Ontario · CCAA
Monitor's Fifth Report (Sanction)
Court officer report · 9 June 2010
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 filing5 verified
- purchaser324
- recovery outcomeentries: basis: plan · quote: | >250 | 16 | <2% | · pct of: unstated · outcome: distribution · pct low: 2 · pct high: 2 · class key: unsecured · stated by: monitor · class label: Affected Creditors, Proven Claim >$250,000 · interim final: unstated · conditional on: assuming all unresolved claims are resolved in favour of the claimant · claims qualifier: unstated; basis: plan · quote: | 100-250 | 15 | 2%-4% | · pct of: unstated · outcome: distribution · pct low: 2 · pct high: 4 · class key: unsecured · stated by: monitor · class label: Affected Creditors, Proven Claim $100,000-250,000 · interim final: unstated · conditional on: assuming all unresolved claims are resolved in favour of the claimant · claims qualifier: unstated; basis: plan · quote: | 50-100 | 79 | 4%-7% | · pct of: unstated · outcome: distribution · pct low: 4 · pct high: 7 · class key: unsecured · stated by: monitor · class label: Affected Creditors, Proven Claim $50,000-100,000 · interim final: unstated · conditional on: assuming all unresolved claims are resolved in favour of the claimant · claims qualifier: unstated; basis: plan · quote: | 25-50 | 124 | 7%-14% | · pct of: unstated · outcome: distribution · pct low: 7 · pct high: 14 · class key: unsecured · stated by: monitor · class label: Affected Creditors, Proven Claim $25,000-50,000 · interim final: unstated · conditional on: assuming all unresolved claims are resolved in favour of the claimant · claims qualifier: unstated; basis: plan · quote: | 10-25 | 153 | 14%-33% | · pct of: unstated · outcome: distribution · pct low: 14 · pct high: 33 · class key: unsecured · stated by: monitor · class label: Affected Creditors, Proven Claim $10,000-25,000 · interim final: unstated · conditional on: assuming all unresolved claims are resolved in favour of the claimant · claims qualifier: unstated; basis: plan · quote: | 5-10 | 52 | 33%-60% | · pct of: unstated · outcome: distribution · pct low: 33 · pct high: 60 · class key: unsecured · stated by: monitor · class label: Affected Creditors, Proven Claim $5,000-10,000 · interim final: unstated · conditional on: assuming all unresolved claims are resolved in favour of the claimant · claims qualifier: unstated; basis: plan · quote: | 1-5 | 147 | 60%-99% | · pct of: unstated · outcome: distribution · pct low: 60 · pct high: 99 · class key: unsecured · stated by: monitor · class label: Affected Creditors, Proven Claim $1,000-5,000 · interim final: unstated · conditional on: assuming all unresolved claims are resolved in favour of the claimant · claims qualifier: unstated; basis: plan · quote: | <1 | 146 | 100% | · pct of: unstated · outcome: paid_in_full · pct low: 100 · pct high: 100 · class key: unsecured · stated by: monitor · class label: Affected Creditors, Proven Claim <$1,000 · interim final: unstated · conditional on: assuming all unresolved claims are resolved in favour of the claimant · claims qualifier: unstated; basis: liquidation_alternative · quote: In the event of a liquidation of the assets, the Senior Secured Lenders will suffer a significant shortfall on their claims. · pct of: unstated · outcome: shortfall · class key: secured · stated by: monitor · class label: Senior Secured Lenders · claims amount: 102000000 · interim final: unstated · table missing: · conditional on: in the event of a liquidation of the assets · claims qualifier: unstated; basis: liquidation_alternative · quote: Accordingly, there would be no recoveries for unsecured creditors in the event of a liquidation of the Applicant's assets. · pct of: unstated · outcome: nil · class key: unsecured · stated by: monitor · class label: unsecured creditors · interim final: unstated · table missing: · conditional on: in the event of a liquidation of the Applicant's assets · claims qualifier: unstated; basis: liquidation_alternative · quote: If the Credit Bid Option is elected and the transactions contemplated by the APA are completed, there would be no recoveries for unsecured creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: monitor · class label: unsecured creditors · interim final: unstated · table missing: · conditional on: if the Credit Bid Option is elected and the APA transactions are completed · claims qualifier: unstated · stated on: 2010-06-09 · table missing:
- report date9 June 2010
- report noFifth Report
- sale outcometext: The Marketing Process has clearly demonstrated that there is no alternative going concern transaction available. · scope: whole_business · status: no_acceptable_bid