British Columbia · Receivership (court-appointed)
Proposal to creditors filed by Contech
Proposal document · undated
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: Every eight cents ($0.08) of Proven Claim of an Affected Secured Creditor = one Common Share. · pct of: unstated · outcome: distribution · class key: secured · stated by: debtor · class label: Affected Secured Creditors · interim final: unstated · conditional on: Every eight cents ($0.08) of Proven Claim of an Affected Secured Creditor converts to one Common Share · claims qualifier: unstated; basis: plan · quote: Every twelve cents ($0.12) of Proven Claim of an Equity Election Creditor = one Common Share. · pct of: unstated · outcome: distribution · class key: equity · stated by: debtor · class label: Equity Election Creditors · interim final: unstated · conditional on: Every twelve cents ($0.12) of Proven Claim of an Equity Election Creditor converts to one Common Share · claims qualifier: unstated; basis: plan · quote: Subject to the Key Supplier agreeing in writing to continue to supply product to the Company on terms acceptable to the Company including with respect to terms of payment, the Key Supplier shall receive seventy cents ($0.70) for every dollar of its Proven Claim. · pct of: unstated · outcome: distribution · class key: secured · stated by: debtor · class label: Key Supplier · creditor name: Meixin Manufacturing Co. Ltd. / DBS Bank Ltd. · interim final: unstated · conditional on: Subject to the Key Supplier agreeing in writing to continue to supply product to the Company on terms acceptable to the Company · claims qualifier: unstated · table missing: