Alberta · CCAA
Walton Canadian Land 1 Development Corporation - 2018 Annual Report
Court officer report · 31 May 2019
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: actual · quote: Proceeds from the Stony Industrial Transaction were not sufficient to fully settle the proven secured claims filed by the Stony Mortgagees. · pct of: unstated · outcome: shortfall · class key: secured · stated by: monitor · class label: Stony Mortgagees · creditor name: Stony Mortgagees · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: Based on the Monitor maintaining an Administrative Reserve of $3,377,000, the Monitor expects to make a distribution to unsecured creditors of Canadian Land (which is expected to include the Stony Mortgagees for the outstanding balance of their claims which could not be satisfied from their security) in 2019 in the amount of approximately $3.9 million. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: monitor · amount low: 3900000 · amount high: 3900000 · class label: unsecured creditors of Canadian Land · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: The forecast statement of receipts and disbursements for Canadian Land identifies that Claimants will be fully repaid via a distribution expected to be issued in 2020. · pct of: unstated · outcome: paid_in_full · class key: unsecured · stated by: monitor · class label: Claimants (unsecured creditors with proven claims) · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: | Estimated recovery to claimants | a/b | 85% | 15% | 100% | · pct of: unstated · outcome: distribution · pct low: 100 · pct high: 100 · class key: unsecured · stated by: monitor · class label: claimants (Estimated recovery to claimants) · claims amount: 4610000 · interim final: unstated · claims qualifier: proven · stated on: 2019-05-31 · table missing: