British Columbia · Proposal
Order Approving Proposal - Malone's Social Lounge and Taphouse Inc.
Plan sanction / final order · 14 May 2021
What we verified from this filing2 verified
- presiding officerJustice Walker
- recovery outcomeentries: basis: plan · quote: If the Proposal is approved by the Required Majority, and the Conditions Precedent have been satisfied or waived, then the Companies shall advance $1,200,000 of the Funds for Distribution to the Proposal Trustee within 5 (five) Business Days of the Implementation Date, for distribution to the Unsecured Creditors on a consolidated, pro rata basis, wherein the Unsecured Creditor Claims are consolidated as between the Companies, in full and final satisfaction of the Unsecured Creditor Claims. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: trustee · amount low: 1200000 · amount high: 1200000 · class label: Unsecured Creditors · interim final: unstated · conditional on: If the Proposal is approved by the Required Majority, and the Conditions Precedent have been satisfied or waived · claims qualifier: unstated; basis: plan · quote: Cambie Development Corp. shall advance .a further $200,000 of the Funds for Distribution to the Proposal Trustee by way of non-interest bearing promissory notes with terms to distribute the following amounts to the Unsecured Creditors on a consolidated, pro rata basis, wherein the Unsecured Creditor Claims are consolidated as between the Companies, on the following dates: · pct of: unstated · outcome: distribution · class key: unsecured · stated by: trustee · amount low: 200000 · amount high: 200000 · class label: Unsecured Creditors · interim final: unstated · conditional on: Payment 1 - May 31, 2022 - $40,000; Payment 2 - May 31, 2023 - $50,000; Payment 3 - May 31, 2024 - $50,000; Payment 4 - May 31, 2025 - $60,000 · claims qualifier: unstated · stated on: 2021-05-14 · table missing: