Jung Developments
CCAA Filing Information
This page is for information purposes only and you should consult your professional adviser if you have any questions or are uncertain as to your rights or obligations.
Status of File as at June 8, 2011
June 18, 2009 an interim dividend was issued. At this time, there are two creditor claims that have been disputed and are pending resolution by the Court. There is no estimated timing on a resolution.
Please visit this page periodically for further updates.
Status of File as at February 10, 2009
On February 10, 2009, the Supreme Court of British Columbia (the "Court") issued an Order appointing PricewaterhouseCoopers Inc. as Receiver of certain assets of the Petitioners, as defined in the Initial Order.
Status of File as at December 5, 2008
At the December 3rd, 2008, Court hearing, the Letter of Intent of Concord Development Properties Inc. ("Concord") was selected, by the Monitor and by Lehman Brothers Holdings Inc. ("Lehman"), as the highest and best proposal, and Lehman was authorized by the Court to negotiate with Concord to conclude the terms of a Definitive Agreement on or before December 19th, 2008. The next scheduled Court hearing date is December 19th, 2008, at which time it is anticipated that the Definitive Agreement with Concord will be approved by the Court and implemented. The stay of proceedings in the CCAA process was extended to January 15th, 2009.
Status of File as at December 2, 2008
At the hearing on December 1, 2008, the Stay Period was extended to December 3, 2008. A copy of the Monitor's third report to Court is available on this website below the heading "Monitor's Reports". A copy of the Court Order will be available on this website shortly.
Status of File as at November 21, 2008
At the hearing on November 21, 2008, the Stay Period was extended to December 1, 2008. A copy of the Monitor's second report to Court is available on this website below the heading "Monitor's Reports". A copy of the Court Order is also available on this website below the heading "Court Orders".
Status of File as at November 12, 2008
Order dated November 12, 2008, approved the extension of the Stay Period to November 21, 2008. A copy of the Order is available on this website under the heading "Court Orders" and a copy of the Monitor's first report to Court is available on this web site below the heading "Monitor's Reports".
Status of File as at October 15, 2008
On October 15, 2008, the Supreme Court of British Columbia (the "Court"), granted an Order (the "Initial Order") providing protection for Jung Developments Inc. (the "Applicant") pursuant to Companies' Creditors Arrangement Act ("CCAA") and PricewaterhouseCoopers Inc. ("PwCI") was named as Monitor (the "Monitor"). A stay of proceedings was granted until November 12, 2008 (the "Stay Period"). A copy of the Initial Order is available on this web site below under the heading "Court Orders".
Status of File as at October 15, 2008
Pursuant to the Initial Order, the Applicant shall send a notice to its known creditors and shareholders, other than employees and creditors to which the Applicant owes less than $250, notifying them of this filing and the address of the Monitor's website where a copy of the Initial Order is posted.
Status of File as at October 15, 2008
Jung Developments Inc. filed for protection under the Companies' Creditors Arrangement Act on October 15, 2008.
For Further Information: Please call Amanda Koning at +1 604 806 7050 ext. 4931, Christopher A. Stocco at +1 604 806 7163 and Jim M. Crooks at +1 604 806 7306
This Web site will be updated as information becomes available.
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Order Amending Jung Developments Inc Receivership Order, dated April 8, 2009. |
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Order appointing PwC Inc. as Receiver of Myung Soo Jung, Yuksung Korea Co. Ltd. and Jung Development Co. Ltd., dated February 19, 2009. |
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Order approving extension of the stay up to February 10, 2009, dated January 30, 2009. |
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Restructuring Order, dated February 10, 2009. |
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Order appointing PwC as Receiver, dated February 10, 2009. |
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Order granting access to JDI's office premises, dated February 12, 2009. |
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Court order, 2008-11-21, approved the extension of the stay period to 2008-12-01 |
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Court order, dated December 19, 2008. |
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Order, dated December 3, 2008, approved the extension of the stay period to January 15, 2009. |
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Order, dated December 3, 2008. |
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Order, dated November 12, 2008, approved the extension of the Stay Period to November 21, 2008. |
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Initial Order, dated October 15, 2008. |
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Monitor and Receiver's Tenth Report to the Court, dated April 7, 2009. |
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Monitor and Receiver's Ninth Report to the Court, dated March 18, 2009. |
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Monitor and Receiver's Eight Report to the Court, dated March 11, 2009. |
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Monitor and Receiver's Seventh Report to the Court, dated February 18, 2009. |
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Monitor's Sixth Report to the Court, dated February 9, 2009. |
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Monitor's Fifth Report to Court, dated January 29, 2009. |
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Monitor's Fourth Report to Court, dated December 18, 2008. |
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Monitor's Third Report to Court, dated November 27, 2008. |
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Monitor's Second Report to Court, dated November 19, 2008. |
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Monitor's First Report to Court, dated November 9, 2008. |
Motion Materials:
Creditors Communication:
