Manitoba · Receivership (court-appointed)
Quarterly Report - December 31 ,2019.pdf
Court officer report · 17 January 2020
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 · 1 withheld
- cash on handnote: Statement of Net Assets shows cash and equivalents of 5,371,794. Excludes unclaimed funds of approximately $2.0 million held in trust for shareholders. · as at: 2019-12-31 · amount: 5400000 · currency: CAD · qualifier: approximately
- disbursementsnote: Total Disbursements to December 31, 2019, excluding interim distributions to shareholders; 1,428,678 disbursed April 1, 2016 to December 31, 2019. · since: June 28, 2005 (Receiver's appointment) · amount: 27943534 · currency: CAD
- operational summaryOngoing activities are limited to investment monitoring, financial reporting, shareholder services and tax reporting; the Receiver employs no former Crocus employees and is realizing on the remaining four investments, with a final shareholder distribution application possible in 2020.
- professional feesnote: Receiver and Manager Fees excluding taxes of 25,304 for the period; cumulative June 28, 2005 to December 31, 2019: fees 9,302,462 plus taxes 516,858. Legal fees for the period 95,441 (cumulative 2,387,679). · party: Receiver and Manager (Deloitte Restructuring Inc.) · amount: 498115 · period: April 1, 2016 to December 31, 2019 · currency: CAD
- receipts cumulativenote: Total Receipts to December 31, 2019, including 23,363,012 cash and short term investments on hand at appointment; 5,041,270 received April 1, 2016 to December 31, 2019. · since: June 28, 2005 (Receiver's appointment) · amount: 113111529 · currency: CAD
- recovery outcomeentries: basis: actual · quote: As at December 31, 2019, the Receiver had paid out approximately $53.7 million, or approximately 98%, of the first interim distribution, and approximately $6.7 million of the Class Actions settlements. · pct of: unstated · outcome: distribution · pct low: 98 · pct high: 98 · class key: equity · stated by: receiver · amount low: 53700000 · amount high: 53700000 · class label: Class A and Class I shareholders (first interim distribution) · interim final: interim · claims qualifier: unstated; basis: actual · quote: As at December 31, 2019, the Receiver had paid out approximately $8.6 million, or 96%, of the second interim distribution, however, there remains approximately $0.4 million in unclaimed distributions. · pct of: unstated · outcome: distribution · pct low: 96 · pct high: 96 · class key: equity · stated by: receiver · amount low: 8600000 · amount high: 8600000 · class label: Class A and Class I shareholders (second interim distribution) · interim final: interim · claims qualifier: unstated; basis: actual · quote: As at December 31, 2019, the Receiver had paid out approximately $8.1 million, or 94%, of the third interim distribution and approximately $0.6 million of the remaining Class Actions settlements. · pct of: unstated · outcome: distribution · pct low: 94 · pct high: 94 · class key: equity · stated by: receiver · amount low: 8100000 · amount high: 8100000 · class label: Class A and Class I shareholders (third interim distribution) · interim final: interim · claims qualifier: unstated · stated on: 2020-01-17 · table missing:
- report date17 January 2020
1 extracted value is withheld: either a trap-shaped field where models produce confident wrong numbers, or an identity value whose quotation could not be found in the document. Withheld values are shown to no one.