Alberta · CCAA
Vita Crystallina 2023 Annual Report
Court officer report · 31 May 2024
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 filing6 verified
- cash on handnote: Reported in $000's as 91; the exhibit's ending-balance row is mislabelled 'December 31, 2022', but Exhibit 2.0 and Exhibit 3.0 both state the ending cash balance / cash on hand as at December 31, 2023 as 91. Estimated funds available for distribution are $72,000. · as at: 2023-12-31 · amount: 91000 · currency: CAD
- operational summaryVita's property was monetized earlier (the Vita LDP sold in 2018) and no further trailing cost recoveries are expected; administration is expected to be completed during 2024. No distributions were made in 2023.
- professional feesnote: Approximate; relates to the Monitor's fees in administering the CCAA proceedings. · party: Monitor (Ernst & Young Inc.) · amount: 21000 · period: January 1, 2023 to December 31, 2023 · currency: CAD
- recovery outcomeentries: basis: actual · quote: The Monitor made an aggregate distribution of $900,000 to Claimants in December 2019, representing approximately 29% of the value of proven claims filed against Vita. · pct of: proven_claims · outcome: distribution · pct low: 29 · currency: CAD · pct high: 29 · class key: unsecured · stated by: monitor · amount low: 900000 · cumulative: false · amount high: 900000 · class label: Claimants (unsecured creditors with proven claims) · interim final: unstated · currency quote: All references to dollars are in Canadian currency unless otherwise noted. · claims qualifier: unstated; basis: actual · quote: In August 2022, the Monitor made a second distribution of $372,000 to the Claimants, representing 12% of the total value of proven claims. · pct of: proven_claims · outcome: distribution · pct low: 12 · currency: CAD · pct high: 12 · class key: unsecured · stated by: monitor · amount low: 372000 · cumulative: false · amount high: 372000 · class label: Claimants (unsecured creditors with proven claims) · interim final: unstated · currency quote: All references to dollars are in Canadian currency unless otherwise noted. · claims qualifier: unstated; basis: actual · quote: The aggregate recover to the Claimants as at December 31, 2022 was 41%. · pct of: unstated · outcome: distribution · pct low: 41 · currency: CAD · pct high: 41 · class key: unsecured · stated by: monitor · cumulative: true · class label: Claimants (unsecured creditors with proven claims) · interim final: unstated · currency quote: All references to dollars are in Canadian currency unless otherwise noted. · claims qualifier: unstated; basis: estimated · quote: As shown in Exhibit 2.0 below, $72,000 is estimated to be available for distribution to the Claimants. · pct of: unstated · outcome: distribution · currency: CAD · class key: unsecured · stated by: monitor · amount low: 72000 · cumulative: false · amount high: 72000 · class label: Claimants (unsecured creditors with proven claims) · interim final: unstated · currency quote: All references to dollars are in Canadian currency unless otherwise noted. · claims qualifier: unstated; basis: estimated · quote: As at December 31, 2023, total distributions of $1,270,000 have been made to the Claimants and based on the estimated funds available for distribution of $72,000, the total estimated recovery to the Claimants is 46%. · pct of: unstated · outcome: distribution · pct low: 46 · currency: CAD · pct high: 46 · class key: unsecured · stated by: monitor · cumulative: true · class label: Claimants (unsecured creditors with proven claims) · claims amount: 3091000 · interim final: unstated · currency quote: All references to dollars are in Canadian currency unless otherwise noted. · claims qualifier: proven · stated on: 2024-05-31 · table missing:
- report date31 May 2024
- report no2023 Annual Report