Ontario · Interim receivership
Motion Record (returnable December 20, 2016).pdf
Application / notice of application · 20 December 2016
What we verified from this filing1 verified
- recovery outcomeentries: basis: estimated · quote: Despite the realization of proceeds from the sale of Arc's assets and the expected collection of Arc's remaining outstanding receivables: (i) the Secured Lender and other secured or priority creditors will continue to suffer a shortfall in the realization of their debt and security; and (ii) Arc will have accrued and unpaid unsecured obligation totaling approximately $23.4 million that it will not be able to satisfy. · pct of: unstated · outcome: shortfall · class key: secured · stated by: debtor · class label: Secured Lender and other secured or priority creditors · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: Deloitte Restructuring Inc. has agreed to act as trustee in bankruptcy of Arc provided that it receives funding for the bankruptcy administration as there will be no remaining assets available to settle the claims of the unsecured creditors of Arc. · pct of: unstated · outcome: nil · class key: unsecured · stated by: debtor · class label: unsecured creditors of Arc · interim final: unstated · claims qualifier: unstated · table missing: