Maple Bank | KPMG | CA

Maple Bank

Maple Bank

Creditor and stakeholder information

Creditor and stakeholder information

Introduction

On February 16, 2016, the Attorney General of Canada filed an application before the Commercial List of the Ontario Superior Court of Justice (the “Court”) in respect of Maple Bank GmbH Canada Branch (“Maple Bank”) pursuant to the Winding-up and Restructuring Act, R.S.C 1985, c. W-11, as amended ("WURA").

The Court made an order (the "Winding-up Order") on February 16, 2016 and appointed KPMG Inc. as liquidator, in respect of the winding up of Maple Bank and of the assets, as defined in section 618 of the Bank Act, S.C. 1991, c.46, as amended, (the “Bank Act”) of Maple Bank.

 

Interim Distribution

On November 16, 2016, The Liquidator filed materials in advance of a motion to be heard on November 18, 2016 (the “November 18 Hearing”) which sought approval for an Interim Distribution (“Interim Distribution”). The Interim Distribution Order (“Interim Distribution Order”) sets out a distribution on or after December 19, 2016 to Maple Bank’s creditors who have submitted a proof of claim that has been accepted and admitted by the Liquidator. At the November 18 Hearing, the Court approved the conversion and / or hedging of Maple Bank’s Canadian funds into Euros to mitigate the foreign exchange risk of Maple Bank’s German stakeholders. 

On November 25, 2016, the Court issued the Distribution Order which authorizes the Liquidator to make a distribution to creditors of the Toronto Branch with Proven Claims (that have been allowed in whole or in part), inclusive of statutory interest in the amount of 5% per annum in accordance with section 158.1(2) of the WURA, on, or after the Distribution Date (being December 19, 2016).The Court also approved the posting of a notice of the Interim Distribution, notifying creditors with claims against Toronto Branch that wish to participate in the Interim Distribution to file their claims with the Liquidator before 4:00pm EST on December 16, 2016.

On December 9, 2016, the Court adjourned the Liquidator’s motion for the approval of Principal Officer Claims Bar Process until December 22, 2016.

On December 22, 2016, the Court issued an endorsement that set a schedule for the Liquidator’s motion for the approval of a Principal Officer Claims Bar Process to be heard on March 7, 2016.

On January 27, 2017, the Court issued the Principal Officers Additional Claims Order and the Representative Counsel Order.

On March 3, 2017, the Liquidator issued a motion for the approval of an Interim Distribution following the passing of the Principal Officers Additional Claims period which ended on March 1, 2017.

 

Marketing Process

As part of the Marketing Process Order approved on April 5, 2016, the Liquidator has realized on substantially all of the assets of Maple Bank. Between June 21, 2016 and November 15, 2016, the Liquidator completed several transactions for Maple Branch’s assets, which were approved by the Court. Details of these transactions are described in the Liquidator’s Fourth through Eighth Reports.

 

Claims Process - General

On June 8, 2016, the Court issued an order (the “Claims Procedure Order”) approving a claims process (the “Claims Process”). For copies of all documents related to the Claims Process, please see below.

 

Principal Officers Claims Procedure

On January 27, 2017, the Court issued the Principal Officers Additional Claims Order, which approved the Principal Officers Claims Procedure. Claimants that believe they have a Principal Officers Claim are required to file a Principal Officers Proof of Claim with the Liquidator by 4:00 P.M (Eastern Time) on FEBRUARY 28, 2017. The Principal Officers Proof of Claim form can be downloaded below.

 

Contact Information

Sven Dedic
svendedic@kpmg.ca

 

Claims Process - General

Notice to Creditors of Claims Process dated June 14, 2016 [PDF 32 KB]     

Proof of Claim Form [PDF 19 KB]

Proof of Claim Instruction Letter [PDF 14 KB]

Proof of Claim Dispute Notice [PDF 12 KB]

 

Principal Officers Claims Procedure

Principal Officers Claim Form and Instruction Letter [PDF 2 MB]

 

Court Orders

Winding-Up Order dated February 16, 2016 [PDF 1 MB]

Endorsement re: Winding-Up Order dated February 16, 2016 [PDF 2 MB]

Approval of Marketing Process Order dated April 5, 2016 [PDF 2.1 MB]

Endorsement re: Approval of Marketing Process Order dated April 5, 2016 [PDF 171 KB]

Claims Procedure Order dated June 8, 2016 [PDF 4.4 MB]

Appointment Order of Independent Cost Counsel, Claims Officer and other Relief dated June 8, 2016 [PDF 950 KB]

Approval and Vesting Order re: Sale of Mortgage Assets dated June 21, 2016 [PDF 1.77 MB]

Endorsement re: Approval and Vesting Order Sale of Mortgage Assets dated June 21, 2016 [PDF 429 KB]

Approval and Vesting Order re: Immigrant Investor Notes dated July 27, 2016 [PDF 2.5 MB]

Endorsement re: Approval and Vesting Order Immigrant Investor Notes dated July 27, 2016 [PDF 443 KB]

Approval and Vesting re: Equitable transaction dated September 27, 2016 [PDF 2.7 MB]

Successor Issuer Order re: Equitable transaction dated September 27, 2016 [PDF 998 KB]

Endorsement re: Approval and Vesting Order Equitable transaction dated September 27, 2016 [PDF 805 KB]

Approval and Vesting Order and Endorsement re: Immigrant Investor Notes dated October 12, 2016 [PDF 1.7 MB]

Liquidator's Certificate re: Approval and Vesting order of Maple Assets Sales Process [PDF 602 KB]

Liquidator's Certificate re: Successor Issuer [PDF 502 KB]

Approval and Vesting Order re: BMO Sale Agreement dated November 18, 2016 [PDF 1.4 MB]

Endorsement re: Approval and Vesting Order BMO Sale Agreement dated November 18, 2016 [PDF 194 KB]

Interim Distribution Order dated November 18, 2016 [PDF 549 KB]

Distribution Order dated November 25, 2016 [PDF 1 MB]

Endorsement re: Liquidator's motion dated December 22, 2016 [PDF 586 KB]

Principal Officers Additional Claims Order dated January 27, 2017 [PDF 2 MB]

Representative Counsel Order dated January 27, 2017 [PDF 708 KB]

Endorsement re: Principal Officers Additional Claims Order dated January 27, 2017 [PDF 389 KB]

Second Distribution Order dated March 10, 2017 [PDF 847 KB]

Executive Employee Claim Order of Proceedings dated March 10, 2017 [PDF 348 KB]

Endorsement re: Executive Employee Claim order dated March 10, 2017 [PDF 1.7 MB]

Second Interim Distribution Order dated September 26, 2017 [PDF 891 KB]

 

Liquidator’s Reports

Pre-Filing Report of the Liquidator dated February 16, 2016 [PDF 2.8 MB]

First Report of the Liquidator dated March 2, 2016 [PDF 3.2 MB]

Second Report of the Liquidator dated March 30, 2016 [PDF 5.5 MB]

Third Report of the Liquidator dated June 2, 2016 [PDF 3.3 MB]

Fourth Report of the Liquidator dated June 16, 2016 [PDF 352 KB]

Fifth Report of the Liquidator dated July 25, 2016 [PDF 5.8 MB]

Sixth Report of the Liquidator dated September 19, 2016 [PDF 9.4 MB]

Seventh Report of the Liquidator dated October 6, 2016 [PDF 1.5 MB]

Eighth Report of the Liquidator dated November 16, 2016 [PDF 3.5 MB]

Ninth Report of the Liquidator dated November 16, 2016 [PDF 206 KB]

Supplement to the Ninth Report of the Liquidator dated November 25, 2016 [PDF 5.7 MB]

Second Supplement to the Ninth Report of the Liquidator dated [PDF 59 KB]

Tenth Report of the Liquidator dated January 27, 2017 [PDF 3.7 MB]

Eleventh Report of the Liquidator dated March 10, 2017 [PDF 105 KB]

Twelfth Report of the Liquidator dated September 19, 2017 [PDF 15 KB]

 

Motion Materials

Application Record dated February 16, 2016 [PDF 3.6 MB]

Applicant’s Factum dated February 16, 2016 [PDF 1.8 KB]

Motion Record Returnable March 3, 2016 [PDF 9 MB]

Motion Record Returnable April 1, 2016 [PDF 5.9 MB]

Motion Record Returnable June 21, 2016 [PDF 4.6 MB]

Motion Record Returnable July 27, 2016 [PDF 13.3 MB]

Motion Record Returnable September 27, 2016 [PDF 10.3 MB]

Motion Record Returnable October 12, 2016 [PDF 6.5 MB]

Motion Record Returnable November 16, 2016 [PDF 4.6 MB]

Motion Record Returnable November 25, 2016 [PDF 118 KB]

Motion Record returnable December 9, 2016 [PDF 912 KB]

Motion Record returnable January 27, 2017 [PDF 12.7 MB]

Motion Record Returnable March 10, 2017 [PDF 12.2 MB]

Motion Record Returnable September 26, 2017 [PDF 8.5 MB]

 

Foreign Proceedings Documents

Recognition Order with Stipulation dated March 10, 2016 [PDF 302 KB]

 

WURA Requirements

Liquidator Statement in respect of an Authorized Foreign Bank dated June 15, 2016 [PDF 25 KB]

 

Creditor Communications

Notice to Creditors dated February 18, 2016 [PDF 32 KB]

 

Service List

Service List dated June 17, 2016 [PDF 19 KB]

Connect with us

 

Request for proposal

 

Submit

KPMG CreditorLinks

KPMG is acting as Monitor, Receiver and Manager, Liquidator, or Trustee in Bankruptcy

 
Read more

Contact