Alberta · Interim receivership
Form 40 - Trustee's Report on Proposal and Exhibits
Court officer report · 1 December 2021
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 filing1 verified
- recovery outcomeentries: basis: plan · quote: Crown Claims and Claims by Preferred Creditors will be paid in full, subject to the levy payable to the OSB pursuant to Section 147 of the BIA (the 'Levy'), as applicable; and · pct of: unstated · outcome: paid_in_full · class key: deemed_trust · stated by: proposal_trustee · class label: Crown Claims and Claims by Preferred Creditors · interim final: unstated · conditional on: subject to the levy payable to the OSB pursuant to Section 147 of the BIA · claims qualifier: unstated; basis: plan · quote: Payment of dividends to proven Ordinary Unsecured Creditors (subject to the Levy) will be made based on the lesser of the amount of the Proven Claim of each Ordinary Unsecured Creditor and $1,000 (the 'Proposal Payments'). · pct of: unstated · outcome: distribution · class key: unsecured · stated by: proposal_trustee · class label: Ordinary Unsecured Creditors · claims amount: 21115070 · interim final: unstated · conditional on: each creditor receives the lesser of its Proven Claim and $1,000 (per-claim cap), subject to the Levy · claims qualifier: unstated; basis: liquidation_alternative · quote: As such, there will not be any recovery for any of A2A's creditors in a bankruptcy scenario. · pct of: unstated · outcome: nil · class key: unsecured · stated by: proposal_trustee · class label: creditors of A2A in a bankruptcy scenario · interim final: unstated · claims qualifier: unstated; basis: liquidation_alternative · quote: In addition, in the unlikely event that the A2A IP could be realized upon in the event of its bankruptcy, given the size of the Bridging Loan, there would not be any recovery for the Ordinary Unsecured Creditors or Claims by Preferred Creditors. · pct of: unstated · outcome: nil · class key: preferred · stated by: proposal_trustee · class label: Ordinary Unsecured Creditors and Preferred Creditors · interim final: unstated · conditional on: in the unlikely event that the A2A IP could be realized upon in a bankruptcy · claims qualifier: unstated · stated on: 2021-12-01 · table missing: