Ontario · NOI
First Report of Proposal Trustee, December 8, 2016
Court officer report · 8 December 2016
A plain-language read of this filing opens with a subscription.
What we verified from this filing11 verified
- secured creditorsnote: Approximate/estimated outstanding balance ('estimated to be $3.9 million' also stated in Stalking Horse APA summary); quantum to be updated for bidders. Initially advanced by Waterton Global Value (Luxembourg) S.A.R.L.; assigned to Waterton Global Value, L.P. via Assignment of Loan and Security Agreement dated March 7, 2014. · page: 10 · as of: date hereof (December 8, 2016) · amount: 3900000 · debtor: Strike Minerals Inc. · creditor: Waterton Global Value, L.P. (as assignee of Waterton Global Value (Luxembourg) S.A.R.L.) · currency: CAD · security: Senior secured gold stream credit agreement dated February 21, 2012 (Waterton Loan Agreement); security interests in property and assets of the Company registered under PPSA (Ontario) and applicable land registries; first ranking security subject to court-ordered Whelan charge
- secured creditorsnote: Judgment amount (inclusive of prejudgment interest and costs to date) per October Order; $160,000 of this ranks in priority to Waterton's charge, balance ($1,472,399.18) ranks subsequent to Waterton and is included in unsecured liabilities total. Original lien claim registered was $1,451,834. · page: 11 · as of: 2014-10-21 · amount: 1632399.18 · debtor: Strike Minerals Inc. · creditor: 161229 Canada Inc. o/a Paul Whelan Mining Contractors ("Whelan") · currency: CAD · security: Construction lien registered March 18, 2013 against Edwards under the Construction Lien Act (Ontario), Instrument No. AL115372; judgment lien
- secured creditorsnote: PPSA equipment financiers (PMSI class) - blanket registrant relating to specific office equipment; amount not stated · page: 11 · debtor: Strike Minerals Inc. · creditor: Xerox Canada Ltd. · currency: CAD · security: PPSA registration relating to office equipment financing
- secured creditorsnote: PPSA equipment financiers (PMSI class) - blanket registrant relating to specific leased equipment; amount not stated · page: 11 · debtor: Strike Minerals Inc. · creditor: Buck Island Bay Investments Inc. · currency: CAD · security: PPSA registration relating to leased air compressor
- unsecured creditorsnote: Document names no individual unsecured creditors except Whelan (see separate entry); this aggregate figure includes the Whelan unsecured portion of $1,472,399.18. · page: 11 · as of: date hereof (December 8, 2016) · basis: As informed by the Company to the Proposal Trustee · amount: 5465555 · debtor: Strike Minerals Inc. · creditor: Unsecured creditors (aggregate as reported) · currency: CAD
- unsecured creditorsnote: Balance of $1,632,399.18 judgment after $160,000 priority portion; this balance found to rank subsequent in priority to Waterton and is included in the aggregate unsecured liabilities figure of $5,465,555. · page: 12 · as of: 2014-10-21 · basis: October Order judgment amount, portion ranking subsequent to Waterton's security interest, included in total unsecured liabilities · amount: 1472399.18 · debtor: Strike Minerals Inc. · creditor: 161229 Canada Inc. o/a Paul Whelan Mining Contractors ("Whelan") - unsecured portion · currency: CAD
- secured creditorsnote: Charge amount per October Order (Justice Varpio); Waterton's charge ranks subsequent to Whelan Construction Lien only to the extent of $160,000, and has priority over the balance of the Lien. · page: 26 · as of: 2014-10-21 · amount: 160000 · debtor: Strike Minerals Inc. · creditor: Waterton Global Value (Luxembourg) S.A.R.L. · currency: CAD · security: Court-ordered Charge on the Property (subordinate to Whelan's $160,000 priority per October Order); first-ranking security otherwise
- purchaserprice: sealed: false · currency: CAD · scope: the Purchased Assets · status: proposed · name note: Stalking Horse Bidder, unnamed in provided text · structure: assets · name source: recital · relationship: stalking_horse
- sale advisorA. Farber & Partners Inc.
- sale outcometext: proposed stalking horse sales and marketing process seeking Court approval · scope: whole_business · status: pending_approval
- stalking horsestate: stated · currency: CAD