Piikani Investment Corporation

Piikani Investment Corporation filed a Division I proposal on February 6, 2014, under sections 58(d) and 59(1) of the Bankruptcy and Insolvency Act, with Grant Thornton Limited as trustee, in the Court of King's Bench of Alberta under file no. 25-1835132. The proceeding remains active. The dominant claim is that of CIBC Trust, trustee of the Piikani Nation Trust, arising from a 2002 settlement agreement: approximately $23.039 million in total, of which $14.025 million is treated as secured by promissory notes and general security agreements covering Loans 1 through 6, with the balance valued as unsecured for voting purposes. PIC's Statement of Affairs lists $9,155,421 in unsecured claims. The proposal establishes a $200,000 Unsecured Creditors' Fund, paying claims under $5,000 in full and distributing the remainder pro rata. The Proposal Trustee's administrative fees and expenses stand as the only known preferred claim.