Saskatchewan · NOI
Notice to Creditors dated October 31, 2022
Notice to creditors · 31 October 2022
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 filing2 verified
- financial positionnote: Assets: Accounts Receivable $6,389,186; Advances to Related Parties $3,283,894; Unbilled Accounts Receivable $2,281,460; Property, Plant and Equipment $564,334; Investments in Associates $485,628; Prepaid Expenses $188,136; Marketable Securities $10,694. Liabilities: as at Initial Filing Date (May 9, 2022) per NOIs, Tron had $8,375,246 owed to creditors with claims of $250 or more (First Nations Bank of Canada $3,159,834; Related Entities $1,065,340; Other Payables $4,150,072) - different as-at date than assets. · as at: 2022-08-31 · basis: unaudited financial information, book value · scope: entity - Tron LP and Tron Inc. (Tron Inc. transactions negligible) · currency: CAD · total assets: 13203332
- recovery outcomeentries: basis: plan · quote: Therefore, the Proposal Trustee is estimating a range of 4.0% to 22.6% for a distribution to Pro Rata Creditors. · pct of: unstated · outcome: distribution · pct low: 4 · pct high: 22.6 · class key: unsecured · stated by: proposal_trustee · class label: Pro Rata Creditors · claims amount: 3180000 · interim final: unstated · conditional on: Low end assumes the BP Damages Claim is lodged and admitted; subject to claim review process · claims qualifier: estimated; basis: liquidation_alternative · quote: if Tron was deemed to have made assignments in bankruptcy and the assets of the Companies immediately liquidated, it is estimated that no funds would be available for the Unsecured Creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: proposal_trustee · class label: Unsecured Creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: estimated to be between 4.0% and 22.6% to Pro-Rata Creditors and up to 100% to the Convenience Class Creditors; · pct of: unstated · outcome: distribution · pct low: 100 · pct high: 100 · class key: unsecured · stated by: proposal_trustee · class label: Convenience Class Creditors · interim final: unstated · conditional on: Receive the first $1,000 of their proven claim in full settlement · claims qualifier: unstated · stated on: 2022-10-31 · table missing: