Alberta · Bankruptcy
Third Report of the Proposal Trustee (December 31, 2019)
Court officer report · 31 December 2019
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What we verified from this filing4 verified
- purchaser1234600 B.C. Ltd.
- recovery outcomeentries: basis: estimated · quote: The APA will allow for the full payout of priority payables and ESW's obligations (as agreed to by ESW on the amount to be paid) and it is expected that there will be substantial recoveries to unsecured creditors. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: proposal_trustee · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: There will be no recoveries to the Company's shareholders. · pct of: unstated · outcome: nil · class key: equity · stated by: proposal_trustee · class label: shareholders · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: The Purchase Price under the APA is sufficient to: (a) pay out the charges created by this Court in its December 6, 2019 and December 16, 2019 Orders, (b) pay the principal, interest and costs owing to ESW under the Credit Agreement, and (c) pay a substantial dividend to unsecured creditors in the within proceedings. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: proposal_trustee · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated · stated on: 2019-12-31 · table missing:
- sale advisorCanaccord Genuity Corp.
- sale outcometext: the Company's application for the approval of the sale transaction contemplated by an asset purchase agreement · scope: whole_business · status: pending_approval