Alberta · NOI
Report of Trustee on Proposal – February 20, 2013
Court officer report · 20 February 2013
A plain-language read of this filing opens with a subscription.
What we verified from this filing4 verified
- financial positionnote: Assets table: Cash 77,484; Accounts receivable 486,689; Inventory (blank); Machinery and Equipment 2,995,920; Total 3,560,093. Liabilities: Unsecured claims 2,267,980; Secured claims 4,391,975; Total 6,659,954. Note a separate Statement of Affairs (as at Filing Date Nov 14, 2012) shows different figures: Total assets 3,422,688.65, Total liabilities 6,659,954.13, Deficiency 3,237,265.48. · basis: Trustee's estimated fair realizable values · scope: entity - BOE Energy Systems Ltd. · currency: CAD · total assets: 3560093 · total liabilities: 6659954
- operational summaryBOE's proposal contemplates continuing operations while restructuring liabilities, paying secured lenders outside the proposal, paying Crown and Preferred claims in full, and issuing common shares to ordinary unsecured creditors.
- recovery outcomeentries: basis: plan · quote: All Crown Claims, if any, shall be paid in full in cash, without interest or penalty, and subject to the Levy, in accordance with this Article and in priority to all Ordinary Unsecured Claims. · pct of: unstated · outcome: paid_in_full · class key: preferred · stated by: trustee · class label: Crown Claims · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: The claims of Preferred Creditors shall be paid in full in cash, without interest or penalty, and subject to the Superintendent's Levy, in priority to the claims of Ordinary Unsecured Creditors. · pct of: unstated · outcome: paid_in_full · class key: preferred · stated by: trustee · class label: Preferred Creditors · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: The Affected Secured Creditor shall receive, in full and final satisfaction of its Affected Secured Claim, Common Shares in full payment of its Affected Secured Claim, on the basis that the Affected Secured Creditor will receive one (1) Common Share for each dollar ($1.00) making up the principal amount of its Affected Secured Claim, without interest or penalty. · pct of: unstated · outcome: distribution · class key: secured · stated by: trustee · class label: Affected Secured Creditor · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: Option A – cash in an amount equal to the lesser of $1,500 or the principal amount of its Ordinary Unsecured Claim, without interest or penalty, as full and final payment in satisfaction of their claim; or · pct of: unstated · outcome: distribution · class key: unsecured · stated by: trustee · amount low: 1500 · amount high: 1500 · class label: Ordinary Unsecured Creditors · interim final: unstated · conditional on: Option A – cash equal to the lesser of $1,500 or the principal amount of claim; Option B – one Common Share per $1.00 of principal claim amount · claims qualifier: unstated · stated on: 2013-02-20 · table missing:
- report date20 February 2013