British Columbia · Proposal
Notice of Application for Court Approval of Proposal
Application / notice of application · 5 June 2024
What we verified from this filing8 verified
- applicantMNP Ltd., Licensed Insolvency Trustee acting in the Proposal of Lotus Ventures Inc.
- commencement date5 June 2024
- courtIN THE SUPREME COURT OF BRITISH COLUMBIA
- court file noB-240063
- proceeding typebia_proposal
- statutory basisBankruptcy and Insolvency Act, RSC 1985, c. B-3, as amended
- statutory basissections 59(1), 59(2) and 60(5) of the Bankruptcy and Insolvency Act
- recovery outcomeentries: basis: plan · quote: After the payment of certain priority claims, approximately $1,810,000 is expected to be available under the Further Amended Proposal (or approximately 36% of the claims), which is a better recovery for the creditors than would be expected in a bankruptcy of Lotus. · pct of: unstated · outcome: distribution · pct low: 36 · pct high: 36 · class key: unsecured · stated by: proposal_trustee · amount low: 1810000 · amount high: 1810000 · class label: creditors of Lotus (unsecured) · interim final: unstated · conditional on: After the payment of certain priority claims · claims qualifier: unstated · table missing: