Saskatchewan · NOI
Report of Trustee on Proposal dated January 27, 2023
Court officer report · 27 January 2023
A plain-language read of this filing opens with a subscription.
What we verified from this filing1 verified
- recovery outcomeentries: basis: plan · quote: The Claim of each Secured Creditor will be paid by the Debtor in accordance with agreements between the Debtor and the Secured Creditor or as otherwise agreed between the Secured Creditor and the Debtor. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: debtor · class label: Secured Creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: The Claim of each Related Creditor will be paid by the Debtor in accordance with agreements between the Debtor and the Related Creditor or as otherwise agreed between the Related Creditor and the Debtor. · pct of: unstated · outcome: paid_in_full · stated by: debtor · class label: Related Creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: The Proven Claims of the Preferred Creditors (excluding the Employee Claims) of the Debtor will be paid in full in priority to the Proven Claims of other Unsecured Creditors in accordance with the BIA and the Proposal. · pct of: unstated · outcome: paid_in_full · class key: preferred · stated by: debtor · class label: Preferred Creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Post-Filing Claims will be paid in full by the Debtor in the ordinary course of business and on regular trade terms, or as may otherwise be arranged with the holders of such Post-Filing Claims. · pct of: unstated · outcome: paid_in_full · stated by: debtor · class label: Post-Filing Claims · interim final: unstated · claims qualifier: unstated; basis: plan · quote: 100% of the Unsecured Claims to the maximum amount of $1,500 per Unsecured Claim. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: debtor · amount low: 1500 · amount high: 1500 · class label: Convenience Claims · interim final: unstated · conditional on: 100% of the Unsecured Claims to the maximum amount of $1,500 per Unsecured Claim · claims qualifier: unstated; basis: plan · quote: Based on current estimates of the claims of Affected Creditors, the Proposal Proceeds provide for an estimated dividend of 10% to Affected Creditors . · pct of: unstated · outcome: distribution · pct low: 10 · pct high: 10 · class key: unsecured · stated by: proposal_trustee · class label: Affected Creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Source Deduction Creditors, as defined in the Proposal, are to be paid in full from operational cash flows of the Companies on such date as agreed by CRA, provided it is no later than six (6) months following approval of the Proposal by the Court. · pct of: unstated · outcome: paid_in_full · class key: deemed_trust · stated by: proposal_trustee · class label: Source Deduction Creditors · claims amount: 727834 · creditor name: Canada Revenue Agency · interim final: unstated · claims qualifier: estimated; basis: plan · quote: The claims of Employee Creditors, as defined in the Proposal and capped at $2,000 per employee, shall be paid in full from operational cash flows of the Companies. · pct of: unstated · outcome: paid_in_full · class key: preferred · stated by: proposal_trustee · class label: Employee Creditors · interim final: unstated · conditional on: capped at $2,000 per employee · claims qualifier: unstated; basis: plan · quote: Based on the Companies' records as at the Initial Filing Date, the projected distribution to Pro Rata Creditors is estimated to be approximately 10% of their claim. · pct of: unstated · outcome: distribution · pct low: 10 · pct high: 10 · class key: unsecured · stated by: proposal_trustee · class label: Pro Rata Creditors · interim final: unstated · claims qualifier: estimated; basis: liquidation_alternative · quote: As illustrated in the above SERs, if T&C was deemed to have made assignments in bankruptcy and the assets of the Companies immediately liquidated, it is estimated that no funds would be available for 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: