Ontario · Proposal
Trustees Report - Excel Technologies Limited.pdf
Court officer report · 8 December 2008
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What we verified from this filing7 verified
- provinceONTARIO
- statutory basisSubsection 50(5) of the Bankruptcy and Insolvency Act
- appointeeThe Fuller Landau Group Inc.
- appointee roleTrustee
- commencement date5 December 2008
- financial positionnote: Asset total of $3,002,000 (NBV) comprises Cash $60K, Accounts Receivable $1,160K, Inventory $872K, Machinery/Equipment/Delivery Vehicles $575K, Leasehold Improvements $144K, Office Furniture & Equipment $26K, Prepaid Expenses $165K; a separate 'Estimated Realizable Value Per SOA' column shows lower liquidation figures with no stated total. Liability total of $1,844,000 reflects only Unsecured claims; Secured and Preferred creditor claims are listed as 'Unknown' in the Statement of Affairs, and Contingent claims are stated as NIL. · as at: 2008-12-05 · basis: Statement of Affairs (estimated net book value); Trustee states it has not audited Excel's financial statements and offers no opinion on the completeness or accuracy of the Statement of Affairs · scope: Excel Technologies Limited, entity-level (non-consolidated) · currency: CAD · total assets: 3002000 · total liabilities: 1844000
- recovery outcomeentries: basis: plan · quote: For reasons set out below in Section M, the estimated dividend from the Proposal Funds to ordinary unsecured creditors is between 33 cents and 35 cents per dollar of claim. · pct of: unstated · outcome: distribution · pct low: 33 · pct high: 35 · class key: unsecured · stated by: trustee · class label: ordinary unsecured creditors · interim final: unstated · cents on dollar: 35 · claims qualifier: unstated; basis: liquidation_alternative · quote: Should the Company be deemed bankrupt, for reasons set out below in Section L, the estimated dividend to ordinary unsecured creditors is between 9 cents and 35 cents per dollar of claim, · pct of: unstated · outcome: distribution · pct low: 9 · pct high: 35 · class key: unsecured · stated by: trustee · class label: ordinary unsecured creditors · interim final: unstated · cents on dollar: 35 · claims qualifier: unstated; basis: plan · quote: As required by the Act, Preferred Claims are to be paid in full in priority to the claims of all other Unsecured Creditors. · pct of: unstated · outcome: paid_in_full · pct low: 100 · pct high: 100 · class key: preferred · stated by: trustee · class label: Preferred Claims · interim final: unstated · claims qualifier: unstated; basis: plan · quote: The Claims of Secured Creditors of the Debtor, if any, shall be paid in fall in priority from the Proposal Funds following the payment of the Administrative Fees. · pct of: unstated · outcome: paid_in_full · pct low: 100 · pct high: 100 · class key: secured · stated by: trustee · class label: Secured Creditors · interim final: unstated · claims qualifier: unstated; basis: liquidation_alternative · quote: Had the Senior Secureds done so, it would likely have resulted in the Senior Secureds suffering a shortfall on their Security with no likelihood of any distribution to any subordinate creditors, secured or otherwise. · pct of: unstated · outcome: shortfall · class key: secured · stated by: trustee · class label: Senior Secureds (RBC and Business Development Bank of Canada) · creditor name: Senior Secureds · interim final: unstated · claims qualifier: unstated; basis: liquidation_alternative · quote: Had the Senior Secureds done so, it would likely have resulted in the Senior Secureds suffering a shortfall on their Security with no likelihood of any distribution to any subordinate creditors, secured or otherwise. · pct of: unstated · outcome: nil · class key: secured · stated by: trustee · class label: subordinate creditors, secured or otherwise · interim final: unstated · claims qualifier: unstated · stated on: 2008-12-08 · table missing: