Alberta · NOI
Third Report of the Proposal Trustee dated February 29, 2024
Court officer report · 29 February 2024
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What we verified from this filing6 verified
- process resultsbids: 2 · ndas: 16 · note: over 100 parties contacted, sixteen requested VDR access, Auction had two bidders (Badger and JMAC) · as of: 2024-02-09 · solicited: 100
- purchaserprice: note: JMAC's last Auction bid designated as the Backup Bid · basis: cash · amount: 29100000 · sealed: false · scope: the sale of substantially all of the Companies' Business and Property · status: conditional_backup · name note: JMAC, the Backup Bid designee, unnamed corporate entity name not stated as purchaser but referenced as bidder · structure: auction · name source: recital · relationship: stalking_horse
- recovery outcomeentries: basis: estimated · quote: The Companies' creditors are expected to receive a distribution that would see their duly proven creditor claims paid in full (subject to any applicable OSB levy, if any) and shareholders to receive a distribution with respect to their equity interests which is fairly uncommon in insolvency proceedings. · pct of: unstated · outcome: paid_in_full · class key: unsecured · stated by: proposal_trustee · class label: Companies' creditors · interim final: unstated · conditional on: subject to any applicable OSB levy, if any · claims qualifier: unstated · stated on: 2024-02-29 · table missing:
- sale advisorCanaccord Genuity Corp.
- sale outcometext: Auction resulted in Badger being declared the Winning Bidder with a bid of $29,200,000; Transaction subject to Court approval · scope: whole_business · status: pending_approval
- stalking horseJMAC (29100000)