Ontario · NOI
First Report of Richter Advisory Group Inc in its Capacity as Trustee under the Notice of Intention to Make a Proposal – dated February 24, 2022
Court officer report · 24 February 2022
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 filing12 verified
- courtSUPERIOR COURT OF JUSTICE
- court file no35-2802344
- provinceONTARIO
- appointeeRichter Advisory Group Inc.
- appointee roletrustee
- commencement date4 February 2022
- statutory basisSection 50.4(1) of the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B.-3, as amended
- process resultsbids: 1 · ndas: 6 · note: 6 parties executed NDAs, 3 granted Data Room access, 1 term sheet submitted (Initial Term Sheet); 40 prospective purchasers contacted per Trustee's recommendation summary · solicited: 40
- purchaser12830353 Canada Inc.
- recovery outcomeentries: basis: unstated · quote: Further, the Trustee is of the view that the releasees have been integral in the negotiation of the Transaction that will see all creditors repaid in full and will maximize value for the stakeholders of Ayanda. · pct of: unstated · outcome: paid_in_full · class key: unsecured · stated by: proposal_trustee · class label: creditors · interim final: unstated · conditional on: subject to the closing of the Transaction · claims qualifier: unstated · stated on: 2022-02-24 · table missing:
- sale advisorHyde Advisory & Investments Inc.
- sale outcometext: the Trustee recommends that the Court grant the Approval and Vesting Order approving the Transaction · scope: whole_business · status: pending_approval