Alberta · Proposal
Notice of Proposal and First Meeting of Creditors Package
Meeting materials · 12 May 2016
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: The report states the amounts owed to debenture holders and unsecured creditors are based on information provided by EmberClear and may vary depending on validity of proofs of claim filed. The accompanying Form 78 Statement of Affairs shows total liabilities of $9,263,074.52 and a deficiency of $8,069,639.52, which differ from the figures stated in the narrative report. · as at: 2016-04-30 · basis: Estimated Statement of Affairs prepared based on the Trustee's review of EmberClear's financial affairs · scope: entity - EmberClear Corp. (parent company only) · currency: CAD · total assets: 1193435 · total liabilities: 9663075
- recovery outcomeentries: basis: plan · quote: accepting a payment of $0.10 per $1.00 of each proven claim in cash (the 'Cash Option') ; or · pct of: proven_claims · outcome: distribution · pct low: 10 · pct high: 10 · class key: unsecured · stated by: trustee · class label: unsecured creditors (Cash Option) · interim final: unstated · cents on dollar: 10 · claims qualifier: unstated; basis: plan · quote: choosing to receive a Note in an amount equal to $0.70 per $1.00 or each proven claim (the 'Note Option' ) in full and final satisfaction of all claims against EmberClear. · pct of: proven_claims · outcome: distribution · pct low: 70 · pct high: 70 · class key: unsecured · stated by: trustee · class label: unsecured creditors (Note Option) · interim final: unstated · cents on dollar: 70 · claims qualifier: unstated; basis: plan · quote: to the preferred creditors of EmberClear, if any, in full; · pct of: unstated · outcome: paid_in_full · class key: preferred · stated by: trustee · class label: preferred creditors · interim final: unstated · claims qualifier: unstated · stated on: 2016-05-12 · table missing: