FTI Email - Deb Payout updateFor those interested, here is the response I received from FTI regarding and update I had requested in regards to Deb payouts.
From: twin.butte [
mailto:twin.butte@fticonsulting.com]
Sent: August 22, 2017 11:17 AM
To: Alex
Subject: RE: Debenture payout update
Good morning Alex
We plan to make an application to the Courts to put forward a Court Order on Sept 13
th asking for approval of an initial partial distribution. Receiver’s Report should be released a week or so prior to this date.
As some claims are still in dispute (number and amounts are not disclosed at this time), we will be withholding a pre-determined amount for the unsettled claims and remaining fees.
We will seek to get an initial partial distribution approved for the remainder of the proceeds.
Unfortunately at this time we don’t have an exact amount as we are still waiting to finalize disputed claims.
The total return for debenture holders could possibly fall somewhere in the 60-70% range (with that being an approximate and could end up higher or lower).
The trustee will receive the payment on behalf of debenture holders and will be their responsibility to distribute it out.
Hopefully that initial partial payment will be made shortly after we received court approval on the 13
th.
Please follow our website for updates going forward.
https://cfcanada.fticonsulting.com/TwinButte/ Lindsay Shierman, CPA CA Senior Consultant, Corporate Finance & Restructuring
FTI Consulting Suite 720, 440 – 2
nd Avenue SW
Calgary, AB T2P 5E9 Canada
www.fticonsulting.com