Alberta · CCAA
Notice to Creditors - Meeting Order
Notice to creditors · 21 December 2021
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 filing6 verified
- secured creditorsnote: Reported as 'Secured term loan' in Exhibit 1.0 liquidation analysis, in thousands (CAD '000s), as at Dec 8, 2021; related party (affiliate of Plan Sponsor) · page: 81 · as of: 2021-12-08 · amount: 2128000 · debtor: Kaisen Energy Corp. · creditor: Durum Opportunities LP (assignee of ATB Financial term loan) - Current Bank Indebtedness/Current Bank Security · currency: CAD · security: General security agreement (non-consumer) dated August 29, 2013, assigned by ATB Financial to Durum Opportunities LP (Affiliate of Plan Sponsor) effective December 7, 2021
- secured creditorsnote: Reported as 'Secured promissory note' in Exhibit 1.0, in thousands (CAD '000s), as at Dec 8, 2021; Azimuth Capital was majority shareholder - related party; ranks subordinate to Current Bank Indebtedness per definition of Senior Secured Debt · page: 81 · as of: 2021-12-08 · amount: 1139000 · debtor: Kaisen Energy Corp. · creditor: Azimuth Capital (Subordinated Notes) · currency: CAD · security: Subordinated secured promissory notes; principal amount $1,025,000 plus additional $17,942.31 in costs per Plan definitions (aggregate ~$1,042,942)
- secured creditorsnote: Reported as 'Secured property taxes' in Exhibit 1.0, in thousands (CAD '000s), as at Dec 8, 2021; distinct from unsecured property taxes of $114,000 also listed · page: 81 · as of: 2021-12-08 · amount: 781000 · debtor: Kaisen Energy Corp. · creditor: Municipal Tax Creditors (Alberta and Saskatchewan) · currency: CAD · security: Secured property taxes (statutory lien)
- unsecured creditorsnote: In thousands (CAD '000s); document names no individual creditors here · page: 81 · as of: 2021-12-08 · basis: Reported in Monitor's Exhibit 1.0 liquidation analysis based on Company debts as at December 8, 2021 · amount: 4594000 · debtor: Kaisen Energy Corp. · creditor: Unsecured trade creditors (accounts payable and accrued liabilities, aggregate as reported) · currency: CAD
- unsecured creditorsnote: In thousands (CAD '000s); Plan defines aggregate principal amount of Convertible Debentures as $6,517,100 (registered principal, distinct from the $8,450,000 balance figure reported here which may include accrued interest); document names no individual holders · page: 81 · as of: 2021-12-08 · basis: Reported in Monitor's Exhibit 1.0 liquidation analysis · amount: 8450000 · debtor: Kaisen Energy Corp. · creditor: Convertible Debenture Creditors (8.00% unsecured subordinated convertible debentures) · currency: CAD
- unsecured creditorsnote: In thousands (CAD '000s); distinct from secured property taxes of $781,000; document names no individual creditors · page: 81 · as of: 2021-12-08 · basis: Reported in Monitor's Exhibit 1.0 liquidation analysis · amount: 114000 · debtor: Kaisen Energy Corp. · creditor: Unsecured property taxes (municipal, aggregate as reported) · currency: CAD