British Columbia · Proposal
Sixth Report of the Proposal Trustee - TLB
Court officer report · 4 November 2020
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 filing6 verified
- operational summaryThe sales process produced no binding offers for the Facility or TLC's shares. The Companies' proposals were unanimously accepted by creditors. A term sheet refinancing will pay out the DIP Lender so TLB, TLI and TLC can exit the proceedings as going concerns. TLP's assets were sold for $300,000 and TLP was deemed bankrupt.
- purchaserprice: sealed: false · scope: the Shares (all issued and outstanding shares in the capital of TLC) or the Property · status: proposed · name note: Purchaser under Share/Property sale agreement (form of agreement in schedule) not named in the excerpted text · structure: shares · name source: schedule · relationship: unstated
- report date4 November 2020
- report noSixth Report
- sale advisorColliers Macaulay Nicolls Inc.
- sale outcometext: Sales process for TLP and the Facility completed, with Term Sheet forming the basis for the proposals lodged by the Companies · scope: whole_business · status: pending_approval