Alberta · NOI
Unique et al. - Creditors Package - May 4, 2018.pdf
Notice to creditors · 4 May 2018
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 filing2 verified
- financial positionnote: Combined comparison table (low/high bankruptcy scenarios) not a stated single total: Cash 50,000; Accounts receivable 1,194,000-1,566,000; Scaffolding equipment 1,250,000-1,500,000; Lands and buildings 4,950,000-5,450,000; Estimated net realizable value of the Companies' assets 7,444,000 (low) to 8,566,000 (high); Net amount available for Ordinary Unsecured Creditors: Proposal 750,000, Bankruptcy Low nil, Bankruptcy High 290,000. Estimated Affected Creditors' claims (per Companies' books as at NOI date) approximately $1,676,000. These are estimated/forecast liquidation figures, not an audited or confirmed statement of assets and liabilities. · as at: 2018-04-27 · basis: unaudited financial information provided by the Companies' management · scope: consolidated - Unique Scaffold Inc., Unique Land Holdings Inc. and Procyk Asset Corporation combined estimated net realizable value comparison · currency: CAD
- recovery outcomeentries: basis: plan · quote: Based on Companies' records as at the NOIs, the projected distribution to Affected Creditors is approximately 45% of their claim. · pct of: unstated · outcome: distribution · pct low: 45 · pct high: 45 · class key: unsecured · stated by: proposal_trustee · class label: Affected Creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: the Companies will pay, to the Proposal Trustee for the benefit of Ordinary Unsecured Creditors, the amount of $750,000 on or before March 31, 2019. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: proposal_trustee · amount low: 750000 · amount high: 750000 · class label: Ordinary Unsecured Creditors · claims amount: 1676000 · interim final: unstated · conditional on: payable to the Proposal Trustee on or before March 31, 2019, if the Proposal is accepted and approved by the Court · claims qualifier: estimated; basis: liquidation_alternative · quote: the estimated distribution to Affected Creditors within a liquidation scenario (estimated to range from 0% to 17%) · pct of: unstated · outcome: distribution · pct low: 0 · pct high: 17 · class key: unsecured · stated by: proposal_trustee · class label: Affected Creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Crown Claims, as defined in the Proposal, are to be paid in full in cash directly by the Companies on or before July 31, 2018, or such date as agreed by the CRA, provided it is no later than 6 months following approval of the Proposal by the Court. · pct of: unstated · outcome: paid_in_full · class key: deemed_trust · stated by: proposal_trustee · class label: Crown Claims · claims amount: 960793 · creditor name: CRA · interim final: unstated · conditional on: paid in cash on or before July 31, 2018, or such date as agreed by the CRA, no later than 6 months following Court approval · claims qualifier: unstated; basis: plan · quote: The claims of Preferred Creditors shall be paid in full in cash, without interest or penalty, and subject to the Superintendent's Levy, in priority to the claims of Ordinary Unsecured Creditors. · pct of: unstated · outcome: paid_in_full · class key: preferred · stated by: proposal_trustee · class label: Preferred Creditors · interim final: unstated · conditional on: without interest or penalty, subject to the Superintendent's Levy · claims qualifier: unstated · stated on: 2018-05-04 · table missing: