Ontario · Proposal
Creditor Package Proposal
Meeting materials · 11 July 2014
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 filing2 verified
- financial positionnote: Statement of Affairs shows Total unsecured creditors $2,859,096.94, Secured creditors $1,544,161.71, Preferred creditors $0.00, Contingent/trust claims $0.00; Deficiency stated as $2,859,096.94 · as at: 2014-07-03 · basis: as stated and estimated by the officer (Statement of Affairs sworn by the debtor) · scope: entity - Bogdon & Gross Furniture Company Limited · currency: CAD · total assets: 1544161.71 · total liabilities: 4403258.65
- recovery outcomeentries: basis: plan · quote: In our opinion, acceptance of the Proposal would be preferable to the creditors as it would provide for a dividend in the form of a distribution of the Company's new shares totaling 20% of the issued and outstanding shares of B&G. · pct of: unstated · outcome: distribution · pct low: 20 · pct high: 20 · class key: unsecured · stated by: trustee · class label: unsecured creditors · claims amount: 2860000 · interim final: unstated · claims qualifier: unstated; basis: plan · quote: All proven Preferred Claims, if any, without interest from the Filing Date, will be paid in full in priority to all Unsecured Claims. · pct of: unstated · outcome: paid_in_full · pct low: 100 · pct high: 100 · class key: preferred · stated by: debtor · class label: Preferred Claims · interim final: unstated · claims qualifier: unstated; basis: plan · quote: All proven Employee Claims, if any, shall be paid in full immediately following the Effective Date, in accordance with the Act. · pct of: unstated · outcome: paid_in_full · pct low: 100 · pct high: 100 · stated by: debtor · class label: Employee Claims · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Existing Shareholders shall not be entitled to any payment or other compensation with respect to such Existing Debtor Equity and any and all Claims, or other claim, de a a dsi dait da i drr directly or indirectly related to or derived from such Existing Debtor Equity shall be deemed to be released in full without any compensation or indemnity. · pct of: unstated · outcome: nil · class key: equity · stated by: debtor · class label: Existing Shareholders · interim final: unstated · claims qualifier: unstated · stated on: 2014-07-11 · table missing: