Prince Edward Island · CCAA

Monitor's Report to Creditors - November 24, 2010

Court officer report · 24 November 2010

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 filing3 verified

operational summaryMariner is under CCAA protection and proposes an Amended Plan to orderly liquidate trade receivables, SRED claims, remaining inventory and GST refunds for distribution, while retaining its processing licence, Murray Harbour real estate and Fisher receivables. The Monitor estimates about $125,000 for unsecured creditors (roughly 2% on average after a $500 priority payment) and recommends approval, warning that rejection would probably lead to receivership and plant closure.
recovery outcomeentries: basis: plan · quote: Innovation PEl for $200,000. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: monitor · amount low: 200000 · amount high: 200000 · class label: Innovation PEI · creditor name: Innovation PEI · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: The first $500 of each unsecured claim would be paid in priority and unsecured creditors would receive approximately 2% (on average) on the balance of their claims. · pct of: unstated · outcome: distribution · pct low: 2 · pct high: 2 · class key: unsecured · stated by: monitor · class label: Unsecured Creditors of Mariner excluding Mark Bonnell, Andrew Bonnell, Lorne Bonnell and Montague Cold Storage · interim final: unstated · conditional on: The first $500 of each unsecured claim would be paid in priority · claims qualifier: unstated · stated on: 2010-11-24 · table missing:
report date24 November 2010