Ontario · Proposal
Proposal Trustee's Report on the Second Amended Proposal dated December 1, 2023.pdf
Court officer report · 1 December 2023
A plain-language read of this filing opens with a subscription.
What we verified from this filing1 verified
- recovery outcomeentries: basis: plan · quote: plus iii) approximately 5 cents on the dollar for the balance of their claims. · pct of: unstated · outcome: distribution · pct low: 5 · pct high: 5 · class key: weppa · stated by: proposal_trustee · class label: Former Employees of Metroland (balance of claims, WEPP unsuccessful) · creditor name: Former Employees · interim final: unstated · cents on dollar: 5 · claims qualifier: unstated; basis: plan · quote: If the WEPP Application is successful, the Former Employees would receive the amounts set out in i) and ii) plus approximately 17 cents on the dollar for the balance of their claims. · pct of: unstated · outcome: distribution · pct low: 17 · pct high: 17 · class key: weppa · stated by: proposal_trustee · class label: Former Employees of Metroland (balance of claims, WEPP successful) · creditor name: Former Employees · interim final: unstated · conditional on: If the WEPP Application is successful · cents on dollar: 17 · claims qualifier: unstated; basis: plan · quote: Unsecured Creditors other than Former Employees are to receive approximately 5 cents on the dollar of their outstanding claims should the Second Amended Proposal be fully performed. · pct of: unstated · outcome: distribution · pct low: 5 · pct high: 5 · class key: weppa · stated by: proposal_trustee · class label: Unsecured Creditors of Metroland (other than Former Employees, WEPP unsuccessful) · interim final: unstated · cents on dollar: 5 · claims qualifier: unstated; basis: plan · quote: If the WEPP Application is successful, the Unsecured Creditors would also benefit in that they too would receive approximately 17 cents on the dollar for their claims. · pct of: unstated · outcome: distribution · pct low: 17 · pct high: 17 · class key: weppa · stated by: proposal_trustee · class label: Unsecured Creditors of Metroland (other than Former Employees, WEPP successful) · interim final: unstated · conditional on: If the WEPP Application is successful · cents on dollar: 17 · claims qualifier: unstated; basis: plan · quote: second, to pay any Crown Claims within six months after the Court Approval Date (estimated at NIL); · pct of: unstated · outcome: nil · class key: preferred · stated by: proposal_trustee · class label: Crown Claims · interim final: unstated · claims qualifier: unstated; basis: plan · quote: third, to pay all proven Preferred Claims, if any, without interest from the Filing Date (estimated at $1,200,000); · pct of: unstated · outcome: distribution · currency: CAD · class key: preferred · stated by: proposal_trustee · amount low: 1200000 · amount high: 1200000 · class label: Preferred Claims · interim final: unstated · currency quote: Unless otherwise stated, monetary amounts contained in this Updated Report are expressed in Canadian dollars. · claims qualifier: unstated; basis: liquidation_alternative · quote: Specifically, the Proposal Trustee now estimates the recovery to Unsecured Creditors in a bankruptcy scenario as zero. · pct of: unstated · outcome: nil · class key: unsecured · stated by: proposal_trustee · class label: Unsecured Creditors (bankruptcy scenario) · interim final: unstated · claims qualifier: unstated · table missing: