Ontario · Proposal
Creditor Package - Notice of Proposal dated June 12, 2017
Meeting materials · 12 June 2017
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: Furniture & Equipment $50,000, Cash $100. Liabilities: unsecured creditors $1,050,012.33, secured creditors $50,100.00 balance $190,798.99, preferred creditors $0.00, contingent/trust claims $0.00. Total liabilities $1,290,911.32 with 'Surplus: NIL'. Trustee's Report also notes 'Preferred (2) Unknown' regarding potential landlord percentage rent arrears claim. · as at: 2017-06-05 · basis: Statement of Affairs (as stated and estimated by the officer) · scope: entity - 1821372 Ontario Limited o/a Kennedy Public House · currency: CAD · total assets: 50100 · total liabilities: 1290911.32
- recovery outcomeentries: basis: liquidation_alternative · quote: In the event of a liquidation or immediate bankruptcy, the Debtor's assets would in all likelihood be insufficient to satisfy its Secured Creditor claims and therefore there would be no distribution to Unsecured Creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: Unsecured Creditors · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: all proven preferred Claims as set out in section 136 of the Act, if any, will be paid in full without interest in priority to all Claims of Unsecured Creditors and in accordance with the scheme of distribution sl e e tes and any former employees equal to the amounts that they would be qualified to rcec e t ( t upt on the Date of Filing, shall be paid immediately after the Court Approval Date. · pct of: unstated · outcome: paid_in_full · pct low: 100 · pct high: 100 · class key: preferred · stated by: trustee · class label: Preferred Creditors · interim final: unstated · claims qualifier: unstated · stated on: 2017-06-12 · table missing: