Ontario · CCAA
The purpose of this One Hundred and Fifty Seventh Report of the Monitor (the “Report”) is to: (a) provide this Court with an update on the status of matters relating to the HWT, including; (i) the status of the 2019 HWT Distribution (as defined below); and (ii) the cash position of the HWT Account as at September 30, 2020; (b) provide support for the Monitor’s motion seeking an order to effect the Unclaimed HWT Amounts Distribution and the Final HWT Distribution (each as described and defined below) and grant related relief; and (c) provide the Monitor’s observations in respect of the relief sought by the Court-appointed representatives of the Former Employees and the LTD Beneficiaries (the “Court-Appointed Representatives”) with respect to their discharge and the discharge of Representative Counsel
Court officer report · 16 November 2020
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What we verified from this filing1 verified
- recovery outcomeentries: basis: actual · quote: Total interim distributions approved with respect to Participating Benefits other than Pensioner Life represent 35% of the value of the benefits calculated in accordance with the HWT Allocation Methodology. · pct of: unstated · outcome: distribution · pct low: 35 · pct high: 35 · class key: unsecured · stated by: monitor · cumulative: false · class label: Participating Benefits other than Pensioner Life · interim final: interim · claims qualifier: unstated; basis: actual · quote: Distributions in respect of Pensioner Life represent 20% of the value calculated in accordance with the Compensation Claims Methodology pursuant to the Fifth Interim Distribution Order dated November 7, 2011. · pct of: unstated · outcome: distribution · pct low: 20 · pct high: 20 · class key: unsecured · stated by: monitor · cumulative: false · class label: Pensioner Life · interim final: interim · claims qualifier: unstated; basis: actual · quote: The HWT Declared Distribution Order brought the cumulative · pct of: unstated · outcome: distribution · pct low: 38 · pct high: 38 · class key: unsecured · stated by: monitor · cumulative: true · class label: Participating Benefits · interim final: unstated · claims qualifier: unstated; basis: liquidation_alternative · quote: The Residual Assets, primarily comprised of released reserve amounts, including the residual Stale-Dated Cheque Reserve (Non-Creditor Payees) and recoveries of alternative minimum tax, were substantially distributed as part of the HWT distribution in late 2019 (the ' 2019 HWT Distribution '), further increasing the HWT distributions by 1.228% and bringing the cumulative distributions to 39.228% with respect to Participating Benefits. · pct of: unstated · outcome: distribution · pct low: 39.228 · pct high: 39.228 · class key: unsecured · stated by: monitor · cumulative: true · class label: Participating Benefits · interim final: unstated · claims qualifier: unstated; basis: actual · quote: The distribution on account of Pensioner Life is 31.2% after the Declared Distribution and 32.428% after the 2019 HWT Distribution, the respective rates being before the effect of Pensioner Life premiums. · pct of: unstated · outcome: distribution · pct low: 32.428 · pct high: 32.428 · class key: unsecured · stated by: monitor · class label: Pensioner Life · interim final: unstated · claims qualifier: unstated · stated on: 2020-11-16 · table missing: