Ontario · CCAA
a) A brief overview of Stantive’s business; b) A comparison of actual receipts and disbursements for the 6 week period ended January 11, 2018 to Stantive’s projected cash flow statement; c) Stantive’s cash flow statement for the period January 12, 2018 o March 8, 2019; d) A brief update on SISP; e) An update to the chart comparing the purchase price under the Stalking Horse Agreement and the Trustee’s assessment of value offered under the Stalking Horse Agreement that would be used to evaluate the Qualified Bids and identify Superior Offers; f) The results of the independent legal opinion sought by the Trustee in regards to the security held by prior ranking secured creditors to the Mundo Debt and the Amar Debt (as defined in the Second Report) being 8095876 Canada Inc. In Trust (referred to as “OneKey”) and Ranger Direct lending Fund, PLC; g) Stantive’s request for an Order approving a claims solicitation process; and h) Stantive’s request for a 45 day extension in which to file its proposal pursuant to the BIA
Court officer report · 22 January 2019
Also filed as: Third Report of the Proposal Trustee
A plain-language read of this filing opens with a subscription.
What we verified from this filing4 verified
- process resultsnote: 125 parties initially plus 10 additional parties sent teaser and SISP notice · as of: 2019-01-22 · solicited: 135
- purchaserprice: note: Total Purchase Price (A+B+C) comprising cash amount for priority payables, credit bid (DIP Loan, Angelo, 196 Note, accrued interest), and value of assumed liabilities · basis: mixed · amount: 9723301 · sealed: false · currency: CAD · scope: Stantive's business or property · status: proposed · name note: Stalking Horse Bidder under the Stalking Horse Agreement, unnamed in this excerpt · structure: hybrid · name source: recital · relationship: stalking_horse
- sale outcometext: SISP approved by court order; teaser and notice distributed; due diligence ongoing; claims process being sought to assist valuation of Stalking Horse Agreement relative to potential bids · scope: whole_business · status: liquidation_in_progress
- stalking horsestate: stated · amount: 9723301 · currency: CAD