Ontario · Proposal
Fifth Report of the Trustee (Ann Canada)
Court officer report · 8 October 2021
A plain-language read of this filing opens with a subscription.
What we verified from this filing6 verified
- cash on handnote: Cash held by the Trustee on behalf of Ann Canada pending distribution under the Proposal; no specific as-at date given beyond the report date. · amount: 1102061.19 · currency: CAD
- disbursementsnote: Two separate distribution figures reported rather than a single total: $2,930,889.23 to 32 unsecured creditors (excluding former employees) and $200,919.09 to 109 former employees. · since: the Effective Date (March 16, 2021) · currency: CAD
- operational summaryAnn Canada has fully liquidated its retail store inventory and ceased operations, with no assets of material realizable value remaining; the only remaining asset is cash held by the Trustee for distribution to creditors under the approved Proposal, after which a voluntary dissolution may be pursued.
- recovery outcomeentries: basis: plan · quote: Based on the value of claims, Ann Canada has sufficient funds to provide a distribution to Specified Late Filing Creditors on account of their secured claims in full or on account of their unsecured claims in an amount consistent with the pro rata distributions received to date by other unsecured creditors of Ann Canada pursuant to the terms of the Proposal. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: proposal_trustee · class label: unsecured claims (Specified Late Filing Creditors) · claims amount: 2740125.44 · creditor name: Specified Late Filing Creditors · interim final: unstated · claims qualifier: asserted; basis: plan · quote: Based on the value of claims, Ann Canada has sufficient funds to provide a distribution to Specified Late Filing Creditors on account of their secured claims in full or on account of their unsecured claims in an amount consistent with the pro rata distributions received to date by other unsecured creditors of Ann Canada pursuant to the terms of the Proposal. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: proposal_trustee · class label: secured claims (Specified Late Filing Creditors) · claims amount: 2740125.44 · creditor name: Specified Late Filing Creditors · interim final: unstated · claims qualifier: asserted; basis: plan · quote: Any Preferred Claims that may arise shall be paid in full as set forth in Section 136(1) of the BIA in priority to all Claims of Unsecured Creditors. · pct of: unstated · outcome: paid_in_full · class key: preferred · stated by: proposal_trustee · class label: Preferred Creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Amounts that were outstanding at the time of the filing of the Proposal and are of a kind that could be subject to a demand under Subsection 224(1.2) of the Income Tax Act or under provincial legislation or the Canada Pension Plan or Employment Insurance Act , in each case solely to the extent described in Section 60(1.1) of the BIA, will be paid in full within six months after Court Approval, or as agreed to by Her Majesty. · pct of: unstated · outcome: paid_in_full · class key: deemed_trust · stated by: proposal_trustee · class label: Canada Revenue Agency priority claims · creditor name: Canada Revenue Agency · interim final: unstated · claims qualifier: unstated · stated on: 2021-10-08 · table missing:
- report date8 October 2021
- report noFifth Report