New Brunswick · Proposal
Report of the Trustee in Form 40
Court officer report · 27 January 2014
A plain-language read of this filing opens with a subscription.
What we verified from this filing2 verified
- financial positionnote: Assets table gives Book Value total $1,937,115 and Estimated Realizable Value range: Low $496,962, High $686,190 (components: Cash $109,757; Accounts receivable $233,717 book/$116,858-$175,287 ERV; HST receivable $124,446 book/$62,223-$93,335 ERV; Note receivable $254,197 book (nil ERV); Inventory $331,245 book/$33,125-$82,811 ERV; Income Tax Recovery $175,000-$200,000 ERV; Prepaid expenses $21,374 book (nil ERV); Other current assets $11,164 book (nil ERV); Capital assets (net) $851,216 book/nil-$25,000 ERV). Liabilities: Preferred $0 (0 creditors), Unsecured $1,767,734 (74 creditors), Contingent N/A; Total $1,767,734. · basis: Trustee's opinion of assets at Book Value and Estimated Realizable Value (Low/High); liabilities per creditor claims list · scope: Jeanie Marshal Foods Canada Inc. (entity level, per proposal proceeding) · currency: CAD · total liabilities: 1767734
- recovery outcomeentries: basis: plan · quote: That I am further of the opinion that the debtor's proposal is an advantageous one for the creditors as the projected return in the proposal is approximately 68% vs. a range of 22 to 30% in a liquidation scenario. · pct of: unstated · outcome: distribution · pct low: 68 · pct high: 68 · class key: unsecured · stated by: proposal_trustee · class label: Unsecured Creditors · interim final: unstated · related party: false · claims qualifier: unstated; basis: liquidation_alternative · quote: That I am further of the opinion that the debtor's proposal is an advantageous one for the creditors as the projected return in the proposal is approximately 68% vs. a range of 22 to 30% in a liquidation scenario. · pct of: unstated · outcome: distribution · pct low: 22 · pct high: 30 · class key: unsecured · stated by: proposal_trustee · class label: Unsecured Creditors · interim final: unstated · related party: false · claims qualifier: unstated; basis: plan · quote: A Convenience Class will be created and all Proven Claims up to $3,500 will be paid in full, without interest, on or before the 1ªt day of June 2014; · pct of: unstated · outcome: distribution · class key: unsecured · stated by: proposal_trustee · amount low: 3500 · amount high: 3500 · class label: Unsecured Creditors (Convenience Class portion) · interim final: unstated · related party: false · conditional on: 100% of the first $3,500; 67% pro rata on the excess · claims qualifier: unstated; basis: plan · quote: For Proven Claims in excess of $3,500, pro rata payments approximating 67% of the amount outstanding will be paid, in addition to the $3,500 Convenience Class payment contemplated in paragraph (i); and · pct of: unstated · outcome: distribution · pct low: 67 · pct high: 67 · class key: unsecured · stated by: proposal_trustee · class label: Unsecured Creditors (excess of $3,500) · interim final: unstated · related party: false · conditional on: 100% of the first $3,500; 67% pro rata on the excess · claims qualifier: unstated · stated on: 2014-01-27 · table missing: