Quebec · CCAA
Third Report of the Monitor
Court officer report · 26 February 2018
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What we verified from this filing5 verified
- process resultsbids: 7 · ndas: 79 · note: 12 phase 1 bids received December 21, 2017; 7 phase 2 offers received January 26, 2018 · as of: 2018-01-26 · solicited: 185 · qualified bids: 12
- purchaserprice: note: cash payment plus payment of prepaid deposits, in-transit inventory, and 40% of on-hand inventory value · basis: mixed · sealed: false · currency: CAD · scope: assets of the Sealing Division and certain assets relating to the Flooring and Seasonal Division · status: approved · name note: purchaser of the Sealing Division assets, unnamed · structure: assets · name source: recital · relationship: unstated; price: note: deposit amount only; revised offer for significantly lower consideration was submitted · basis: cash · amount: 200000 · sealed: false · currency: CAD · scope: assets of the flooring and seasonal division · status: not_completed · name note: potential purchaser of the Flooring and Seasonal Division assets, unnamed · structure: assets · name source: recital · relationship: unstated
- recovery outcomeentries: basis: estimated · quote: There will be no remaining cash from the Transaction for a distribution to unsecured creditors of the Applicants. · pct of: unstated · outcome: nil · class key: unsecured · stated by: monitor · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated · stated on: 2018-02-26 · table missing:
- sale advisorLincoln International LLC
- sale outcometext: Sale of substantially all of the Applicants' assets to the purchaser of the Sealing Division, incorporating certain Flooring and Seasonal Division assets · scope: whole_business · status: pending_approval