Alberta · Receivership (court-appointed)
Filed Receiver's Second and Final report dated July 20, 2020
Court officer report · 20 July 2020
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What we verified from this filing1 verified
- recovery outcomeentries: basis: actual · quote: The majority of the assets have now been realized on by the Receiver and all creditors ranking in priority to Servus have been paid in full; therefore, the Receiver is seeking approval to distribute the balance of the proceeds held in its trust account to Servus. · pct of: unstated · outcome: paid_in_full · stated by: receiver · class label: creditors ranking in priority to Servus · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: This distribution is estimated to total approximately $13.4 million after consideration of a provision for professional fees including the fees that are anticipated to be incurred in respect of the Receiver's discharge (discussed below). · pct of: unstated · outcome: distribution · currency: CAD · class key: secured · stated by: receiver · amount low: 13400000 · amount high: 13400000 · class label: Servus Credit Union Ltd. · creditor name: Servus Credit Union Ltd. · interim final: unstated · currency quote: All monetary amounts contained herein are in Canadian dollars. · claims qualifier: unstated; basis: estimated · quote: Based on payments proposed to be made by the Receiver to Servus, and the remaining significant indebtedness due to Servus, there will be no distribution to the Company's unsecured creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: receiver · class label: the Company's unsecured creditors · interim final: unstated · claims qualifier: unstated · stated on: 2020-07-20 · table missing: