Ontario · Proposal
Proposal Trustee's Final Report to Court dated November 30, 2021
Court officer report · 30 November 2021
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing11 verified
- courtSUPERIOR COURT OF JUSTICE (IN BANKRUPTCY AND INSOLVENCY)
- court file no31-2278725
- appointeeGrant Thornton Limited
- appointee roleproposal trustee
- commencement date1 August 2017
- statutory basissection 50.4(1) of the Bankruptcy and Insolvency Act
- secured creditorsnote: Also US$2,263,000 issued under same offering; used to fund secured subordinated TFS Loan. Vote value at March 14, 2018 meeting was $7,950,830 (FOR) plus $55,000 (AGAINST), totaling approx. $8,005,830 in proven claims for Secured Creditor Class. · page: 6 · as of: September 30, 2016 Offering Memorandum (issued amount) · amount: 7270784 · debtor: SecureCare Capital Inc. · creditor: Secured Bondholders (SecureCare Secured Bonds) · currency: CAD · security: Secured bonds issued pursuant to Offering Memorandum dated September 30, 2016; security over all assets of SecureCare
- unsecured creditorsnote: Used to fund a portion of the TFS Loan. · page: 6 · as of: issued amount per Confidential Information Memorandum dated December 10, 2016 · basis: Company's own records of outstanding SecureCare Bonds, as reported in Trustee's Final Report · amount: 3220000 · debtor: SecureCare Capital Inc. · creditor: Unsecured Bondholders (December 10th Bonds) · currency: USD
- unsecured creditorsnote: Also US$8,071,800 of same series (April 30th Bonds); used to acquire beneficial interest in Collateral Pool. · page: 6 · as of: issued amount per Company records · basis: Company's own records of outstanding SecureCare Bonds, as reported in Trustee's Final Report · amount: 78156153 · debtor: SecureCare Capital Inc. · creditor: Unsecured Bondholders (April 30th Bonds - unsecured fixed rate bonds issued prior to April 30, 2016) · currency: CAD
- unsecured creditorsnote: Dividends totaling $32,622,006.00 (34.99 cents per dollar) paid on these proven claims; distinct from Unsecured Creditor Class vote value of $37,108,826 (FOR) + $12,068,742 (AGAINST) recorded March 14, 2018. · page: 16 · as of: as at date of Final Dividend, December 9, 2019 · basis: Valid proofs of claim filed by 2,086 Unsecured Bondholders with the Proposal Trustee (Proven Unsecured Claims) · amount: 93198888 · debtor: SecureCare Capital Inc. · creditor: Proven Ordinary Unsecured Creditors (Unsecured Bondholders with filed proofs of claim) · currency: CAD
- unsecured creditorsnote: Comprised of $5,509,727 (2015) and $6,536,034 (2016) per TFS's June 5th Letter; disputed claim, not independently verified/adjudicated at time of report. · page: 65 · as of: June 5, 2017 (TFS demand letter) · basis: Claim asserted by TFS via letter dated June 5, 2017 demanding payment for operating expenses and allocations for management of Collateral Pool · amount: 12045761 · debtor: SecureCare Capital Inc. · creditor: TFS (Collateral Manager) - 2015 and 2016 Operating Expenses claim · currency: CAD