Saskatchewan · CCAA
First Report of the Trustee (September 27, 2021)
Court officer report · 27 September 2021
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 Receiver proposes to make a final distribution to BMO from the forecast ending cash balance of approximately $395,000 (the ' Final Distribution '). · pct of: unstated · outcome: distribution · class key: secured · stated by: receiver · amount low: 395000 · amount high: 395000 · class label: BMO · creditor name: BMO · interim final: final · conditional on: Subject to the Receiver collecting forecast receipts and paying forecast costs as estimated; the Final Distribution may increase or decrease. · claims qualifier: unstated; basis: estimated · quote: the Trustee continues to be of the view there will not be any recoveries/distributions to unsecured creditors in each of these estates as there are no remaining assets to realize upon by the Trustee · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: the secured creditors, FCC and BMO, will experience a shortfall on its secured debt. · pct of: unstated · outcome: shortfall · class key: secured · stated by: trustee · class label: secured creditors, FCC and BMO · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: As a result, the Trustee believes there will be no recoveries to either the secured or unsecured creditors of the Company. · pct of: unstated · outcome: nil · class key: secured · stated by: trustee · class label: secured and unsecured creditors of the Company (Morris Industries Ltd.) · interim final: unstated · claims qualifier: unstated · stated on: 2021-09-27 · table missing: