · class label: Class A and I shareholders · interim final: interim · conditional on: Should the Court approve a Third Distribution · claims qualifier: unstated; basis: unstated · quote: Accordingly, it is the view of the Receiver that no amount is due for any subsequent distribution. · pct of: unstated · outcome: nil · class key: equity · stated by: receiver · class label: Manitoba Federation of Labour (Class L shareholder) · creditor name: Manitoba Federation of Labour · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: Prior to Court approval of the First Distribution, the Receiver corresponded with the Province of Manitoba who advised that they had no claim to make to any share of the proposed distribution on account of their Class G Shares. · pct of: unstated · outcome: nil · class key: equity · stated by: receiver · class label: Province of Manitoba (Class G shareholder) · creditor name: Province of Manitoba · interim final: unstated · claims qualifier: unstated · stated on: 2014-10-06 · table missing:
- report date6 October 2014
- report noReceiver's Report No. 16