British Columbia · Proposal
Sixth Report of the Proposal Trustee - TLI
Court officer report · 4 November 2020
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 filing5 verified
- operational summaryTLP's assets were sold for $300,000 gross and TLP is deemed bankrupt; the Facility and TLC shares drew no binding offers, so a Term Sheet with Canguard/InvestorCo refinances the DIP Lender's roughly $7 million debt, the proposals of TLC, TLB and TLI were unanimously accepted, and the Companies are to continue as going concerns and emerge from the proceedings.
- recovery outcomeentries: basis: plan · quote: The unsecured creditors of TLC to receive full recovery and the unsecured creditors of TLI to receive some recovery on their claims (less the levy payable to the OSB); · pct of: unstated · outcome: paid_in_full · class key: unsecured · stated by: proposal_trustee · class label: unsecured creditors of TLC · interim final: unstated · claims qualifier: unstated; basis: plan · quote: The unsecured creditors of TLC to receive full recovery and the unsecured creditors of TLI to receive some recovery on their claims (less the levy payable to the OSB); · pct of: unstated · outcome: distribution · class key: unsecured · stated by: proposal_trustee · class label: unsecured creditors of TLI · interim final: unstated · claims qualifier: unstated · stated on: 2020-11-04 · table missing:
- report date4 November 2020
- report noSixth Report of the Proposal Trustee
- sale advisorColliers Macaulay Nicolls Inc.