Nova Scotia · NOI
Report of Proposal Trustee
Court officer report · 21 July 2015
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: Asset total is book value. Creditor claims as at the NOI Date per Company information: Priority $383,636; Secured $3,993,316; Unsecured $1,478,759; total $5,855,711 (liabilities total not stated in Statement of Affairs summary; assets and creditor claims have different dates). · as at: 2015-07-14 · basis: Company's Statement of Affairs as at July 14, 2015 (unaudited financial information as at June 30, 2015); total is book value; estimated realizable value in liquidation is $2,223,000 to $2,770,000 · scope: Tour Tech. East Limited (single entity) · currency: CAD · total assets: 8212483
- recovery outcomeentries: basis: plan · quote: The Unsecured Creditors would not receive any distribution, as opposed to a distribution in the range of 15% contemplated by the terms of the Proposal. · pct of: unstated · outcome: distribution · pct low: 15 · pct high: 15 · class key: unsecured · stated by: proposal_trustee · class label: Unsecured Creditors (under the Proposal) · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Deferred Creditors shall not receive any distribution in this Proposal. · pct of: unstated · outcome: nil · stated by: proposal_trustee · class label: Deferred Creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: An amount estimated to be approximately $267,000 for payment in full of Priority Claims outstanding against Tour Tech as at the Effective Date; · pct of: unstated · outcome: paid_in_full · pct low: 100 · pct high: 100 · class key: preferred · stated by: proposal_trustee · amount low: 267000 · amount high: 267000 · class label: Priority Claims · interim final: unstated · claims qualifier: unstated; basis: plan · quote: An amount estimated to be approximately $575,000 for payment in full of TD's advances to Tour Tech as at the Effective Date; · pct of: unstated · outcome: paid_in_full · pct low: 100 · pct high: 100 · class key: secured · stated by: proposal_trustee · amount low: 575000 · amount high: 575000 · class label: TD · creditor name: TD · interim final: unstated · claims qualifier: unstated; basis: plan · quote: All Preferred Creditors will be paid in full, without interest, under the statutory requirements as contained within the BIA, before any payments are made to the Unsecured Creditors. · pct of: unstated · outcome: paid_in_full · pct low: 100 · pct high: 100 · class key: preferred · stated by: proposal_trustee · class label: Preferred Creditors · interim final: unstated · claims qualifier: unstated · stated on: 2015-07-20 · table missing: