Ontario · NOI
Supplement to Second Report of the Proposal Trustee dated April 1, 2021
Court officer report · 1 April 2021
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What we verified from this filing7 verified
- financial positionnote: Figure is the book value of the combined assets of Allied and Bottom Line, cited by the Proposal Trustee as significantly less than the secured debt owing to the Agent (Bridging Debt estimated at $88.653 million); no total liabilities figure stated for Allied alone. · as at: 2020-12-31 · basis: book value · scope: combined - Allied Track Services Inc. and Bottom Line · currency: CAD · total assets: 40700000
- operational summaryThe Company continues to operate its railroad maintenance business while the sale transaction (now formalized as an Amended and Restated APA) proceeds toward closing, with funding provided under an increased DIP facility to cover critical operating costs including payroll and vendors; following closing, the Company is expected to have no remaining employees and may be assigned into bankruptcy.
- purchaser2806401 Ontario Inc.
- report date1 April 2021
- report noSupplement to the Second Report
- sale outcometext: The Proposal Trustee recommends the Court approve the Transaction as formalized in the A&R APA. · scope: whole_business · status: pending_approval
- stalking horse2806401 Ontario Inc.