Newfoundland and Labrador · NOI
Trustee’s Report on Proposal
Court officer report · 21 November 2016
A plain-language read of this filing opens with a subscription.
What we verified from this filing8 verified
- appointeeMNP Ltd.
- appointee roleTrustee
- commencement date18 May 2016
- court file no20522
- provinceNEWFOUNDLAND AND LABRADOR
- statutory basisSections 50(10) b) and 50(5) of the Bankruptcy and Insolvency Act
- financial positionnote: Total assets are a stated sum (Accounts Receivables $1,570,121; Intercompany Receivable $448,716; Equipment $12,871). Liabilities are given only by category, not as an overall total: Secured creditors - BMO $162,409, Aviva $1,614,412, Moskowitz Capital $1,776,821 (as of this report); Ordinary Creditors (non-related parties) $1,381,823; Priority debts (DAS, potential employee claims) amounts not quantified/unknown to management. · as at: 2016-11-07 · basis: Unaudited - based on books and records and Statement of Affairs · scope: entity (Baraco-Atlantic Corp.) · currency: CAD · total assets: 2031708
- recovery outcomeentries: basis: plan · quote: Should the Proposal be accepted by the required majority, the ordinary creditors could receive a dividend ranging between 4% and 24% of their claim. · pct of: unstated · outcome: distribution · pct low: 4 · currency: CAD · pct high: 24 · class key: unsecured · stated by: trustee · class label: Ordinary Creditors · interim final: unstated · currency quote: In Cdn$ · claims qualifier: unstated; basis: plan · quote: Crown claims (DAS) if any, will be paid in full 6 months after the Court's approval of the Proposal. · pct of: unstated · outcome: paid_in_full · pct low: 100 · pct high: 100 · class key: preferred · stated by: trustee · class label: Crown claims (DAS) · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Potential employee's claims, if any, will be paid in full at the time of the Court's approval of the Proposal. · pct of: unstated · outcome: paid_in_full · pct low: 100 · pct high: 100 · class key: preferred · stated by: trustee · class label: preferred claims (employee's claims) · interim final: unstated · claims qualifier: unstated · stated on: 2016-11-21 · table missing: