British Columbia · NOI
The Proposal Trustee ’s Amended Report to Creditors on the Proposal
Court officer report · 28 April 2025
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What we verified from this filing9 verified
- cash on handnote: Of this balance, $6,425 is in the Company's bank account and the remaining approximately $137,388 are sale proceeds held in trust by the Proposal Trustee. · as at: 2025-04-11 · amount: 143813 · currency: CAD · qualifier: approximately
- closing confirmedscope: the assets of the Company · outcome: completed · purchaser: KPMG LLP · date basis: unstated
- financial positionnote: Assets comprised of Cash on Hand $143,813, Accounts Receivable $25,296, GST Refund $13,000, SRED Refund $250,000, CAINN Refund $11,260, Fixed Assets $12,700 (total per SOA $456,069). Liabilities comprised of Deemed Trust $45,309, Secured Nil, Preferred $19,453, Unsecured $1,661,235.17; the SOA liabilities total line is stated as $1,661,235, matching the unsecured claims figure as printed in the table. · as at: 2025-04-11 · basis: Statement of Affairs - unaudited estimated realizable values prepared by Management, not reviewed or audited by the Proposal Trustee · scope: LlamaZOO Interactive Inc. (single entity, not consolidated) · currency: CAD · total assets: 456069 · total liabilities: 1661235
- operational summaryThe Company, having laid off its workforce in early 2024 due to prolonged financial difficulties, completed a court-approved sale of its assets to KPMG LLP and is now winding down, with remaining former employees assisting the transition and the Company relying on the Proposal Trustee and management to pursue tax refunds and complete the Proposal.
- professional feesnote: Stated only as exceeding the $100,000 Administration Charge; no precise total fee figure disclosed. Estimated future professional fee ranges (Trustee and legal fees) also appear in the Amended Estimated Realization Schedule as forecasts, not actual incurred fees. · party: Administration Professionals (the Proposal Trustee, the Proposal Trustee's legal counsel, and the Company's legal counsel) · currency: CAD
- purchaserKPMG LLP
- recovery outcomeentries: basis: actual · quote: As noted above, both of these creditors have been paid in full from the sales proceeds. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: proposal_trustee · class label: The Royal Bank of Canada · creditor name: Royal Bank of Canada · interim final: unstated · claims qualifier: unstated; basis: actual · quote: As noted above, both of these creditors have been paid in full from the sales proceeds. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: proposal_trustee · class label: Bonsai Growth Solutions Inc. · creditor name: Bonsai Growth Solutions Inc. · interim final: unstated · claims qualifier: unstated; basis: plan · quote: the Proposal offers to pay 100% of the Proven Claims of the Crown; · pct of: proven_claims · outcome: paid_in_full · pct low: 100 · pct high: 100 · class key: preferred · stated by: proposal_trustee · class label: Crown Claims · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Preferred Claims shall be paid in full on or after the date that the Court approves the Proposal. · pct of: unstated · outcome: paid_in_full · class key: preferred · stated by: proposal_trustee · class label: Preferred Claims · interim final: unstated · claims qualifier: unstated; basis: liquidation_alternative · quote: In a bankruptcy scenario, it is estimated that the Unsecured Creditors would recover between 8.7% - 15.2%. · pct of: unstated · outcome: distribution · pct low: 8.7 · pct high: 15.2 · class key: unsecured · stated by: proposal_trustee · class label: Unsecured Creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Alternatively, under the Proposal, the Company is proposing to pay as much as $274,604 (representing 17.5%) of the Proven Claims of Unsecured Creditors. · pct of: proven_claims · outcome: distribution · pct low: 17.5 · pct high: 17.5 · class key: unsecured · stated by: proposal_trustee · amount low: 274604 · amount high: 274604 · class label: Unsecured Creditors · interim final: unstated · claims qualifier: unstated · stated on: 2025-04-28 · table missing:
- report date28 April 2025
- sale outcometext: The Court approved the transaction and granted the extension. · scope: whole_business · status: closed