Ontario · Receivership (court-appointed)
Motion Record of the Receiver returnable April 13, 2021
Application / notice of application · 13 April 2021
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What we verified from this filing1 verified
- recovery outcomeentries: basis: actual · quote: all of the debt claims owing to UCI by the Cumberland Entities (as defined in the Report) have been paid in full; · pct of: unstated · outcome: paid_in_full · class key: unsecured · stated by: monitor · class label: UCI (debt claims owing by Cumberland Entities) · creditor name: UCI · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: Given the conflicting documentation as to the beneficial owner of the Edge Geothermal Assets, the Court Officer recommends admitting a claim for ETPI equal to the value attributed to the system by Enwave ($9.574 million), less a cost allocation of $547,188 9 , for a net distribution to ETPI of $9,026,811. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: monitor · amount low: 9026811 · amount high: 9026811 · class label: ETPI · creditor name: ETPI · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: Subject to Court approval, the remaining balance will be paid to Edge Residential Inc. in respect of the claim it filed ($288,000) and to UCI (approximately $1.8 million) by way of repayment of the debt owing to it ($22,000) and the balance by intercorporate dividend to UCI (via UPHI) 10 . · pct of: unstated · outcome: distribution · class key: unsecured · stated by: monitor · amount low: 288000 · amount high: 288000 · class label: Edge Residential Inc. · claims amount: 288000 · creditor name: Edge Residential Inc. · interim final: unstated · claims qualifier: asserted; basis: unstated · quote: all admitted claims totaling $5,086,000 are paid in full. · pct of: unstated · outcome: paid_in_full · stated by: monitor · amount low: 5086000 · amount high: 5086000 · class label: all admitted claims (Bridge Geothermal Assets distribution) · claims amount: 5086000 · interim final: unstated · claims qualifier: listed; basis: unstated · quote: The Cumberland portion of the claim ($4,987,000) will be paid to UCI as it is the only remaining stakeholder of Cumberland; · pct of: unstated · outcome: distribution · class key: unsecured · stated by: monitor · amount low: 4987000 · amount high: 4987000 · class label: UCI (Cumberland portion, Bridge Geothermal Assets distribution) · creditor name: UCI · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: the balance of funds available for distribution, being $2,688,000, will be paid by intercorporate dividend to UCI via UPHI; · pct of: unstated · outcome: distribution · class key: equity · stated by: monitor · amount low: 2688000 · amount high: 2688000 · class label: UCI via UPHI (intercorporate dividend, Bridge Geothermal Assets) · creditor name: UCI · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: The Monitor intends to distribute all funds available from the sale of the Fuzion Geothermal System ($2,675,000) to UCI. · pct of: unstated · outcome: distribution · class key: secured · stated by: monitor · amount low: 2675000 · amount high: 2675000 · class label: UCI (Fuzion Geothermal System, UNKI distribution) · creditor name: UCI · interim final: unstated · claims qualifier: unstated · stated on: 2021-03-18 · table missing: