Alberta · CCAA
2020 Annual Report for Walton Development and Management (Ontario) GP Ltd
Court officer report · 31 May 2021
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 filing7 verified
- cash on handnote: Ending cash balance of 395 (stated in thousands) per Exhibit 1.0; opening balance at Jan 1, 2020 was 309 thousand. · as at: 2020-12-31 · amount: 395000 · currency: CAD
- financial positionnote: No total assets or total liabilities stated. Components only: remaining assets consist of receivables due from other Walton Group members for management fees (remaining accounts receivable per Appendix A: 3,785,889; ending cash balance at Dec. 31, 2020: 395 thousand); proven unsecured claims total 3,347,201 with outstanding claim value 1,870,439 after 2020 and 2021 distributions (CRA claim unresolved). · basis: Unaudited financial information, WDM Ontario's books and records, and information prepared by WDM Ontario and WGIL, relied upon by the Monitor · scope: Single entity: Walton Development and Management (Ontario) GP Ltd. · currency: CAD
- operational summaryWDM Ontario no longer has any business, employees or revenue; the Monitor is collecting remaining management-fee receivables from other Walton Group entities and distributing proceeds to proven unsecured creditors.
- professional feesnote: Combined CCAA professional fees incurred during the Reporting Period; no tax treatment stated. · party: WDM GP's legal counsel, the Monitor and the Monitor's legal counsel · amount: 25000 · period: January 1, 2020 to December 31, 2020 · currency: CAD
- recovery outcomeentries: basis: actual · quote: In 2020, the Monitor on behalf of WDM Ontario made a first distribution to the proven unsecured creditors of WDM Ontario in the amount of $624,000. · pct of: unstated · outcome: distribution · currency: CAD · class key: unsecured · stated by: monitor · amount low: 624000 · cumulative: false · amount high: 624000 · class label: proven unsecured creditors · interim final: interim · currency quote: All references to dollars are in Canadian currency unless otherwise noted. · claims qualifier: unstated; basis: unstated · quote: As at the date of this WDM Ontario 2020 Annual Report, the Monitor on behalf of WDM Ontario has elected to undertake a second distribution to the proven unsecured creditors of WDM Ontario, in the amount of $852,000 (the ' Second Distribution '). · pct of: unstated · outcome: distribution · currency: CAD · class key: unsecured · stated by: monitor · amount low: 852000 · cumulative: false · amount high: 852000 · class label: proven unsecured creditors · interim final: interim · currency quote: All references to dollars are in Canadian currency unless otherwise noted. · claims qualifier: unstated; basis: unstated · quote: Based on the Monitor maintaining an Administrative Reserve of $340,000, WDM Ontario currently does not have sufficient funds to make a distribution to its creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: monitor · class label: unsecured creditors with proven claims · interim final: unstated · conditional on: Based on the Monitor maintaining an Administrative Reserve of $340,000 · claims qualifier: unstated · stated on: 2021-05-31 · table missing:
- report date31 May 2021
- report no2020 Annual Report