Alberta · CCAA
Walton Vita Crystallina Development Corporation - 2019 Annual Report
Court officer report · 1 June 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 filing8 verified
- cash on handnote: Ending cash balance per Exhibit 1.0, stated in $000's (204); a further $345,000 letter of credit was collected by the Monitor in January 2020. · as at: 2019-12-31 · amount: 204000 · currency: CAD
- closing confirmedscope: the Vita LDP · outcome: completed · effective: 2018-01-31 · purchaser: Strata Crystallina Development Corporation · date basis: stated · approval order date: 2018-01-10
- operational summaryVita's construction obligations were completed in fall 2019, with Final Acceptance Certificates received and the letter of credit released. The Monitor expects to realize remaining assets (trailing cost recoveries) and make a second and final distribution to unsecured creditors in December 2020.
- professional feesnote: Combined CCAA professional fees incurred in the Reporting Period; a further $67,000 was paid as a CCAA fee reallocation to other Walton CCAA Applicants. Management fees of approximately $260,000 were paid to WGIL. · party: Vita's legal counsel, the Monitor and the Monitor's legal counsel · amount: 24000 · period: January 1, 2019 to December 31, 2019 · currency: CAD
- purchaserStrata Crystallina Development Corporation
- 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 · pct high: 29 · class key: unsecured · stated by: monitor · amount low: 900000 · cumulative: false · amount high: 900000 · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: After the expected December 2020 distribution, which will pay out 18% of the value of remaining unsecured claims against Vita, the aggregate recovery realized by Claimants is estimated to be 42%. · pct of: unstated · outcome: distribution · pct low: 18 · pct high: 18 · class key: unsecured · stated by: monitor · cumulative: false · class label: Claimants · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: After the expected December 2020 distribution, which will pay out 18% of the value of remaining unsecured claims against Vita, the aggregate recovery realized by Claimants is estimated to be 42%. · pct of: unstated · outcome: distribution · pct low: 42 · pct high: 42 · class key: unsecured · stated by: monitor · cumulative: true · class label: Claimants · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: No funds are expected to be available to the limited partners of Walton Vita Crystallina Development Corporation LP. · pct of: unstated · outcome: nil · class key: equity · stated by: monitor · class label: limited partners of Walton Vita Crystallina Development Corporation LP · interim final: unstated · claims qualifier: unstated · stated on: 2020-05-31 · table missing:
- report date31 May 2020
- report no2019 Annual Report