Quebec · Bankruptcy
Fifth Report of the Trustee
Court officer report · 14 August 2023
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 filing3 verified
- purchaserVia Vegan Inc.
- recovery outcomeentries: basis: estimated · quote: The secured creditors, CIBC and 4300769 Canada Inc., will either be repaid in full or have their debt assumed in full as part of the proposed sale transaction. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: proposal_trustee · class label: The secured creditors, CIBC and 4300769 Canada Inc. · interim final: unstated · conditional on: proposed sale transaction closing · claims qualifier: unstated; basis: estimated · quote: It is anticipated that there will be no residual amount available for distribution to the unsecured creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: proposal_trustee · class label: unsecured creditors · interim final: unstated · conditional on: proposed sale transaction closing · claims qualifier: unstated; basis: liquidation_alternative · quote: Furthermore, the Transaction does not, nor would a sale or disposition of assets under a bankruptcy be expected to, result in any residual amounts available for distribution to the unsecured creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: proposal_trustee · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated; basis: liquidation_alternative · quote: The proceeds from a sale or disposition of assets under a bankruptcy are expected to <!-- image --> be insufficient to repay the secured claims in full. · pct of: unstated · outcome: shortfall · class key: secured · stated by: proposal_trustee · class label: secured claims · interim final: unstated · claims qualifier: unstated · table missing:
- sale outcometext: The offer from Via Vegan was selected as the Successful Bid in the SISP and the Trustee recommends the Transaction be approved · scope: whole_business · status: pending_approval