Quebec · Proposal
Trustee’s Report on the Financial Situation of the Debtor and on the Proposal • June 30, 2004
Court officer report · 30 June 2004
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 filing2 verified
- financial positionnote: Shareholders' equity of $(1,162,000) reported separately; figures in thousands per table header. Secured debt to bankers estimated in excess of $44,300,000 as at June 10, 2004; preferred claims not tracked but could exceed $4,000,000 in event of interruption; unsecured debt estimated at approximately $24,000,000, reduced to less than $18,500,000 excluding related parties. · as at: 2004-05-31 · basis: Bocenor's in-house, unconsolidated and unaudited financial statements as at May 31, 2004 · scope: entity (Groupe Bocenor Inc., unconsolidated) · currency: CAD · total assets: 68281000 · total liabilities: 69443000
- recovery outcomeentries: basis: plan · quote: It provides for a total dividend of $5,ooo,ooo. · pct of: unstated · outcome: distribution · class key: preferred · stated by: proposal_trustee · amount low: 5000000 · amount high: 5000000 · class label: preferred and unsecured creditors (total dividend under the proposal) · claims amount: 18500000 · interim final: unstated · conditional on: $3,500,000 initial distribution by October 31, 2004 and $1,500,000 final distribution by June 30, 2005; creditors may elect the lesser of proven claim or $1,500 · claims qualifier: estimated; basis: liquidation_alternative · quote: Our analysis revealed that the secured creditors would suffer a significant shortfall and that no funds would be available for distribution to the other classes of creditors. · pct of: unstated · outcome: shortfall · class key: secured · stated by: proposal_trustee · class label: secured creditors · interim final: unstated · claims qualifier: unstated; basis: liquidation_alternative · quote: Our analysis revealed that the secured creditors would suffer a significant shortfall and that no funds would be available for distribution to the other classes of creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: proposal_trustee · class label: other classes of creditors · interim final: unstated · claims qualifier: unstated · stated on: 2004-06-25 · table missing: