Ontario · Receivership (court-appointed)
Proposal Trustee's Report to Creditors dated January 15, 2021
Court officer report · 15 January 2021
A plain-language read of this filing opens with a subscription.
What we verified from this filing1 verified
- recovery outcomeentries: basis: plan · quote: Subject to the amounts required to be paid in Section 3.01 of the Proposal, being the statutory levy of 5% payable to the OSB under the BIA, the Proposal Trustee shall make one or more distributions to Ordinary Creditors of 100% of the funds from the Ordinary Creditors' Pool, representing $125,000 to be transferred by the Receiver to the Proposal Trustee, on a pro rata basis in accordance with the proofs of claims that are filed by Ordinary Creditors and the BIA. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: proposal_trustee · amount low: 125000 · amount high: 125000 · class label: Ordinary Creditors · interim final: unstated · 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 · pct low: 100 · pct high: 100 · class key: preferred · stated by: proposal_trustee · class label: Crown Claims and Preferred Claims · interim final: unstated · claims qualifier: unstated; basis: plan · quote: On the Proposal Implementation Date, all Equity Claims, and all Director/Officer Indemnity Claims that are based on or related to Equity Claims, shall and shall be deemed to be fully, finally and irrevocably and forever compromised, released, discharged, settled, extinguished, cancelled and 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; basis: estimated · quote: As at the date the Proposal was filed, Ordinary Creditors were owed approximately $267,000. 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 · class label: Ordinary Creditors · claims amount: 267000 · interim final: unstated · cents on dollar: 47 · claims qualifier: estimated · stated on: 2021-01-15 · table missing: