Ontario · Proposal
Fourth Report of the Proposal Trustee dated August 7, 2020
Court officer report · 7 August 2020
Also filed as: First Report of the Receiver dated August 7, 2020
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
- fee scheduleengagements: form: report_table · rows: · money: approximate: false · period: end: 2020-04-30 · kind: invoice · quote: For the Period from March 23, 2020 to April 30, 2020 · start: 2020-03-23 · approval: state: unstated · averages: rate: 601.34 · quote: The average hourly rate for the Receiver for the referenced billing period was $601.34. · scope: the Receiver · currency: · invoices: · firm text: KSV Kofman Inc. · firm quote: This report ('Report') is filed by KSV Kofman Inc. ('KSV') · context quote: receiver (the 'Receiver'), appointed pursuant to an Order of the Ontario Superior Court of Justice ('Court') dated March 23, 2020
- recovery outcomeentries: basis: plan · quote: Amounts payable to Affected Creditors under the Proposal may be up to 51¢ on the dollar if the Maximum Principal Amount is achieved. · pct of: unstated · outcome: distribution · pct low: 51 · pct high: 51 · class key: unsecured · stated by: proposal_trustee · class label: Affected Creditors · claims amount: 3400000 · interim final: unstated · conditional on: only if Amalco is able to utilize the Tax Losses and the Maximum Principal Amount is achieved · claims qualifier: unstated; basis: plan · quote: Payments under the Proposal could result in a recovery of up to approximately 50¢ on the dollar for the Affected Claims · pct of: unstated · outcome: distribution · pct low: 50 · pct high: 50 · class key: unsecured · stated by: proposal_trustee · class label: Affected Claims · interim final: unstated · claims qualifier: unstated; basis: liquidation_alternative · quote: no recoveries are expected for the Company's creditors if the Proposal is rejected and the Company is deemed to have made an assignment in bankruptcy. · pct of: unstated · outcome: nil · class key: unsecured · stated by: proposal_trustee · class label: Affected Claims · interim final: unstated · conditional on: if the Proposal is rejected and the Company becomes bankrupt · claims qualifier: unstated · stated on: 2020-08-07 · table missing: