Class Actions / Litigation
ABCP Under $1MM Estimated Settlement Amounts
To ABCP Noteholders
We take compound pleasure in reporting to you that the CCAA Restructuring Plan for Canadian Third Party ABCP Noteholders at all levels, be they retail, institutional, corporate or otherwise, has now been successfully implemented in accordance with the CCAA Amended Plan.
With respect to the 'Under $1MM' ABCP Retail Noteholders, the Canaccord and Credential Relief Plans are nearing completion and implementation.
Please see the following current estimates for the Canaccord and Credential Under $1 Million ABCP Retail Customers Relief Plan cash settlement amounts.
Canaccord and Credential Under $1 Million ABCP Retail Customers Relief Plan |
||||||
Principal |
Accrued Interest |
Restructuring Costs |
Total |
# of Beneficiaries |
Avg. Per Beneficiary |
|
Canaccord |
$138.3 |
$6.7 |
$0.8 |
$145.8 |
1,435 |
$101,597 |
Credential |
$38.8 |
$1.9 |
$0.2 |
$40.9 |
335 |
$122,095 |
Total |
$177.1 |
$8.5 |
$1.1 |
$186.7 |
1,770 |
$105,476 |
Assumed Rate |
3.40% |
0.60% |
||||
Number of Months |
17 |
|||||
Should you have any questions concerning your position, be it specific or general, please contact us at your earliest convenience.
Sincerely,
Juroviesky & Ricci LLP
Henry Juroviesky
Email: hj@jurviesky.com
Diane Urquhart
Email: urquhart@rogers.com
If You Are An 'Over $1MM ABCP Retail Noteholder', Please See The
Following:
Important Court Documents
- Initial Representative Co-Counsel Order of the Court - PDF
- Reasons for Decision - 2009 Amended Restructuring Plan - PDF
- Sanction Order - PDF
- ABCP CCAA Initial Order - PDF
- Plan Sanction Reasons for Decision - PDF
What is Juroviesky & Ricci LLP Doing For You?
- Letter to Minister of Finance
December 11, 2008 - PDF - Media Release - Juroviesky and Ricci LLP on Government Provision of Financial Backstop Guarantee
December 22, 2008 - PDF - Letter to Ministers of Finance
January 5, 2009 - PDF - Presentation made to Investment Industry Regulatory Organization of Canada (IIROC) - PDF
- Presentation made to the Ontario Securities Commission (OSC) - PDF
- Three Webinars detailing all lateral alternatives that J&R and Diane Urquhart are pursuing to force a "top up" settlement for ABCP retail noteholders that do not have any or are not eligible for full cash settlements
- Further meetings are planned with Provincial and federal levels of government to discuss/broker a possible solution.
Interesting Links
- Great Wall Street Swindle & Shady Practices in Canada
- Canadian Asset-Backed Commercial Paper Restructuring
- Purdy Crawford Faces Canadian ABCP Retail Noteholders in Public Meetings
- ABCP Under $1MM Estimated Settlement Amounts
- Russell, President Investment Industry Association of Canada on Schemes in Canada
(Download MP4 - 4MB or Download MP3 - 1MB) - YouTube Videos
An Invitation to Speak with a Member of the ABCP Legal Team
If you are an 'over $1MM ABCP Retail Noteholder' and you do not currently have and/or are not eligible for a full cash settlement, you are free [or your counsel is free] to contact Henry Juroviesky or Diane Urquhart to discuss the matter further.
Henry Juroviesky
hj@juroviesky.com
(416) 481-0718 Ext. 324
Diane Urquhart
urquhart@rogers.com
(905) 822-7618