British Columbia · Proposal
Second Report of the Proposal Trustee
Court officer report · 21 April 2017
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 filing9 verified
- courtIN THE SUPREME COURT OF BRITISH COLUMBIA
- court file noB-170055
- appointeeAlvarez & Marsal Canada Inc.
- appointee roletrustee
- commencement date30 December 2016
- statutory basisPart III, Division I of the Bankruptcy and Insolvency Act (Canada)
- operational summaryThe Companies abandoned the original liquidating-trustee proposal after tax analysis showed value would only be preserved if the Secured Creditor Sponsors retained control of Power, leading to an Amended Proposal under which TuCan acquires Power's shares while a subsidiary sale and tax refunds fund creditor distributions.
- report date21 April 2017
- report noSecond Report