Ontario · NOI
Trustee’s Report to the First Meeting of Creditors on Preliminary Administration – dated December 7, 2015
Court officer report · 7 December 2015
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing4 verified
- closing confirmedscope: substantially all of the Company's business and assets · outcome: completed · effective: 2015-08-21 · purchaser: Nine West Canada LP · date basis: stated · approval order date: 2015-08-20
- purchaserNine West Canada LP
- recovery outcomeentries: basis: actual · quote: As noted above, during the NOI proceedings, the Court authorized distributions to BMO and BDC in full satisfaction of amounts owed by Sherson to those creditors. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: trustee · class label: BMO · creditor name: Bank of Montreal (BMO) · interim final: unstated · related party: false · claims qualifier: unstated; basis: actual · quote: As noted above, during the NOI proceedings, the Court authorized distributions to BMO and BDC in full satisfaction of amounts owed by Sherson to those creditors. · pct of: unstated · outcome: paid_in_full · class key: secured · stated by: trustee · class label: BDC · creditor name: BDC Capital Inc. (BDC) · interim final: unstated · related party: false · claims qualifier: unstated; basis: actual · quote: In the NOI proceedings, the Court also authorized a distribution to SAI of up to $750,000, as partial consideration of the approximately $3.4 million owed by Sherson to SAI. · pct of: unstated · outcome: shortfall · class key: secured · stated by: trustee · class label: SAI · claims amount: 3400000 · creditor name: Stephen Applebaum Inc. (SAI) · interim final: unstated · claims qualifier: unstated; basis: estimated · quote: As a result, it is anticipated that there will be no funds available for distribution to the unsecured creditors of the Company. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: unsecured creditors · interim final: unstated · claims qualifier: unstated · table missing:
- sale outcometext: Sale of substantially all of the Company's business and assets closed · scope: whole_business · status: closed