Ontario · Proposal
Second Report of the Proposal Trustee, dated October 21, 2011
Court officer report · 21 October 2011
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 filing1 verified
- recovery outcomeentries: basis: estimated · quote: The Proposal Trustee has spoken with Richters and understands that there is a possibility that Callidus's debt can be repaid in full, and also generate proceeds for the Related Party Secured Creditors, who may utilize some of the proceeds to help sponsor a plan. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: proposal_trustee · class label: Callidus Capital Corporation · creditor name: Callidus Capital Corporation · interim final: unstated · related party: false · conditional on: dependent on the successful negotiation and closing of an en-bloc agreement for the Seasonal Business, with one of the two prospective purchasers which have submitted an LOI · claims qualifier: unstated; basis: estimated · quote: That outcome would likely result in Callidus's indebtedness not being fully repaid and in turn the Related Party Secured Creditors and other creditors would not have the opportunity to make a recovery. · pct of: unstated · outcome: nil · class key: secured · stated by: proposal_trustee · class label: Related Party Secured Creditors and other creditors · interim final: unstated · related party: true · conditional on: should the extension to the NOI Stay Period not be granted and Encore becomes bankrupt · claims qualifier: unstated · stated on: 2011-10-21 · table missing: