Ontario · CCAA
Forty-Third Report of the Monitor and Receiver, dated April 24, 2024
Court officer report · 24 April 2024
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 filing8 verified
- cash on handnote: Opening cash position at start of the forecast period (April 14, 2024). Rokstad Applicants separately: approximately $28.9 million. Segregated post-filing construction project funds are excluded from the cash balance. · as at: 2024-04-14 · amount: 92200000 · currency: CAD · qualifier: approximately; opening cash position of the Carillion Cash Flow Forecast (Carillion Applicants). The Rokstad Cash Flow Forecast opening cash position is approximately $28.9 million.
- closing confirmedscope: the assets described in the Sale Agreement · outcome: completed · effective: 2023-12-15 · date basis: stated · approval order date: 2023-11-28
- operational summaryThe Applicants have sold all operating business divisions and real estate assets and settled all affirmative construction claims; remaining activity is resolving outstanding claims, making further interim distributions, and completing financial statements and tax returns.
- purchaserprice: sealed: false · scope: the assets described in the Sale Agreement · status: closed · name note: purchaser of Carillion Canada's remaining real estate interests, unnamed · structure: real_property · name source: recital · relationship: unstated · agreement date: 2023-10-25
- recovery outcomeentries: basis: actual · quote: The Interim Distribution Order approved an interim distribution (the ' Interim Distribution ') in an amount of approximately $112.3 million to be made to Claimants with Proven Claims of certain Applicants (the ' Distributing Applicants '), as described in the Thirty-Fourth Report and the Interim Distribution Order. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: monitor · amount low: 112300000 · cumulative: false · amount high: 112300000 · class label: Claimants with Proven Claims · interim final: interim · claims qualifier: unstated; basis: actual · quote: Since August 4, 2021, the Carillion Applicants have made interim distributions totaling approximately $70.5 million. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: monitor · amount low: 70500000 · cumulative: true · amount high: 70500000 · class label: Claimants with Proven Claims · interim final: interim · claims qualifier: unstated; basis: actual · quote: As of April 14, 2024, interim distributions of approximately $13 million have been made to subcontractors with Proven Priority Claims to the Bremner Project Settlement Proceeds Reserve and the Niagara Project Settlement Proceeds Reserve. · pct of: unstated · outcome: distribution · class key: preferred · stated by: monitor · amount low: 13000000 · amount high: 13000000 · class label: subcontractors with Proven Priority Claims · interim final: interim · claims qualifier: unstated; basis: actual · quote: The Applicants made an interim distribution of approximately $0.3 million during this cash flow period to a subcontractor with a Proven Trust Claim against the Bremner Project. · pct of: unstated · outcome: distribution · stated by: monitor · cumulative: false · class label: subcontractor with a Proven Trust Claim (Bremner Project) · interim final: interim · claims qualifier: unstated; basis: actual · quote: Since March 27, 2022, the Carillion Applicants have made interim distributions from the Trust Funds relating to these Proven Priority Claims, totaling approximately $13 million (including reimbursements to Carillion Construction for general interim distributions previously paid to the Proven Priority Claims). · pct of: unstated · outcome: distribution · class key: preferred · stated by: monitor · amount low: 13000000 · cumulative: true · amount high: 13000000 · class label: Proven Priority Claims (Trust Funds) · interim final: interim · claims qualifier: unstated · stated on: 2024-04-24 · table missing:
- report date24 April 2024
- report noForty-Third Report
- sale outcometext: Carillion Canada's remaining real estate interests sale closed · scope: parcel · status: closed