Alberta · NOI
Second Report of the Proposal Trustee dated November 21, 2022
Court officer report · 21 November 2022
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 filing5 verified
- process resultsnote: Valitas compiled a list of over 400 prospective purchasers; 16 selected as strong candidates, 9 confirmed interest · solicited: 400
- purchaserTerrafix Geosynthetics Inc.; Hanes Companies, Inc.
- recovery outcomeentries: basis: estimated · quote: CIBC, which will be repaid in full from the Transaction, is supportive of the Transaction. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: proposal_trustee · class label: CIBC · creditor name: CIBC · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: Fulcrum supports approval of the Transaction notwithstanding that it will incur a substantial shortfall on its advances to the Company; · pct of: unstated · outcome: shortfall · class key: secured · stated by: proposal_trustee · class label: Fulcrum · creditor name: Fulcrum · interim final: unstated · claims qualifier: unstated · stated on: 2022-11-21 · table missing:
- sale advisorValitas
- sale outcometext: going-concern sale of substantially all of the Companies' business and assets pending court approval · scope: whole_business · status: pending_approval