Alberta · CCAA
Monitor's Nineteenth Report
Court officer report · 27 May 2016
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What we verified from this filing5 verified
- process resultsbids: 2 · note: Pursuant to the Marketing Process, Colliers received two offers on the Strathmore Lands, with only the second offer being deemed to include an acceptable purchase price.
- purchaserprice: note: The purchase price and the Deposit are as set out in the Confidential Affidavit · sealed: true · scope: the sale of the Strathmore Lands · status: conditional_backup · name note: purchaser of the Strathmore Lands, unnamed · structure: real_property · name source: recital · relationship: unstated · agreement date: 2016-04-28
- recovery outcomeentries: basis: plan · quote: Based on the known claims of the Eligible Affected Creditors, this will result in 1,640 District Depositors (approximately 62% of all District Depositors) and 10 Trades (approximately 77% of all Trades) being paid in full. · pct of: unstated · outcome: paid_in_full · class key: unsecured · stated by: monitor · class label: Eligible Affected Creditors (claims ≤ $5,000, Convenience Payments) · interim final: unstated · claims qualifier: unstated; basis: plan · quote: the Monitor currently estimates that Eligible Affected Creditors who are not paid in full by the Convenience Payments would receive cash distributions of between approximately 15% and 20% of their remaining proven claims, after deducting the Convenience Payments. · pct of: proven_claims · outcome: distribution · pct low: 15 · pct high: 20 · class key: unsecured · stated by: monitor · class label: Eligible Affected Creditors not paid in full by Convenience Payments (Cash Distribution from Non-Core Assets) · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: The Monitor currently estimates that Eligible Affected Creditors will receive NewCo Shares valued at between 53% and 60% of their remaining proven claims, after deducting the Convenience Payments; however, this estimate may vary based on the results of the Third Party Report and this variance may be material. · pct of: proven_claims · outcome: distribution · pct low: 53 · pct high: 60 · class key: unsecured · stated by: monitor · class label: Eligible Affected Creditors (NewCo Shares distribution) · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: The payments in 24.2 and 24.3 are anticipated to provide Eligible Affected Creditors, who are not paid in full by the Convenience Payments, with estimated distributions valued at between 68% and 80% of their remaining proven claims, after deducting the Convenience Payments. · pct of: proven_claims · outcome: distribution · pct low: 68 · pct high: 80 · class key: unsecured · stated by: monitor · class label: Eligible Affected Creditors not paid in full by Convenience Payments (combined Cash and Share Distributions) · interim final: unstated · claims qualifier: unstated · table missing:
- sale advisorColliers
- sale outcometext: Monitor is supportive of the Strathmore Transaction, which is conditional on Court approval and has not yet closed · scope: parcel · status: pending_approval