British Columbia · NOI
Trustee's Report to Creditors - Supplement to the First Report to Creditors
Court officer report · 4 March 2025
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
- purchaserprice: note: Subscription Price amount redacted; deposit and closing payment amounts also redacted. · sealed: true · scope: the Assets · status: proposed · name note: unnamed subscriber under the Subscription Agreement · structure: subscription · name source: recital · relationship: unstated
- recovery outcomeentries: basis: plan · quote: The Transaction will provide a recovery of redacted % for Victor Neufeld, Gary Leong, and Thomas Tardi when comparing their payment upon closing under the VLT Promissory note to their estimated total claim of $1,471,000. · pct of: unstated · outcome: distribution · class key: secured · stated by: trustee · class label: Victor Neufeld, Gary Leong, and Thomas Tardi (VLT Promissory Note holders) · claims amount: 1471000 · creditor name: Victor Neufeld, Gary Leong, and Thomas Tardi · interim final: unstated · claims qualifier: estimated; basis: liquidation_alternative · quote: Under a bankruptcy scenario the estimated recovery for secured creditors is 8.8%. · pct of: unstated · outcome: distribution · pct low: 8.8 · pct high: 8.8 · class key: secured · stated by: trustee · class label: secured creditors · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: In either scenario there is no expectation for recovery for unsecured creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated · stated on: 2025-03-04 · table missing:
- report date4 March 2025
- report noSupplement to the First Report to Creditors
- sale outcometext: Transaction pending approval; recovery comparison against bankruptcy scenario provided · scope: whole_business · status: pending_approval