Manitoba · Receivership (court-appointed)
Receiver's Report 12
Court officer report · 4 September 2009
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 filing5 verified
- cash on handnote: Reported as 'cash and equivalents totalling approximately $65.7 million' in the June 30, 2009 Quarterly Report; the Receiver also separately holds approximately $6.9 million of net Class Action settlement funds as Administrator. · as at: 2009-06-30 · amount: 65700000 · currency: CAD · qualifier: approximately
- operational summaryThe Receiver continues to administer the receivership (rent, shareholder services staff, professional fees) and realize on the remaining portfolio of 17 investments, and is seeking Court approval for a $54.7 million interim distribution to Class A and Class I shareholders after providing holdbacks for creditors and undertakings.
- recovery outcomeentries: basis: unstated · quote: The Receiver has corresponded with The Province of Manitoba who has advised that they have no claim to make to any share of the proposed distribution on account of their Class G shares. · pct of: unstated · outcome: nil · class key: equity · stated by: receiver · class label: Class G shares (Province of Manitoba) · creditor name: The Province of Manitoba · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: The Receiver proposes to refund the $200 paid by the Manitoba Federation of Labour at the same time that an interim distribution is made to the Class A and Class I shareholders. · pct of: unstated · outcome: distribution · class key: equity · stated by: receiver · amount low: 200 · amount high: 200 · class label: Class L shareholder (Manitoba Federation of Labour) · creditor name: Manitoba Federation of Labour · interim final: interim · claims qualifier: unstated · stated on: 2009-09-04 · table missing: Attached as Appendix 9 is an estimate of the proposed interim distribution outlining the estimated holdbacks outlined above.
- report date4 September 2009
- report noReceiver's Report No. 12 Amended