Alberta · Proposal
Creditors' Package - May 21, 2015
Notice to creditors · 21 May 2015
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What we verified from this filing10 verified
- secured creditorsnote: Unaffected Secured Creditor; lease payments are current, no balance stated · page: 20 · debtor: F.A.S.T. Industries Ltd. · creditor: Enable Capital Corporation · currency: CAD · security: Accupress model 7-175-12 SN 4431 (leased equipment)
- secured creditorsnote: Unaffected Secured Creditor (not affected by Proposal); related party - director Bret Wetthuhn holds shares in trust for this entity; amount approximate · page: 20 · amount: 502000 · debtor: F.A.S.T. Industries Ltd. · creditor: 721433 Alberta Ltd. · currency: CAD · security: General Security Agreement
- secured creditorsnote: Unaffected Secured Creditor; lease payments are current, no balance stated · page: 20 · debtor: F.A.S.T. Industries Ltd. · creditor: National Leasing Group Inc. · currency: CAD · security: Equipment encompassed by lease numbers 2609792, 2615331 and 2579617
- secured creditorsnote: Unaffected Secured Creditor; lease payments are current, no balance stated · page: 20 · debtor: F.A.S.T. Industries Ltd. · creditor: Blue Chip Leasing Corporation · currency: CAD · security: Equipment encompassed by lease agreement 31950
- secured creditorsnote: Unaffected Secured Creditor; lease payments are current, no balance stated · page: 20 · debtor: F.A.S.T. Industries Ltd. · creditor: RBC Royal Bank of Canada · currency: CAD · security: 2013 Ram 1500, serial number 1C6RR7LT0DS545354
- secured creditorsnote: Unaffected Secured Creditor; lease payments are current, no balance stated · page: 20 · debtor: F.A.S.T. Industries Ltd. · creditor: Bodkin Capital Corp · currency: CAD · security: Equipment encompassed by lease agreement 84711
- secured creditorsnote: Unaffected Secured Creditor; stated as $nil owed · page: 20 · amount: 0 · debtor: F.A.S.T. Industries Ltd. · creditor: Workers' Compensation Board · currency: CAD · security: General Security Agreement
- secured creditorsnote: Affected Secured Creditor, to be paid in full from Cash Pool; amount approximate · page: 20 · amount: 22000 · debtor: F.A.S.T. Industries Ltd. · creditor: TNT Tank & Trailers Repair LP · currency: CAD · security: Garage Keeper's Lien on a 2014 Tremcar TC 406 10 Cube, Serial #14-13196
- secured creditorsnote: Affected Secured Creditors (single combined claim across four related entities), to be paid in full from Cash Pool; amount approximate · page: 20 · amount: 5000 · debtor: F.A.S.T. Industries Ltd. · creditor: Wajax Power Systems, Wajax GP Holdco Inc., Wajax GP Trust, and Integrated Distribution Systems LP · currency: CAD · security: General Security Agreement
- recovery outcomeentries: basis: plan · quote: 15. Affected Secured Creditors claim will be paid in full from the Cash Pool. A summary of the Affected Secured Creditors is as follows: · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: trustee · class label: Affected Secured Creditors · claims amount: 27000 · interim final: unstated · claims qualifier: listed; basis: plan · quote: 18. Crown Claims, as defined in the Proposal, which are proven, will be paid in full without interest or penalty within 6 months of the Effective Date. · pct of: unstated · outcome: paid_in_full · class key: preferred · stated by: trustee · class label: Crown Claims · claims amount: 413000 · interim final: unstated · claims qualifier: estimated; basis: plan · quote: Preferred Claims, as defined in the Proposal, which are proven, will be paid in full within 6 months of the Effective Date. · pct of: unstated · outcome: paid_in_full · class key: preferred · stated by: trustee · class label: Preferred Creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: 23. Based on the known Ordinary Unsecured Creditors, the total payments to Ordinary Unsecured Creditors will amount to approximately 13% of the principal balance of Ordinary Unsecured Claims. · pct of: principal · outcome: distribution · pct low: 13 · pct high: 13 · class key: unsecured · stated by: trustee · class label: Ordinary Unsecured Creditors · claims amount: 1400000 · interim final: unstated · claims qualifier: estimated; basis: liquidation_alternative · quote: b) If the Company were to become bankrupt, it is highly unlikely that Ordinary Unsecured Creditors would receive any distribution; and · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: Ordinary Unsecured Creditors · interim final: unstated · claims qualifier: unstated · stated on: 2015-05-21 · table missing: