Alberta · NOI
Report of Proposal Trustee to Creditors dated September 12, 2024
Court officer report · 12 September 2024
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 stated as book value as at August 31, 2024 (Water Assets $1,487,940; Accounts Receivable $337,563; Cash $204,398; Other Misc. Property $35,001; Furniture $20,000; Total $2,084,902). Liabilities per Claims Procedure as at August 16, 2024 (Secured Creditors $573,818; CRA $424,464; Priority Creditors $99,045; Unsecured Creditors $1,985,314; Total $3,082,641). At the Filing Date, Company owed $2,995,095 to creditors with claims of $250 or more. Priority Claim may increase by $54,762 to $153,807 if accepted. · basis: book value / Claims Procedure determination · scope: entity - Taber Water Disposal Inc. · currency: CAD · total assets: 2084902 · total liabilities: 3082641
- recovery outcomeentries: basis: plan · quote: Convenience Creditors with claims under $3,500 will be paid in full; · pct of: unstated · outcome: paid_in_full · class key: unsecured · stated by: proposal_trustee · class label: Convenience Creditors · claims amount: 3500 · interim final: unstated · conditional on: claims under $3,500 · claims qualifier: unstated; basis: plan · quote: Pro Rata Creditors will be able to receive a dividend currently estimated at approximately 24% of their total claim, subject to the number of creditors and amounts paid out to Convenience Creditors, and finalization of one disputed claim. · pct of: unstated · outcome: distribution · pct low: 24 · pct high: 24 · class key: unsecured · stated by: proposal_trustee · class label: Pro Rata Creditors · interim final: unstated · conditional on: subject to the number of creditors and amounts paid out to Convenience Creditors, and finalization of one disputed claim · claims qualifier: unstated; basis: liquidation_alternative · quote: In a Bankruptcy, the Affected Creditors (i.e. Unsecured Creditors) will likely receive no dividend due to the priority of the Administrative Charge, Interim Financing Charge, CRA's Deemed Trust Claims, Secured Creditors and Priority Creditors. · pct of: unstated · outcome: nil · class key: unsecured · stated by: proposal_trustee · class label: Affected Creditors (i.e. Unsecured Creditors) · interim final: unstated · claims qualifier: unstated; basis: plan · quote: No changes to agreements with Secured Creditors, who will be paid in full pursuant to current agreements in place; · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: proposal_trustee · class label: Secured Creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Payment in full of CRA's claims in full, of which a portion (i.e. GST and non-deemed trust amounts) are estimated to go largely unsatisfied if TWD is deemed bankrupt; · pct of: unstated · outcome: paid_in_full · class key: deemed_trust · stated by: proposal_trustee · class label: CRA · creditor name: CRA · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Payment in full to priority creditors; and, · pct of: unstated · outcome: paid_in_full · class key: preferred · stated by: proposal_trustee · class label: priority creditors · interim final: unstated · claims qualifier: unstated · table missing: