Alberta · CCAA
2. Second Report of the Monitor
Court officer report · 9 January 2013
A plain-language read of this filing opens with a subscription.
What we verified from this filing6 verified
- cash on handnote: Stated as an approximate figure comparing actual to forecast ending cash balance. · as at: 2012-12-07 · amount: 1000000 · currency: CAD · qualifier: approximately
- operational summarySkope continues to operate its non-operated oil and gas interests while pursuing a CCAA Plan of Arrangement backed by Pine Cliff, having found that sale bids from the SISP were insufficient to repay secured debt; the Monitor's forecast indicates Skope will have sufficient cash to meet obligations through February 28, 2013.
- professional feesnote: Line item 'CCAA professional fees' in the budget-to-actual disbursement analysis; forecast for next period is $125,000. · party: Monitor and legal counsel · amount: 28736 · period: December 8, 2012 to January 4, 2013 · currency: CAD
- recovery outcomeentries: basis: liquidation_alternative · quote: In the Monitor's view, a liquidation scenario would result in no recovery to the Unsecured Creditors as the proceeds realized from the sale of Skope's assets would be insufficient to repay the secured debt owed by Skope to Pine Cliff. · pct of: unstated · outcome: nil · class key: unsecured · stated by: monitor · class label: Unsecured Creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: the distributions under the Plan will result in six Unsecured Creditors receiving a 100% recovery of the value of their claims and the remaining Unsecured Creditors will receive recoveries between 1% and 52% of the value of their claims. · pct of: unstated · outcome: paid_in_full · pct low: 100 · pct high: 100 · class key: unsecured · stated by: monitor · class label: Unsecured Creditors (six creditors with claims $5,000 or less) · interim final: unstated · claims qualifier: unstated; basis: plan · quote: the distributions under the Plan will result in six Unsecured Creditors receiving a 100% recovery of the value of their claims and the remaining Unsecured Creditors will receive recoveries between 1% and 52% of the value of their claims. · pct of: unstated · outcome: distribution · pct low: 1 · pct high: 52 · class key: unsecured · stated by: monitor · class label: Unsecured Creditors (remaining, claims greater than $5,000) · interim final: unstated · claims qualifier: unstated · stated on: 2013-01-09 · table missing:
- report date9 January 2013
- report noSecond Report