Ontario · Proposal
Seventh Report of the Proposal Trustee dated September 12, 2022
Court officer report · 12 September 2022
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What we verified from this filing1 verified
- recovery outcomeentries: basis: actual · quote: On March 24, 2022, the Proposal Trustee paid an interim distribution of 70¢ on the dollar to the creditors with Proven Claims. · pct of: unstated · outcome: distribution · pct low: 70 · pct high: 70 · class key: unsecured · stated by: proposal_trustee · cumulative: false · class label: creditors with Proven Claims · interim final: interim · cents on dollar: 70 · claims qualifier: unstated; basis: estimated · quote: The Trustee's estimate is that Affected Creditors will receive between 71% of their claims and payment in full under version 2 of Amended Proposal #3 as contrasted with between 40% and 58% of their claims under Amended Proposal #2. · pct of: unstated · outcome: distribution · pct low: 71 · pct high: 100 · class key: unsecured · stated by: trustee · class label: Affected Creditors · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: The Trustee's estimate is that Affected Creditors will receive between 71% of their claims and payment in full under version 2 of Amended Proposal #3 as contrasted with between 40% and 58% of their claims under Amended Proposal #2. · pct of: unstated · outcome: distribution · pct low: 40 · pct high: 58 · class key: unsecured · stated by: trustee · class label: Affected Creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: There was some controversy about what precisely the lien claimants received in return for agreeing to convert claims that were to be paid $1.00 per $1.00 of valid claims under the Proposal into claims receiving no more than $0.58 per dollar of claim value. · pct of: unstated · outcome: distribution · pct low: 58 · pct high: 58 · class key: unsecured · stated by: trustee · class label: lien claimants (electing, assigned to Proposal Sponsor) · interim final: unstated · cents on dollar: 58 · claims qualifier: unstated; basis: plan · quote: More specifically, the Proposal will provide for a payment in full of Secured Claims and will provide a significant recovery in respect of Affected Creditor Claims. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: debtor · class label: Secured Creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Within thirty (30) Business Days following the granting of the Approval Order, the Crown Claims, if any, will be paid by the Proposal Trustee, in full with related interest and penalties as prescribed by the applicable laws, regulations and decrees. · pct of: unstated · outcome: paid_in_full · class key: preferred · stated by: debtor · class label: Crown Claims · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Within thirty (30) Business Days following the granting of the Approval Order, the Preferred Claims, if any, will be paid in full by the Proposal Trustee. · pct of: unstated · outcome: paid_in_full · class key: preferred · stated by: debtor · class label: Preferred Claims · interim final: unstated · claims qualifier: unstated · stated on: 2022-09-12 · table missing: