Ontario · Proposal
Creditors’ Package
Meeting materials · 12 December 2017
A plain-language read of this filing opens with a subscription.
What we verified from this filing6 verified
- unsecured creditorsnote: Approximate figure ('approximately $172,000'); employee source deductions withheld but not remitted, including penalties and interest calculated to Date of Filing; deemed trust/Crown Claim class · page: 11 · as of: Date of Filing (NOI filing date, November 6, 2017) · basis: Proposal (Part V, Crown Claims) as reported by the Company · amount: 172000 · debtor: Hy-Power Coatings Limited · creditor: Canada Revenue Agency · currency: CAD
- unsecured creditorsnote: Approximate figure ('approximately $28,000'); preferred claim under Section 136(1) of the Act, ranks ahead of ordinary unsecured; document names no individual employees · page: 11 · as of: Date of Filing (NOI filing date, November 6, 2017) · basis: Proposal (Part V, Employee Preferred Claims) as reported by the Company · amount: 28000 · debtor: Hy-Power Coatings Limited · creditor: Employee Preferred Claims (aggregate, unnamed employees) · currency: CAD
- unsecured creditorsnote: Related party (President of the Company); agreed not to file a claim and will not participate in distributions to Unsecured Creditors · page: 12 · as of: December 6, 2017 · basis: Related-party creditor confirmation (Schedule A) · debtor: Hy-Power Coatings Limited · creditor: Joseph Grzyb · currency: CAD
- unsecured creditorsnote: Related party; agreed not to file a claim and will not participate in distributions to Unsecured Creditors · page: 12 · as of: December 6, 2017 · basis: Related-party creditor confirmation (Schedule A) · debtor: Hy-Power Coatings Limited · creditor: Stuart Eddy · currency: CAD
- unsecured creditorsnote: Related party; agreed not to file a claim and will not participate in distributions to Unsecured Creditors · page: 12 · as of: December 6, 2017 · basis: Related-party creditor confirmation (Schedule A) · debtor: Hy-Power Coatings Limited · creditor: Chris Bulger · currency: CAD
- recovery outcomeentries: basis: plan · quote: As can be seen below, the net estimated recovery to CRA for Crown Priority Claims in a bankruptcy scenario is 100% and in the Proposal scenario is 100%. · pct of: unstated · outcome: paid_in_full · pct low: 100 · pct high: 100 · class key: deemed_trust · stated by: proposal_trustee · class label: Crown Priority Claims (CRA) · creditor name: CRA · interim final: unstated · claims qualifier: unstated; basis: liquidation_alternative · quote: | Recovery on Crown Priority Claims | 91% | Recovery on Crown Priority Claims | 100% | · pct of: unstated · outcome: distribution · pct low: 91 · pct high: 91 · class key: deemed_trust · stated by: proposal_trustee · class label: Crown Priority Claims (CRA) - bankruptcy scenario · creditor name: CRA · interim final: unstated · claims qualifier: unstated; basis: liquidation_alternative · quote: The net estimated recovery to the Secured Creditors in a bankruptcy scenario is 8% versus 100% under the Proposal scenario. · pct of: unstated · outcome: distribution · pct low: 8 · pct high: 8 · class key: secured · stated by: proposal_trustee · class label: Secured Creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: The net estimated recovery to the Secured Creditors in a bankruptcy scenario is 8% versus 100% under the Proposal scenario. · pct of: unstated · outcome: paid_in_full · pct low: 100 · pct high: 100 · class key: secured · stated by: proposal_trustee · class label: Secured Creditors · interim final: unstated · claims qualifier: unstated; basis: liquidation_alternative · quote: The net estimated recovery to the Preferred Creditors in a bankruptcy scenario is 0% · pct of: unstated · outcome: nil · class key: preferred · stated by: proposal_trustee · class label: Preferred Creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: versus 100% under the Proposal scenario. · pct of: unstated · outcome: paid_in_full · pct low: 100 · pct high: 100 · class key: preferred · stated by: proposal_trustee · class label: Preferred Creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: The net estimated recovery to the Unsecured Creditors in a bankruptcy scenario is approximately 0% versus approximately 41% under the Proposal scenario. · pct of: unstated · outcome: distribution · pct low: 41 · pct high: 41 · class key: unsecured · stated by: proposal_trustee · class label: Unsecured Creditors · claims amount: 495000 · interim final: unstated · claims qualifier: estimated · stated on: 2017-12-05 · table missing: