Manitoba · Receivership (court-appointed)
Motion Brief of the Respondents – dated October 6, 2020
Application / notice of application · 6 October 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 filing1 verified
- recovery outcomeentries: basis: actual · quote: all amounts owing to the Lenders under the Credit Agreement and/or the Receiver Term Sheet had been paid in full7. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: receiver · class label: Lenders · creditor name: the Lenders · interim final: unstated · conditional on: subject to a US$700,000 Exchange Rate Claim by the Lenders and a US$1,000,000 overpayment by the Receiver · claims qualifier: unstated; basis: estimated · quote: With a purchase price of $24 million, HSBC would be suffering a shortfall on its secured debt of approximately $9 million; · pct of: unstated · outcome: shortfall · class key: secured · stated by: court · class label: HSBC · creditor name: HSBC · interim final: unstated · conditional on: at a purchase price of $24 million · claims qualifier: unstated · shortfall amount: 9000000 · table missing: