Ontario · CCAA
Seventeenth Report of the Monitor .PDF
Court officer report · 5 April 2024
A plain-language read of this filing opens with a subscription.
What we verified from this filing5 verified
- operational summaryNAFA continues to wait for depressed auction markets to recover, with a significant volume of financed mink pelts still unsold and expected to be auctioned later in 2024; the company otherwise has no ongoing operating business beyond monetizing remaining inventory and loan recoveries.
- recovery outcomeentries: basis: liquidation_alternative · quote: The estimated recovery under the Plan is more favourable than in a bankruptcy or liquidation scenario, where Unsecured Creditors would receive no recoveries; and · pct of: unstated · outcome: nil · class key: unsecured · stated by: monitor · class label: Unsecured Creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: The Plan is fair and reasonable, and given that the Affected Creditors will not be paid in full, there is no unfairness to the shareholders who will be receiving no recoveries under the Plan; · pct of: unstated · outcome: nil · class key: equity · stated by: monitor · class label: shareholders · interim final: unstated · claims qualifier: unstated · stated on: 2024-04-05 · table missing:
- report date5 April 2024
- report noSeventeenth Report
- sale advisorKPMG Inc. and KPMG Corporate Finance