Nova Scotia · NOI
Minutes of Meeting of Creditors held March 6, 2014
Meeting materials · 6 March 2014
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
- financial positionnote: Assets: Equipment book value $1,387,043 (est. realizable $500,000-$650,000); Silver Hake Licence & Quota book value $219,111 (est. realizable $500,000-$1,000,000); Total book value $1,606,154, estimated realizable $1,000,000-$1,650,000. Liabilities per Creditors' Claims: Priority $0, Secured $1,795,515, Preferred $0, Unsecured $1,895,059, Total $3,690,574 as at the Bankruptcy Date. · as at: 2014-02-10 · basis: Statement of Affairs management estimate / estimated realizable value in liquidation · scope: entity - D'Eon Fisheries Limited · currency: CAD · total assets: 1606154 · total liabilities: 3690574
- recovery outcomeentries: basis: plan · quote: a. The Convenience Class portion of the claim (the first $1,000 of any Unsecured Creditor's Proven Claim) will be paid in full, without interest; · pct of: unstated · outcome: paid_in_full · class key: unsecured · stated by: trustee · amount low: 1000 · amount high: 1000 · class label: Unsecured Creditors (Convenience Class portion) · interim final: unstated · conditional on: 100% of the first $1,000 of any Unsecured Creditor's Proven Claim; balance paid under separate options · claims qualifier: unstated; basis: plan · quote: i. 10% of the Proven Claim less payment made through the Convenience Class, without interest, from the Fund; or · pct of: proven_claims · outcome: distribution · pct low: 10 · pct high: 10 · class key: unsecured · stated by: trustee · class label: Unsecured Creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: ii. 25% of Proven Claim less payment made through the Convenience Class, without interest, payable from Distributable Free Cash Flow generated by Newco over the next 5 Fiscal Years, limited to 30% of Distributable Free Cash Flow of Newco in any given Fiscal Year. · pct of: proven_claims · outcome: distribution · pct low: 25 · pct high: 25 · class key: unsecured · stated by: trustee · class label: Unsecured Creditors · interim final: unstated · conditional on: payable from Distributable Free Cash Flow generated by Newco over the next 5 Fiscal Years, limited to 30% of Distributable Free Cash Flow of Newco in any given Fiscal Year · claims qualifier: unstated; basis: plan · quote: vii. Deferred Creditors shall not receive any distribution in this Proposal. · pct of: unstated · outcome: nil · class key: unsecured · stated by: trustee · class label: Deferred Creditors · interim final: unstated · claims qualifier: unstated; basis: plan · quote: NSBI will compromise and release its Claim against D'Eon Fisheries, but shall not be entitled to receive any distribution from the Fund; · pct of: unstated · outcome: nil · class key: secured · stated by: trustee · class label: NSBI · creditor name: NSBI · interim final: unstated · claims qualifier: unstated; basis: plan · quote: All Preferred Creditors will be paid in full, without interest, under the statutory requirements as contained within the BIA, before any payments are made to the Unsecured Creditors. · pct of: unstated · outcome: paid_in_full · class key: preferred · stated by: trustee · class label: Preferred Creditors · interim final: unstated · claims qualifier: unstated · stated on: 2014-02-24 · table missing: