Ontario · Proposal
Scantrade International Limited - Report of Trustee.pdf
Court officer report · 26 September 2008
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What we verified from this filing8 verified
- financial positionnote: Total per Statement of Affairs summary of creditors (Preferred $6,538.44 + Secured (unstated in this table) + Unsecured $3,323,565.40 + Contingent $1,144,896.94 = $4,475,000.78 as stated document total; components reported, not computed by extractor). Assets identified: Accounts Receivable $250,000, Equipment and Leasehold Improvements $280,000, Investments in Subsidiaries $2 (nominal), Trademarks and other assets (value not stated) - net book value figures per Statement of Affairs dated September 21, 2008; estimated net recoveries from auction of assets approximately $10,000 only. · page: 9 · as at: 2008-09-21 · basis: Statement of Affairs as reported · scope: Scantrade International Limited (entity level) · currency: CAD · total liabilities: 4475000.78
- secured creditorsnote: Primary and senior secured creditor; Trustee has not obtained an opinion on BMO's security but believes it is likely legal, valid and binding; indebtedness reduced from prior amounts via forbearance agreement dated May 22, 2008 and Danbury inventory liquidation proceeds · page: 9 · as of: 2008-09-21 · amount: 1360000 · debtor: Scantrade International Limited · creditor: Bank of Montreal (BMO) · currency: CAD
- unsecured creditorsnote: Preferred claims per Statement of Affairs; document names no individual creditors; Trustee has not confirmed balance due, if any, to Preferred Creditors · page: 9 · as of: Statement of Affairs dated September 21, 2008 · basis: Statement of Affairs as reported · amount: 6538.44 · debtor: Scantrade International Limited · creditor: Preferred creditors (aggregate as reported) · currency: CAD
- unsecured creditorsnote: Unsecured claims per Statement of Affairs; document names no individual creditors; elsewhere Trustee's recommendations section states unsecured claims of approximately $1,080,000 excluding related party claims and secured creditor deficiency claims, subject to change upon filing of proofs of claim · page: 9 · as of: Statement of Affairs dated September 21, 2008 · basis: Statement of Affairs as reported · amount: 3323565.4 · debtor: Scantrade International Limited · creditor: Unsecured creditors (aggregate as reported) · currency: CAD
- unsecured creditorsnote: Contingent claims per Statement of Affairs; document names no individual creditors · page: 9 · as of: Statement of Affairs dated September 21, 2008 · basis: Statement of Affairs as reported · amount: 1144896.94 · debtor: Scantrade International Limited · creditor: Contingent claims (aggregate as reported) · currency: CAD
- unsecured creditorsnote: Preferred/employee termination claims estimate used by Trustee in Appendix B dividend schedule · page: 11 · basis: Company's estimate used in Trustee's dividend projection schedule · amount: 80000 · debtor: Scantrade International Limited · creditor: Unpaid employee termination claims (estimate) · currency: CAD
- unsecured creditorsnote: Estimate used by Trustee in Appendix B dividend schedule; excludes claims by shareholders or related parties · page: 11 · basis: Company's estimate used in Trustee's dividend projection schedule · amount: 100000 · debtor: Scantrade International Limited · creditor: Landlords' claims for disclaimed leases (estimate) · currency: CAD
- recovery outcomeentries: basis: estimated · quote: The Schedule indicates tha suffer a shortfall on their security. · pct of: unstated · outcome: shortfall · class key: secured · stated by: trustee · class label: Secured Creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: As set out therein, the Trustee estimates the average dividend from the Funds to Unsecured Creditors is between approximately 5 and 17 cents per · pct of: unstated · outcome: distribution · class key: unsecured · stated by: trustee · class label: Unsecured Creditors · claims amount: 1080000 · interim final: unstated · claims qualifier: listed · table missing: