Alberta · NOI
Report of Trustee on Proposal dated June 23, 2023
Court officer report · 23 June 2023
A plain-language read of this filing opens with a subscription.
What we verified from this filing1 verified
- recovery outcomeentries: basis: plan · quote: 56. Based on the Company's records as at the Initial Filing Date, the projected distribution to Unsecured Creditors is expected to be in the range of 72.7% to 87.6% of their claim. · pct of: unstated · outcome: distribution · pct low: 72.7 · pct high: 87.6 · class key: unsecured · stated by: proposal_trustee · class label: Unsecured Creditors · interim final: unstated · claims qualifier: unstated; basis: liquidation_alternative · quote: 71. As calculated below, the SER estimates that the realizable asset value will result in a distribution to Unsecured Creditors of 48.4% in a low bankruptcy scenario and 74.6% in a high bankruptcy scenario. · pct of: unstated · outcome: distribution · pct low: 48.4 · pct high: 74.6 · class key: unsecured · stated by: proposal_trustee · class label: Unsecured Creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: b) be paid in full if the class approves the Proposal; · pct of: unstated · outcome: paid_in_full · class key: pmsi_lessor · stated by: proposal_trustee · class label: Sask Lienholders · interim final: unstated · conditional on: if the class approves the Proposal · claims qualifier: unstated; basis: plan · quote: 46. Certain Crown Claims, relating to payroll taxes as defined in the Proposal, are to be paid in full within six months following Court approval of the Proposal or in an extended period of time if approved by CRA. · pct of: unstated · outcome: paid_in_full · class key: deemed_trust · stated by: proposal_trustee · class label: Certain Crown Claims · creditor name: CRA · interim final: unstated · claims qualifier: unstated; basis: plan · quote: 48. Wage Claims, as defined in the Proposal, are pre-NOI claims of employees and former employees of the Company pursuant to section 136(1)(d) of the BIA, and as such capped at $2,000 per employee. Wage Claims plus any amounts owing to employees or former employees for services rendered between the Initial Filing Date and Court approval of the Proposal shall be paid in full from the Company's operational cash flows immediately following Court approval of the Proposal. · pct of: unstated · outcome: paid_in_full · class key: preferred · stated by: proposal_trustee · class label: Wage Claims · interim final: unstated · claims qualifier: unstated; basis: plan · quote: c) 179 AB not participating in any distributions from the Proposal. · pct of: unstated · outcome: nil · class key: unsecured · stated by: proposal_trustee · class label: 179 AB · claims amount: 1400000 · creditor name: 179 AB · interim final: unstated · claims qualifier: estimated · stated on: 2023-06-02 · table missing: