Ontario · Winding-up (WURA)
Liquidator's Report - 2003.12.12
Court officer report · 12 December 2003
A plain-language read of this filing opens with a subscription.
What we verified from this filing1 verified
- recovery outcomeentries: basis: actual · quote: This Court approved a first interim distribution to policyholders and claimants of 25% of their valid and allowed claims on June 26, 2003. · pct of: unstated · outcome: distribution · pct low: 25 · pct high: 25 · class key: unsecured · stated by: liquidator · cumulative: false · class label: policyholders and claimants · interim final: interim · cents on dollar: 25 · claims qualifier: unstated; basis: actual · quote: This Court approved a first distribution of 25 cents on the dollar on valid policyholder claims. · pct of: unstated · outcome: distribution · pct low: 25 · pct high: 25 · class key: unsecured · stated by: liquidator · cumulative: false · class label: policyholders · interim final: unstated · cents on dollar: 25 · claims qualifier: unstated; basis: estimated · quote: The Liquidator has made progress in the resolution of claims and collection of reinsurance and remains confident that the estate will pay all claimants in full, although there are still many uncertainties. · pct of: unstated · outcome: paid_in_full · stated by: liquidator · class label: all claimants · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: To alleviate hardship to policyholders whose claims are not satisfied by the Payments, the Liquidator proposes to make an interim distribution of 25% of valid policyholder loss claims. · pct of: unstated · outcome: distribution · pct low: 25 · pct high: 25 · class key: unsecured · stated by: liquidator · class label: policyholders and claimants (First Distribution proposal) · interim final: unstated · cents on dollar: 25 · claims qualifier: unstated; basis: estimated · quote: Based on the past history of Reliance (Canada), the experience since the commencement of the liquidation, and the extensive work performed by the actuaries, the Liquidator remains of the view that Reliance (Canada) will pay all valid policyholder claims in full. · pct of: unstated · outcome: paid_in_full · stated by: liquidator · class label: all valid policyholder claims · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: this Court approve the First Distribution of 25% on all valid and allowed loss claims, to be calculated as set out above. · pct of: unstated · outcome: distribution · pct low: 25 · pct high: 25 · class key: unsecured · stated by: liquidator · class label: all valid and allowed loss claims (recommended First Distribution) · interim final: unstated · cents on dollar: 25 · claims qualifier: unstated · stated on: 2003-12-12 · table missing: