Ontario · Proposal
Seventh Report of the Proposal Trustee dated July 16, 2008
Court officer report · 16 July 2008
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: liquidation_alternative · quote: Richter prepared a statement of net estimated realization in the event of bankruptcy which indicates that there would be no funds available for distribution to unsecured creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: unsecured creditors (in the event of bankruptcy) · interim final: unstated · conditional on: Amended Proposal not accepted and the Company deemed bankrupt · claims qualifier: unstated; basis: plan · quote: In such a case, there would be no distribution to unsecured creditors, which compares unfavourably to the estimated proposal fund totaling $ 1.435 million as contemplated by the Amended Proposal. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: trustee · amount low: 1435000 · amount high: 1435000 · class label: Affected Creditors (unsecured creditors under the Amended Proposal) · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Holders of Old Equity will not be entitled to any payment or compensation with respect to the cancellation of the Old Equity. · pct of: unstated · outcome: nil · class key: equity · stated by: debtor · class label: holders of Old Equity · interim final: unstated · claims qualifier: unstated · stated on: 2008-07-16 · table missing: