Ontario · CCAA
007. Seventh Report of the Monitor
Court officer report · 28 July 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 filing4 verified
- fee scheduleengagements: form: time_summary · rows: Peter J. Osborne; Peter J. Osborne; Matthew B. Lerner; Sarah Bittman; Sarah Bittman; Christina Shiels-Singh; Peter J. Osborne; Sarah Bittman; fees: 15236 · role: Preparing for and attending hearing to obtain initial order · quote: Subtotal | $15,236.00 · row kind: subtotal · rate kind: standard · name as stated: Subtotal; Peter J. Osborne; Peter J. Osborne; Sarah Bittman; Sarah Bittman; fees: 18412 · role: Review of transactions of interest and planning/commencing Monitor's investigation · quote: Subtotal | $18,412.00 · row kind: subtotal · rate kind: standard · name as stated: Subtotal; Peter J. Osborne; Sarah Bittman; fees: 31390 · role: Assistance with Monitor's Investigation/Court Motions · quote: Subtotal | $31,390.00 · row kind: subtotal · rate kind: standard · name as stated: Subtotal; Peter J. Osborne; Sarah Bittman; Christina Shiels-Singh; fees: 57432 · role: Examination of J Bowman for Monitor's Investigation · quote: Subtotal | Subtotal | Subtotal | $57,432.00 · row kind: subtotal · rate kind: standard · name as stated: Subtotal · money: tax: label: HST at 13% · quote: HST at 13% | $18,809.44 · amount: 18809.44 · fees: quote: fees of $144,688.00 · amount: 144688 · total: quote: The total fees and disbursements of Lenczner during the period from November 24, 2021 to May 30, 2022 (the ' Lenczner Fee Period ') (exclusive of HST) are $147,499.58 · amount: 147499.58 · includes tax: false · includes disbursements: true · approximate: false · disbursements: quote: disbursements of $2,811.58 · amount: 2811.58 · period: end: 2022-05-30 · kind: invoice · label: Lenczner Fee Period · quote: The total fees and disbursements of Lenczner during the period from November 24, 2021 to May 30, 2022 (the ' Lenczner Fee Period ') (exclusive of HST) are $147,499.58 which included fees of $144,688.00 and disbursements of $2,811.58. · start: 2021-11-24 · approval: quote: I swear this affidavit for the purpose of having the fees and activities of the Monitor and its counsel approved by the Court and for no other or improper purpose. · state: sought · averages: · currency: · invoices: · firm text: Lenczner Slaght LLP · firm quote: LENCZNER SLAGHT LLP · context quote: FEES OF COUNSEL TO THE MONITOR, ERNST & YOUNG INC., TO MAY 30, 2022
- purchaserprice: sealed: false · scope: the eighteen purchase agreements of the Sold Units of the Sheddon Project · status: approved · name note: purchasers of the eighteen Sold Units of the Sheddon Project, unnamed · structure: real_property · name source: recital · relationship: unstated
- recovery outcomeentries: basis: liquidation_alternative · quote: Specifically, the Monitor has estimated that, in a liquidation scenario, secured creditors would suffer a deficiency of approximately $6.8 million on a consolidated basis · pct of: unstated · outcome: shortfall · class key: secured · stated by: monitor · class label: secured creditors · interim final: unstated · conditional on: in a liquidation scenario, on a consolidated basis · claims qualifier: unstated · shortfall amount: 6800000; basis: liquidation_alternative · quote: there would be no recovery to general unsecured creditors · pct of: unstated · outcome: nil · class key: unsecured · stated by: monitor · class label: general unsecured creditors · interim final: unstated · conditional on: in a liquidation scenario · claims qualifier: unstated; basis: plan · quote: As set out in the CCAA Plan, Distribution Creditors will ultimately receive payment in full of their claims · pct of: unstated · outcome: paid_in_full · class key: unsecured · stated by: monitor · class label: Distribution Creditors · interim final: unstated · conditional on: 70% of Proven Claim on the later of the Plan Implementation Date or when due; 30% on the earlier of closing of the sale of all remaining residential units at 331 Sheddon and eight months from the Plan Implementation Date; Holdback Claims not paid until substantial completion of 331 Sheddon · claims qualifier: unstated; basis: plan · quote: the Funded Debt Creditor will have its claim paid out in full no later than June 30, 2025 · pct of: unstated · outcome: paid_in_full · class key: unsecured · stated by: monitor · class label: Funded Debt Creditor · creditor name: Halmont · interim final: unstated · conditional on: no later than June 30, 2025 · claims qualifier: unstated · stated on: 2022-07-28 · table missing:
- sale outcometext: the eighteen purchase agreements of the Sold Units of the Sheddon Project were approved and vested; an ancillary order approving a form of order for the sale of the two unsold units in the future was also granted · scope: parcel · status: approved