Ontario · Receivership (court-appointed)
Proposal Trustee's Report to Creditors dated January 15, 2021
Court officer report · 15 January 2021
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: Based on the list of known creditors attached in Appendix 'I', amounts payable to Ordinary Creditors under the Proposal may be up to 47¢ on the dollar; however, this amount may be reduced based on proofs of claim filed. · pct of: unstated · outcome: distribution · pct low: 47 · pct high: 47 · class key: unsecured · stated by: proposal_trustee · amount low: 125000 · amount high: 125000 · class label: Ordinary Creditors · claims amount: 267000 · interim final: unstated · conditional on: may be reduced based on proofs of claim filed · cents on dollar: 47 · claims qualifier: estimated; basis: liquidation_alternative · quote: Absent the Sponsorship Agreement and implementation of the Proposal, there will be no recoveries for Affected Creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: proposal_trustee · class label: Affected Creditors · interim final: unstated · conditional on: if the Proposal is rejected and Rando is deemed to have made an assignment in bankruptcy · claims qualifier: unstated; basis: plan · quote: Within five (5) Business Days of the Proposal Implementation Date, Crown Claims and Preferred Claims, if any, will be paid in full by the Proposal Trustee. · pct of: unstated · outcome: paid_in_full · class key: deemed_trust · stated by: proposal_trustee · class label: Crown Claims and Preferred Claims · interim final: unstated · conditional on: if any such claims exist · claims qualifier: unstated; basis: plan · quote: holders of Equity Claims shall not receive any consideration or distributions under this Proposal and shall not be entitled to vote on this Proposal at the Meeting. · pct of: unstated · outcome: nil · class key: equity · stated by: proposal_trustee · class label: Equity Claims · interim final: unstated · claims qualifier: unstated · stated on: 2021-01-15 · table missing: