Alberta · NOI
Creditors Package - Proposal and FMOC
Meeting materials · 3 October 2018
A plain-language read of this filing opens with a subscription.
What we verified from this filing1 verified
- recovery outcomeentries: basis: estimated · quote: Under a Proposal, we estimate there will be between $140,000 and $178,000 available from the Creditors' Fund for distribution to the secured creditors depending on whether the garnished funds heldin court are released to the Trustee for distribution. · pct of: unstated · outcome: distribution · class key: secured · stated by: trustee · amount low: 140000 · amount high: 178000 · class label: Secured creditors · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: This would provide secured creditors a recovery between$0.06 and $0.07per $1 of outstandingclaim. · pct of: unstated · outcome: distribution · pct low: 6 · pct high: 7 · class key: secured · stated by: trustee · class label: Secured creditors · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: For the unsecured creditors, we estimate there will be between$60,000 and $76,000 available from the Creditors' Fund for distribution to the unsecured creditors. · pct of: unstated · outcome: distribution · class key: unsecured · stated by: trustee · amount low: 60000 · amount high: 76000 · class label: Unsecured creditors · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: This will provide the unsecured creditors a recovery between $0.06 and $0.07 per $1 of outstanding claim. · pct of: unstated · outcome: distribution · pct low: 6 · pct high: 7 · class key: unsecured · stated by: trustee · class label: Unsecured creditors · interim final: unstated · claims qualifier: unstated; basis: liquidation_alternative · quote: Based on our review of the Company's current assets and liabilities and our discussions with the Company's management, in the event of a bankruptcy, it is our view that the liquidation of the Company's assets would provide the unsecured and secured creditors a recovery of $nil. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: unsecured and secured creditors · interim final: unstated · claims qualifier: unstated; basis: unstated · 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 province within six (6) months after the issuance of theApprovalOrder; · pct of: unstated · outcome: paid_in_full · class key: deemed_trust · stated by: trustee · class label: Crown Priority Claims / CRA · creditor name: Canada Revenue Agency · interim final: unstated · claims qualifier: unstated · stated on: 2018-10-03 · table missing: