Ontario · Proposal
Meeting of Creditors Minutes
Meeting materials · 15 July 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 filing1 verified
- recovery outcomeentries: basis: plan · quote: The amount available to unsecured creditors was also amended to the lesser of $1,015,000 and 35% of the proven claims of ordinary unsecured creditors. · pct of: proven_claims · outcome: distribution · pct low: 35 · pct high: 35 · class key: unsecured · stated by: trustee · amount low: 1015000 · amount high: 1015000 · class label: ordinary unsecured creditors · interim final: unstated · conditional on: lesser of $1,015,000 and 35% of the proven claims of ordinary unsecured creditors · claims qualifier: unstated; basis: liquidation_alternative · quote: The LIT confirmed that as outlined in the trustee's report, the estimated realization in a bankruptcy or liquidation of the company's assets would likely not be sufficient to cover the priority and secured claims, which could mean zero recovery for the classes of equipment lessors and unsecured creditors. · pct of: unstated · outcome: nil · class key: pmsi_lessor · stated by: trustee · class label: equipment lessors · interim final: unstated · claims qualifier: unstated; basis: liquidation_alternative · quote: The LIT confirmed that as outlined in the trustee's report, the estimated realization in a bankruptcy or liquidation of the company's assets would likely not be sufficient to cover the priority and secured claims, which could mean zero recovery for the classes of equipment lessors and unsecured creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated · stated on: 2022-07-15 · table missing: