Ontario · CCAA
Motion Record (Motion to Terminate CCAA Proceedings)
Application / notice of application · 13 June 2024
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: actual · quote: After confirming that the BC Tax Claim was valid, it was paid in full; · pct of: unstated · outcome: paid_in_full · stated by: debtor · class label: His Majesty the King in right of the Province of British Columbia (BC Tax Claim) · claims amount: 489528.95 · creditor name: His Majesty the King in right of the Province of British Columbia · interim final: unstated · claims qualifier: asserted; basis: actual · quote: Subsequently, BBB Canada and the Lenders (who solely stood to benefit if the CRA Appeal was pursued as all remaining cash in the BBB Canada estate will be distributed to the Lenders upon the termination of these CCAA proceedings) decided to pay the outstanding HST/GST amounts owing to the CRA as per the Notice of Assessment; · pct of: unstated · outcome: paid_in_full · class key: deemed_trust · stated by: debtor · class label: Canada Revenue Agency (CRA Assessment) · claims amount: 2084044.28 · creditor name: Canada Revenue Agency · interim final: unstated · claims qualifier: asserted; basis: unstated · quote: In addition, prior to making a final distribution to the Lenders under the Amended Credit Agreement, the Applicant must release and discharge the various court-approved charges that rank in priority to the Lenders' claims, including the Directors' Charge. · pct of: unstated · outcome: distribution · class key: secured · stated by: debtor · class label: Lenders under the Amended Credit Agreement · interim final: final · claims qualifier: unstated · table missing: