Alberta · CCAA
Walton Ontario Land 1 Corporation - 2019 Annual Report
Court officer report · 1 June 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 filing9 verified
- cash on handnote: Ending cash balance shown as a dash (nil) in the statement of receipts and disbursements; the Monitor determined no remaining funds were available for distribution after completing all remaining activities. · as at: 2019-12-12 · amount: 0 · currency: CAD
- closing confirmedscope: the Ontario Land PDLI · outcome: completed · effective: 2018-10-24 · purchaser: 10987077 Canada Inc. · date basis: stated · approval order date: 2018-10-19
- operational summaryOntario Land's property was sold in 2018, all proven unsecured claims were paid, and the Monitor completed remaining wind-up tasks. Ontario Land was dissolved on December 12, 2019, with no funds left for distribution.
- professional feesnote: Described as approximately $281,000. Separately, a $123,000 CCAA fee reallocation reimbursed WIGI Restructured Bond Corporation for CCAA professional fees incurred since April 28, 2017. Management fees of approximately $182,000 were also paid to WGIL. · party: Monitor (Ernst & Young Inc.), Monitor's legal counsel and Ontario Land's legal counsel · amount: 281000 · period: January 1, 2019 to December 12, 2019 · currency: CAD
- purchaser10987077 Canada Inc.
- recovery outcomeentries: basis: actual · quote: The Monitor distributed approximately $1.37 million to the unsecured creditors of Ontario Land in January 2019. · pct of: unstated · outcome: paid_in_full · currency: CAD · class key: unsecured · stated by: monitor · amount low: 1370000 · amount high: 1370000 · class label: unsecured creditors of Ontario Land · interim final: unstated · currency quote: All references to dollars are in Canadian currency unless otherwise noted. · claims qualifier: unstated; basis: actual · quote: permitted the Monitor to make an aggregate distribution to the limited partners of WOLLP of $8.56 million, representing an aggregate estimated recovery of 84% to equity · pct of: unstated · outcome: distribution · pct low: 84 · currency: CAD · pct high: 84 · class key: equity · stated by: monitor · amount low: 8560000 · cumulative: true · amount high: 8560000 · class label: limited partners of WOLLP · interim final: unstated · currency quote: All references to dollars are in Canadian currency unless otherwise noted. · claims qualifier: unstated · stated on: 2020-05-31 · table missing:
- report date31 May 2020
- report no2019 Annual Report
- sale outcometext: The Ontario Land PDLI was sold to 10987077 Canada Inc. in the 2018 SISP · scope: whole_business · status: closed