Ontario · Proposal
Report of Trustee to the Creditors dated August 13, 2019
Court officer report · 13 August 2019
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 filing2 verified
- financial positionnote: Assets per SOA: Inventory $100,000; Accounts receivable (net) $368,149; Refunds - SIMA and HST $200,000; Cash in Bank $387,522; Cash collateral held by RBC $50,000; Trust account - Blaneys $50,000; Trust account - MNP re S.65.13(8) $36,000; Vehicles - Ford F150 $500; Machinery, equipment and plant $1,000,000. Creditors per SOA: Secured $36,001; Preferred $0; Unsecured $46,430; Contingent/trust/other $1. Unsecured creditors figure includes $1 owing to FTEI which the Trustee notes 'is not necessarily reflective of the actual amount owing to FTEI' as FTEI's NOI showed ~$6 million owing. · as at: 2019-08-02 · basis: Statement of Affairs; estimated realizable values · scope: entity - FT EnE Canada Inc. · currency: CAD · total assets: 2192171 · total liabilities: 82432
- recovery outcomeentries: basis: plan · quote: c) Payment forthwith to the Preferred Creditors (including employee amounts under S. 136(1)(d) of the BIA and the Crown claims listed in S. 60(1.1) of the BIA) in full of their Proven Claims following receipt of the funds, which is to be within thirty (30) days of the Court approving the Proposal; · pct of: unstated · outcome: paid_in_full · class key: preferred · stated by: trustee · class label: Preferred Creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: | Estimated Distribution to Unsecured Creditors (%) | | 100.0% | · pct of: unstated · outcome: distribution · pct low: 100 · pct high: 100 · class key: unsecured · stated by: trustee · class label: Unsecured Creditors (Proposal) · claims amount: 46430 · interim final: unstated · claims qualifier: estimated · table missing: