Ontario · CCAA
Sixteenth Report of the Monitor dated June 15, 2018
Court officer report · 15 June 2018
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 filing1 verified
- recovery outcomeentries: basis: actual · quote: On June 27, 2017, the Court made an order authorizing and directing the Monitor to pay a 33% dividend to creditors with admitted claims against the Bay CCAA Entities. · pct of: unstated · outcome: distribution · pct low: 33 · pct high: 33 · class key: unsecured · stated by: court · class label: creditors with admitted claims against the Bay CCAA Entities · interim final: unstated · claims qualifier: unstated; basis: actual · quote: On November 30, 2017, the Court made an order authorizing and directing the Monitor to pay in full all admitted claims, other than intercompany claims. · pct of: unstated · outcome: paid_in_full · stated by: court · class label: all admitted claims, other than intercompany claims (Bay CCAA Entities) · interim final: unstated · related party: false · claims qualifier: unstated; basis: actual · quote: the Foreign Representative subordinated repayment of the Shareholder Loans to all currently admitted claims against the Cumberland Entities (but not to any currently disputed claims) such that all currently admitted claims have been repaid in full. · pct of: unstated · outcome: paid_in_full · stated by: monitor · class label: currently admitted claims against the Cumberland Entities · interim final: unstated · conditional on: UCI's Shareholder Loans subordinated to all currently admitted claims but not to currently disputed claims · claims qualifier: unstated; basis: actual · quote: Approximately $6.6 million of UCI's claim against the Cumberland Entities remains unpaid. · pct of: unstated · outcome: shortfall · class key: unsecured · stated by: monitor · class label: UCI (Shareholder Loans) · creditor name: UCI · interim final: unstated · related party: true · claims qualifier: unstated · shortfall amount: 6600000; basis: unstated · quote: TFCC would receive $3 million in full and final satisfaction of the TFCC Guarantee Claim; · pct of: unstated · outcome: distribution · class key: secured · stated by: monitor · amount low: 3000000 · amount high: 3000000 · class label: TFCC · creditor name: TFCC · interim final: unstated · conditional on: TFCC/UCI Settlement subject to approval by the Court and the Israeli Court · claims qualifier: unstated; basis: unstated · quote: UCI's Late Filed Claim would be admitted and UCI would receive an initial distribution of at least $5.5 million at the same time the $3 million is paid to TFCC; and · pct of: unstated · outcome: distribution · class key: unsecured · stated by: monitor · amount low: 5500000 · amount high: 5500000 · class label: UCI · creditor name: UCI · interim final: unstated · conditional on: TFCC/UCI Settlement subject to approval by the Court and the Israeli Court · claims qualifier: unstated · stated on: 2018-06-15 · table missing: