Ontario · NOI
Proposal Trustee's Report to Court dated March 11, 2014
Court officer report · 11 March 2014
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
- financial positionnote: Table in US$000's. Estimated realizable value of total assets is 205 (US$205,000). Liabilities: CRA source deductions 100, secured creditors 10,000, preferred creditors nil, unsecured creditors 152,739, total 162,839. · as at: 2014-02-17 · basis: Assets shown at book value (estimated realizable value only US$205 thousand); liabilities at book value, as estimated by the Proposal Trustee · scope: Colossus Minerals Inc. (the Company), non-consolidated; includes investments in subsidiaries and intercompany receivable at book value · currency: USD · total assets: 357222000 · total liabilities: 162839000
- process resultsbids: 0 · note: the SISP did not identify any purchasers or investors for the Company or its business; no potential investor or purchaser was prepared to submit a non-binding LOI · qualified bids: 0
- recovery outcomeentries: basis: plan · quote: All employees will be granted RSUs equal to 30% of their Employee Claim, which is the same amount of consideration to be received by Affected Creditors. · pct of: unstated · outcome: distribution · pct low: 30 · pct high: 30 · class key: unsecured · stated by: proposal_trustee · class label: Affected Creditors · interim final: unstated · claims qualifier: unstated · stated on: 2014-03-11 · table missing:
- sale outcometext: As described in the Supplemental Reports, no offers were received under the SISP · scope: whole_business · status: no_acceptable_bid