Ontario · CCAA
Sixteenth Report of the Monitor dated February 18, 2021
Court officer report · 18 February 2021
Also filed as: Twelfth Report of the Proposal Trustee dated February 18, 2021
A plain-language read of this filing opens with a subscription.
What we verified from this filing2 verified
- fee scheduleengagements: form: prose · rows: · money: approximate: false · period: kind: unstated · approval: state: unstated · averages: rate: 577.85 · quote: The average hourly rates for KSV and Bennett Jones for the referenced billing periods were $577.85 and $511.70, respectively. · scope: KSV · currency: · invoices: · firm text: KSV Restructuring Inc. · firm quote: KSV Restructuring Inc. · context quote: KSV Restructuring Inc. ('KSV') was appointed monitor (in such capacity, the 'Monitor') · context unverified: true; form: prose · rows: · money: approximate: false · period: end: 2021-01-31 · kind: invoice · quote: for the period between November 1, 2020 and January 31, 2021 · start: 2020-11-01 · approval: state: unstated · averages: rate: 511.7 · quote: The average hourly rates for KSV and Bennett Jones for the referenced billing periods were $577.85 and $511.70, respectively. · scope: Bennett Jones · currency: · invoices: · firm text: Bennett Jones · firm quote: Bennett Jones · context quote: the accounts of Bennett Jones rendered to the Monitor for the fees and disbursements incurred by Bennett Jones in connection with these proceedings for the period between November 1, 2020 and January 31, 2021.
- recovery outcomeentries: basis: actual · quote: As reflected in the table above, as at the date of this Report, the Monitor has distributed from the Surplus: (a) the full amount owing to 2557725 Ontario Inc.; and (b) approximately $4.4 million, representing 50% of the amounts owing to the other secured creditors. · pct of: unstated · outcome: distribution · pct low: 50 · pct high: 50 · class key: secured · stated by: monitor · amount low: 4400000 · amount high: 4400000 · class label: other secured creditors (claims against Mr. Wang) · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: In light of the foregoing, the Monitor believes it is appropriate for it to be authorized and directed to make an initial distribution to 259 Inc. in the amount of approximately $6,500 from the Surplus (the "Proposed Distribution") (which is representative of approximately 50% of the secured claim of 259 Inc. against Mr. Wang). · pct of: unstated · outcome: distribution · pct low: 50 · pct high: 50 · class key: secured · stated by: monitor · amount low: 6500 · amount high: 6500 · class label: 259 Inc. (secured claim against Mr. Wang, 186 Old Kennedy Road) · creditor name: 2592898 Ontario Inc. · interim final: unstated · claims qualifier: unstated · stated on: 2021-02-18 · table missing: