Quebec · NOI
Report of Trustee on Proposal – dated December 17, 2010
Court officer report · 17 December 2010
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: estimated · quote: The estimated distribution to the Ordinary Creditors ina Proposal is approximately $0.10 on the dollar, which isgreater than the estimated dividend ofapproximately $0.03 on the dollar inthe event ofabankruptcy. · pct of: unstated · outcome: distribution · pct low: 10 · pct high: 10 · class key: unsecured · stated by: trustee · class label: Ordinary Creditors · interim final: unstated · cents on dollar: 10 · claims qualifier: unstated; basis: unstated · quote: All ofthe Company's assets are pledged as security to PBl's principal secured creditor, the National Bank of Canada ("NBC") who isowed inexcess of $15MM and isestimated tosuffer a shortfall on itsadvances. · pct of: unstated · outcome: shortfall · class key: secured · stated by: trustee · class label: National Bank of Canada · creditor name: National Bank of Canada · interim final: unstated · claims qualifier: unstated; basis: unstated · quote: All of the Company's capital assets have been pledged in favor of PBl's secured creditor and it appears that there would be no recovery forthe ordinary creditors of the Company. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: ordinary creditors · interim final: unstated · claims qualifier: unstated · stated on: 2010-12-03 · table missing: