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 filing4 verified
- financial positionnote: SOA discloses cash assets only: approximately $104,351 (Triangle) and $2,404,665 (Residential) held in trust; Non-Cash Assets were transferred to Urbancorp Cumberland 2 L.P. and are not valued in this report. Claims table shows Amount Filed/Allowed by type: Purported Trust Claims $3,268,603.00 filed; Secured Claims $24,449,426.61 filed / $1,872,949.42 allowed; Unsecured Claims $306,130,979.75 filed / $29,612,180.08 allowed. No consolidated total assets or liabilities figure is stated. · basis: Statement of Affairs (SOA) · scope: consolidated bankrupt estate of Edge on Triangle Park Inc. and Edge Residential Inc. · currency: CAD
- operational summaryTriangle and Residential's remaining non-cash assets have been transferred to Urbancorp Cumberland 2 L.P., which is facilitating their liquidation and settlement of Tarion audit obligations, while the Monitor continues to administer the CCAA claims process for the consolidated bankrupt estate.
- recovery outcomeentries: basis: unstated · quote: Given the uncertainty of (i) the timing and expected sales proceeds from the liquidation of the Non-Cash Assets; (ii) the appeal filed with respect to the impact of breach of trust claims in the bankruptcy; (iii) the timing and amount with respect to a settlement of the Tarion Performance Audit; and (iv) the resolution of disputed claims, the Trustee is unable to provide any estimate of anticipated distribution to creditors. · pct of: unstated · outcome: undetermined · stated by: trustee · class label: creditors · interim final: unstated · claims qualifier: unstated · stated on: 2019-03-20 · table missing:
- report date20 March 2019