Ontario · NOI
Notice of Proposal to Creditors
Notice to creditors · undated
A plain-language read of this filing opens with a subscription.
What we verified from this filing1 verified
- recovery outcomeentries: basis: unstated · quote: As discussed in more detail below, it appears that these secured creditors' Claims have been paid in full. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: proposal_trustee · class label: Secured Creditors (Parent Co and Intermediate Parent Co) · creditor name: Parent Co and Intermediate Parent Co · interim final: unstated · related party: true · claims qualifier: unstated; basis: plan · quote: The Proposal contemplates payment in full of the Administrative Fees and Expenses, followed by payment in full of the Claims of Preferred Creditors in priority to the Claims of Unsecured Creditors, as required by the Act. · pct of: unstated · outcome: paid_in_full · stated by: proposal_trustee · class label: Administrative Fees and Expenses · interim final: unstated · claims qualifier: unstated; basis: plan · quote: The Proposal contemplates payment in full of the Administrative Fees and Expenses, followed by payment in full of the Claims of Preferred Creditors in priority to the Claims of Unsecured Creditors, as required by the Act. · pct of: unstated · outcome: paid_in_full · class key: preferred · stated by: proposal_trustee · class label: Preferred Creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: As required by section 60(1.1) of the Act, Preferred Claims owing to Her Majesty in Right of Canada or a province that are enumerated in that section of the Act, for which such government entities have enhanced rights, if any, shall be paid in full within six (6) months following Approval. · pct of: unstated · outcome: paid_in_full · class key: preferred · stated by: proposal_trustee · class label: Crown Claims (Her Majesty in Right of Canada or a province, s. 60(1.1)) · interim final: unstated · claims qualifier: unstated; basis: plan · quote: owing to Employees as Employee Preferred Claims, shall be paid immediately following Approval, and the balance of their Proven Claims shall be paid on a pro rata basis thereafter in accordance with the terms and conditions hereof; and · pct of: unstated · outcome: distribution · class key: preferred · stated by: proposal_trustee · class label: Employees as Employee Preferred Claims · interim final: unstated · conditional on: paid immediately following Approval, balance of Proven Claims paid pro rata thereafter · claims qualifier: unstated; basis: plan · quote: the lesser of their Claim and $400 (the "Small Claims"); or · pct of: unstated · outcome: distribution · class key: unsecured · stated by: proposal_trustee · amount low: 400 · amount high: 400 · class label: Unsecured Creditors (Small Claims option) · interim final: unstated · conditional on: the lesser of their Claim and $400 · claims qualifier: unstated; basis: plan · quote: their pro rata share of the balance of the Proposal Funds, after deduction of the amount owing on account of the Small Claims, to be paid in accordance with paragraph 14 hereof. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: proposal_trustee · class label: Unsecured Creditors (pro rata balance option) · interim final: unstated · conditional on: pro rata share of the balance of the Proposal Funds, after deduction of the amount owing on account of the Small Claims · claims qualifier: unstated; basis: estimated · quote: Based upon the expected amount of the Proposal Fund and the anticipated claims information received from Management, it is expected that there will be significant distributions to Unsecured Creditors. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: proposal_trustee · class label: Unsecured Creditors · interim final: unstated · claims qualifier: unstated · stated on: 2010-11-15 · table missing: