ABC District CCAA Proceedings Update 2020-09-14 Addendum

On Sept 14, 2020 Deloitte Restructuring posted two links to it’s restructuring web page, which I discussed in ABC District CCAA Proceedings Update 2020-09-14.

Today (Sept 15, 2020) a third one appeared – #316:

314. Order, dated August 24, 2020

315. Service List, dated August 31, 2020

316. Order (Final District Distribution), dated August 24, 2020

I’ve already covered #314 and #315 so I’ll discuss #316 here.

This order pertains to authorizing making the final distribution to the depositors. In order –

  • The court finds that all the required service / notifications have been met.
  • The District is authorized to take $26K of unclaimed funds and add it to the final distribution.
  • District is authorized to make the final distribution to the District creditors according ot the District Plan. The order also details where the final distribution funds came from.
  • 90 days after the final distribution is announced, any unclaimed funds are to be given to Sage Properties.
  • Any holdback funds as described in the 39th Monitor’s Report are to be divided between Foothills Lutheran and Sage Properties.
  • District is authorized to transfer ownership of 250K Lakeview Real Estate Investment Trust fixed income bonds to Sage.
  • District is authorized and directed to take do any additional steps needed to complete all the actions referred to in the Order.

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