Ontario · Receivership (court-appointed)
Notice of Proposal to Creditors dated July 16, 2010
Notice to creditors · 16 July 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 filing2 verified
- financial positionnote: Liabilities: unsecured creditors $7,428,508.55, secured nil, preferred $1,077.64; total $7,429,586.19. Assets consist of other property $72,001 plus cash of about $2.7 million (cash line shown only in the projected cash-flow opening balance of $2,700,000). The projected cash flow is a forecast and not the position. Earlier statement of affairs at the date of bankruptcy showed total assets of $3,753,636 (Section 5), since largely realized by the Receiver. · as at: 2010-07-15 · basis: Statement of Affairs (Business Proposal) as at July 15, 2010, sworn by the Trustee based on information available to it; a full, true and complete statement of the affairs of EnerNorth · scope: EnerNorth Industries Inc. (the bankrupt entity only) · currency: CAD · total assets: 2772001 · total liabilities: 7429586.19
- recovery outcomeentries: basis: actual · quote: The Trustee vetted the validity of the above claims, all of which were paid in full in accordance with an order of the Court dated March 26, zoo8. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: trustee · class label: Secured Creditors · interim final: unstated · claims qualifier: unstated; basis: actual · quote: Claims were also made against Great Northern, which have been paid in full. · pct of: unstated · outcome: paid_in_full · stated by: trustee · class label: Great Northern claims · creditor name: Great Northern · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Preferred Creditors will be paid in full prior to payment of Unsecured Creditors (Section z.z. of the Proposal); a · pct of: unstated · outcome: paid_in_full · class key: preferred · stated by: trustee · class label: Preferred Creditors · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: Based on the ciaims filed in the bankruptcy, the dividend rate is expected to be in the range of go.7o to go.Z4 per dollar of unsecured claims ($o.SS per dollar for Oakwell) · pct of: unstated · outcome: distribution · pct low: 70 · pct high: 74 · class key: unsecured · stated by: trustee · class label: unsecured creditors other than Oakwell · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: Based on the ciaims filed in the bankruptcy, the dividend rate is expected to be in the range of go.7o to go.Z4 per dollar of unsecured claims ($o.SS per dollar for Oakwell) · pct of: unstated · outcome: distribution · class key: unsecured · stated by: trustee · class label: Oakwell · creditor name: Oakwell · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: Estimated distribution percentage to Oakwell on its claimz | 33% · pct of: unstated · outcome: distribution · pct low: 33 · pct high: 33 · class key: unsecured · stated by: trustee · class label: Oakwell · creditor name: Oakwell · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: Estimated distribution percentage to other creditors on their claimss | 74% · pct of: unstated · outcome: distribution · pct low: 74 · pct high: 74 · class key: unsecured · stated by: trustee · class label: other unsecured creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: The Claim of James Cassina will be an excluded Claim under this Proposal, such that James Cassina will receive no distribution and his Claim against EnerNorth will survive the within proceedings and the annulment of the bankruptcy of EnerNorth. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: Cassina, James · creditor name: James Cassina · interim final: unstated · claims qualifier: unstated · stated on: 2010-07-16 · table missing: