British Columbia · Receivership (court-appointed)
Third Report of the Receiver
Court officer report · 1 March 2016
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 filing4 verified
- process resultslois: 15 · ndas: 75 · note: Phase I concluded December 15, 2015; 75 NDAs executed with prospective purchasers; 15 LOIs received; 8 Qualified Bidders identified December 22, 2015. · as of: 2015-12-22 · solicited: 250 · qualified bids: 8
- purchaserOB Hotels Ltd. and NOAH Holdings Ltd.
- recovery outcomeentries: basis: unstated · quote: The Receiver also notes that none of the APAs received would generate sufficient proceeds to repay Rev in full, and that the Rev APA is the only offer received that gives Rev a potential full recovery. · pct of: unstated · outcome: shortfall · class key: secured · stated by: receiver · class label: Rev · creditor name: Rev · interim final: unstated · claims qualifier: unstated · table missing:
- sale outcometext: The Receiver supports approval of the Rev APA and a vesting order in connection with the transaction. · scope: whole_business · status: pending_approval