Ontario · NOI
Second Report of Richter Inc. (formerly Richter Advisory Group Inc.) in its capacity as Trustee – dated May 25, 2022
Court officer report · 25 May 2022
A plain-language read of this filing opens with a subscription.
What we verified from this filing2 verified
- fee scheduleengagements: form: prose · rows: · money: approximate: false · period: end: 2022-05-20 · kind: invoice · quote: for the period from February 1, 2022 to May 20, 2022 · start: 2022-02-01 · approval: quote: approving the Proposal Trustee's fees and disbursements and those of its counsel, Thornton Grout Finnigan LLP ('TGF'), for the period from February 1, 2022 to May 20, 2022 · state: unstated · averages: rate: 569.07 · quote: The average hourly rate billed by the Proposal Trustee during the Period is $569.07. · currency: · invoices: · firm text: Richter Inc. · firm quote: SECOND REPORT OF RICHTER INC. (FORMERLY, RICHTER ADVISORY GROUP INC.) IN ITS CAPACITY AS TRUSTEE UNDER THE NOTICE OF INTENTION TO MAKE A PROPOSAL OF AYANDA CANNABIS CORPORATION · context quote: approving the Proposal Trustee's fees and disbursements and those of its counsel, Thornton Grout Finnigan LLP ('TGF'), for the period from February 1, 2022 to May 20, 2022 · context unverified: true; form: prose · rows: · money: approximate: false · period: end: 2022-05-20 · kind: invoice · quote: for the period from February 1, 2022 to May 20, 2022 · start: 2022-02-01 · approval: quote: approving the Proposal Trustee's fees and disbursements and those of its counsel, Thornton Grout Finnigan LLP ('TGF'), for the period from February 1, 2022 to May 20, 2022 · state: unstated · averages: · currency: · invoices: · firm text: Thornton Grout Finnigan LLP · firm quote: its counsel, Thornton Grout Finnigan LLP ('TGF') · context quote: approving the Proposal Trustee's fees and disbursements and those of its counsel, Thornton Grout Finnigan LLP ('TGF'), for the period from February 1, 2022 to May 20, 2022 · firm unverified: true · context unverified: true
- recovery outcomeentries: basis: plan · quote: The Chairperson confirmed that the Proposal provided for the net proceeds from the Transaction (after payment in full of the secured claim in favour of Michael Sioen Farms Ltd.) to be distributed among proven unsecured creditors with any remaining funds to be distributed to shareholders, as set out in the Proposal. · pct of: unstated · outcome: paid_in_full · pct low: 100 · pct high: 100 · class key: secured · stated by: proposal_trustee · class label: secured claim in favour of Michael Sioen Farms Ltd. (MSFL) · creditor name: Michael Sioen Farms Ltd. · interim final: unstated · conditional on: Should the Proposal be approved by both the Creditors and the Court and implemented · claims qualifier: unstated; basis: plan · quote: Should the Proposal be approved by both the Creditors and the Court and implemented, it is anticipated that the Claims of Affected Creditors will be paid in full and the balance of the Net Purchase Proceeds will be made available to Ayanda's Class B Equity Claimants on a pro rata basis. · pct of: unstated · outcome: paid_in_full · pct low: 100 · pct high: 100 · class key: unsecured · stated by: proposal_trustee · class label: Affected Creditors / Ordinary Unsecured Creditors · interim final: unstated · conditional on: Should the Proposal be approved by both the Creditors and the Court and implemented · claims qualifier: unstated; basis: liquidation_alternative · quote: In a bankruptcy scenario, proven unsecured creditors (and shareholders) were estimated to receive no recoveries. · pct of: unstated · outcome: nil · class key: equity · stated by: proposal_trustee · class label: proven unsecured creditors (and shareholders) · interim final: unstated · claims qualifier: unstated · stated on: 2022-05-25 · table missing: