Ontario · Receivership (court-appointed)
Supplementary Motion Record of the Receiver dated March 11, 2024
Application / notice of application · 11 March 2024
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What we verified from this filing1 verified
- recovery outcomeentries: basis: unstated · quote: The Receiver is willing to pay these amounts to sub-contractors, notwithstanding that the subcontractors' claims are unsecured, as these settlements result in full recovery to Allied of amounts owing by the Customers, including a surplus amount after all subcontractors are paid. · pct of: unstated · outcome: paid_in_full · class key: unsecured · stated by: receiver · class label: sub-contractors · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: Accordingly, regardless of who, as between Bridging and the LMS Secured Creditors, has priority to the proceeds of the LMS Units, all super-priority claims will be paid in full. · pct of: unstated · outcome: paid_in_full · class key: deemed_trust · stated by: receiver · class label: super-priority claims (CRA and section 81.4 and 81.6 BIA) · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: Accordingly, it is the Receiver's expectation that no future distributions will be available for any creditors, including unsecured creditors, other than Bridging. · pct of: unstated · outcome: nil · class key: unsecured · stated by: receiver · class label: unsecured creditors (other than Bridging) · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: | Bridging (interim distribution) | 7,911,504 | · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · amount low: 7911504 · amount high: 7911504 · class label: Bridging · creditor name: Bridging · interim final: interim · claims qualifier: unstated · table missing: