Ontario · Proposal
Report to Court re Court Approval (Returnable September 18, 2019) dated September 6, 2019
Court officer report · 18 September 2019
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What we verified from this filing5 verified · 1 withheld
- financial positionnote: No total liabilities figure given; per SOA components: Secured $36,001.00, Preferred NIL, Unsecured $46,430.43, Contingent $1.00. Claims filed as at September 3, 2019 differ: Secured NIL, Preferred NIL, Unsecured $7,548,566.26, Contingent NIL. · basis: Estimated realizable value as per the Company's Statement of Affairs (SOA) · scope: entity-level – FT EnE Canada Inc. · currency: CAD · total assets: 1824022
- operational summaryThe Company continues to operate and employ its 15 employees while the proposal proceedings continue amid an ongoing management dispute with its parent, FTEI; its real property has already been sold and the proceeds used mainly to repay RBC.
- recovery outcomeentries: basis: plan · quote: The only known creditor impacted by this amendment is FTEI, as all the other creditors will be paid in full of their indebtedness notwithstanding this change. · pct of: unstated · outcome: paid_in_full · class key: unsecured · stated by: proposal_trustee · class label: all the other creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: As a result, as of the Court Approval date, the Proposal Trustee will have all of the necessary funds payable to Creditors under the Amended Proposal in its possession, so that the Amended Proposal may be implemented, and the Convenience Creditors paid in full expeditiously after Court Approval. · pct of: unstated · outcome: paid_in_full · class key: unsecured · stated by: proposal_trustee · class label: Convenience Creditors (Ordinary Creditors with claims under $15,000) · interim final: unstated · claims qualifier: unstated · table missing:
- report date6 September 2019
- sale outcometext: Approval and Vesting Order issued authorizing sale of the Real Property to the purchaser identified through the SISP · scope: parcel · status: approved
1 extracted value is withheld: either a trap-shaped field where models produce confident wrong numbers, or an identity value whose quotation could not be found in the document. Withheld values are shown to no one.