Ontario · Proposal
Creditors’ Package
Meeting materials · 11 January 2018
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 filing2 verified
- unsecured creditorsnote: Crown claim (deemed trust); prose approximation ('approximately $375,193') · page: 11 · as of: NOI filing date · basis: stated in Proposal as amount owed for employee source deductions withheld but not remitted, including penalties and interest · amount: 375193 · debtor: Toronto Machine & Tool Inc. · creditor: Canada Revenue Agency (CRA) · currency: CAD
- recovery outcomeentries: basis: plan · quote: In the Proposal scenario Crown Priority Claims will be paid in full, and shall be paid by the Company from operating funds paid to the Proposal Trustee within six (6) months of the Court Approval Date · pct of: unstated · outcome: paid_in_full · pct low: 100 · pct high: 100 · class key: deemed_trust · stated by: proposal_trustee · class label: CRA (Crown Priority Claims) · creditor name: CRA · interim final: unstated · claims qualifier: unstated; basis: liquidation_alternative · quote: CRA for Crown Priority Claims in a bankruptcy scenario is 100%. · pct of: unstated · outcome: paid_in_full · pct low: 100 · pct high: 100 · class key: deemed_trust · stated by: proposal_trustee · class label: CRA for Crown Priority Claims · creditor name: CRA · interim final: unstated · claims qualifier: unstated; basis: liquidation_alternative · quote: Unsecured Creditors in a bankruptcy scenario is approximately 7% versus approximately 30% under the Proposal scenario. · pct of: unstated · outcome: distribution · pct low: 7 · pct high: 7 · class key: unsecured · stated by: proposal_trustee · class label: Unsecured Creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: Unsecured Creditors in a bankruptcy scenario is approximately 7% versus approximately 30% under the Proposal scenario. · pct of: unstated · outcome: distribution · pct low: 30 · pct high: 30 · class key: unsecured · stated by: proposal_trustee · class label: Unsecured Creditors · interim final: unstated · claims qualifier: unstated · table missing: