Alberta · NOI
Eighth Report of the Proposal Trustee
Court officer report · 21 May 2021
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What we verified from this filing1 verified
- recovery outcomeentries: basis: estimated · quote: The Proposal Trustee has been advised that as part of the Escrow Closing, the cash proceeds from the transaction are being held by the escrow agent ($1.3 million) and, after considering the Repair Costs (as defined the Sixth Report) incurred by the Company that are to be applied against the total $4.0 million purchase price, it is anticipated that there will be approximately $1.0 million (before administrative costs) available for distribution to secured creditors. · pct of: unstated · outcome: distribution · currency: CAD · class key: secured · stated by: proposal_trustee · amount low: 1000000 · amount high: 1000000 · class label: secured creditors · interim final: unstated · conditional on: before administrative costs; contingent on Escrow Closing proceeds and Repair Costs applied against purchase price · currency quote: $CAD 000's · claims qualifier: unstated; basis: estimated · quote: It is not anticipated that there will be any upcoming distributions from these sales proceeds to unsecured creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: proposal_trustee · class label: unsecured creditors · interim final: unstated · conditional on: from these sales proceeds · claims qualifier: unstated; basis: estimated · quote: In light of the quantum of the secured claims that have been asserted to date, the Proposal Trustee anticipates that should Final Closing occur the proceeds available for distribution will not be sufficient to result in any distribution to unsecured creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: proposal_trustee · class label: unsecured creditors · interim final: unstated · conditional on: should Final Closing occur · claims qualifier: unstated · table missing: