New Brunswick · Proposal
Book of Authorities
Application / notice of application · undated
What we verified from this filing7 verified
- applicantJEANIE MARSHAL FOODS CANADA INC.
- courtIN THE COURT OF QUEEN'S BENCH OF NEW BRUNSWICK
- court file noCourt No. 19522
- proceeding typebia_proposal
- statutory basisBankruptcy and Insolvency Act, R.S.C. 1985, c. B-3
- statutory basisBankruptcy and Insolvency Act, R.S.C. 1985, c. B-3
- recovery outcomeentries: basis: plan · quote: Mr. Tilk proposes a separate class with an enhanced recovery over and above the approximately 0.275 cents on the dollar which unsecured creditors whose claims exceed $1,500.00 are expected to receive under the Proposal. · pct of: unstated · outcome: distribution · pct low: 0.275 · pct high: 0.275 · class key: unsecured · stated by: unstated · class label: unsecured creditors whose claims exceed $1,500.00 · interim final: unstated · cents on dollar: 0.275 · claims qualifier: unstated; basis: plan · quote: The proposal submitted to the creditors is that Gordon Mackay & Co. is willing to advance a sum sufficient to pay all the creditors, other than itself, 55 cents in the dollar. · pct of: unstated · outcome: distribution · pct low: 55 · pct high: 55 · class key: unsecured · stated by: unstated · class label: creditors, other than Gordon Mackay & Co. · interim final: unstated · cents on dollar: 55 · claims qualifier: unstated; basis: plan · quote: This means, of course, that Gordon Mackay & Co. will still retain the right to call for payment of its claim in full, while the other creditors, if the scheme is approved by the Court, will forgo 45 per cent. of their claims. · pct of: unstated · outcome: paid_in_full · class key: unsecured · stated by: unstated · class label: Gordon Mackay & Co. · creditor name: Gordon Mackay & Co. · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Indeed, if the Proposal unfolds according to the Trustee's scenario, most unsecured creditors will receive about 20 cents on the dollar whereas the wives' numbered company will receive about $425,000 on an unsecured claim of $295,000. · pct of: unstated · outcome: distribution · pct low: 20 · pct high: 20 · class key: unsecured · stated by: trustee · class label: most unsecured creditors · interim final: unstated · cents on dollar: 20 · claims qualifier: unstated; basis: plan · quote: Indeed, if the Proposal unfolds according to the Trustee's scenario, most unsecured creditors will receive about 20 cents on the dollar whereas the wives' numbered company will receive about $425,000 on an unsecured claim of $295,000. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: trustee · amount low: 425000 · amount high: 425000 · class label: wives' numbered company · claims amount: 295000 · creditor name: numbered company owned by the wives of Cohen and Feder · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Its claim of about $162,000 will be paid in full, even though the Trustee admits that at no time before the creditors' meeting did it investigate this claim to determine its validity. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: trustee · class label: C. Douglas Cardoza Limited · claims amount: 162000 · creditor name: C. Douglas Cardoza Limited · interim final: unstated · claims qualifier: unstated · table missing: