Nova Scotia · NOI
Proposal Trustee Report
Court officer report · 21 July 2015
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: Assets per Statement of Affairs (book value): Cash $38,175, Prepaid expenses $40,797, Capital assets $3,505,352, Total $3,584,324. Estimated realizable value in liquidation: Low $3,038,175 / High $4,038,175. Creditors as at NOI Date: Secured $3,650,936 (2 creditors), Unsecured $155,234 (10 creditors), Total $3,806,170 (12 creditors). · as at: 2015-07-14 · basis: unaudited, Statement of Affairs (book value); Proposal Trustee also provides estimated realizable value in liquidation ($3,038,175 low to $4,038,175 high) · scope: entity - 3258042 Nova Scotia Limited · currency: CAD · total assets: 3584324 · total liabilities: 3806170
- recovery outcomeentries: basis: plan · quote: 3258042 will generate the necessary funds for payment in full of Priority Creditor Claims outstanding against 3258042 as at the Effective Date; · pct of: unstated · outcome: paid_in_full · pct low: 100 · pct high: 100 · class key: preferred · stated by: proposal_trustee · class label: Priority Creditor Claims · interim final: unstated · claims qualifier: unstated; basis: plan · quote: All Preferred Creditors will be paid in full, without interest, under the statutory requirements as contained within the BIA, before any payments are made to the Unsecured Creditors. · pct of: unstated · outcome: paid_in_full · pct low: 100 · pct high: 100 · class key: preferred · stated by: proposal_trustee · class label: Preferred Creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Proven Claims of Unsecured Creditors as of the NOI Date, excluding Proven Claims of Deferred Creditors, shall be paid 75% of Proven Claims over a three year period commencing on the Effective Date, payable in semi-annual payments from the Fund; and · pct of: proven_claims · outcome: distribution · pct low: 75 · pct high: 75 · class key: unsecured · stated by: proposal_trustee · class label: Unsecured Creditors (Proven Claims, excluding Deferred Creditors) · interim final: unstated · conditional on: payable in semi-annual payments over a three year period from the Fund · claims qualifier: unstated; basis: plan · quote: Deferred Creditors shall not receive any distribution in this Proposal. · pct of: unstated · outcome: nil · stated by: proposal_trustee · class label: Deferred Creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: as opposed to a projected distribution of 70% (75% dividend less 5% levy) contemplated by the terms of the Proposal. · pct of: unstated · outcome: distribution · pct low: 70 · pct high: 70 · class key: unsecured · stated by: proposal_trustee · class label: Unsecured Creditors · interim final: unstated · conditional on: 75% dividend less 5% OSB levy · claims qualifier: unstated · stated on: 2015-07-20 · table missing: