Quebec · Proposal
Report of the Trustee in charge on the statement of the proposer's business and financial affairs
Court officer report · 8 October 2013
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What we verified from this filing14 verified
- appointeeRAYMOND CHABOT INC.
- appointee roleTrustee
- courtSUPERIOR COURT "Commercial Division"
- court file no500-11-044810-139
- proceeding typebia_proposal
- statutory basisSubsections 50(10) and 50(5) of the Bankruptcy and Insolvency Act
- statutory basisSubsections 50(10) and 50(5) of the Bankruptcy and Insolvency Act
- commencement date6 June 2013
- financial positionnote: Figures taken from balance sheet table (in thousands of dollars, unaudited) as at March 31, 2013 column; comparative figures for December 31, 2012 ($34,689K assets / $11,898K liabilities) and December 31, 2011 ($34,936K assets / $12,752K liabilities) also presented but not used here as they are prior comparative periods, not the as-at date. · page: 4 · as at: 2013-03-31 · basis: unaudited, no audit or review engagement performed, no assurance expressed · scope: Malaga Inc. (entity-level, parent company balance sheet, not consolidated) · currency: CAD · total assets: 33718000 · total liabilities: 11399000
- secured creditorsnote: Sole secured creditor of the Debtor per Trustee's report; amount described as 'currently around $2.2M' following share sale proceeds remittance; also referenced as 'approximately $2.2M as of today' in Section 3(c) of the report. · page: 5 · as of: as of report date (October 8, 2013) · amount: 2200000 · debtor: Malaga Inc. · creditor: Global Tungsten & Powders Corporation (GTP) · currency: CAD · security: Moveable hypothec on shares held in Mine d'or Dynacor Inc. and on Peruvian subsidiaries' assets, granted in connection with a supply contract and advance made in 2009
- secured creditorsnote: Proposal states the value attributed to Trapèze Asset Management's security is null and any claim will be considered as an unsecured claim. · page: 7 · debtor: Malaga Inc. · creditor: Trapèze Asset Management · currency: CAD · security: Security interest, value attributed to it stated to be null under the Proposal
- unsecured creditorsnote: Preferred claims are a distinct class ranking ahead of ordinary unsecured claims; amount is $4 (in thousands) per the estimated distribution table. · page: 9 · as of: Statement of Estimated Distribution · basis: Statement of Estimated Distribution prepared by the Trustee · amount: 4000 · debtor: Malaga Inc. · creditor: Preferred claims (including employees under Section 136(1)(2) of the Act) · currency: CAD
- unsecured creditorsnote: Document names no individual unsecured creditors; figure is from the Statement of Affairs as reported in the Statement of Estimated Distribution (in thousands of dollars). · page: 9 · as of: Statement of Affairs · basis: According to the Statement of Affairs, unsecured claims amounted to $1,204 (in thousands) · amount: 1204000 · debtor: Malaga Inc. · creditor: Unsecured creditors (aggregate as reported) · currency: CAD
- recovery outcomeentries: basis: unstated · quote: | Estimated dividend | 100% | · pct of: unstated · outcome: distribution · pct low: 100 · pct high: 100 · class key: unsecured · stated by: trustee · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated · stated on: 2013-10-08 · table missing: