Ontario · NOI
Report of the Proposal Trustee on the Financial Situation of the Debtor and the Proposal – dated September 24, 2018
Court officer report · 24 September 2018
What we verified from this filing2 verified
- recovery outcomeentries: basis: plan · quote: (i) Professional Fees: subject to Article 6.2 of the Proposal and the provisions of the BIA, the Professional Fees will be paid in full as they become due; · pct of: unstated · outcome: paid_in_full · stated by: proposal_trustee · class label: Professional Fees · interim final: unstated · claims qualifier: unstated; basis: plan · quote: (ii) Crown Priority Claims: all Crown Claims that were outstanding as at the Filing Date, if any, shall be paid in full to Her Majesty in right of Canada or a Canadian province or territory, as applicable, within six months after the issuance of the Proposal Approval Order; · pct of: unstated · outcome: paid_in_full · class key: preferred · stated by: proposal_trustee · class label: Crown Priority Claims · interim final: unstated · claims qualifier: unstated; basis: plan · quote: (iii) Employee Priority Claims: Employee Priority Claims, if any, will be paid in full in amounts to be determined by the Proposal Trustee pursuant to section 135 of the BIA; · pct of: unstated · outcome: paid_in_full · class key: preferred · stated by: proposal_trustee · class label: Employee Priority Claims · interim final: unstated · claims qualifier: unstated; basis: plan · quote: (iv) Pension Priority Claims: all Pension Claims that were outstanding as at the Filing Date, if any, shall be paid in full within six months after the issuance of the Proposal Approval Order; · pct of: unstated · outcome: paid_in_full · class key: preferred · stated by: proposal_trustee · class label: Pension Priority Claims · interim final: unstated · claims qualifier: unstated; basis: plan · quote: (vi) Secured Claims: any Secured Claims will be paid in full in amounts to be determined by the Proposal Trustee pursuant to section 135 of the BIA; · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: proposal_trustee · class label: Secured Claims · interim final: unstated · claims qualifier: unstated; basis: plan · quote: (vii) Preferred Claims: the remaining Preferred Claims (after the payments provided in Articles 2.4(a) to (f) of the Proposal have been made, or reserves taken therefor), if any, shall be paid without interest in priority to the Proven Claims addressed by Article 2.4(h) of the Proposal; and · pct of: unstated · outcome: distribution · class key: preferred · stated by: proposal_trustee · class label: Preferred Claims · interim final: unstated · conditional on: paid without interest in priority to the Proven Claims addressed by Article 2.4(h), after payments provided in Articles 2.4(a) to (f) have been made, or reserves taken therefor · claims qualifier: unstated; basis: estimated · quote: Based on (i) a Creditor's Fund estimated to be approximately $15 million, (ii) Secured Claims of approximately $4 million, (iii) Priority Claims ranging between $Nil and $500,000, and (iv) unsecured Claims of approximately $36.5 million (after taking into consideration the NW US' Entities postponement of $1 million of their unsecured Claims), the estimated distribution to unsecured Creditors per dollar of Proven Claim is estimated to be approximately 29% - 30%. · pct of: proven_claims · outcome: distribution · pct low: 29 · pct high: 30 · class key: unsecured · stated by: proposal_trustee · class label: unsecured Creditors · claims amount: 36500000 · interim final: unstated · claims qualifier: estimated · table missing:
- sale outcometext: orderly and supervised liquidation and wind-down of their operations · scope: liquidation · status: liquidation_in_progress