Quebec · NOI
Sixth Report to the Court Submitted by Deloitte Restructuring Inc. in its Capacity as Trustee to the Notice of Intention to Make a Proposal
Court officer report · 5 May 2020
What we verified from this filing5 verified
- process resultsndas: 5 · note: seventeen (17) different parties received teasers; three (3) parties who received the CIM declined to submit an offer · solicited: 36
- purchaserprice: sealed: false · scope: the majority of the assets and assuming certain of the liabilities of the Debtors, with a view to maintaining approximately fifty-one (51) Bouclair retail store locations and its head office in Pointe-Claire (Quebec) · status: proposed · name note: referred to only as the 'Proposed Purchaser'; identity not disclosed in visible text · structure: assets · name source: recital · relationship: unstated
- recovery outcomeentries: basis: liquidation_alternative · quote: As per the estimated liquidation value analysis presented in the above table, assuming that all asset liquidation receipts (after payment of any priority claims) would be remitted to the secured creditors, it is expected that said secured creditors would suffer an estimated shortfall of approximately $2,9M before payment of any professional fees. · pct of: unstated · outcome: shortfall · class key: secured · stated by: proposal_trustee · class label: secured creditors · interim final: unstated · claims qualifier: unstated · shortfall amount: 2900000; basis: liquidation_alternative · quote: Considering the above, the Trustee is of the view that it is highly unlikely that a forced liquidation would result in sufficient proceeds to reimburse the secured creditors in full let alone generate sufficient funds to provide for a distribution to the unsecured creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: proposal_trustee · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated · table missing:
- sale advisorErnst & Young Orenda Corporate Finance Inc.; Gordon Brothers Canada ULC
- sale outcometext: Proposed Sale Transaction pending approval by the Court · scope: whole_business · status: pending_approval