Alberta · CCAA
Monitor’s Fourth Report to Court
Court officer report · 28 May 2013
A plain-language read of this filing opens with a subscription.
What we verified from this filing1 verified
- recovery outcomeentries: basis: estimated · quote: The Monitor confirms that based on the offers received by the Bid Deadline, the Lending Syndicate will suffer a significant shortfall on account of Poseidon's indebtedness. · pct of: unstated · outcome: shortfall · class key: secured · stated by: monitor · class label: Lending Syndicate · creditor name: Secured Lending Syndicate · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: Based on this shortfall, it is unlikely there will be any distribution to the Company's unsecured creditors or shareholders from recoveries through the Company's assets; · pct of: unstated · outcome: nil · class key: unsecured · stated by: monitor · class label: the Company's unsecured creditors · interim final: unstated · conditional on: Based on this shortfall to the Lending Syndicate · claims qualifier: unstated; basis: estimated · quote: Based on this shortfall, it is unlikely there will be any distribution to the Company's unsecured creditors or shareholders from recoveries through the Company's assets; · pct of: unstated · outcome: nil · class key: equity · stated by: monitor · class label: shareholders · interim final: unstated · conditional on: Based on this shortfall to the Lending Syndicate · claims qualifier: unstated; basis: unstated · quote: To the extent that the Class Action Plaintiffs are shareholders of the Company, they have an equity claim and they will not be entitled to any distribution in these proceedings unless both the creditors are paid out in full; and, · pct of: unstated · outcome: nil · class key: equity · stated by: monitor · class label: Class Action Plaintiffs (as shareholders) · interim final: unstated · conditional on: unless both the secured and unsecured creditors are paid out in full · claims qualifier: unstated · stated on: 2013-05-28 · table missing: