British Columbia · CCAA
Monitor’s Twelfth Report
Court officer report · 23 March 2022
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 filing1 verified
- recovery outcomeentries: basis: estimated · quote: As there will be a shortfall on recovery to the unsecured creditors with Accepted Claims, there will be no surplus funds available to make any distributions, interim or otherwise, to 1077's members. · pct of: unstated · outcome: shortfall · currency: CAD · class key: unsecured · stated by: monitor · class label: unsecured creditors with Accepted Claims · interim final: unstated · currency quote: in CAD 000's · claims qualifier: unstated; basis: estimated · quote: As there will be a shortfall on recovery to the unsecured creditors with Accepted Claims, there will be no surplus funds available to make any distributions, interim or otherwise, to 1077's members. · pct of: unstated · outcome: nil · class key: equity · stated by: monitor · class label: 1077's members · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: As summarized in the table below, subject to the resolution of the Disputed Claims as well as actual receipts collected and disbursements paid, the anticipated recovery to Claimants is in the range of 90% of their Accepted Claim. · pct of: unstated · outcome: distribution · pct low: 90 · pct high: 90 · class key: unsecured · stated by: monitor · class label: Claimants (Accepted Claims) · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: The Monitor intends to make an interim distribution in May 2022, and is of the view that the aggregate total of the interim distribution should be no more than $23.3 million (or 75% of the total Accepted Claims). · pct of: unstated · outcome: distribution · pct low: 75 · pct high: 75 · class key: unsecured · stated by: monitor · amount low: 23300000 · cumulative: false · amount high: 23300000 · class label: Claimants (interim distribution) · interim final: interim · claims qualifier: unstated · stated on: 2022-03-23 · table missing: