Ontario · Winding-up (provincial)
Third Report of the Liquidator dated December 3, 2012
Court officer report · 3 December 2012
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 May 4, 2012, the Liquidator distributed $44.5 million in cash and 2,661,449 shares of Xceed Mortgage Corporation in-kind on a pro rata basis to the Company's shareholders ('First Interim Distribution'), resulting in a total distribution of approximately $3.20 per share. · pct of: unstated · outcome: distribution · class key: equity · stated by: liquidator · amount low: 44500000 · cumulative: false · amount high: 44500000 · class label: Coventree's registered shareholders · interim final: interim · claims qualifier: unstated; basis: estimated · quote: Accordingly, the Liquidator is seeking Court approval to make a Second Interim Distribution of up to $0.58 per share, being approximately $8.8 million, to the Company's shareholders, upon receiving the Settlement Funds, calculated as follows · pct of: unstated · outcome: distribution · class key: equity · stated by: liquidator · amount low: 8800000 · cumulative: false · amount high: 8800000 · class label: Coventree's registered shareholders · interim final: interim · conditional on: upon receiving the Settlement Funds from Navigators · claims qualifier: unstated · stated on: 2012-12-03 · table missing: