Alberta · CCAA
Monitor's Thirty-Fourth Report
Court officer report · 3 March 2018
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 filing9 verified
- cash on handnote: District (including CEF) actual ending balance of cash and marketable securities for the variance period ended February 10, 2018 (forecast ending balance $977,726). DIL separately reported an ending balance of $987,768 for the same period, which the document states will be distributed in the Final DIL Distribution. · as at: 2018-02-10 · amount: 1068272 · currency: CAD
- disbursementsnote: District CEF operations total actual disbursements for the variance period November 12, 2017 to February 10, 2018 (period figure, not cumulative since the Filing Date). District other operations disbursements were a further $122,048, and DIL disbursements were $1,782,682. · since: 2017-11-12 · amount: 4465003 · currency: CAD
- operational summaryThe Applicants are winding down the CCAA proceedings: DIL's assets are fully realized with a final depositor distribution due March 2018, EMSS's proceedings are complete, ECHS will be complete after the Parsonage Lot sale, and the District continues to market its Tuscany Lands. The Monitor supports a Church and School settlement and the $50,000 Parsonage Lot sale, both before the court on March 8, 2018.
- purchaserLimetwig Homes Inc.
- receipts cumulativenote: District CEF operations total actual receipts for the variance period November 12, 2017 to February 10, 2018 (period figure, not cumulative since the Filing Date); includes $4,250,000 transfer of funds held in trust. District other operations receipts were a further $151,380, and DIL receipts were $9,169. · since: 2017-11-12 · amount: 4253307 · currency: CAD
- recovery outcomeentries: basis: plan · quote: Pursuant to the District Plan, a distribution of approximately $4.25 million was released to the District's creditors in January 2018 (the 'District Distribution'). · pct of: unstated · outcome: distribution · class key: unsecured · stated by: monitor · amount low: 4250000 · amount high: 4250000 · class label: District's creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: The most recent distribution to DIL Depositors totaled approximately $7.25 million and was released to DIL Depositors, pursuant to the DIL Plan, in November 2017 (the 'Third DIL Distribution'). · pct of: unstated · outcome: distribution · class key: unsecured · stated by: monitor · amount low: 7250000 · cumulative: false · amount high: 7250000 · class label: DIL Depositors · interim final: interim · claims qualifier: unstated; basis: plan · quote: A final distribution totalling approximately $179,000 will be released to DIL Depositors, pursuant to the DIL Plan, in March 2018 (the 'Final DIL Distribution'). · pct of: unstated · outcome: distribution · class key: unsecured · stated by: monitor · amount low: 179000 · cumulative: false · amount high: 179000 · class label: DIL Depositors · interim final: final · claims qualifier: unstated; basis: plan · quote: Upon release of the Final DIL Distribution, payment made to DIL Depositors, including those made pursuant to the Emergency Fund and required annual minimum payments (the 'AMPs') to holders of registered retirement income funds ('RRIF(s)') and locked-in income funds ('LIF(s)', collectively the 'RRIF and LIF Holders'), will total approximately $30.7 million and represent approximately 81% of the DIL Depositors' original investments as recorded in DIL's books and records on the Filing Date. · pct of: unstated · outcome: distribution · pct low: 81 · pct high: 81 · class key: unsecured · stated by: monitor · amount low: 30700000 · cumulative: true · amount high: 30700000 · class label: DIL Depositors · interim final: final · claims qualifier: unstated · stated on: 2018-03-03 · table missing:
- report date3 March 2018
- report noThirty-Fourth Report
- sale outcometext: District seeking approval for sale of the Parsonage Lot at March 8 Hearing · scope: parcel · status: pending_approval