Ontario · Receivership (court-appointed)
Third Report of the receiver dated April 24, 2020
Court officer report · 24 April 2020
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 filing1 verified
- recovery outcomeentries: basis: estimated · quote: Therefore, it continues to appear that the Term Loan Lenders will incur a substantial shortfall on their advances to the Chapter 11 Debtors and, accordingly, no funds will be available for distribution to unsecured creditors. · pct of: unstated · outcome: shortfall · class key: secured · stated by: receiver · class label: Term Loan Lenders · creditor name: Term Loan Lenders · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: Therefore, it continues to appear that the Term Loan Lenders will incur a substantial shortfall on their advances to the Chapter 11 Debtors and, accordingly, no funds will be available for distribution to unsecured creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: receiver · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: The Chapter 11 Debtors did not seek recognition of the Claims Process Order in Canada given, inter alia , that there will not be any funds available for distribution to unsecured creditors of any of the Chapter 11 Debtors and that claims against the Canadian Debtors were to be addressed on the same basis as those filed against the US Debtors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: receiver · class label: unsecured creditors of any of the Chapter 11 Debtors · interim final: unstated · claims qualifier: unstated · stated on: 2020-04-24 · table missing: