Ontario · CCAA
Fifth Report of the CCAA Monitor dated February 26, 2024
Court officer report · 26 February 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 filing2 verified
- fee scheduleengagements: form: prose · rows: · money: approximate: false · period: kind: unstated · approval: state: unstated · averages: rate: 524.68 · quote: The average hourly rates for KSV and NRF for the referenced billing periods were $524.68 and $737.61, respectively. · scope: KSV · currency: · invoices: · firm text: KSV Restructuring Inc. · firm quote: KSV Restructuring Inc. as Monitor of Validus Power Corp. and 1000745924 Ontario Inc. · context quote: Fifth Report to Court of KSV Restructuring Inc. as Monitor of Validus Power Corp. and 1000745924 Ontario Inc.; form: prose · rows: · money: approximate: false · period: kind: unstated · approval: state: unstated · averages: rate: 737.61 · quote: The average hourly rates for KSV and NRF for the referenced billing periods were $524.68 and $737.61, respectively. · scope: NRF · currency: · invoices: · firm text: NRF · firm quote: The average hourly rates for KSV and NRF for the referenced billing periods were $524.68 and $737.61, respectively. · context quote: The average hourly rates for KSV and NRF for the referenced billing periods were $524.68 and $737.61, respectively.
- recovery outcomeentries: basis: estimated · quote: The Monitor does not expect there will be funds available for distribution to unsecured creditors of VPC and/or ResidualCo. · pct of: unstated · outcome: nil · class key: unsecured · stated by: monitor · class label: unsecured creditors of VPC and/or ResidualCo · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: Given the value of Macquarie's secured claim, there would be no funds available for distribution to any of the Validus Entities' creditors subordinate to Macquarie under any other realization scenario. · pct of: unstated · outcome: nil · class key: unsecured · stated by: monitor · class label: the Validus Entities' creditors subordinate to Macquarie · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: In other words, there would be no funds available for distribution to these creditors under any circumstance based on the economics of the Transaction and lack of viable alternatives, as outlined above. · pct of: unstated · outcome: nil · class key: unsecured · stated by: monitor · class label: creditors to which liabilities transferred to ResidualCo are owed · interim final: unstated · claims qualifier: unstated · stated on: 2024-02-26 · table missing: