Quebec · NOI
Proposal – dated June 1, 2015
Proposal document · 1 June 2015
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing1 verified
- recovery outcomeentries: basis: plan · quote: (a) owing to Her Majesty in right of Canada or a Province that could be subject to a demand under Section 224 (1.2) of the Income Tax Act, or under any substantially similar provision of provincial legislation, outstanding at the time of the filing of the Notice of Intention, will be paid in full within six (6) months after the Approval, as per the Act; · pct of: unstated · outcome: paid_in_full · class key: deemed_trust · stated by: debtor · class label: Creditors owing amounts under Section 224(1.2) of the Income Tax Act (Her Majesty in right of Canada or a Province) · interim final: unstated · claims qualifier: unstated; basis: plan · quote: (b) owing to employees and former employees, that they would have been entitled to receive under Paragraph 136(1)(d) of the Act if the employer became bankrupt on the date of the filing of the Notice of Intention, as well as wages, salaries, commissions or compensation for services rendered after that date and before the Approval, will be paid in full immediately after the Approval as per the Act. · pct of: unstated · outcome: paid_in_full · class key: preferred · stated by: debtor · class label: employees and former employees (Preferred Claims under Paragraph 136(1)(d)) · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Preferred Claims: The payment of the Preferred Claims other than those referred to in Section 3(b) hereof will be paid in full in priority to all Unsecured Claims, thirty (30) days after the Approval; · pct of: unstated · outcome: paid_in_full · class key: preferred · stated by: debtor · class label: Preferred Claims (other than Section 3(b)) · interim final: unstated · claims qualifier: unstated; basis: plan · quote: (1) the lesser of: (i) the amount of the Proven Claim of such Unsecured Creditor and (ii) $1,800 (the "First Level Distribution") which amount, subject to paragraph e) below, shall be received within (i) thirty (30) days after the Approval for all the Unsecured Creditors other than the Employee Creditors and (ii) fifteen (15) days of the receipt by the Trustee of the required governmental confirmations in respect of the Employees Creditors only; · pct of: unstated · outcome: distribution · class key: unsecured · stated by: debtor · amount low: 1800 · amount high: 1800 · class label: Unsecured Creditors with a Proven Claim · interim final: unstated · conditional on: 100% up to $1,800 (First Level Distribution); pro rata share of remaining Proven Claim from balance of Settlement Fund thereafter (Second Level Distribution), paid 80% within 30 days and 20% within 90 days after Approval · claims qualifier: unstated; basis: plan · quote: (a) an amount of $600,000 to be paid to the Employees Creditors on a pro rata basis of their respective Proven Claim. · pct of: unstated · outcome: distribution · class key: preferred · stated by: debtor · amount low: 600000 · amount high: 600000 · class label: Employees Creditors (Gores Contribution) · interim final: unstated · conditional on: pro rata basis of respective Proven Claim · claims qualifier: unstated · table missing: