Quebec · Proposal
Translation of Report of the Trustee (version May 26, 2008-10:00 a.m.) – dated May 16, 2008
Court officer report · 26 May 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: unstated · quote: ii) Preferred Creditors (NIL) · pct of: unstated · outcome: nil · class key: preferred · stated by: trustee · class label: Preferred Creditors · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: They are not subject to the Amended Proposal and will be paid in full on regular trade terms. · pct of: unstated · outcome: paid_in_full · stated by: trustee · class label: Current Accounts Payable · claims amount: 378799 · interim final: unstated · claims qualifier: listed; basis: unstated · quote: They are not subject to the Amended Proposal and will be paid in full in the ordinary course of business, according to regular trade terms. · pct of: unstated · outcome: paid_in_full · stated by: trustee · class label: Accrued Liabilities · claims amount: 703573 · interim final: unstated · claims qualifier: listed; basis: plan · quote: i) the lesser of a) 100% of their proven claims, without interest, and · pct of: proven_claims · outcome: distribution · pct low: 100 · pct high: 100 · class key: unsecured · stated by: trustee · amount low: 10000 · amount high: 10000 · class label: Unsecured Creditors (other than FSTQ) · interim final: unstated · conditional on: lesser of 100% of proven claims without interest and $10,000, plus pro rata share of balance in eight equal instalments · claims qualifier: unstated; basis: plan · quote: In final and complete settlement of its unsecured claim of $3,848,075, the FSTQ will be paid the sum of $500,000, without interest, within one hundred eighty (180) days following the approval of the Amended Proposal; · pct of: unstated · outcome: distribution · class key: unsecured · stated by: trustee · amount low: 500000 · amount high: 500000 · class label: FSTQ · claims amount: 3848075 · creditor name: FSTQ · interim final: unstated · claims qualifier: listed; basis: liquidation_alternative · quote: Therefore, we believe that no funds would be available in a bankruptcy scenario for distribution to the unsecured creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: Unsecured Creditors · interim final: unstated · claims qualifier: unstated · stated on: 2008-05-16 · table missing: The estimated distribution under the Amended Proposal is summarized as follows: