Ontario · Proposal
Proposal Trustee’s Report on Proposal
Court officer report · 12 June 2026
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 filing8 verified
- appointeePricewaterhouseCoopers Inc., LIT
- appointee roleproposal trustee
- commencement date9 June 2026
- court file no33-338
- provinceONTARIO
- statutory basissection 62(1) of the Bankruptcy and Insolvency Act (Canada)
- financial positionnote: Assets: 'approximately $12.8M' combined value of the SkyCap Loan and forecast tax refunds (the report also cites SkyCap Loans advanced of $34.1M and forecast tax refunds of $0.8 million). Liabilities: total Bondholder Claims of approximately $35.2 million including accrued interest ($27.6 million principal excluding accrued interest), comprising approximately $12.8M Secured Bondholder Claims and approximately $22.4 million Unsecured Bondholder Claims. Estimated value of Bondholder claims is approximately $0.36 per $1.00 invested. Management has not identified any other unsecured creditors. · as at: 2026-06-09 · basis: Per the Company's books and records (unaudited, not verified by PwC); assets are fair value of the SkyCap Loan (based on the loan portfolio and cash held by SkyCap Financial) plus forecast tax refunds; restructuring is based on NAV as at September 15, 2025 · scope: Limestone Loan Capital Corporation (LLCC) only; liabilities are the Bondholder Claims (the Bonds) · currency: CAD · total assets: 12800000 · total liabilities: 35164852
- recovery outcomeentries: basis: plan · quote: Unaffected Claims will not be impacted by the Proposal and shall be assumed by the Company and paid in full following the Effective Date. · pct of: unstated · outcome: paid_in_full · class key: unsecured · stated by: proposal_trustee · class label: Unaffected unsecured creditors (excluding Bondholder Unsecured Claims) · interim final: unstated · conditional on: paid following the Effective Date · claims qualifier: unstated · stated on: 2026-06-09 · table missing: