Alberta · CCAA
44. Forty-Fourth Report of the Monitor, filed
Court officer report · 25 November 2019
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: Ending cash balance for Walton Ontario Land 1 Corporation / WOLLP per Table 1.0, stated in thousands (103). Statement covers the period to November 25, 2019. The Monitor has determined there will be no remaining funds after completion of the remaining wind-up tasks. · as at: 2019-11-25 · amount: 103000 · currency: CAD
- disbursementsnote: Total disbursements per Table 1.0, stated in thousands (10,385), through November 25, 2019. Largest items: LP distribution of 8,560, unsecured claims settlement of 1,205, and CCAA professional fees of 294. · since: April 20, 2018 (statement header; the narrative says April 20, 2019) · amount: 10385000 · currency: CAD
- operational summaryWalton Ontario Land Corporation and WOLLP have sold their sole property and have no remaining assets. All proven unsecured claims have been settled and distributions made to limited partners, and the Monitor is completing final wind-up tasks (tax filings, annual report) ahead of dissolving both entities.
- professional feesnote: Figure is from Table 1.0 in thousands (294); per the notes it includes fees of the Monitor, the Monitor's legal counsel and WOLLP's legal counsel. The report does not state whether tax is excluded. · party: Monitor, Monitor's legal counsel and WOLLP's legal counsel (combined CCAA professional fees) · amount: 294000 · period: April 20, 2018 to November 25, 2019 · currency: CAD
- receipts cumulativenote: Total receipts for Walton Ontario Land 1 Corporation per Table 1.0, stated in thousands (10,464), through November 25, 2019. The document is inconsistent on the start date (2018 in the table title and notes, 2019 in paragraph 20). · since: April 20, 2018 (statement header; the narrative says April 20, 2019, being the date the Monitor's powers were expanded) · amount: 10464000 · currency: CAD
- recovery outcomeentries: basis: actual · quote: All proven claims of creditors against Walton Ontario Land and WOLLP have been settled in full from the assets realized upon, and from those realizations, the Monitor issued the Second Distribution to WOLLP's limited partners. · pct of: unstated · outcome: paid_in_full · class key: unsecured · stated by: monitor · amount low: 1200000 · amount high: 1200000 · class label: unsecured claims of creditors against WOLLP · interim final: unstated · claims qualifier: unstated; basis: actual · quote: The First Distribution and the Second Distribution represent, in aggregate, an approximate 84% recovery to the limited partners of WOLLP. · pct of: unstated · outcome: distribution · pct low: 84 · pct high: 84 · class key: equity · stated by: monitor · cumulative: true · class label: limited partners of WOLLP · interim final: unstated · claims qualifier: unstated; basis: actual · quote: However, since issuing the 2018 Annual Report, the Monitor has determined that there will be no remaining funds following completion of the remaining tasks of Walton Ontario Land Corporation and WOLLP. · pct of: unstated · outcome: nil · class key: equity · stated by: monitor · class label: limited partners of WOLLP · interim final: unstated · conditional on: final, nominal distribution was contingent on remaining funds after completing wind-up tasks, which the Monitor determined would not exist · claims qualifier: unstated · table missing:
- report date25 November 2019
- report noForty-Fourth Report