Ontario · NOI
Notice of Proposal to creditors – dated January 18, 2021
Notice to creditors · 18 January 2021
A plain-language read of this filing opens with a subscription.
What we verified from this filing3 verified
- financial positionnote: Liabilities comprise: unsecured creditors $13,117,785.48; secured creditors balance (Liste B) $20,916,641.74; preferred creditors $0.00; contingent/trust claims $0.00. Deficit of $34,034,427.22 (liabilities minus assets) as stated on the form. · page: 4 · as at: 2021-01-08 · basis: Statement of Affairs (Form 78) as declared and estimated by the officer (sworn/solemnly declared) · scope: Geox Canada Inc. (single entity) · currency: CAD · total assets: 9283358.26 · total liabilities: 43317785.48
- unsecured creditorsnote: Total unsecured creditors per Statement of Affairs; comprises unsecured claims of $13,117,785.48 plus balance of secured claims deemed unsecured of $20,916,641.74 (Liste B balance). Document does not itemise individual unsecured creditors on these pages. · page: 4 · as of: 2021-01-08 · basis: Statement of Affairs (Form 78) as reported and estimated by the officer · amount: 34034427.22 · debtor: Geox Canada Inc. · creditor: Unsecured creditors (aggregate as reported) · currency: CAD
- recovery outcomeentries: basis: plan · quote: For greater certainty, the Secured Claims and the Sponsor Claims shall not receive any distribution under this Proposal and shall remain unaffected by this Proposal. · pct of: unstated · outcome: nil · class key: secured · stated by: debtor · class label: Secured Claims and Sponsor Claims · interim final: unstated · claims qualifier: unstated; basis: plan · quote: All Crown Priority Claims that were outstanding as at the Filing Date, if any, shall be paid in full to Her Majesty in right of Canada or a Canadian province or territory, as applicable, within three (3) months after the issuance of the Proposal Approval Order. · pct of: unstated · outcome: paid_in_full · class key: preferred · stated by: debtor · class label: Crown Priority Claims · interim final: unstated · claims qualifier: unstated; basis: plan · quote: All Employee Priority Claims, if any, will be paid in full in amounts determined by the Proposal Trustee pursuant to section 135 of the Act. · pct of: unstated · outcome: paid_in_full · class key: preferred · stated by: debtor · class label: Employee Priority Claims · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Convenience Creditor Claims : Each Convenience Creditor, including, for clarity, any Unsecured Creditors that submit a Convenience Creditor Election, will be paid by the Proposal Trustee an amount in cash equal to the lesser of (a) $2,000 and (b) the value of such Convenience Creditor's Proven Claim. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: debtor · amount high: 2000 · class label: Convenience Creditor Claims · interim final: unstated · conditional on: amount in cash equal to the lesser of (a) $2,000 and (b) the value of such Convenience Creditor's Proven Claim · claims qualifier: unstated; basis: plan · quote: Preferred Claims : Any remaining Preferred Claims (after the payments provided in 2.5(a) to 2.5(d) of this Proposal have been made, or reserves taken therefor), if any, shall be paid without interest in priority to the Proven Claims addressed by Article 2.5(f) of this Proposal. · pct of: unstated · outcome: distribution · class key: preferred · stated by: debtor · class label: Preferred Claims · interim final: unstated · claims qualifier: unstated; basis: plan · quote: The holders of Proven Claims not addressed in 2.5(a) to 2.5(e) of this Proposal will receive an amount from the balance of the Sponsor Funds (subject to any reserves taken to satisfy the payments provided in 2.5(a) to 2.5(e) of this Proposal). · pct of: unstated · outcome: distribution · class key: unsecured · stated by: debtor · class label: Unsecured Claims · interim final: unstated · claims qualifier: unstated · stated on: 2021-01-18 · table missing: